Simfonie Mobile Payments - 65.99.215.17
Transcript of Simfonie Mobile Payments - 65.99.215.17
Business propositionFor the Operator (Carrier):
Increase the subscriber base. New payment services offer a
strong marketing platform to attract new subscribers.
Enhance customer loyalty and reduce attrition. By inte-
grating mobile payment services into bank and merchant
transactions, customer loyalty is enhanced - both by the
delivery of more services compared to competitors, but also
by increasing the complexity required to change suppliers.
Major increase in ARPU. Simfonie provides a cost-effective
payment channel (including micropayments) which drives
volume through the operator network. The mobile payments
channel allows purchases anytime, anywhere, for any mer-
chant, increasing mobile network traffic and revenue.
Building value into your customer relationships. In-depth
reporting on customer behaviour provides important market
intelligence that allows operators and merchants to form
more meaningful and valuable customer relationships.
New revenue streams. New added value services can be of-
fered with the potential for additional charges, including the
opportunity to introduce non-network revenue streams.
For the Bank:
Increased transaction volumes at a lower cost. Mobile can
be a secure payment channel similar to ATM and EFTPOS but
with a broader reach and using a much lower cost network.
Access to a broader customer base. The mobile phone is
a highly effective channel to the Youth market. In develop-
ing countries, where there is often a mobile phone infra-
structure but no traditional banking infrastructure, mobile
phones can be the only way to offer banking services to ‘the
unbanked’.
Supports a traditional revenue model based on standard
card fees and charges. Simfonie gives the ability to use a
mobile phone to make prepaid deposits and earn interest
income, and carry out the usual bank account activities with
associated transaction fees. Merchant acquiring fees and
interchange revenues are also unaffected.
Simfonie is a proven, market leading product
which enables a mobile phone to operate as a fully-
mobile payment device supporting debit, credit,
and prepaid accounts from a network-based virtual
‘wallet’ – all with bank-level security.
Simfonie gives mobile users full access to a bank account,
using their phone to make online payments and street retail-
based payments (including credit card purchases), top up
their mobile phone accounts, and remit funds to friends and
relatives - in fact, nearly all common financial transactions
and banking services.
The breakthrough capability of Simfonie is to offer bank-level
security and non-repudiable payments and transactions ini-
tiated via a mobile phone. This opens up the mobile network
to become a robust real-time payments channel available to
merchants, operators and banks.
In the new and rapidly emerging mobile payments market,
GFG Group has two very important points of difference - the
product and the company behind it.
Simfonie is a proven product with great depth of functional-
ity, scalability and security – and strong customer referenc-
es. Equally important, the company, GFG Group – was born
from the banking industry and has a strong background in
providing high volume, high-security card management solu-
tions to banks and financial institutions around the world.
GFG understands banking, security, switching – and the
importance of 24 x 7. GFG has the product sophistication and
industry expertise to go beyond mobile top-up, enabling
our customers to implement the most ambitious and
comprehensive mobile payments
solutions.
GFG Group has the experi-
ence and expertise to take
overall responsibility for the
full project. As a supplier of
specific and unique software
applications, GFG Group will
work to fit the operating model
specified by the customer and
their business partners.
For example, where
a solution requires
a prepaid account
capability, GFG
Group’s proven
architecture
meets the need.
GFG GROUP | The leader in payment solutions for the global market
Market applicationsAirtime Top-up own/other mobileAllows a subscriber to top-up their own mobile phone or a
friend’s mobile phone from credit/debit card, bank account
or prepaid account at their convenience. As an alternative, a
subscriber can be prompted to perform a top-up once their
airtime has reached a pre-defined balance or at regular
intervals as set by the customer.
Wallet Management (eMoney)Gives a subscriber the option of registering a virtual wallet,
in addition to physical card-based Payment Instruments,
such as credit and debit cards. A virtual wallet resides on a
Subscriber’s or Merchant’s mobile phone and is equivalent
to a card or bank account in terms of the ability to transfer
funds to and from it to pay for or receive payment for goods
and services.
