10 Jun 2015 07:00
Proxama PLC
("Proxama" or the "Company")
Launch of Apple Pay and Proxama's Digital Enablement Platform
London, 10 June 2015: Proxama PLC (AIM: PROX), the international mobile commerce Company specialising in proximity marketing, and a leading provider of end-to-end payment solutions for card issuers, makes the following statements following the announcement that Apple Pay will be launched in the UK in July, and explains the relevance of this announcement to Proxama's recent launch of their Digital Enablement Platform™ (DEP).
What this means for Proxama and mobile payments:
· Apple announced this week at its World-Wide Developer Conference (WWDC) that Apple Pay will be launched in the UK in July, sooner than many industry observers expected. As has been seen with the adoption of other technologies, once Apple chooses to move, others will likely follow, and Proxama therefore expects businesses to accelerate their plans towards the switch to mobile contactless payments in the UK.
· Apple Pay, launching initially in the US and now in the UK and elsewhere around the world, fully endorses our long-held vision of smartphones being used for digitised card-based payments. It will accelerate Proxama's ability to allow card issuers to enable their card portfolios for mobile deployment. This also holds true for non-Apple phones where Proxama can provide a complete end-end solution for mobile card provisioning and transaction processing via DEP.
· Both Proxama's DEP and Apple Pay follow the EMV specifications for payment apps and transactions at point-of-sale, making the solution compatible with all the contactless payment terminals already installed in the UK. Proxama's DEP empowers card issuers and processors to independently manage their digital payments strategy with a solution that today already supports mobile contactless payment deployments, and that will grow with them as Apple Pay and other emerging payment models open out to in-house management and control.
Mike Woods, CEO of Proxama's Payments Division, commented:
"The launch of Apple Pay is good news for Proxama and the mobile payments sector in general. Apple is the market leader, and their commitment to mobile contactless payments and Near Field Communication (NFC) technology will mean that the rest of the industry and the banking sector will have to accelerate their implementations to keep pace. At Proxama we share the same objectives and support the same technology, and so are well positioned to help financial services companies mobilise their customers to adopt mobile payments and complementary value-added services such as loyalty via their smartphone."
Enquiries:
Proxama PLC Neil Garner, Group Chief Executive Mike Woods, Payments Division Chief Executive John Kennedy, Finance Director | +44 (0)20 7959 2298
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Novella Communications Tim Robertson Ben Heath |
+44(0)20 3151 7008
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About Proxama
· Proxama is an internationalmobile commerce Company specialising in proximity marketing via mobile and providing end-to-end solutions for card issuers to migrate customers from magnetic stripe credit and debit cards to contactless mobile payments.
· The technology to support mobile payments is now in place. 90% of the world's smartphones include the technology to allow mobile payments and in 2015, 30 million contactless mobile payments are expected to be made compared to 3 million in 2014.
· Proxama has been at the forefront of this market for the last 10 years. Today, Proxama's solutions are used by banks, financial institutions, loyalty companies, media owners, stadium owners, retailers and brands. Current clients include: Fiserv, Nets, ICS, Exterion Media, Harrods and Argos.
· The proximity marketing division focuses on connecting consumers to brands and retailers via Bluetooth Low Energy (BLE) beacon technology and Near Field Communication (NFC). Proxama establishes and owns beacon networks in high footfall locations such as City Centres, transport networks, stadia, shopping malls, entertainment hubs and retail outlets, which are then able to communicate to consumers via messages to mobiles when the consumer is in close proximity to a beacon. The technology platform at the heart of this division is TapPoint®
· The payments division manages end-to-end credit and debit cards solutions on behalf financial institutions in the United States, Europe and the Middle East and specialises in enabling the migration of cards from magnetic stripe cards, to chip and pin cards and from contactless chip cards to mobile devices. The technology behind this division isProxama's Digital Enablement Platform.