Anderson Zaks and Tola Mobile introduces new mobile payment solution

AdobeStock 129565968The new payment solution aims to enable customer to experience a secure and reliable transaction processing. (Image source: pressmaster/Adobe Stock)Europe’s payment service provider Anderson Zaks has partnered with Tola Mobile to develop a new payment solution for customers with option to credit balance on their mobile phones

Available in both pay as you go (PAYG) and contract phones, the new payment solution aims to enable the customers to pay for goods and services at point of sale with their phone number or just using their phones.

The solution will combine Anderson Zaks’ payment gateway that will be integrated with Tola Mobile’s billing platform to provide an extension to Anderson Zaks’ existing card payment services.

The new solution aims to enable customers to pay at point of sale with their mobile phone instead of using debit or credit card. The telephone number is typed into the chip and pin device connected to the Anderson Zaks or Tola Mobile payment platform which determines the network and value of the credit stored (PAYG) or contract credit. Once validated, an authentication number is sent back to the mobile, which the phone owner types into chip and pin or gives to the merchant to authorise the sale and confirm the transaction.

Unlike the charges on credit and debit cards, the transaction will be handled at zero cost, said Anderson Zaks.

Iain High, managing director at Anderson Zaks, commented, “This new solution will offer merchants a real alternative to cash and card credit and debit card payments and widen payment choices for customers.”

“For Anderson Zaks working with Tola Mobile to deliver this additional flexible mobile phone payment option extends our portfolio as a payment gateway provider to offer additional alternative payment transaction solutions for merchants now and for the future,” High added.

The new payment solution will be demonstrated at the Tola and Vodafone Event ‘Monetising Mobile& Digital engagement, which will be held in London on 4 October 2017. Expecting more than 2000 attendees, the event will cover the issues and challenges of the technology, customer engagement, mobile and payment spectrum.

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