RemittanceAllows a subscriber to remit funds internationally (via the
services of an agent) to a family member or a friend.
Domestically, a subscriber is able to initiate person-to-
person funds transfers from their selected accounts to a
family member, friend, or in payment of an ad hoc purchase.
GFG GROUP | The leader in payment solutions for the global market
Reseller Management Enables support of the ‘processor’ model traditionally used
in North America but now emerging in other markets.
Bill PaymentFacilitates in establishing and maintaining regular payments
to Merchants – e.g. power company.
Product PurchasesAllows Subscribers to make purchases of goods and services
from Merchants that have been established in Simfonie by
using one of the payment instruments they registered in the
system.
Merchant ManagementEnables an Operator to act as an Acquirer for a Merchant’s
financial transactions.
Mobile BankingAllows subscribers to initiate account related transactions
– e.g. balance enquiry, mini statement,& funds transfer.
Simfonie™ Core• Registration
• Virtual wallet
• Security management
• Interfaces to interchange network
•Support for specific card brands
• Risk management
• Online historical transaction reporting
• Monitoring and audit logging
• Customer relationship management
• Merchant branch structures
• Registration of merchant devices
• Reporting
Further informationGFG Group operates from offices in Auckland
New Zealand, Melbourne Australia, Manila,
Singapore and Dubai.
The company’s core research and development
team is based in Auckland with consultants and
technical staff located in the international offices to
provide front line 24/7 support for customers in
multiple geographies.
Phone: +64 9 966 7041
Email: [email protected]
Address: GFG Group Limited
Level 10, Qantas House
191 Queen Street, Auckland
PO Box 5825, Wellesley Street
Auckland, New Zealand
www.gfg-group.com
Key functions and featuresSimfonie enables payments from an existing bank account,
prepaid account and debit or credit cards. Customers can
associate one or many cards/accounts for payments from
their mobile phone.
The number and type of accounts is parameter controlled
and can be set per operator and/or financial institution.
Simfonie maintains the customer profile (virtual wallet),
which cross references the mobile phone to payment
instruments. Information received from the handset during a
transaction is used to retrieve the account information from
the customer’s wallet to build the financial transaction for
forwarding to the customer’s financial institution.
Customer authentication can include a unique PIN/
password for mobile payments, which is authenticated at the
Mobile Payment application, through to entry of the Card PIN
at the handset for authentication by the card issuer.
Full encryption is supported from handset right through
each step of the transaction. Host Security Modules (HSM)
are supported for encryption/decryption and PIN verification.
Simfonie interfaces with handsets of all capabilities – Jew
word, Java applet, STK.
Simfonie can be installed across multiple servers at
multiple locations, running across Windows, Linux and
Unix environments. All interfaces are TCP/IP compliant with
other protocols available on demand. ISO 8583 and AS2805
message structures are supported.
Simfonie is able to support the processing of Card present /
Card not present transactions which can be established for
each particular card type.
Simfonie has the flexibility for customers to register
through various channels, e.g. ATMs, Bank Branches, Call
Centres, Websites and mobile phone.
Simfonie has the capability at operator / bank or customer
level of setting parameters to manage their overall risk
exposure.
Outsmarting the competitionAt SMART Communications – the Philippines’ leading wireless
services provider – GFG Group powers the innovative SMART
Money and SMART e-Load solutions enabling in excess of
20 million customers to use their mobile phones to make
payments. This includes MasterCard card issuing and
management functions, as well as a points-based loyalty
system.
Innovation at VodafoneAt Vodafone New Zealand – a major innovator in the highly
competitive and mature New Zealand
mobile telecommunications
market – Simfonie is used
to enable mobile top-up as
the first step in a much more
comprehensive mobile
payments solution.
GFG GROUP | The leader in payment solutions for the global market