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MACH to provide financial clearing and settlement services to eBIZ.mobility
MACH, the clearing and settlement partner for mobile-based transactions, has announced that it will provide Financial Settlement services for eBIZ.mobility's OneTouch Online Purchasing solution for digital payments.
OneTouch Online Purchasing, the online payment processing service, gives trusted service providers including telecom operators, banks and ISPs the ability to provide consumers with an easy, fast and secure multi-device payment option for content downloads. Purchases are charged directly to consumers' existing accounts via their service provider, either as pre or post-paid.
OneTouch Online Purchasing is the only online payment processing service that enables service providers to authenticate users directly. Only the service provider is aware of the identity of each consumer, resulting in high level privacy and security for online buyers.
Based on patent-pending Federated Payment technology, the OneTouch Online Purchasing payment system complements the service provider's existing content billing infrastructure, through a simple interface. By adding some simple code extracts to a payment page, online merchants can immediately increase their sales from an expanded base of potential customers including those without credit cards, or those who prefer not to use them online.
OneTouch also enables trusted service providers such as mobile operators to become a global payment processing service for their subscribers, as it eliminates the need to establish or maintain a direct relationship with online merchants.
Bruno Pagliuca, Senior Vice President Financial Clearing at MACH, commented, "The agreement with eBIZ.mobility represents our willingness to lead by example in the evolving telecoms industry. We have been working with eBIZ.mobility since 2005 and their clear strategic vision, and innovative technology has earned our trust. We believe that eBIZ.mobility's OneTouch Online Purchasing payment system will generate more revenue for operators, as the exploding market for content downloads continues to move to the open web at the expense of walled gardens. It offers a way for our mobile operator clients to stave off the threat of becoming low margin bit pipes and offers a lucrative alternative payment channel," Pagliuca continued.
Jeremy Kagan, eBIZ.mobility's CEO, noted, "MACH's proven reliability and broad reach to the majority of mobile operators worldwide makes them the best partner for providing financial settlement to participating federated merchants. This is a partnership that we are confident will benefit our customers as we continue to expand the OneTouch Federation."
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