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HSBC launches M-CA$H, new mobile shopping payment system
veículo: CMA News   
data:28/06/06



The system is the world's first shopping payment system via cell phone. Purchases will be paid automatically out of the current account, guaranteeing customers comfort, security and mobility. The initiative is lead by HSBC Bank Brazil, in partnership with the group Ibope. Until July 31 HSBC will run a M-CA$H pilot project with the 27,000 employees of the bank. After that, the payment system will be extended to all clients of the bank.

Ana Paula Lobo, de São Paulo

HSBC Bank Brazil has launched an innovative shopping payment system via cell phone. Called M-CA$H, the pioneer technology offers automatic debit from the client's current account, who enjoys the comfort and convenience of mobile financial transactions anywhere in Brazil and eventually abroad, with no additional cost and with maximum security.

The initiative has been launched in partnership with the company M-CA$H, which includes as its shareholders Megadata (Ibope group) and Albatroz Participações, and will be initially directed to e-commerce (Internet stores) and later to big retail groups.

Until July 31 HSBC will run a M-CA$H pilot project with the 27,000 employees of the bank. After that, the payment system will be extended to all clients of the bank.

M-CA$H technology will be available in any cellular device (brand, model or operator) and the contact will be made by voice. The system works for both postpaid and prepaid phones. Another benefit is privacy. The buyer will not tell his card number or any personal information, only his cell phone number.

To increase security, banking transactions will only be approved if the buyer confirms the purchase by typing a password, exclusive for mobile banking transactions, on his cell phone. All HSBC partners will be previously registered by the bank.

Another advantage of M-CA$H is that the service is free. HSBC will not charge any tariff and buyers won't need to pay for the cell phone call, since the bank will call them to confirm the purchase. The amount will be paid out of the HSBC client's current account right after the purchase confirmation.

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