A Look at Tyfone's Mobile Payments Approach
Tyfone was one of the companies demoing at the recent Finovate Startup conference in San Francisco (see my notes here). In a press release this morning, Tyfone said they'll be at the Payments 2008 conference in Las Vegas next week demonstrating its mobile payments technology.
What's interesting about Tyfone's approach is their effort to be independent of both handset device suppliers as well as wireless operators. The Tyfone solution is based upon a 'mobile phone memory card with SmartCard RFID/Near Field Communications (NFC) technology' - that plugs into the memory card slot on mobile handsets suitably equipped. I'm not sure what percentage of handsets have those slots - but I suspect it'll grow as more functionality is added to them.
“With over 100 million projected users of mobile payments by 2011, financial institutions are aggressively seeking a technology roadmap, yet until now those solutions have involved total reliance on wireless operators and handset manufacturers,” said Thomas Spitzer, CEO of Tyfone.
“Tyfone is uniquely qualified to chart the road ahead with the industry’s only solution that combines a turnkey mobile banking platform along with a patented mobile payments offering that is device- and carrier-agnostic. We look forward to sharing our vision for the future of mobile financial services with the attendees of PAYMENTS 08.”
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