The solution works by using an existing mobile phone along with Myztro from TranZfinity and a mobile POS application. The company`s Myztro is an NFC to Bluetooth device that enables smartphones to take advantage of the technology for payments, loyalty, and other similar transactions. Myztro can attach to a mobile phone physically, or be kept in close proximity, and communicates with the phone via Bluetooth.Initially, the solution will support closed-loop pre-paid card schemes, with MasterCard PayPass, Visa payWave and PayPal Mobile to be added in the near future.
TranZfinitys Secure-Z ETSM platform will offer delivery and maintenance for the payment application. The platform can be either hosted by TranZfinity or offered as an enterprise license to companies interested in providing TSM services for the remote management of applications and devices.
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