The idea of utilizing your mobile phone as a means of making payments has been around nearly as long as the mobile phone, but until now they were just that: ideas. The concept and benefits of payment via the mobile phone is wildly popular with consumers, retailers, card issuers and processors alike. Over the last five years, the hype regarding utilization of mobile payment programs around the world has created an unprecedented appetite for these services in the United States along with a host of solutions including Near Field Communications (NFC), Biometrics and SMS Pin Codes. Despite the strong demand from all parties in the payments ecosystem, none of these “3^rd Generation” payment applications have garnered significant market penetration. The reason behind slow acceptance of these applications in the United States is well known; a limited number of mobile devices have the technology required and/or the solution requires merchants to install new, expensive hardware at the point of sale. Understanding these barriers, RocketBux has developed a mobile payment product which is deployed with technology and operations that are in place today.

Mobile Card – The RocketBux mobile payment application leverages our secure mobile barcode technology that is transmitted and optimized in real time to a user’s mobile device.  This barcode is a standard 1D code symbology that is widely utilized by retailer POS systems and can be scanned using many of the barcode scanners available and installed in the retail marketplace today.  The mobile barcode represents a payment account provided by an issuer or processor. The mobile barcode is scanned directly off the consumer’s mobile device to initiate the transaction which is transmitted and settled through the existing payment rails. This solution is optimal for Gift Card, Closed Loop Store Value Cards and PLCC (Private Label Credit Cards).