Products - VCpay Mobile Payments - Benefits

By: Bgs Smartcard  11-11-2011


  • Peace-of-mind (protection of personal data & paymentsecurity).
  • Speed, convenience and ease-of-use.
  • Adapted to the needs of the e-shopping/mobile generation.
  • Non-cardholders and unbanked consumers can benefit from state-of-the-art online payment technology.


  • Non-repudiation (eliminate charge-backs).
  • Cheaper than alternative payments (Paypal, etc.).
  • No change to existing online shopping carts and processing infrastructure.
  • Mobile coupons/discounts can generate demand and increase customer loyalty.
  • Physical retailers can service customers on the spot by accepting payments from cell phone to cell phone in-store, thus bringing the point of sale to the decision, instead of making people queue up behind the cash register.


  • Answer consumer concerns for personal information protection.
  • Reduce fraud and risk below card present level (Chip + PIN).
  • Cost effectively service under-banked geographies.
  • Generate new customer segments at a very low cost of acquisition.
  • Alternate revenue channels besides the standard card payment product portfolio.

Mobile Operators

  • Churn reduction & increased customer retention.
  • Ease of deployment: ever more customers have cell phones with the ability to download apps.
  • Leverage the investments made in infrastructure over the last two decades.
  • Generate Incremental revenues (fee per transaction).
  • MNOs long tradition of micro-payments (ringtones, music downloads via SMS) places them well to extend these services in order to unleash the full potential of mobile payments.

Other products and services from Bgs Smartcard


Products - VCpay Mobile Payments

Net1 has developed an innovative mobile phone-based payment solution that enables secure purchases with no disruption to existing merchant infrastructures and significant incentives for all stakeholders. VCpayTM enables a consumer to securely generate a one-time use Mobile Virtual Card number for a specific purchase amount on his/her mobile handset.


Products - VCpay Mobile Payments - Technology

An MVC number fully complies with the card scheme rules by keeping the format of 23 digits that are usually printed on a credit card, while using these digits for the creation of a virtual card cryptogram. The VCpayTM application combines the key advantages of two incredibly successful and pervasive products: the portability of a mobile phone and the convenience of a credit/debit card.


Products - VCpay Mobile Payments - Payment Process

After verifying the transaction amount, identifying the VCpayTM cardholder, and validating the MVC, the VCpayTM Host Server sends an authentication response back to the Issuer, who can then proceed to authorize the transaction depending on the availability of sufficient client funds.


Products - VCpay Mobile Payments - Security

Before a mobile phone owner can start using VCpayTM, he/she needs to activate the application by registering with the Issuer, selecting a funding account, and choosing a PIN that will be used to protect the application. In order to protect a cardholder from common threats posed by the Internet and similar environments, it is necessary to secure the very process of generating Mobile Virtual Cards.


Products - VCpay Mobile Payments - Case Study

Net1’s first distributor for VCpayTM in the United States, MetroPCS, has several million subscribers, and offers VCpayTM to its prepaid customers as an application that is preloaded on all MetroPCS Android and new Blackberry phones or can be downloaded on select existing devices.