Personal Mobility

Technology, specifically mobile phones, carrier networks and the internet, provide the tools to deliver true mobility. PATsend, PATbuy and PATbank solutions allow bank customers to use their mobile phone to send money, make payments and access banking services anywhere in the world.

The New Terminal

Mobile phones have become more than just communication devices. The billions of mobile phones in use globally can be utilized as personal payment terminals for their owners.

• Provides the opportunity to identify both senders and recipients by phone number
• The phone number is the best method to uniquely identify both banked and unbanked individuals, regardless of time or location

Proximity vs. Remote Payments

Proximity payments require the purchaser and seller to be face to face and involve an exchange of information between a customer’s mobile device (or contactless card) and a merchant’s POS terminal. Using NFC (Near Field Communication) technology, information is stored on a chip in the mobile phone or contactless card, which customers tap or wave at a POS terminal.

• Remote payments do not require the purchaser and seller (or sender and receiver) to be face to face.
• Remote payments can be made anytime, anywhere, and do not require a point-of-sale (POS) terminal.
• Remote payments may be person-to-person or person-to- merchant thus expanding the transaction revenue stream beyond that of proximity payments.

PAT offers the following remote payments solutions:

• PATsend – person to person remote transfers
• PATbuy – person to merchant remote purchases

PAT solutions complement contactless, NFC and proximity technology.

PAT Mobile Payments and Transfers