MCPayment spearheading the mobile payment industry with FFastPay

Zafirah Salim

Local electronic transaction processing and mobile payments solutions organisation, MCPayment has been bagging several awards lately, and it’s got its signature FFastPay mobile payment device to thank.

Earlier this month, MCPayment was awarded the prestigious Hong Kong ICT Awards 2014 for the Best Mobile Apps (Certificate of Merit) award, and was nominated as one of the SME 1000 emerging companies by DP Information Group. Besides that, it was also shortlisted under the “Best Mobile Payments Implementation” at the 3rd Annual Smart Awards Asia (Cards & Payments Asia 2014).

FFastPay is a mobile point-of-sale (MPOS) card reader that enables credit and debit signature card acceptance via web-enabled mobile devices and a mobile application. According to its media statement, this device has been developed to act as the bridge that connects telecommunications and payment networks quickly and securely.

FFastPay provides several key benefits, according to the vendor. Firstly, it is very secure as it holds the highest level of security certification, which is EMV Level 2. Cardholder data is never stored on the mobile devices so that consumers can enjoy a more flexible and secure payment experience.

Secondly, it offers user-friendly mobility. It is a convenient, secure, low-cost solution that enables payment on-the-go and drives new business opportunities through high customer engagement. Also, no additional phone line is required as it uses the merchant’s existing mobile phone connection; and it can be used on both iOS and Android platforms.

Lastly, it offers quality, speed, and flexibility. The card reader has been thoughtfully designed and rigorously tested to withstand thousands of transactions. Payments can be processed in real time, resulting in fast and efficient funding of merchants’ bank accounts.

“We are extremely honoured by the industry recognition of our MPOS solutions in the Asia Pacific region,” said Anthony Koh, Group CEO of MCPayment. “As Asia is becoming more connected, merchants and consumers in the region are demanding quick and secure payment systems to facilitate their purchases.”

“We are one of the first MPOS solutions to accept Visa and MasterCard; as well as obtain Visa Ready. Currently, we achieve the fastest processing time in the region with a transaction speed ranging from 2 seconds to 8 seconds. We will continue to work with card issuers and merchants to provide more convenient and accessible mobile payment solutions.”