Mobile Payment via SMS - Gemalto

Gemalto announced the implementation of its secure mobile payment via SMS (Short Messaging Service). This solution allows user to do secure mobile payment by sending an SMS, enabling consumers to pay with their mobile phone anywhere.

Currently, Gemalto is providing this mobile payment system via SMS to Belgian mobile operator BASE. Gemalto supplied BASE with a mobile payment application compatible with third generation SIM cards, incorporating the m-banxafe technology designed by Banksys, the company behind the authorization, security and guarantee of electronic payments in Belgium. 

Procedure of Gemalto secure mobile payment via SMS :

The payee enters a payment request into his/her mobile phone. The payer receives this payment request on his/her mobile handset and accepts the transaction by entering the secret code as service activation. Both parties then will receive an SMS containing confirmation of the transaction.

The m-banxafe technology able to link subscriber’s SIM card and the banking account. During the activation process, the customer selects his mobile payment PIN code through the menu of his mobile phone. Then he inserts his banking card into the point of sales terminal of a BASE shop or into an ATM. He just has to select the activation option of the menu to create the link between his banking details and the PIN code on the SIM card. Banksys’ m-banxafe enables reloading of the calling credit and live access to the account balance.

This secure mobile payment via SMS, has been designed in cooperation with all Belgian banks, ensuring the same level of security as that achieved with a banking card.

Source: Secure Mobile Payment via SMS