At OPUS Financials, we are committed to finding payment solutionsand facilitating each process to make life simpler. For this reason, our company has developed iPagos.net, a mobile payment solution to give merchants and its customers an easy way to process payments without having to use traditional electronic payment methods such as credit/debit cards.
The iPagos.net application allows any person with a cell phone to process financial and commercial transactions through their phone. Whether they want to pay for services, or purchase goods at your store, they would not need to carry cash, debit/credit cards or checks.
Accepting this form of payment is safe and easy, and it does not require additional investment by the merchant since there is no need for new software or connections. Your customer’s cell phone functions as a POS Terminal allowing acquirers to settle the transaction in real-time.
How does it work?
There are two ways to proceed with a mobile transaction when using cellular phones a the Point-of-Sale (POS). The IVR-based system, which it can be used by non-web enabled mobile phones (old cell phones), requires users to call a toll free number to proceed with the mobile payment transaction. The JAVA-based system can be used by new cell phone’s carriers that will only be required to download the JAVA application from the EBSG® website into their cell phones, allowing them to use it everytime they need to make a mobile payment transaction at the POS.
Merchants’ Benefits
- Cheaper than regular POS
- Real-time transaction processing
- Increase the number of purchases by not limiting customer’s payment options
Consumers’ Benefits
- PIN-secured
- No need to carry cash, checks or debit/credit cards
- Fraud protection
- Account information available online, at ATMs and through a toll-free number
- 24/7 (365 days) Spanish and English Customer Service
IVR - Non-web enabled mobile phones (old phones)
Mobile Payment -Transaction Flow
Once the customer is ready to purchase an item, the cashier enters the amount in the POS and requests an authority code. A unique authority code is retrieved in real-time and provided to the customer. The customer dials a toll free number from his cell phone and its prompted to enter the PIN number, followed by the authority code. The IVR validates transaction data and requests confirmation from the system (EBSG® platform). Afterwards, the customer has to press 1 to confirm or 2 to cancel the transaction. The IVR sends the transaction confirmation to iPG, and receives a response through the POS server. If approved, the IVR sends a message to the merchant’s POS terminal to print a receipt. Finally, the receipt prints automatically, followed by the second receipt (merchant’s copy).
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