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| NFC Why 2012 is looking like the start for Mobile payment and ... As mentioned in the first post one of the key drivers for NFC has always been mobile payment and it now looks like 2012 will be the year when all of the ... blog.clove.co.uk/.../nfc-why-2012-is-looking-like-the-start-for... |
May 31, 2011 08:00 AM Eastern Daylight Time
cMoney – What Competition?
HOUSTON--(BUSINESS WIRE)--cMoney, Inc., is a Houston-based company that is at the forefront of global mobile phone-based payments and money transfers, while using the POS and ATM payment system. The cMoney solution utilizes secure patent pending technology for mobile phone users, retailers, and financial institutions, and continues to innovate and strengthen the cMoney brand globally. In this fast moving mobile to mobile payments market segment, the cMoney solution takes a closer look at the Google Mobile Wallet application and its claims to send money from mobile to mobile. The comparison chart analyzes the cMoney concept versus Google's application on Android and demonstrates exactly why cMoney provides the total solution.Ongoing Research – Our cMoney solution continues to receive positive feedback from our business and technology developers, shareholders and also consumers. All information in the table below has been gathered by cMoney:
Comparison | cMoney | Google Mobile Wallet | ||||||
| Use on all phone handsets? | Absolutely, the cMoney solution is a quick downloadable app. that works on ALL phones. | No, only on Android | ||||||
| I have an iPhone, can I use this? | Absolutely, the cMoney solution will be available through iTunes and many other resources. | No, iPhone does not run Android and all iPhones must be updated to include the NFC chip. | ||||||
| Banking partners? | Potentially all banks globally | Only one bank | ||||||
| Credit cards? | Potentially all credit/debit cards you carry. | Only one credit card provider and not Visa | ||||||
| Merchants POS? | Can use cMoney Solution with CURRENT POS hardware, without costly upgrades. | Installation of costly hardware before using | ||||||
| Usage and general availability? | The cMoney solution provides for credit card data never being revealed and can be used to: - send money from cell to cell - bank to bank - and ATM to ATM all securely from any current handset you own!! | Limited to ’partners’, who have joined Google’s program and installed the special merchant POS hardware | ||||||
Storing other personal data? | - Can store up to 30 credit/debit/store loyalty cards -Store discount cards -coupons, -gift certificates - and receipt history to archive and retrieve when needed - In final negotiations with a Strategic Partner to store other personal data | Google said that consumers could store cards, driver’s licenses, IDs and other items in Google Wallet. These items may pose an increased risk of identity theft and these items aren’t ‘official’ when displayed on the phone. | ||||||
| Use of NFC? | Uses your current cell phone to display cMoney Pay Code (authorization code) and does not need costly NFC or merchant POS hardware upgrades. | Uses a technology called Near Field Communications (NFC) to allow contactless transactions between consumers' phones and merchants' terminals. NFC chips need to be in all phones to acquire a critical mass. Consumer’s level of security during transactions is questionable. | ||||||
| Use of ATMs? | The cMoney Solution acts as the consumers’ 24 hour bank giving them the ability to deposit cash, checks, send money: ATM to ATM, ATM to cell, and pay bills; all instantly and secure. | Not available through Google wallet. | ||||||
| Transaction dollar limits? | Unless customer has a credit line, transactions will only be limited based on the amount of available funds. | On average it’s $100.00 per day and can fluctuate in other countries. | ||||||
| Need for a PIN? | For enhanced security reasons, your PIN is required for all transactions. | The wallet app itself will require a PIN, as will each transaction. | ||||||
| Security of personal details on phone? | No personal data is ever stored on phone and all transactions to and from the phone are encrypted so identity theft is completely eliminated. | The payment credentials will be encrypted and stored on a chip, called the secure element, inside the phone. So if the phone is misplaced or stolen, valuable information could be compromised. | ||||||
| What if I lose my phone or it gets stolen? | No personal information is stored on the phone, so there is nothing to disable. There can be no personal information hacked. | If the phone was lost/stolen, the credit cards inside could be remotely disabled but other information could be exposed. | ||||||
| New technology? | Yes, although sending money from mobile to mobile has been on the market, the cMoney Solution is ahead of its time in its ability to conduct instant and secure transactions with its many features. | Google is coming to the market after a number of others and is utilizing the NFC chip which has its numerous consumer/merchant disadvantages. |
Moving forward towards submission of S-1 – cMoney continues, with its previously announced partners, to prepare for the submission of its expedited Form S-1/A.
cMoney filings - Mr. Matthews, CEO of cMoney stated, “I am excited to confirm that all cMoney registration papers are current with the Nevada Secretary of State and are now ‘active filings’. Also, all OTCBB company information has been brought up to date. I am pleased to note that Yahoo Finance records our Market Cap. at $34M and we had an active trading volume on Friday of 2,354,887 shares.”
Mr. Matthews added, “I would like to take this opportunity to thank all our shareholders from around the world including Ireland, Spain, Estonia and of course America for your continuing loyalty and support. cMoney will continue to innovate, strengthen our brand, and improve on the latest technology developments allowing us to rapidly move forward towards our initial release of this exciting new financial network. The cMoney product is the total solution that has the competitive advantage which will revolutionize the mobile to mobile payment market.”
About cMoney, Inc.
cMoney, Inc., a Houston-based technology company that provides innovative secure mobile payment solutions for mobile phone users, retailers and financial institutions, has developed an innovative way to send money and pay for goods and services using a mobile phone and the text messaging system protected by patents. Scheduled to debut in 2011, the pioneering technology will create a “virtual wallet” that will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks, ATM’s or credit cards are accepted. For more information, visit www.cmoney.com or contact contactus@cmoney.com
