Online M-commerce payments – now set them as “Card Present” transactions

Online M-commerce payments – now set them as “Card Present” transactions

The global growth of Online M-commerce transactions prompted us to look at payments here differently. These are?always “Card not present”, necessitating the 2 FAC authentication with any method, and the globally adopted route is the SMS based OTP.

Then the recent RBI mandate of tokenising all cards “if saved” on the gateway or the merchant end brings in multiple challenges on standardisation, compliance, security etc., and still had the issues on 2FAC with the SMS based OTP.

We looked at it differently - making online card payments smoother, simpler, more secure and cheaper and brought in :

1. Card tokenisation on the mobile device itself in a "token vault"
2. Integrating this “Token vault” to an In-device M-commerce portal at the payment stage
3. Enabling this as a “full EMV” transaction
4. Thus making this –

• Cheaper : lower “card present” MDR applicable
• Simpler : no card data entry, cards are “pulled” out from the in-device token vault
• Secure : tokenised cards hosted in the user device, not online
• Faster : no waiting for the 2 FAC OTP to come in
• Better yields : eliminating the ~20% loss in transactions due to SMS OTP delivery issues.

1. And can also handle online card based M-commerce payments with the payment push notification being handled through the mobile.

A bit of disruption, innovation and problem solving at our end, but the solution is ready and there.

Looking forward to joining hands with more Online / mobile M-commerce companies and build better operational economics for them. Changing the way the world pays….. joint the movement.

Contact us for more information here, we're here to help you improve your bottom line !!