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Riding the subway in Manila and performing other micro payment retail activities just took a substantial leap forward today in terms of speed, security and reliability. Value Card and Mobile Payment Service Corp., which operates the micropayment networks in Philippines, and RFCyber Corp., the company dedicated to delivering an open Trusted Service Management (TSM) platform to mobile operators and Electronic Money (eMoney) operators, today announced the signing of an agreement to develop and deliver the Value Card eMoney system for the Philippines. RFCyber Corp. will deliver the micro payment ticketing system (MPT) that will handle all the operation and clearing of the card based and mobile phone based Value Card eMoney, i.e., Valuecard and Value-MO, respecitvely; the Trusted Services Management platform to manage the lifecycle of the smart card devices; the Mobile Financial Services (MFS) platform to support the RFID based smart card inside customer's mobile phone. As a result of this agreement, end users experience faster transaction time both at the entry and exit gates of the subways and at the retail merchants. The deal marks RFCyber's first agreement with a Philippines operator.
Value Card's goal is to continue to provide both new and exciting wireless services to its customers after the initial launch of the eMoney application. According to Joseph Issifu, President of Value Card, "Value Card has chosen RFCyber's flexible and powerful platform to offer a solution that will provide security to future applications including mobile banking, secured ID application, and content specific advertisement. RFCyber's ability to respond to our specific requirements as we developed a solution for the marketplace distinguished them from their competitors. We selected RFCyber because their technology addressed our need for a carrier grade solution with the flexibility built in to enable us to be first to market with both a card based and mobile phone based micro payment services."
Valuecard, the Value Card's initial card based eMoney, deployment will include subway transit, retail merchants to be implemented in summer of 2009. The second phase to be implemented in fall, 2009 will include portable mobile phone based devices for Value-MO and the RFCyber's MFS platform, offering even faster speeds and more convenience access on a subscription basis.
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