MoBank Group targets retailers with mobile payment solution | Mobile Payments | Mobile Entertainment

MoBank Group targets retailers with mobile payment solution

MoBank Group targets retailers with mobile payment solution
Tim Green

by

Payments / Commerce / March 8th 2012 at 11:49AM

Says its MoPowered service can launch functional m-commerce sites in weeks

MoBank claims there's a huge market to be addressed in the UK as it believes 80 per cent of merchants don't currently have a dedicated mobile presence.

That's why it set up MoPowered as a managed service to integrate a mobile retailing platform with minimal disruption to a merchant's everyday business. It comprises everything from m-site build and cataloguing to a secure mobile checkout.

The solution is PCI-DSS compliant (Payment Card Industry Data Security Standard) and compatible with 3D-Secure Schemes (such as Verified by Visa and Mastercard Securecode).

Dominic Keen, CEO of The MoBank Group, said: "Our own data aligns with the recent statement made by Google which states that up to 15 per cent of online traffic is via mobile.

"This means that not having a mobile site is like closing your website for one day a week. Our models suggest that approximately £10 billion of commerce is being lost each year, a significant chunk of the UK economy.”

The MoBank Group already works with HMV, Waterstones, Game and others.