XIPWIRE Launches Mobile Payment Service; Simple and Secure Text-to-Pay Technology is First of Its Kind in Philadelphia
- Free Until 2011, XIPWIRE Users Can Experience the Convenience of a Mobile Wallet -
PHILADELPHIA--(AllPayNews)--XIPWIRE, a mobile payment service, is launching its simple text-to-pay technology in Philadelphia. Offering the most simplistic user interface currently available, XIPWIRE enables consumers and merchants to send and receive money securely and quickly via text message from a mobile phone. Users can fund XIPWIRE accounts with money from a debit card, bank account, credit card or with money that friends and family transfer to the account. With two easy steps, users can pay for everything from cheesesteaks and water ice to dog-walkers and coffee shops – all from the convenience of a mobile phone. While mobile payments are commonplace throughout the globe, their adoption is only now gaining momentum domestically; in an effort to introduce the technology and provide a risk-free opportunity for merchants and consumers, the XIPWIRE service will be free of charge through 2010.
“With payments from a mobile phone, XIPWIRE makes my business and my customers’ lives that much easier.”
Sharif Alexandre, a Drexel Hill native and University of Penn graduate, spent two years researching and developing a simple and secure platform that would change how people transfer money to one another. Prior to founding XIPWIRE, Alexandre spent 15 years in the IT industry, refining his Open Source technology expertise at a variety of companies – from start-up tech firms to Fortune 100 organizations. Alexandre said, “Other text-to-pay services are difficult to use and only apply to peer-to-peer transactions. With XIPWIRE’s simplistic text-to-pay service, we’ve opened the door to consumers and businesses alike, and that momentum can establish Philadelphia as the first mobile city in the nation.”
XIPWIRE utilizes a short code – 56624 – that has been certified by every mobile carrier. Using a short code instead of a regular 10-digit phone number ensures that text messages sent to XIPWIRE users comply with all the regulations specified by the mobile carriers – which helps keep transactions secure. “While a text message to initiate payment is an exciting concept, it would be useless if it wasn’t secure – that’s why XIPWIRE has deployed a layered approach to guard against both unauthorized access and potential fraudulent activity,” stated Alexandre. To that end, XIPWIRE utilizes PIN authentication so that money cannot be sent without authorizing the transaction with your four-digit code. Unlike other mobile payment systems that store account information on a user’s mobile phone, XIPWIRE does not store this data and it also encrypts all passwords and account numbers to ensure security. And, in the event a user’s phone is lost or stolen, transactions can be prevented by locking the phone via an online account.
In addition to a simplistic and secure design, XIPWIRE transactions are free through the end of the year for both consumers and merchants, and there will never be a sign-up fee or monthly subscription fee. Beyond this year, businesses that accept XIPWIRE payments can significantly reduce credit card transaction fees because the 2011 fee per credit transaction is only 1 percent, compared to the national average of 2.5 percent. Mobile payments are more than just savings – businesses also stand to increase revenue, as shoppers spend 12 to 18 percent more when they are not paying with cash. “We’re on the fast track to becoming a society where the mobile phone rules everything; consumers already use their mobile phone for banking, texting, gaming, emailing and reading, so why pull them away to make a purchase?” asks David Katz, owner of Mémé Restaurant in Fitler Square, which started accepting XIPWIRE this month. “With payments from a mobile phone, XIPWIRE makes my business and my customers’ lives that much easier.”
To get started, text "go" to 56624. XIPWIRE will text back a temporary username and password that you can use to login and complete your account setup.
Founded in 2009, XIPWIRE is a mobile payment service that enables people to securely send and receive money using a simple text message. XIPWIRE leads the region in mobile payment technology with a strong focus on simplicity and security. Its robust platform caters to individual users as well as merchants and non-profits. XIPWIRE enables businesses to offer their customers a convenient cash alternative without the need to pay high credit card fees.
XIPWIRE complies with all state regulations, operating with a SMS short code (56624) and certification from all major mobile carriers.