Mobeewave’s PayMeTap App Spreads Across Canada

April 20, 2016, Written By John H. Oldshue
mobeewave

Mobeewave announced its mobile peer-to-peer (P2P) payment app, PayMeTap, is out of its beta test and now available to people across Canada.

PayMeTap, which is free for Android devices in the Google Play Store, allows people to pay back their friends and family, collect donations, sell used items and receive payment for services. To accept a payment, a user just needs to tap a payment card against their phone. After the card is tapped, money will be deposited into the user’s account within 48 hours.

Mobeewave, which was selected as a finalist in the Payment and FinTech category at the recent 2016 SXSW Accelerator Competition, uses near field communication (NFC) technology to enable PayMeTap payments. No external card reader is needed, and the person making the payment does not need to sign up for the service. Users can even add a small service fee in lieu of absorbing the processing cost.

Transactions are also safe, as PayMeTap does not store any credit card information in the cloud. Transactions are encrypted using secure sockets layer (SSL) protocol and monitored and analyzed using live automated programs. Mobeewave, which adheres to the Payment Card Industry Data Security Standard (PCI – DSS), also uses random manual verification to detect and stop suspicious activity. Users can add even more protection by adding a PIN.

“With countries around the world embracing the concept of a cashless society, we recognized the need to give people the ability to accept payments – and make payments – with their phones,” said Maxime de Nanclas, COO and co-founder of Mobeewave. “This ability is only really useful if it offers users the greatest amount of flexibility and highest level of security. That’s why PayMeTap allows users to receive payment using credit cards without needing the other person to sign up for the service or share personal information.”

 



The information contained within this article was accurate as of April 20, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.