Brown CS Prof. part of cell phone payment plan
Trial scheduled for spring, mobile phone payments touted to offer greater security and lower commission rates
Full Story: Pay as you text? mPay hopes to make cell phones the new credit cards Source: Brown Daily Herald, December 5th, 2007 Added on December 5th, 2007 at 9:12 am, by Judy He
Ocean State Partners, a startup company run in part by [Adjunct Professor of Computer Science Donald] Stanford, is looking to introduce mPay - a free system that allows customers to use their cell phones like debit cards - to campus in time for the fall semester...
...With mPay, a customer can send money instantly to anyone else with an mPay account - a friend, a business, a taxi driver or even a vending machine. The service requires no extra software or text messaging and works on any cell phone - even, Stanford said, a seven-year-old phone he bought on eBay...
...Stanford stressed the security of the system. No information is stored on the cell phone, so no one else can access the money if the phone is lost or stolen. "Credit cards are very insecure," Stanford said. "Anyone can pick up a credit card and start signing. It happens every day."...
...Ocean State Partners plans to offer mPay to Rhode Island college students before opening the service up to all of Rhode Island. The company is currently negotiating with Brown, the Rhode Island School of Design, and Johnson and Wales and Bryant universities. Eventually, the plan is to make mPay national.
Related Items (4)
|Bank of America declares mobile banking a success||12.10.07||Providence Business News|
|Ocean State Solutions aims to be pioneer in cell phone payments||11.26.07||Providence Business News|
Companies / Organizations (2)