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News
Issue #2001 - 16
(Apr. 2001)
(Updated
April 18, 2001)
TECHNOLOGY
724 Solutions’ M-Commerce Platform: Great for Impulse Buying
Leveraging its expertise
for providing secure financial transaction technology, 724 Solutions, Inc.
has moved into m-commerce by releasing its Mobile
Commerce Services Platform™ (MSP) that alerts customers to special
offers that can be acted upon on the spot.
Customers can be sent alerts from a seat sale on their favorite
airline to a special promotion on an electronic gadget and purchase
it then and there.
Besides action alerts, the MSP also features 724 Solutions’
Point of Exposure Technology (POET™). Using their digital phone
with a Phone.com browser, customers can enter a numerical code off a
billboard or magazine advertisement to access information and then
complete a transaction, with a few clicks.
Key Components of the MSP
- Mobile shopping applications, including top-10 lists, POET,
and search functions
- Personalized actionable alerts
- Secure payment applications, including a secure vault that
stores the end-user’s credentials and personal information,
such as credit card account numbers and shipping details
- Flexible commerce gateways enabling connectivity to a user’s
existing e-wallets, merchant sites, and content providers;
messaging gateway; device and network gateway
- Security features include user ID and password authentication
for access to e-wallets and to confirm final sale
724 Solutions’ MSP offers a richer user experience and features
that entice the consumer to purchase goods and services that they
really want, said Chris Jarman, general manager, m-commerce at 724
Solutions. He added, "We believe that our ability to enable
connectivity between a wide footprint of consumers and a tremendous
potential base of goods and services will maximize both customer
value and merchant opportunity."
The first release of the MSP supports credit card and debit card
payments, and the wallet gateway allows for interoperability with PC
wallets, the company said.
For more information: http://www.724solutions.com/
Mobileinfo Comments and Advisory: It
made a lot of sense for 724 Solutions to expand beyond its core
expertise in financial industry because consumers are going to take a
while to adopt wireless banking for a majority of their transactions.
Of course, many banks have started offering wireless banking - more
will offer soon. But only a small percentage will use wireless banking
as main method of doing their banking for the next three years.
Remember how long it took for ATMs to become popular. Real action will
be in m-commerce whenever that happens. 724 Solutions has a distinct
advantage in understanding how to build mobile applications based for
high transaction rates based on secure payment technology. Where it
(for that matter most m-commerce application providers) need help is
how to focus on m-commerce transactions that will find favor with
fickle consumers.
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.
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