Cyphermint Adds Credit and Debit Card Linking to Mobile Payment System

Adding to its global mobile strategy, Cyphermint, Inc., the company has now added mobile banking and bill payment capabilities on a consumer’s mobile phone or other wireless device securely linked to a consumer’s credit, debit, stored value card or bank account through its PayCash Mobile platform.

PayCash, with its enhanced patented digital security, authentication and processing features, enables banked and un-banked mobile phone users worldwide to conduct bill payment, mobile banking, person-to-person transfers and retail payments with their cell phones. PayCash Mobile is designed to integrate credit, debit, stored value cards and bank accounts for funding of mobile payments such as mobile banking, bill payment, mCommerce and other payment related services.

PayCash Mobile is a storefront of technology tools and applications, security standards, and business models that enables financial institutions, merchants and consumers to engage in customized mCommerce mobile payment services regardless of the cell phone make or model or the consumer’s current service providers. The account can also be linked to a stored value card (SVC), Visa, MasterCard, American Express, Discover or any merchant gift card that allows users to load funds into the account as well as withdraw money at an ATM.

Backed by PayCash’s inherent 1024-bit encryption and its years of experience in the Internet, kiosk and mobile payments markets, this highly secure and highly scalable technology platform enhances PayCash’s already impressive financial portfolio of products and services: PayCash NOW Debit Card, the PayCash Mall, PayCash BillPay, PayCash Remote and the PayCash Wallet. The mobile platform is both flexible and complementary to existing technologies as it can seamlessly integrate with the existing global wireless technology and payments infrastructures.

"With more than 2 billion mobile phone users worldwide, who already browse the Internet, check their email, and download games and music, the next logical step is to shop and pay for goods and services on their cell phones," said Joe Barboza, president and CEO, Cyphermint, Inc. "Our mobile platform enables innovative retailers and financial services companies to extend their customer reach to wherever the customer is globally with a highly secure, easy-to-use mobile payment solution."

Unlike other solutions available in the mobile application market today, PayCash Mobile is an easy-to-use menu driven real-time solution that is highly secure unlike text messaging services (SMS) where unsecured payment information can be sent to a third party for payment processing services. The "One-Click" pay menu is designed to make it easier for cell phone users, financial services and retailers to deliver a personalized and integrated consumer experience across a range of Internet-enabled mobile devices on the market today while protecting the consumers confidential data.

PayCash Mobile’s financial and retail components allow consumers to configure the menu of services they want to interact with on their mobile device. Users can also schedule mobile alert notifications when a payment is due and, with a single click, pay the bill and receive confirmation without entering any unsecured credit card or bank information on their cell phone.

PayCash Mobile transactions are also protected by a user PIN (personal identification number), does not require complicated downloading and works with any Internet-enabled device. The user’s PayCash account can be managed across any platform such as the cell phone, personal computer or any PayCash enabled kiosk, as a supplement and complement to busy and demanding lifestyles.