Mobile solution to process credit cards

[img_assist|nid=8585|title=|desc=|link=none|align=left|width=69|height=100] An innovative mobile commerce solution under the name Payment BuyVoice is being introduced in the USA by Planet Payment, a leading international multi-currency payment and data processor. The company announced recently the commercial startup of the system. With Payment BuyVoice retailers are enabled to accept credit cards from any mobile phone or landline in a cost effective, secure and convenient way.

When processing a credit card payment a merchant needs to dial the dedicated Payment BuyVoice toll-free number. Then the merchant’s credentials are identified by the application when password and PIN are being validated. After this the relevant card details are prompted to the merchant. Payment BuyVoice is equipped with common fraud-control functions, including address and card verification value (CVV) code collection. The transaction is submitted for authentication, then the merchant is communicated back and receives payment for the transaction directly from their merchant bank.

Using this application merchants do not need to purchase any additional hardware as they can get access via their existing telephone and mobile carrier. Besides, there is no need in installation of any software applications onto the merchant’s phone.