Using the Paydiant mobile payment and offer redemption platform, the Vantiv Mobile Wallet works with existing smartphones, including iPhone and Android devices and does not require hardware upgrades to existing point-of-sale systems and payment terminals.
The Vantiv Mobile Wallet has two components. The first is a software-only acceptance interface that can be deployed on POS or payment terminals across consumers’ and merchants’ touch points including large multi-lane retailers, small single lane merchants, pay at the table restaurants, ecommerce marketplaces, drive-through quick service restaurants and fuel dispensers. The second is a software only mobile wallet that enables users to make payments using mobile payment methods at checkout, allowing financial institutions and retailers to issue their own branded mobile wallet or integrate mobile wallet functionality into their existing mobile banking or commerce applications.
Paydiant provides a mobile payment and offer platform that allows banks, retailers and restaurants to deploy mobile wallet capabilities into their iPhone and Android applications. Paydiant enables retailers to accept mobile payments and offers using their existing point-of-sale infrastructure while allowing consumers to make payments, redeem offers and receive e-receipts for purchases made online and in-store using mobile wallets installed on their existing iPhone and Android smartphones.
Vantiv (formerly Fifth Third Processing Solutions) was founded in 1971. Vantivs product suite includes ATM terminal driving and monitoring, ATM and debit card transaction authorisation and processing, credit issuing and processing services, national and regional gateway services, ancillary services including fraud detection, card production and other consultative services.
In recent news, Vantiv and direct banking and payment services company Discover Financial Services have extended their alliance to support PayPal In-Store checkout at Vantivs brick-and-mortar merchants over the Discover Payment Services infrastructure.
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