MobilePay – Pay for Things From Your Phone, No Widgets Required

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Did you arrive at the store, find all of your stuff, and get to the checkout counter only to realize you forgot your wallet?  Well, with MobilePay, that won’t matter.  If you have your phone, you can pay.

The idea is pretty simple and is a good one.  You don’t need any special gadgetry added to your phone either.  Instead, you link a credit or debit card to your MobilePay account and pay participating merchants by just clicking on the MobilePay app, entering your password, approving the transaction, and waiting for the store’s cash register to print you a receipt.  That’s it.

MobilePay integrates with the merchant’s point-of-sale (POS) system, so your phone’s MobilePay app synchs with the cash register to make a seamless transaction.  For the customer, all that’s needed is an account and the app for your phone.  The app uses geolocation to know which store you’re in, so there no mistaking who you are and who the merchant it.

The merchant sets up with MobilePay online in a setup that’s similar to PayPal.  The credit card information is never shared with the merchant, is processed for them (separate from their existing card processor, if they have one), and the money can be transferred to any bank at any time easily.  No special equipment is needed, but if the POS machine is attached to the Internet, it can likely be integrated with a MobilePay account.

What’s more, Potential customers can log into MobilePay from their phone and find merchants in their area (based on geo-location info), which means businesses who use MobilePay are likely to see more business.

This is a very cool marriage of mobile payments and brick-and-mortar stores.

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