easycash is the new strategic payment partner for the payment process mpass. mpass payments will in future also be processed via easycash’s high-performance network; the focus here is on direct debit payments. Developed by the telecommunications service providers Vodafone D2 and Telefónica O2 Germany, mpass provides maximum security for online payments with an additional authentication by mobile phone.
"As an established partner of the retail industry, easycash benefits our system with its contacts and extensive B2B expertise", emphasises Jochen Bornemann, Head of Payments & Enabling Services at Vodafone D2 GmbH.
Michael Kurz, Head of Corporate Wholesale Telefónica O2 Germany is equally enthusiastic: "Our new partner puts us in a position to minimise the default risk of direct debits on behalf of our retailers, representing a significant advantage for shops using the mpass system."
"Together we will continue to develop mpass", proclaims Dr. Andreas Marra, Head of Product Development at easycash with confidence. "Compared to other providers, the system has decisive benefits, particularly in relation to the security aspect that is so important in e-commerce for the retail industry and consumers, due not least to the combination of internet with confirmation of payment via mobile phone. Another important benefit is that there is no need for registration and private personal information such as account and credit card numbers do not form part of the payment process."
Persuasive arguments for retailers and consumers
Combined with easycash's innovative risk management system, secure online payments are guaranteed. The consumer can rest assured that credit card data are not relayed across the internet and transactions are only initiated once confirmed by means of a personal mobile phone. With mpass the retailer has the benefit of using a widely available secure e-commerce payment process based on the combination of extensive mobile phone network coverage and an established direct debit system.
Looking into the future with a strong partner
The reason for the choice of easycash as the new partner for the mpass system is largely due to the fact that the company enjoys the position of being the largest "bank-neutral" payment processer. Managing over a billion transactions per year with a processed turnover volume of 50 billion Euro, easycash possesses the necessary resources to execute the anticipated transaction volume. Another crucial factor is the robust risk management system implemented by the Ratingen-based network operator.
mpass – the right level of security for retailers and consumers
mpass employs an additional payment authorisation in order to make online payments secure. Vodafone and O2 contract customers can use mpass immediately, with no need to register, to execute internet payments by entering their mobile phone number and a personally chosen mpass PIN. The customer then receives a text message which requires the response "Yes" to confirm the purchase. The risk of becoming a victim of fraud due to stolen data is effectively minimised.
The partnership with the two telecommunications service providers Vodafone and O2 means that payment defaults are significantly reduced on the retailer side while also strengthening easycash's risk management system.
Together, Vodafone and O2 account for around 50% (O2 approx. 16 million, Vodafone approx. 39 million) of the 110 million registered mobile phone users in the country. Customers of other German mobile phone service providers can use mpass after completing a simple registration process – the same applies to users of prepaid cards. Retailers who have already signed up include blume2000.de, mymuesli.com, cinemaxx.de and konzertkasse.de. easycash maintains some 92,000 retailers in its network providing them with an enhanced secure online payment process.