The service is being developed for over a year and already has a partnership with the major Portuguese banks, as well as the accession of several traders who joined the pilot project initiated by SIBS and the coming months will test the system and also prepare the network for many possibilities of use.
“The goal is to pay online or in-store purchases only using your phone in a safe and practical way”, explains Luis Flores, administrator SIBS SGPS, noting that consumers have great confidence in the ATM network and that the network is the Portuguese payments that records a lower level of fraud in Europe.
The Way MB will be available for iOS and Android smartphones and creates an association between mobile phone number and email client and your debit or credit, facilitating the payment process on websites or even locally in stores that offer the service.
Luis Flores ensures that the system is completely safe, since all transactions are processed by SIBS and the user does not have to share their data with the merchant, the transaction authenticated on the phone through the use of a PIN code.
Teresa Mesquita, director of product management at SIBS FORWARD PAYMENT SOLUTIONS admits that there are several possible scenarios of use of the service, responding to digital commerce models that are becoming more frequent and that make customers search the Internet but buy at the store, or moving to a commercial surface and try to compare prices but then buy the products in an online site.
The increasing use of mobile phones and the simplicity allowed these payments took SIBS developing this new service, which also allows money transfers between users of MB Way, immediately regardless of the bank where the account are based .
Asked by TeK as to how the MB Way compares to other payment services via mobile phone, including Apple Pay which was already released in the United States, Luis Flores highlights the simplicity achieved in the application of SIBS and the possibility of local integration, but ensures that the company is aware of all forms of competition and it is a boost to continue innovating.
SIBS not disclose further expectations on the number of service users and adhering traders, because the rider now begins and the mass is scheduled for April 2015, but admits that may be greater than the MBnet, the service creates a virtual credit card that can be used in online payments, increasing security.
The term also MBnet cards may be associated with the account MBWay, but this will happen only in a second phase of development of the service. Are to have the cards from participating banks that can be used, and also some details of the service are borne by the banks, including some transaction limits and the possible levying of service.
Written under the new Orthographic Agreement
Fatima Hunter
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