Verizon Partnering with Payfone for Mobile Payments

Posted by at 10:23 pm on June 12, 2011

Verizon Wireless plans to expand the capabilities of its BilltoMobile service through a new partnership with Payfone. Payfone is a privately-held company that creates mobile payment systems and forges relationships with online merchants. The partnership will allow Verizon Wireless customers to purchase virtual goods online directly from their handsets and have their Verizon Wireless accounts charged.

Merchants that partner with Payfone will place a “buy” button on their mobile web sites that when clicked will make the purchase happen. In order to purchase more expensive, physical goods, users will have to link a credit card to the account. Verizon plans to launch the service later this year, and said it will be compatible with all its handsets that have mobile web browsers. No software updates will be needed.

Verizon hopes the expanded presence and capabilities of this system will help it to grow more quickly. Verizon is also part of a multi-carrier initiative called ISIS, which will use NFC (near-field communications) for tap-and-go mobile payments.

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