Thursday, July 13, 2006

Obopay partners with Amp'd Mobile - Payment News

Obopay has announced a partnership with Amp'd Mobile to offer a new mobile payment service, Obopay-Amp'd, to Amp'd Mobile subscribers. Amp'd Mobile will promote the service to all Amp'd subscribers, and in addition, the two companies said they will jointly promote the service on university campuses across the country this fall.

"Obopay will give our subscribers a mobile payment service that combines an intuitive user experience with real time ability to access and spend money," said Mike McSherry, SVP of Emerging Technologies at Amp'd Mobile. "Our subscribers nationwide will now have the opportunity to revolutionize the way they handle their finances, managing their entire account on their phone and exchanging money with friends instantly through their mobile device. It's the perfect service for our customer's mobile centric lifestyle."

Through an application on their handset, Amp'd Mobile subscribers will be able to easily receive, send and spend money anywhere, anytime.

"It's gratifying that our first agreement to deploy our service with a U.S. carrier is with an innovator and pioneer in the mobile space," said Carol Realini, CEO and Founder of Obopay. "The mobile phone will do for money, what the iPod has done for music; making it instantly accessible and personalized, and Obopay is proud to be partnering with Amp'd to make this a reality."

Already well established in Asia and parts of Europe, mobile commerce is only now beginning to make its way to the U.S. Obopay's downloaded client simplifies the mobile transaction process and facilitates immediate transfer of funds to consumers.

Obopay also recently announced new technology that would allow e-commerce sites to accept payments directly from Obopay accounts. Rather than complicated credit card numbers and expiration dates, Obopay account holders would simply enter their Amp'd Mobile phone number and a passcode to complete a transaction. And these Obopay transactions cost retailers a fraction of the fees they currently pay to other financial vendors.

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