Enables NFC contactless payments with mobile phones
Tyfone, a provider of mobile financial services infrastructure and integrated mobile payments capabilities, has announced that OnPoint Community Credit Union has selected its ‘u4ia’ platform as the infrastructure behind its mobile banking strategy.
Reportedly, OnPoint will leverage Tyfone’s services to deploy mobile banking services initially, with NFC contactless mobile payment capabilities to follow. Tyfone has said that its technology integrates the Secure Element (SE), an NFC contactless chip and antenna on standard Secure Digital (SD) memory cards. Using a memory card as the SE, allows memory card-enabled phones to instantly capable of transactions and contactless payments.
Jim Armstrong, senior vice president of technology, OnPoint, said: “Tyfone came through with a comprehensive platform that exceeded our requirements, but their integrated NFC contactless mobile payment capabilities were what really sold us. Tyfone’s unique secure memory card technology gives us exceptional flexibility to deliver some very exciting new member services down the road.”
Thomas Spitzer, CEO of Tyfone, said: “OnPoint recognizes that offering their members mobile financial solutions is a critical strategy to build on their preeminent position in the marketplace. Being able to offer everything from secure mobile banking to mobile payments will enable us to partner with them for the long term.”