Verizon Wireless Teams with Payfone on New Mobile Payment Solution

On Monday, Verizon Wireless and Payfone, an emerging mobile payment processing service, announced a new partnership forged in hopes of bringing new mobile payments solutions to Verizon customers.

Verizon says the new service will make it possible for their subscribers to make online purchases from their smartphones, tablets and PCs using numerous payment methods.

According to a formal press release heralding the partnership and the details of the service, customers will have the option of charging purchases to their monthly Verizon wireless statements.

Traditional payment methods through financial institution partners will also be available.

With Payfone’s unique approach to mobile payments, operators and merchants are able to complete transactions securely and accurately. Payfone also provides other features important to consumers and merchants, including intelligent routing, pre-authorization and authentication designed to reduce the friction and fraud that affect sales conversion and revenue yield for merchants and operators.

“Our relationship with Payfone complements the part of the mobile payments equation we’re already working on with our Isis joint venture,” said Greg Haller, marketing vice president, Verizon Wireless.

“We approach the mobile payments arena from a customer’s perspective,” Haller adds. “As we move forward, the most important goals will be security, privacy and simplicity. Through our relationship with Payfone, we will be able to quickly offer value to our customers by offering them greater choice and a simple, safe and secure purchasing experience when shopping online from their smartphones, tablets and PCs.”

Rodger Desai, chief executive officer of Payfone, says Verizon is clearly dedicated to “cutting-edge innovation” as the wireless carrier perpetually manages to “stay ahead of the mobile payments curve.”