What’s Next: Mobile Wallets 2013
Vantiv Mobile Wallet is a contactless mobile wallet and payment platform that enables merchants and financial institutions to quickly deploy mobile payment and ad/offer campaigns for their customers. With Vantiv Mobile Wallet, financial institutions and retail merchants have access to mobile payment capabilities to leverage this growing trend and improve payment efficiencies and the transaction experience for their consumers.
Unlike other mobile wallet offerings, Vantiv Mobile Wallet works with existing smartphones, including iPhone and Android devices, and does not require expensive hardware upgrades to existing point-of-sale systems and payment terminals.
Vantiv Mobile Wallet is the result of a partnership with Paydiant, a provider of cloud-based mobile payments and offer redemption platforms. When combined with the Vantiv single, integrated processing platform and the company's operational expertise and extensive experience in enabling payment endpoints, this platform enables the deployment of mobile payment capabilities into a merchant or financial institution's customer base quickly and easily.
The Vantiv Mobile Wallet has two key components. The first is a software-only acceptance interface that can be quickly deployed on POS or payment terminals across a broad range of consumer to merchant touch points - including large multi-lane retailers, small single lane merchants, pay at the table restaurants, ecommerce marketplaces, drive-through quick service restaurants and fuel dispensers - all without deploying new, expensive hardware terminals. The second is a software only mobile wallet that enables users to make payments using a variety of different mobile payment methods at checkout, allowing financial institutions and retailers to issue their own branded mobile wallet or integrate mobile wallet functionality into their existing mobile banking or commerce applications. With PCI Level 1 certification and a cloud-based credentialing system that does not store any sensitive information on the mobile device, the Vantiv Mobile Wallet solution offers one of the most secure ways of payment.