SCCP Launches New Revolutionary Mobile Payment Platform

By Tengku Noor Shamsiah Tengku Abdullah SINGAPORE, March 22 (Bernama) -- A new mobile payment platform which will revolutionise cashless payments for consumers, businesses and the banking industry worldwide was launched today in Singapore. Swiff, which was developed by SCCP Payment Services, will create a new global standard for secure and instantaneous cashless payments between individuals, merchants and banks, using mobile phones and tablets as credit/debit card terminals. Swiff already works on iPhone, iPod, iPad, Android and BlackBerry devices and will soon be available on Windows-based mobile devices. Swiff is the world’s first complete end-to-end solution which provides the same high level of security as existing chip-and-pin debit cards, with the benefits of being completely mobile. A “beta” version used by merchants in selected locations across Singapore since June 2011 has verified the technology, now being launched worldwide. SCCP Payment Services co-founder and chief executive officer, Jerome Cle said: "Mobile payments in Asia Pacific are projected to rise to US$267.8 billion by 2016, backed by the rapid acceptance of mobile banking services across the region. “There is a high demand in the market for mobile payment solutions which seamlessly plug into any existing ecosystem of banks, merchants and customers. Today, Swiff is unique in its ability to do so," he said at the launch here. Beyond enabling merchants to generate credit/debit card transactions securely on-the-go, by simply swiping cards through the device, Swiff also instantly encrypts and transmits card data securely to the participating bank. No data is stored within the smartphone or tablet, ensuring customer information is kept safe. Cle said Swiff embeds a Multi-Factor Authentication in the payment application using bank-level security, providing merchants with a greater confidence to prevent misuse and decrease chargebacks. He said that payment authentication is done at four levels – the consumer, the consumer’s device, the merchant and the merchant’s device. Meanwhile, Julienne Loh, vice-president and country manager, Singapore, MasterCard Worldwide said: “Swiff is an easy-to-use and secure platform which brings us one step closer to a world beyond cash, something that we at MasterCard are working towards. "We see Swiff playing a significant role not only in increasing small businesses’ accessibility to cashless payments, but also helping them reduce costs and improve efficiency. "Beyond the benefits to businesses, consumers stand to enjoy even more seamless customer experiences with Swiff, as merchants now have an additional platform to enhance and be creative with the way they interact with their customers.” Swiff is the only mobile payment platform that currently allows merchants and customers the ability to track individual devices and its corresponding location where payments were transacted. -- BERNAMA