Consortium Launches Global Mobile Payment Platform

The Global M-Payment Consortium has introduced CodeOne, a global mobile payment platform that it claims is built entirely on a standards-based interface and off-the-shelf hardware components for service providers in the finance and banking sector.

The group adds that CodeOne is ready to deploy and capable of processing the flow “of credit card-like sales transactions, potentially tapping into more than 3.8 billion points-of-sale directly from already capable world GSM cell phones.”

The consortium describes itself as “an established US and Brazilian-based company with local partners, sales offices and centers of excellence in several countries, and a global support infrastructure.” CodeOne supporters and associated members are capable of providing a full range of professional services through a worldwide professional network of people.

The group explains that the CodeOne global mobile payment service began as a component base of the Global System Mobile Communications (GSM), the European standard for digital service.

"CodeOne is a unique platform that is able to capture, format, and to interface GSM mobile phone payment transactions with acquirers' credit card companies and banks, helping these companies to differentiate and generate new revenue from mobile payment services," said Ivan Silver, consortium president, in prepared comments.

CodeOne Mobile Payment Platform can be configured to allow compatibility with a current acquirer's Point-of-Sales (POS) network. CodeOne provides big footprint coverage, since it is compatible with all GSM mobile phones and all mobile telecom operators.