paythru is expecting to handle 25 million transactions, worth £100 million, by 2012 through Version 3 of its platform, in a m-commerce market that Infiniti Research forecasts will be worth $122 billion by 2011.
paythru offers platform packages that are easy to fully integrate with existing systems or as simple as introducing a ‘plug and play’ ‘Buy Now’ button for retailers’ websites on mobiles.
Version 3 of the paythru platform is dynamic; allowing retailers to contact customers with tailored communications at specific times of the day when they are at their most receptive, i.e. lunch time for office workers.
It is also the first mobile payment system to achieve Level 1 PCI DSS compliance. This delivers the same standard of security as retail banks and card issuers. The system also uses Thawte SSL and will support 3D Secure.
The rebranding of the company to paythru reflects the core benefits that the company offers a wide range of vertical markets including retail, gaming, charity, and ticketing.
Consumers can purchase goods and services using any Internet enabled mobile phone, using any credit and bank card, at any time, anywhere through paythru. While m-commerce has traditionally been used for micro-payments, with paythru, consumers can spend as much as their bank or credit card issuer will allow.
paythru clients will be able to reach the all important ‘Generation-M’, consumers who are connected 24/7, highly active social networkers, and big users of the mobile Internet for impulse purchases, both big and small. paythru believes ‘Generation M’ is about attitude not age and they are a sales opportunity that retailers can not afford to ignore.
Operating in the UK, Europe and the US paythru is developing services for Australia, Asia and the Middle East, for implementation in the next 12 months and is working with a range of clients currently including Rangers FC, CabCard and MoBank.