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Mobile Payments

Mobile Payment Solutions

Mobile Payments

The evolution of payment technologies has rapidly transformed the way consumers buy products and services. The result is that we now expect transactions online and in-store to be instant – no matter where we are or what time it is. Our mobile payment solutions are a core part of this new era. Designed to make your transactions as simple and hassle-free as possible, PFS solutions can also fall in line with any specific requirements you may have.

PFS is one of Europe’s leading suppliers of innovative mobile wallet and payment solutions. If the time has come to revolutionise your payment system, talk to our team today to get started.

What are mobile payment systems?

As the name suggests, mobile payment systems use a phone or wearable smart device to make a purchase – rather than cash or card. The user’s account is debited by the designated amount, with that fee then sent to the merchant’s account.

It’s It is becoming an ever-more popular method of payment too. For 2018, UK Finance data reveals that 708 million payments were made using online or mobile payment apps. This figure is set to grow even further to 2.4 billion payments. If this forecast proves correct, mobile payment could soon overtake the predicted volume of BACS Direct Credit payments.

The rise of mobile payment apps and services owe much to increased smartphone use and shifting consumer habits. But it also has much to do with higher confidence and improved technology. As one of the fastest-growing financial technology companies, we have seen how these changes have taken effect first-hand and we are leading the way in the development of solutions to fit.

In this modern fast-paced era, saving time can often equate to saving money. That is where our mobile payment solutions come in. Much of our spending is done on the move and by using mobile wallets or payment apps make such transactions even more convenient. By using our systems rather than the alternatives, our clients and customers avoid the need to carry cash or cards.

It also gives your business the opportunity to gather greater information about your customers. This can help you improve services and further build on the benefits of mobile payments.

Which mobile payment technologies can PFS support?

Mobile Payment

In the ever-changing world of payment technology, we strive to stay ahead of our competition. We do this by making sure that our mobile payment solutions are centred around cutting-edge technologies, which include:

  • Mobile wallets supporting Near Field Communication (NFC) and QR code
  • Contactless stickers for smartphones
  • Host Card Emulation (HCE)
  • Tokenisation
  • Wearables such as smartwatches, wristbands, or key fobs

In order to ensure we provide the most up-to-date mobile solutions to our clients and customers, we have also partnered with the following market-leading mobile payment providers:

  • Garmin Pay: Even if you leave your wallet or phone at home, you will never be caught out when you need to make a purchase by tapping your PFS card via your smartwatch.
  • Samsung Pay: With a compatible Samsung device, it could not be simpler to upload your PFS card – providing you with access to a simple and secure method of mobile payment.
  • Google Pay: PFS has teamed up with Google Pay to deliver fast, reliable mobile payment solutions in millions of locations – whether they be in-store, via apps or online.
  • Fitbit Pay: Just add your PFS card to a Fitbit mobile wallet and you are ready to pay from your wrist while on the move. Your details won’t be shared with Fitbit or retailers, which means your finances always remain secure.


Garmin Pay
Samsung Pay
Google Pay
Fitbit Pay

How do mobile payment systems work?

PFS is a pioneer in delivering mobile payment solutions to work with the different types of technology now being used. While each platform offers mobile purchasing capabilities by removing the need for physical cash or cards, it does mean there are differences in how mobile payment works. But no matter which best suits your needs, we can tailor a solution that works for you.

How does contactless mobile payment work?

Much like contactless prepaid debit cards, mobile payments often make use of NFC technology when made in person. The process is a straightforward one too. When making a purchase, the customer holds an NFC-enabled smartphone or device near to a compatible point-of-sale (POS) terminal. For security, the distance between the device and the reader is around two inches.

Apple Pay, Samsung Pay and Google Pay are among the mobile payment providers to use NFC for this. The enabled device and terminal communicate with each other using radio frequency identification (RFID) to transmit encrypted mobile payment data. The instant exchange of data ensures that contactless mobile payments are completed quicker than chip and pin technology.

Other forms of contactless payment technology include:

  • Sound-wave-based payments, where the secure data is transmitted via unique sound waves sent from the terminal to the device.
  • Magnetic secure transmission (MST), which is similar to NFC and generates magnetic signals to create the connection between a device and POS terminal. Samsung Pay is among the mobile payment solutions that supports both NFC and MST transactions.
Mobile Applications

How do mobile wallets work?

Apple Pay, Google Pay and Samsung Pay are all popular examples of mobile wallet technology. These solutions enable you to make a mobile payment using an app downloaded onto a device, which can carry PFS card details. Mobile wallets frequently use NFC to facilitate payments – but can sometimes incorporate methods such as Quick Response (QR) codes.

The popularity of mobile wallets can’t be understated. UK Finance data shows that 16% of the population (8.5 million people) have already signed up for mobile payments (June 2019).

While these mobile payment systems incorporate the same security measures, device features such as passwords or biometric fingerprint authentication provide additional safeguards. We have developed prepaid mobile wallet solutions to cater for the ever-changing needs of consumers in this space. To find out more about how you can benefit from this technology, contact us today.

Other forms of mobile payment

A device can also be used for completing transactions by SMS or bank transfers. With SMS, the payment is normally added to your mobile phone contract and paid retrospectively – rather than debited direct from a card or current account. Bank transfers, meanwhile, are direct payments made via an online banking portal or mobile banking app.

