Mobile Money Network, the joint venture established in November 2010 between Best Buy Europe, Monitise and Charles Dunstone, founder of Carphone Warehouse, has announced its mobile payments service is to be called Simply Tap.
Although the name suggests NFC will eventually be a core part of the venture’s service offering, the company is taking a different route to market — at least initially.
“Simply Tap will enable consumers with any mobile phone, on any mobile network and with any bank to buy anything from the retailers signed up to the service, wherever they are,” the company explains.
“Consumers will go through a one-off registration process that securely captures personal details, such as debit or credit card numbers and preferred delivery address. After registering, when a consumer sees a product they want in store, online or in any advert, they simply need to type the product code in to the Simply Tap service through the mobile app or send it via SMS and the product is then paid for and delivered using the saved details.
“Simply Tap provides a number of key benefits including saving shoppers time when ordering products online, allowing retailers to sell products from traditional print advertising more effectively, and to extend the range of products they can promote in store for home delivery,” the company continues. “This potential puts MMN at the centre of the next significant change in the way that people shop and discover products.”
“The Mobile Money Network’s capabilities bring together the best in mobile payments, mobile marketing and mobile banking innovations and put the mobile device at the heart of the consumer shopping experience… Developed based on the Monitise secure technology platform, Simply Tap will allow shoppers to purchase anything using their preferred credit or debit card and products will be delivered to their chosen address at the touch of a mobile button.”
Mobile Money Network has also revealed that it has signed up Sir Stuart Rose, the former CEO of Marks & Spencer, as non-executive chairman. Lord Davies of Abersoch, a former minister of state for trade promotion and investment and former chairman of Standard Chartered, has also joined the board as a non-executive director.
Full details of Mobile Money Network’s planned service are to be unveiled at a meeting in London tomorrow.