12th September 2017

Anderson Zaks and Tola Mobile announce new payment solution using mobile phone credit

Anderson Zaks has partnered with Tola Mobile to develop a new payment solution for customers using their mobile phones. The new payment option monetises credit on mobile phones, both pay as you go (PAYG) and contract phones, enabling customers to pay for goods and services at point of sale with their phone number (or just using their phone). The solution combines Anderson Zaks’ payment gateway integrated with Tola Mobile’s billing platform, and provides an innovative extension to Anderson Zaks’ existing card payment services.

The new solution enables customers to pay at point of sale with their mobile phone instead of using debit or credit card. The telephone number is typed into the chip and pin device connected to the Anderson Zaks/Tola Mobile payment platform, which determines the network and value of the credit stored (PAYG) or contract credit. Once validated, an authentication number is sent back to the mobile, which the phone owner types into chip and pin or gives to the merchant to authorise the sale and confirm the transaction. The benefit to the merchant is that the transaction is handled at no cost, unlike the charges on credit and debit cards.

Iain High, Managing Director at Anderson Zaks, said: “This new solution will offer merchants a real alternative to cash and card credit and debit card payments and widen payment choices for customers. For Anderson Zaks working with Tola Mobile to deliver this additional flexible mobile phone payment option extends our portfolio as a payment gateway provider to offer additional alternative payment transaction solutions for merchants now and for the future.”

Jonathan Davison, Head of Business Development at Tola Mobile, said: “Anderson Zaks is a dynamic and entrepreneurial company that really knows the payments market. Their reputation in the sector makes them the partner of choice for us as we introduce this new technology into the competitive payments market. This latest solution presents an innovative way of liberating stored credit and enables consumers to pay with the convenience of their mobile phones.”