Sunday, May 30, 2010

MocaPay, A Mobile Gift-Wallet? Or A Better Gift Card

Wow... This latest post captures just about everything this blog tries to encompass: mountain biking and technology. Recently, an intriguing press release hit my search bots: MocaPay and Full Cycle form strategic partnership. Hmmm, I wondered is this mobile payments for a bike shop? According to the release, Full Cycle mobile account holders will be able to conduct mobile transactions at the point-of-sale, access their account balance and transaction history, and reload their Full Cycle account, all from their mobile phone.
"Our customers are on the go and rely on their mobile devices for several things. We want to make it easy for them to connect with us and make our services readily available, going mobile helps accomplish this," said Kaj Gronholm co-owner of Full Cycle. "Working with Mocapay not only enables Full Cycle to enhance our customers experience but we will be able to personalize our marketing efforts in a more targeted manner, ultimately to increase sales."
This got me thinking about exactly what Full Cycle could offer: instant "fix my bike" mobile services, pre-order and pick up later, Fully Cycle could send out "last one reminders", what about mobile-only sales. Lot's of potential here for the creative mind. But, OK, what is MocaPay and this platform providing all this capability? That's what I wondered too...

Their website says: Mocapay is an end-to-end, mobile payments and experience platform for innovative issuers. The platform addresses merchants' need for a new channel that will broaden their loyalty and gift programs by mobilizing sales and marketing to reach customers anytime, not just at the point of sale, encourage purchases and build a stronger brand affinity. For innovative financial institution issuers, Mocapay reduces the implementation time, support complexity and costs associated with secure mobile payments increasing and accelerating consumer and merchant adoption. As a Software-as-a-Service technology, the platform does not require point-of-sale hardware upgrades; merchants can maintain their investments in their POS equipment.

What I think: (Hey MocaPay, you can buy that off me for a pro-deal at Full Cycle). Seriously, I signed up for the service provided for end-users and it was very easy. What's more, the double opt-in text message process was very easy.

Once I created my account, I was sent a text message with my access code. 
This connected MocaPay with my phone. 

My next task is to add gift cards to my mobile wallet. I "could" also turn on 
their mobile marketing functionality to customize advertising to what I want, 
but babysteps MocaPay, babysteps...

But the real step was signing into the MocaPay Android app. 
Here, again, the steps were easy. The only question I had
was why not have a Full Cycle app? Perhaps they have one
I just didn't see it Full Cycle's website. Well, time to buy stuff... 

Are mobile payments the next big "thing" to happen to the payment industry? Um, yeah... Did you see the latest Visa news: 
DeviceFidelity, Inc. today announced the availability of its In2PayTM solution for iPhone, designed to enable iPhone users to make contactless transactions, such as Visa mobile payments, by simply waving the iPhone in front of a contactless payment terminal. The solution combines DeviceFidelity's In2Pay microSD technology with a specially designed, patent-pending protective case that adds mobile contactless capability and works with iPhone 3GS and iPhone 3G.

By placing a removable In2Pay microSD into the protective case, iPhone users can take advantage of In2Pay's secure contactless capabilities where contactless transactions are offered. They range from buying goods in retail stores and at unattended kiosks, to transit ticketing, and even securely accessing buildings and computers networks. Trials are scheduled to start during the second quarter of 2010.
SOOOO much going on in this space, even for bike retailers... Stay tuned!
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