White-label mobile commerce solution changes future for bank mobile payment strategies
SINGAPORE, Oct. 8, 2012 /PRNewswire/ -- Swiff, the global innovator of secure mobile commerce solutions, today announced that its mobile point of sale (mPOS) platform has been certified as EMV Level 2 compliant; the "gold standard" in card payment security certification. This sets the stage for banks and their merchant customers to introduce new retail experiences, with secure payments on the go.
Payment systems that comply with the EMV standard - commonly known as chip & pin - promise improved security and address industry-wide concerns about fraud detection and prevention. And merchants who use EMV compliant chip-enabled equipment and processes enjoy lower interchange fees on transactions. EMVCo - jointly owned by Visa, MasterCard, American Express and JCB - administers the testing and approval process for confirming compliance with the EMV standard. The Swiff platform has also achieved PCI DSS Level 1, the highest standard of secure payments processing certification from the Payment Card Industry Security Standards Council.
"We designed Swiff from the ground up, with the express intention of positioning banks, and their merchant customers, at the heart of a secure m-Commerce revolution," say Jerome Cle, CEO and Founder of SCCP Group. "We're already moving towards a cashless world but security must be at the heart of all payment process innovation. This is why we are thrilled to join the elite club of mobile payment technology providers to have been awarded EMV Level 2 certification."
Commenting on the business impact for Swiff, Erik Host-Roness, Executive Vice-President of SCCP Group says, "The announcement of our EMV certification has released massive pent-up demand for the Swiff platform at banks in Asia and beyond because they recognise that better payment experiences can boost loyalty and incremental revenue. Consumers and merchants everywhere can now confidently embrace new, highly secure, and low-cost ways to pay and get paid."
Several countries in the Asia-Pacific region - including Singapore, Malaysia, Indonesia, Thailand, Philippines - have already completed the transition to chip-enabled debit and credit card acceptance. "As a global payment technology company that continuously strives to enable fast, secure and reliable digital currency for consumers, Visa welcomes innovative technologies that grow the cashless payment acceptance footprint, and security standards that help keep the payment ecosystem secure," said Mr. Wei-Han Kim, Head of Payment Acceptance, Southeast Asia & Australia/New Zealand for Visa International. "This is especially true when supported by EMVCo certification, which will help drive more secure card transactions in the region, a measure which is important in helping keep payment fraud levels at historic lows."
More information can be found at www.goswiff.com.
About SCCP Payment Services Holdings
SCCP Payment Services Holdings is a global innovator in secure m-Commerce technologies. Incorporated in 2010, it brings together a suite of end-to-end secure payment solutions to card issuing and merchant acquiring services around the world. Using the company's unique, and fully patented, proprietary technologies in payment processing and authentication, the merchant customers of financial institutions are able to deploy one integrated payment solution. Headquartered in Singapore, SCCP delivers tailored, white-label m-Commerce solutions for its customers in Asia Pacific, Africa, Europe and North America. For more information on SCCP, please visit us at www.sccpgroup.com
For media queries, please contact:
Liu Jiamin/Andrew Wong, ICON International Communications
sccp@iconinternational.com.sg, +65 6220 2623