For Banks

CPNI’s Phone Authorized Transfer (PAT) provides bank-branded, global solutions that allow banks to leverage their existing assets. Many mobile payments offerings in the market simply use mobile as a channel - a way for a bank to sell the same services to the same users. PAT fills a gap in the market by providing a platform to target person-to-person and person-to-merchant remote payments and mobile banking services.

Bank competitors are taking revenue away from banks and building a trusted brand for payments. The PAT software and mobile payment network empowers banks to compete against 3rd party payment providers by enabling payments, transfers and banking access to be made with convenience, speed, security and low cost using a mobile phone.

PAT provides banks with:

• Increased revenue (fee income from transactions, foreign exchange revenue)
• Decreased check processing costs
• Ability to leverage existing processes, infrastructure and settlement network
• Increased “share of wallet”
• Innovative offerings to attract new customers
• Improved customer retention
• Tools to move the bank-issued credit card to top of the customer’s wallet for mobile purchases
• Facility to grow and defend payments franchise
• A platform to innovate
• For card issuing banks - increased interchange volume/fees
• For merchant acquiring banks – increased interchange volume/fees and increased traffic

For Bank Customers

PAT provides bank customers the convenience and flexibility of remote transfers, purchases and banking access without the need to have access to a computer and the internet, use a credit card, or be in close proximity to the recipient or merchant. The customer simply needs a mobile phone.

PAT provides bank customers with:

• Greater convenience and mobility
• Bank brand they can trust
• Faster transactions by the elimination of time consuming paperwork
• Confidence in the security of their personal information
• Potential cost savings to transfer funds
• Ability to leverage hardware they already own (i.e., mobile phone)
• Convenience of using a single mobile application to access a limitless number of merchants and people
• Ease of use by experiencing the same look and feel of the application, regardless of merchant