Verizon and Payfone Team Up to Offer a New Mobile Payment Option

Verizon Wireless wants to offer its customers another solution to make purchases through their mobile phones, other than the current one offered in partnership with AT&T and T-Mobile USA called ISIS.

The carrier has just announced that it has signed a new agreement with Payfone, a well-known company that offers mobile payment processing services, to provide Verizon's customers with a new mobile payment system.

Although the availability of the upcoming service has yet to be announced, the companies promise that the new payment solution will allow Verizon customers to make online purchases from their smartphones, tablets and PCs using numerous payment methods.

Some of these payment solutions include charging purchases to customers monthly wireless bills or using traditional payment methods via multiple financial institution partners.

Our relationship with Payfone complements the part of the mobile payments equation we’re already working on with our Isis joint venture. We approach the mobile payments arena from a customer’s perspective. As we move forward, the most important goals will be security, privacy and simplicity,” said Greg Haller, marketing vice president, Verizon Wireless.

In addition, Payfone will also provide Verizon customer with other important features, including intelligent routing, pre-authorization and authentication, both designed to reduce the friction and fraud that affect sales conversion and revenue yield for merchants and operators.

Through our relationship with Payfone, we will be able to quickly offer value to our customers by offering them greater choice and a simple, safe and secure purchasing experience when shopping online from their smartphones, tablets and PCs,” concluded Haller.

According to Verizon, the new payment option offered in partnership with Payfone is a much more complex extension of the carrier's BilltoMobile service, which allowed customers to make mobile online purchases over goods and availability, but at a limited level.

As soon as it becomes available, Verizon customers will be able to take advantage of the one-click payment option via any popular mobile browser.

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