“Vesta’s new payment platform offers a wide range of benefits to mobile operators,” said Chris Parsons, chief marketing officer at Vesta Corporation. “In addition to facilitating secure transactions, operators can also enjoy significant time to market advantages and a full suite of innovative features. Having processed hundreds of millions of transactions, Vesta has the experience, knowledge and agility to effectively deliver the payment technology desired by mobile operators and their subscribers.”
For operators, the 5.0 version of the Mobile Payment Platform offers a dynamic business reporting portal and Vesta’s token service that provides robust self-care functions and isolates operators from PCI compliance requirements. Enhancements for mobile subscribers include Vesta’s quick code functionality which enables even faster payments through multiple channels; wallet functions supporting multiple users and payment devices; and the integration of social networking applications where subscribers can request, send and receive payment-related gifts.
With the growth of mobile payments, and the increased diversity of new payment channels and methods, Vesta continues to place utmost importance on safeguarding the security and privacy of customer payment information.
Vesta’s Mobile Payment Platform is fully compliant with the PCI data security standard (PCI DSS) as mandated by the payment card networks, ensuring best practices when handling sensitive card holder information. This compliance relieves the operator from the costs and burdens of maintaining compliance themselves, even through emerging channels like handset applications.
Another key benefit of the Mobile Payment Platform is that it allows operators to increase subscriber ARPU while reducing churn. This is accomplished through Vesta’s patented, industry-leading fraud engine which increases the rate of successful payments, and by analyzing the customer data that flows through the Mobile Payment Platform.
Vesta helps mobile operators better understand customer behavior by analyzing payment usage and demographic data, allowing the operator to effectively up sell and cross sell, establish targeted marketing campaigns and optimize their prepaid and postpaid subscriber portfolios.
“As mobile consumers’ payment preferences evolve and they pay via increasingly diverse methods, more and more mobile operators are embracing the flexibility, convenience and security our platform delivers,” continued Parsons. “Vesta’s new Mobile Payment Platform release enables operators to ensure customer needs are met as seamlessly and securely as possible.”
To learn more about Vesta’s Mobile Payment Platform 5.0, visit Vesta Corporation at Mobile World Congress in Barcelona from 15–18 February 2010.
About Vesta Corporation
Headquartered in Portland, Oregon, with operations in Europe and China, Vesta has been a pioneer and worldwide leader in electronic payment solutions since 1995. Vesta has established long-term, successful relationships with leading international companies including AT&T, Boost Mobile, China Mobile, China Unicom, Cricket Communications, Meteor Mobile Communications, O2, Sprint, T-Mobile, Tele2, Verizon, Vodafone and Yoigo.
Source: Company press release.
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