Bibit Launches Mobile PaymentBibit Launches Mobile Payment

LONDON -- Bibit Global Payment Services (Bibit) - which specialises in processing payments, originating from differing countries and channels, over an Internet infrastructure - can now support mobile transactions. Under the name Mobile Payment Suite Bibit introduces two new products for merchants and consumers. The Mobile Payment Suite can be used with a variety of established technologies and mobile devices.

Mobile payments have been a topic for debate for years, but in practice, the many various technologies, definitions and initiatives have prohibited their breakthrough on a large scale. Bibit now introduces a service that uses existing technologies and networks, and can therefore be used in most European countries, without local adaptation. The Bibit Mobile Payment Suite is available on two platforms: one for merchants and one for consumers.

Merchant Platform
Merchants wishing to accept payments at temporary locations can use the new Bibit Mobile Terminal Solution. This application uses a wireless Internet connection to accept and process payments and can be run on various mobile devices, such as PDAs and handsets. The Mobile Terminal Solution is of interest for merchants who work a lot 'on-site', such as event organisers, mobile sales in booths and payments at the door or on the road.

The payment service uses a standard handheld terminal with Internet connection, such as a Compaq Ipaq or the SonyEricsson P800 phone. Payment details are entered on the device, either manually or using a swipe reader. The Internet connection is then used to obtain a real-time payment authorisation, followed by a payment confirmation on the screen. This confirmation can also be printed on a sales slip, to be signed by the customer. As this solution uses GPRS, the application is ideal for international activities.

Consumer Platforms
On the consumer market, several platforms for accessing mobile content and websites already exist. Typically, tickets, news, traffic information, stock quotes and last-minute services are most suited for mobile sales, but other products and services can also be sold over a mobile platform.

Bibit now extends its payment service to mobile platforms, such as Vodafone Live and NTT DoCoMo I-Mode (WAP). This means that merchants who sell their products or services through these platforms now only need to connect to Bibit's established payment service to start accepting mobile payments. Bibit's platform offers similar functionality for mobile commerce as it already does for Internet payments, including credit and debit payments in various countries. Sensitive information, such as card numbers, is not disclosed to the merchant.

As with its successful Internet payment service, Bibit has deliberately employed industry standard existing technologies and established payment methods for its new mobile platform, thereby increasing the chances of widespread acceptance by both merchants and consumers. With this approach, Bibit turns mobile payments into an additional sales channel, which merchants who already use Bibit's payment platform can easily add to their existing activities on the Internet, via call centres etc.

Bibit Global Payment Services