Verizon launches mobile payment service for e-commerce

Verizon launches mobile payment service for e-commerce

Summary: Verizon Wireless on Monday announced the launch of a mobile payment service that will allow customers to charge online purchases directly to their monthly cellular bill.

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Verizon Wireless on Monday announced the launch of a mobile payment service that will allow customers to charge online purchases directly to their monthly cellular bill.

In partnership with e-commerce firm Danal, the BilltoMobile payment service will begin later this spring. Verizon Wireless customers will be able to pay for online content downloaded and consumed from Danal's participating network of e-commerce merchant partners.

The mobile payment service will feature a $25-per-month spending limit for these purchases, along with content and parental controls for individual accounts.

Here's how it works: Consumers click on a BilltoMobile button during checkout at a participating online Web site. After inputting a mobile phone number and billing zip code, a text message is sent to the phone with a one-time passcode. Put the passcode into the online checkout window and the transaction is complete.

The companies say the entire process takes about 15 seconds.

Topics: Mobility, Banking, Enterprise Software, Verizon

Andrew Nusca

About Andrew Nusca

Andrew Nusca is a former writer-editor for ZDNet and contributor to CNET. During his tenure, he was the editor of SmartPlanet, ZDNet's sister site about innovation.

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  • So what does this cost for the merchant?

    I'm always looking for ways to reduce the credit card processing costs I pay on our website, but a lot of these alternative solutions end up costing more.
    Oldmanmike
  • RE: Verizon launches mobile payment service for e-commerce

    How many people will want to scroll back and forth for the code & re-find the purchase.
    Medfordhouse
  • Reaching to new Markets by tapping in to Mobile payments

    By: Atara Mordou, Account manager ? www.waspit.com

    Mobile payments are projected to reach US$264.8 billion by the year 2015. Given the fact that approximately four billion mobile phone users exist across the globe with numbers increasing at a faster pace, Sooner or later, a significant chunk of mainstream consumers are going to be making point-of-sale transactions using their mobile phones. The question is who will seize this lucrative opportunity? Who will be the winners and who will be losers?
    When Westminster City Council implemented a pay by phone parking scheme, they were shocked to find out that at least 75% of all metered parking came from pay-by-phone, up from the anticipated 10% to 15%.
    One key component to m-commerce's potential success is establishing a comfort factor among consumers when it comes to paying for things with mobile phones.
    It?s a fact that most customers know their mobile phone number but not their card number.

    Successful social gaming companies like Zinga who owns Farmville has recognised this and are making a killing out of the social gaming market through mobile payments.

    Although many SME?s are aware of the benefits of mobile payments at a whole, most are unaware of how each would add value to their individual business models or more over how to successfully implement such a winning strategy.
    At Waspit, even if it is a multi billion pound brand or a small taxi company, first thing we do is to understand the client?s present model and cater a unique mobile payment solutions for that business.

    Most SME?s are unclear the about the return versus the investment of implementing such a strategy. Most of the clients who comes to us we offer minimum or no investments (depending on the solution). Not only that, till they achieve their objectives, we will continue to support them.

    We actively encourage pilot programs and if you think that it is time to jump in to the mobile payment bandwagon or you just want to have understand more about mobile payments then please email the author: atara.mordou@waspit.com
    Ataramor
  • RE: Verizon launches mobile payment service for e-commerce

    As profit margins erode from voice services the carriers must find new ways to take advantage of the kept audience, the users. Just like Data plans, financing, is a new revenue stream.
    firstusacom
  • <a href="http://callingcards4us.com">Calling Cards</a>

    As profit margins erode from voice services the carriers must find new ways to take advantage of the kept audience, the users. Just like Data plans, financing, is a new revenue stream.
    firstusacom