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JCM Global, Techfirm Team to Develop Pay-by-Mobile Phone Solution

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June 02, 2011

JCM Global, Techfirm Team to Develop Pay-by-Mobile Phone Solution

By Anshu Shrivastava, TMCnet Contributor

JCM Global and Techfirm have signed a memorandum of understanding (MOU) that will bring the two companies together to develop a pay-by-mobile phone solution for bill validators.

Techfirm is a solution developer for mobile phone applications based on contactless IC technology, while JCM Global is a supplier of innovative automated transactions solutions for the banking, gaming and retail industries.

Under the terms of the MOU, the companies will leverage their resources and experience to create a system, which will allow consumers to use their mobile phones to pay for purchases at automated transaction centers that use bill validators to accept both currency and mobile e-money.

The payment via mobile phone has become common in many countries, including Japan. Commuters in Japan frequently pay for train tickets using their mobile phones.

The application uses contactless IC technology – commonly called mobile e-money.

Companies’ officials said that this jointly developed technology can be used in a wide range of JCM applications, including slot machines, kiosks, parking self-pay terminals, and more.

Calling the development of this technology an “incredibly” exciting field for JCM Global and Techfirm, Aki Isoi, president of JCM Global said that given the extensive research and announced plans from major developers, it is clear the mobile e-money technology market will grow rapidly as Android CS technology expands and becomes more available.

“Consumers use of mobile phones as digital wallets is spreading rapidly, and we have every reason to believe this trend will continue to grow globally,” Isoi said.

Recently, Casino MonteLago selected JCM Global’s bill validator, iVIZION. Casino MonteLago is the latest is a string of casinos across North America to exclusively install the new iVIZION on their gaming floors.

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Anshu Shrivastava is a contributing editor for TMCnet. To read more of Anshu’s articles, please visit her columnist page.

Edited by Jennifer Russell

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