FIS, a provider of banking and payments technology, has launched a mobile payments solution that allows consumers to use most smartphones to make purchases at the point-of-sale (POS) and for online shopping. This cloud-based payment solution is adaptable and secure, requiring only downloadable applications for both consumers and retailers. Importantly, the mobile payments solution can be built into retailers’ and financial institutions’ existing mobile applications, preserving brand equity and strengthening customer loyalty.
The FIS Mobile Wallet provides consumers with another option to electronically pay for goods and services. Consumers with smartphones download an application offered by their financial institution or retailer, attach their payment card information and then use the solution to make a purchase. The FIS Mobile Wallet is also secure since no payment credentials (e.g. card numbers or PINs) are provided to the POS device or stored on the smartphone, providing consumers with peace of mind that their information is private and transactions are safe.
“The FIS Mobile Wallet can be delivered to financial institutions and retailers alike,” said Gary Norcross, chief operating officer (COO), FIS. “The launch of this innovative new capability extends and complements the FIS mobile suite significantly beyond competitive offerings.”
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