Why use mobile payment systems?

There are numerous benefits to using mobile payment systems – not just for consumers, but for merchants too. For consumers, these benefits help create a seamless payment experience:

  • Convenience: We have been quick to embrace the emergence of technologies such as contactless payment to further disrupt the payments sector. With our mobile payment solutions, we are helping to make it much easier to pay while on the move.
  • Speed: The speed at which mobile payments can be completed is a major advantage – especially compared to alternative methods. The technology ensures an almost instant, seamless experience. Mobile payments are also exempt from new European Union rules, which are designed to limit fraud and enhance security – but could slow down transactions.
  • Multi-platform: Mobile payment systems are just that – “mobile”. But they are often accessible on multiple platforms, meaning you can manage your mobile wallet at home on a computer to ensure you can pay for things when out and about.
  • Financial inclusion: For those who do not – or cannot – access traditional banking, mobile technology provides an effective solution. Mobile payment systems do not often require credit checking, nor do they need to be linked to a current account or credit facility.
  • Constant evolution: Technology continues to evolve – and so do the solutions that PFS creates in the mobile payment space. As smartphone use continues to increase, so will the use of new and existing apps such as WhatsApp to allow you to pay on the go.

For merchants, meanwhile, implementing a mobile payment solution brings unique advantages:

  • Increased sales: For some, mobile payment has removed the need to carry a purse or wallet around. If your business can’t accept such payments, it could mean lost sales – both immediately and from long-term, repeat custom. In addition, research has found that users of mobile payment solutions end up spending twice as much as non-users.
  • Improved cashflow: Our mobile payment solutions are designed to help businesses by reducing wait times for transactions to clear. It also reduces any transaction fees and means you do not need to produce receipts or invoices unless requested.
  • Loyalty incentives: Every mobile payment received comes with data about who your customer is and how regularly they make a purchase from your business. This offers opportunities for improving loyalty schemes, incentives and customer service.

Are mobile payments safe and secure?

Security is one of the major advantages of mobile payment systems. This is achieved using a process called ‘tokenisation’. Every time a device is used for completing a mobile payment, a single-use credit card number will be created. This is sent to the merchant – so it isn’t possible to identify a customer’s personal information.

The number generated is the ‘token’ and can’t be cloned by fraudsters. The data is also stored remotely – not on the device itself. If a device is lost or stolen, the data can simply be deleted.

Mobile wallets and payment solutions also provide an extra layer of security against fraudulent or malicious activity. Such solutions often require a user to confirm their identity to complete a transaction – typically using biometric capabilities of their device, such as a fingerprint scanner, or by entering a password/unlocking the screen.

What does a business need to accept mobile payments?

Facilitating mobile payments does not require a business or retailer to completely transform their POS infrastructure. The only essential piece of equipment is a card reader or terminal with NFC capabilities. This technology is used by the most popular mobile wallets and payment apps – so this ensures a business will be able to start accepting mobile payments without delay.

As transactions continue to go ever-more mobile, PFS is here to support clients with their desire to keep pace with the latest trends in technology. Through our commitment to innovation, we are able to provide future-proofed mobile payment solutions that offer a distinct business advantage. Contact us today to find out how our modern, flexible and tailor-made services can help you.

Mobile Applications

Why choose PFS mobile payment solutions?

PFS has established itself among the fastest-growing financial service providers in Europe. One of the key driving forces behind our growth is our track record of offering revolutionary prepaid card solutions to meet the varying needs of our ever-expanding customer and client base.

But our focus on technological innovation means that we can now offer clients and customers a much wider range of bespoke solutions – including forward-thinking mobile payment solutions.

Other reasons to trust PFS with your mobile payment needs include:

  • Listed in the inaugural Financial Times Future 100 UK in 2018 for being among the “fast growing UK companies that are also making an impact on their industry or wider society”
  • Our corporate clients number more than 1,700, while our 150+ white label programmes perfectly position us to offer you expert advice on mobile payment apps and services
  • We have partnered with world-renowned companies to enhance our position as a market-leading provider of mobile payment services and solutions including Mastercard , Visa and eCOMM Merchant Solutions, as well as the most popular mobile wallet providers.
  • Financial inclusion is core to many of our products and services, helping consumers with less-than-perfect credit histories. Our mobile payment solutions form part of our efforts to work with clients to introduce or upgrade systems and programmes with this in mind.
  • Our success is backed up our accolades: European Business Awards National Winner 2019, Digital Technology Award winner at the RSM European Business Awards 2018, Corporate LiveWire Global Most Innovative in Payment Technology Solutions 2019, SME News Finance Awards Best FinTech Company 2019 Europe and more.

Who can benefit from accepting mobile payments?

The growth of mobile payments owes much to the uptake in the technology able to accept them – especially as the use of smartphones and devices becomes more ubiquitous. NFC-enabled POS terminals are now commonplace across the retail sector, as well as food and drink businesses or other service providers where payment can otherwise be made with card.

In addition, mobile payment solutions are now being integrated into transit systems in place of conventional tickets. NFC devices can be used to pay for travel across London, for example.

How to find out more about PFS mobile payment solutions

If your business requires a tailored mobile payment solution or for more information about what PFS can offer, please get in touch today.