Soprano Announces Release of M-Pay

SOPRANO M-Pay offers a universal solution for the instant transfer of funds to and from credit cards and bank accounts. Transfers are initiated using common web and mobile devices. There is no need for any end-user registration to send or receive money, thus significantly improving the attractiveness of the service to incidental users.

The key to success lies in the feature packed pre-configured hardware and software solution, which enables banks to setup, configure, run and support a branded person-to-person payment service in 7 simple steps. SOPRANO does not offer its solution as an ASP service and hence does not compete with its customers. “Financial institutions have key concerns about services run by third parties and the associated growing per transaction costs. Banks demand control over security, interface and customer ownership” said Robert van Veenendaal, Vice President Global Products.

“This product provides financial institutions with a low total cost of ownership, quick ROI, simple installation and simple configuration to rapidly activate new customer services” states Dr Richard Favero, founder and CEO of SOPRANO Design.

SOPRANO M-Pay will begin shipping from the 1st August 2002.