Vesta Launches Updated Mobile Payment Platform

Vesta Corp. has announced the availability of version 5.0 of its secure Mobile Payment Platform. Vesta says the new platform enables wireless operators worldwide to increase subscriber ARPU, accept more payment types and achieve Payment Card Industry (PCI) compliance through a managed service that includes a portfolio of new payment services and features.

“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, Vesta says 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.

Vesta says it continues to place utmost importance on safeguarding the security and privacy of customer payment information. The company’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 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, according to the company.