mChek/Payment Commercially Launched

mChek has announced the commercial availability of mChek/Payment, its patent pending, inter-operable, on-demand, secure mobile payments platform. The company also announced that it has received the ISO27001 (formerly known as BS 7799) certification, an internationally recognised standard for Information Security Management.

mChek/Payment enables consumers to shop with their mobile phones in a convenient and safe manner, either across the counter or with remote merchants by bringing together the ecosystem of merchants/content owners, banks and telecom operators.

“mChek/Payment has been designed to be compatible with existing banking industry processes for issuance, transaction processing and settlement of credit and debit cards,” said Sanjay Swamy, CEO of mChek. “Available as an on-demand service built to ISO standards, banks and telecom operators can rapidly enter the exciting space of mobile banking and payments, eliminating the need for significant CAPEX investment.”

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The mChek/Payment on-demand platform is available in two options:

1. A service that enables consumers to easily link their mobile phone with their existing credit card without any software to be installed on their mobile, and subsequently transact on the Internet, call centers or over SMS.

2. A Java or SIM-card client-based service that allows either credit or debit cards to be used via the mobile phone, with remote or over-the-counter merchants.