Tyfone has entered the mobile wallet market with iCashe.
Built on top of Tyfone's u4ia mobile financial services platform, this is pitched as the industry's only service to blend comprehensive mobile banking features with convenient consumer purchasing, gifting and loyalty programmes. With the option of adding SideTap microSD secure element technology, iCashe also enables NFC payments.
"iCashe is the first wallet service that allows people to use mobile banking for commerce," says Siva Narendra, Tyfone's president of North America. "A bank ATM card has limited value if a person can only use it to check balances or transfer funds; the same is true for a mobile banking application. By providing consumers a mobile application that combines banking with commerce capabilities, we're not only putting the value and utility of a real wallet into a mobile app, we're strengthening the bond between consumers and financial institutions. If banks give their customers something of value, it's fair for them to make money from it. iCashe is the first service giving financial institutions revenue generating opportunities from mobile banking."
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