PRESS RELEASE
April 26, 2012, 5:30 a.m. EDT
MUNICH, April 26, 2012 /PRNewswire via COMTEX/ -- In cooperation with the Munich-based company payworks, PAY.ON AG establishes a development partnership for mobile payment solutions. payworks GmbH develops both turnkey white-label products and modular components, making it easy for payment providers, banks and telecommunications providers to enter the emerging mobile payment market. Existing and new clients of PAY.ON's payment processing platform 'PaySourcing' can now rely on a professional partner for future mobile payment projects. For more information on payworks GmbH, visit http://www.payworksmobile.com
'The development of mobile payment systems can often be very complex. We offer payment providers the necessary solutions to quickly enter the rapidly growing mobile payment sector,' say payworks Managing Directors, David Bellem and Christian Deger. 'We are excited to have an experienced and internationally recognised partner like PAY.ON at our side. This opens up a vast amount of opportunities for our clients and allows us to align our products more closely to their specific needs.'
'The product portfolio of payworks complements our services perfectly. It gives our clients access to a new and dynamic market segment with high transaction volumes,' explains Wolfgang Berner, Vice President Product & Integration of PAY.ON. 'The products developed by payworks allow 'PaySourcing' clients to pursue sound strategies in the mobile payment market.'
The very first product, 'payworks.terminal', enables payment providers to instantly release their own mobile point-of-sale (POS) solution. With 'payworks.terminal', small retailers are able to accept card payments easily at the POS, the only requirement being a smartphone with internet access. An optional card reader can be plugged into the phone for faster processing. The application, which is available for iPhone and Android, is customised by payworks according to each payment provider's individual needs, representing a comprehensive all-in-one solution.
All payworks products comply with current data security standards for the international payment market. 'payworks.terminal' was developed compliant to the specifications and requirements of the PCI Security Standards Council's PA-DSS. Thus, no credit card and customer data is stored on the respective mobile phone. In addition, cardholder verification via signature mitigates the risk of data abuse. PAY.ON's PCI-DSS certified processing system ensures the safe and reliable execution of all payment transactions.
About payworks:
payworks develops and operates mobile payment solutions for payment providers, banks and telecommunications providers. The company is supported by the business incubator Barikuta Partners, the entrepreneurial arm of the PAY.ON founders. The solutions developed by payworks include turnkey white-label products and modular components, both being exclusively sold to payment providers. payworks enables its clients to enter the mobile payment sector with innovative and reliable solutions without the need of high investments. For more information, visit: http://www.payworksmobile.com
About PAY.ON:
PAY.ON AG is the world's leading provider for web-based payment infrastructure services and provider of the payment processing platform 'PaySourcing' as well as of the routing gateway 'PayPipe'. 'PaySourcing' allows clients to outsource all relevant eCommerce-typical payment and risk management processes into the cloud or to become a payment service provider in a cost-, time- and resource-saving way. 'PayPipe' is a high-performance routing gateway, which connects payment market participants worldwide by using only one API. 'PayPipe' accelerates the global availability for all market participants like no other network. Accordingly, transactions are processed in all payment methods in any currency across all systems. Every PAY.ON system is PCI-DSS certified and therefore compliant with the international payment standards and requirements. For more information, visit: http://www.payon.com
