VeriFone announced a partnership with SK C&C, a Korean IT services company, to deploy open mobile payment technology for mobile network operators.
The news comes shortly after VeriFone disclosed it would step back from a separate mobile payment technology, Sail, which allows merchants to accept swiped card payments with a smartphone or tablet.
SK C&C will use VeriFone's OpenAPI technology to deploy payment systems with several mobile network operators. VeriFone's OpenAPI interface standards dictate how a mobile wallet may communicate with a merchant's acceptance terminal. The standards also ensure that coupons, offers, loyalty and other value-added wallet data are universally accepted.
Mobile network operators "are eager to deploy an end-to-end wallet solution, but need standardized interfaces and technology platforms to manage the complexity of advanced value-added mobile wallet applications for both consumers and merchants," says Paul Rasori, senior vice president of marketing at VeriFone, in a Feb. 27 press release.
"VeriFone payment solutions and service are widely adopted globally and, combined with our Paymedia Mobile Marketing Platform, provide a management solution for SK C&C's wallet infrastructure," he adds.
VeriFone has also reportedly completed the sale of its Sail mobile payment service. The Sail website says the company will "soon begin the process of transferring our direct sales business to new ownership," and Mobile Payments Today reports merchants began receiving emailed notices about the change.
VeriFone signaled its intention to divest Sail assets back in December.