Startup Hopes to Replace Credit Cards With Mobile Devices
Technology company DigiMo has announced the release of a mobile payment platform it says provides a "true mobile payment solution," requiring no hardware or software modification at either the point of sale or on a mobile device for consumers looking to complete transactions.
The technology can integrate customer loyalty programs, coupons and other discounts and builds in key security functions. It can be operated from any handset or tablet computer with at least 2G functionality, a company press release says.
Consumers register for the service online, providing a preferred billing method and phone number. Company CEO Yossi Yarkoni calls it "an independent system that works at virtually any point-of-sale, replacing cash and credit cards with mobile handsets."
The service is aimed at online companies looking to integrate a mobile payment service across multiple retail points of sale, and, according to the press release, is designed to accommodate "online giants"—by which DigiMo seems to mean the Googles, Apples, Facebooks, Microsofts and PayPals of the world, all of whom were on the itinerary this week for a Silicon Valley tour by DigiMo and other Israeli mobile startups.