Italy’s TAS Group, a software vendor, has signed a partnership agreement with Geneva-based Payair South Europe, a subsidiary of Sweden’s Payair Technologies, to jointly launch a platform for mobile commerce.
The new offering integrates the commerce platform designed by Payair with a customisation solution supplied by TAS, supporting complex realities, such as the large-scale retailers, that require advanced automation of their purchase and payment processes. The platform will also adopt the TAS multi-acquiring tool, to allow the management of different acquirers. It is supplemented by value-added services such as geo- marketing, advanced CRM and business intelligence.
The new solution, based on Quick Response Code (QR code) reading, supports electronic commerce (eCommerce) transactions, proximity payments via near field communications (NFC) and remote payments via QR code.
The operations enable the user to register his credit card and, thanks to the Cloud architecture, no sensitive data are saved on his smartphone and exchanged during the transaction. To ensure security, all Payair procedures and service centers are Peripheral Component Interconnect and Defence Security Service (PCI/DSS) certified. The purchase takes seconds to be completed and through the dedicated app – available on App Store, Google Play and Windows Phone – the user can scan a QR code specifically related to a product, a merchant or a transaction, then safely finalise the transaction by entering a proprietary personal identification number (PIN).
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.