Financial Technology

Financial Technology

October 30, 2012

Vodafone and CorFire Partner to Make Mobile Wallet a Reality

In an age where consumers all over the world are in search of solutions that are simple, convenient and speedy – and where mobile devices are transforming the way organizations operate – contactless payments are being looked upon with great favor.

That's why CorFire, the mobile technology expert, is providing mobile wallet capabilities to the Vodafone (News - Alert) group, enabling customers to manage everyday transactions, redeem vouchers, access buildings, transit systems and more with just a single tap of their smartphones.

The company's collaboration with the Vodafone Group is expected to bring tangible benefits to consumers and pave the way for financial institutions and others to leverage the mobile channel to expand their customer reach.

“Vodafone’s customer base spans across more than 30 countries, which means our partnership may become one of the biggest, global implementations of NFC and mobile commerce,” said Dr. Jae Chung, president and CEO at CorFire.

Given the potential of mobile to transform existing industries, Wirtz observed that Vodafone Group was committed to partnering with the best suppliers to offer the greatest benefits to customers. He also noted that the industry in Europe is now at the beginning of rolling out a contactless infrastructure.

CorFire is a pioneer and an expert in providing mobile payment solutions, and reportedly enables over 30 million mobile transactions every day with its mobile wallet solution – CorPay – which eliminates the need for physical wallets.

CorPay, which can be used in both NFC and non-NFC environments, not only relies on a full client/ server architecture, but also allows personal account information to be encrypted.

In addition to its robust mobile wallet platform, CorPay, CorFire also offers its Trusted Services Manager platform – CorTSM and Cor360 – a state-of-the-art suite of mobile marketing services.

Both Vodafone Netherlands, one of the largest mobile operators in Holland, and Amdocs (News - Alert), a provider of unified communications and network services, were declared as joint winners of the "Best Telephony Outsourcing" category in the global 2012 Outsourcing Excellence Awards.

Edited by Braden Becker

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