payfair Products
payfair@POS - Revolutionary
Pay-by-Phone system starts
payfair developed payfair@POS, a revolutionary
solution that allows consumers to pay their
merchants by simply using their mobilephones.
Knowing that credit card skimming at restaurants,
gas pumps and other retail establishments is a
major contributor to credit card fraud and identity
theft, payfair@POS solution is a real alternative to
combat fraud attempts since no card is used on
the POS terminal. Only phone number, secret
code and a call from the server are needed to
authenticate safely the customer.
In all cases, the Hardware (mobile phone) needs
to be in possession of the user. For low value
transactions or for specific retailers, the customer
could be configured to be authenticated only by
his/her secret code or sound only. But in general
the double authentication is recommended
(secret code + sound).
To summarize - payfair@POS helps:
• Reduces fraud on existing schemes and therefore
losses by the issuer
• Allows merchants and acquirers to accept strongly
secured transactions without EMV technology on POS
terminals
• Allows POS transactions for card-less users
• Allows mobile phones holders either to pay on
internet or to withdraw on ATM or to purchase on POS
with the same mobile device, and the same virtual
(or real) card associated to the mobile.
• Introduces new technology and being state-of-the art
• payfair@POS could also be run on simple cash
registers
• The Merchant POS terminal displays the purchase
amount and invites the Customer to enter his mobile
number and secret code
• The payfair Bank Directory checks that the mobile
number is eligible for the sound authentication method
• The issuing bank checks the validity of the secret code.
Our platform calls the customer's phone. As soon as
the customer answers the call, a sound partition is
sent to the POS and the customer is authenticated
once the customer's phone hears it
• The transaction is then submitted for online
authorization.
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