One of the primary challenges in credit and debit cards payment security is coming up with practical ways to secure payment transaction data. The fundamental problem is that cardholder data becomes a shared secret. This secret often needs to be shared amongst a lot of parties in order to fulfill even a single transaction. Because security relies on the least common denominator of security controls amongst these parties, a leak is almost inevitable during the life of an account.

Mobicash was born out of taking another approach? What happens when we throw out a lot of today’s assumptions around electronic payments and e-commerce and assume that the merchant shouldn’t have to store the data at all? What if we never even handed this sensitive information over to the merchant in the first place? As we can see, one of the primary difficulties in securing this data is identifying all the places to which it travels. But what if this no longer mattered? Or at least mattered significantly less?

In order to rethink payment security mechanism, we had first to examine what is in place today. The current security model contains fundamental flaws and suffers from assumptions that are overly broad and ultimately unnecessary. A series of patches and Band-Aids have been billed as best practices and part of an in-depth security strategy. And although these security practices are helpful in protecting data in a generic sense, they do not focus on the real issues of the credit card payment systems.

Now Mobicash would like to propose a more elegant way to look at credit and debit payment security that renders the value of card account information useless to attackers and brings assurance to consumers.

The starting point of our strategy was the need to develop a convenient, secure and affordable payment platform that will address the use of our technology to enable anyone who is not served by financial institutions to start using financial services without having to access them through traditional bank branches. We were able to devise a realistic business model and plan that utilize the convergence of banking and telecommunications technologies. With MobiCash, every phone becomes like a bank account that is identified by its phone number. Users can easily load, transfer, spend, give or retrieve cash from their phone.

Then, we looked at the possible points of failure for credit and debit card payment information. When a consumer makes a purchase using his credit or debit account where a card is not involved, whether online or offline in a scenario such as a phone purchase, he supplies this data to the merchant in order to prove he has the resources or credit to pay for the merchandise. This data passes through various systems within and beyond the merchant environment through payment gateways, back-office applications, acquiring banking networks and systems, issuing banks, and card association networks.

MobiCash leverages the ubiquity and power of the standard mobile phone as a payment platform, delivering more customer convenience. MobiCash is able to offer anyone with a cell phone a convenient, simple and easy to use mobile payment and banking at low transaction fees regardless of the device and the mobile network operator he is on. MobiCash turns any cell phone into a Merchant Point of Sale (PoS), giving the merchant the ability to do both Merchant-to-Customer and Customer-to Merchant transactions opening up business opportunities for a multitude of small businesses and operators. The merchant can sell goods and services as well as take deposits and provide cash back services.

Our Technology is a cornerstone of MobiCash’s product development and marketing strategy using any cell phone, over any network! Overview of the technology include: NSDT™ (Near Sound Data Transfer) and Voice Biometrics that works immediately on every phone. Transactions are securely signed with NSDT™ a technology that sends “cryptosounds” through the phone’s audio channel to enable contact-less mobile payment. Authenticating a user with Voice Biometric is accomplished by comparing the voiceprint that was created at enrollment to a sample given when the user wants to sign a transaction. Authentication is very fast; it can be completed in 0.5 seconds. You can’t steal voice!!!

Actually we are looking for a mobile payment presence in USA to partner with a local company to work hand-in-hand with us to open new doors throughout North America and assist in expanding our global network of the mobile payment business.

You can be that partner. Please visit as well our website: http://www.mobicashonline.com

Assist us to rethink the payment system! Waiting for your feedback!