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Payfone (1)

Kenneth Carnesi, JD
Kenneth Carnesi, JD

Payfone was developed to allow secure mobile payments over the phone by saving credit cards within the app and sending encrypted card info to merchants. It is useful for businesses that take orders over the phone like restaurants and television shopping networks. When taking card payments over the phone, businesses currently write down card numbers risking security flaws. Payfone addresses this by providing a unified app for customers to make payments and merchants to accept them securely.

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Payfone mobile payment solutions
Why this service was developed Given today's security concerns and the ever increasing popularity of credit cards, a rift was forming: how could one safely make payments that required reading credit card numbers over the phone?
Businesses perfect for Payfone Restaurants with takeout/delivery services Pizzerias Chinese Food Etc. Television shopping networks Magazine/newspaper listings Other small/family businesses Virtually any business which accepts credit card payments over the phone
Security issues When reading digits over the phone, especially to pizzerias or Chinese food restaurants without Point Of Sales systems, a human has to: write the numbers down on the ticket enter the numbers into the credit card terminal hand the ticket to the chef hand the ticket to the delivery driver
This leads to many obvious security flaws Thus, the Payfone app offers the following service: Save your credit cards within the app Save your favorite merchants who support the app View your orders pending with merchants Send encrypted card info to make payments securely Accept payments from other app users Search for all merchants who support the app Find nearby businesses who support the app Connect one client with multiple merchants all through a unified app experience
Ease of use In addition to making payments safer, the Payfone app was also designed to simplify the payment process. It reduces the need for: Searching for cards in a wallet Reading the numbers over the phone Searching for nearby merchants
How it works
How it works
How it works
How it works
How it works
How it works
How it works
How it works
Profitability The Payfone app can be monetized in many different manners: A flat merchant fee upon signing up if a user wants to accept payments or become listed in the search A per-purchase convenience charge of less than 3% (acting as Merchant Services) Using a user's purchase history for targeted advertisements
Google Wallet This service can be easily integrated into Google Wallet, as the card information already exists and is encrypted. With this service, Google Wallet will become more viable for smaller businesses and businesses where transactions cannot be made in person.

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Payfone (1)

  • 2. Why this service was developed Given today's security concerns and the ever increasing popularity of credit cards, a rift was forming: how could one safely make payments that required reading credit card numbers over the phone?
  • 3. Businesses perfect for Payfone Restaurants with takeout/delivery services Pizzerias Chinese Food Etc. Television shopping networks Magazine/newspaper listings Other small/family businesses Virtually any business which accepts credit card payments over the phone
  • 4. Security issues When reading digits over the phone, especially to pizzerias or Chinese food restaurants without Point Of Sales systems, a human has to: write the numbers down on the ticket enter the numbers into the credit card terminal hand the ticket to the chef hand the ticket to the delivery driver
  • 5. This leads to many obvious security flaws Thus, the Payfone app offers the following service: Save your credit cards within the app Save your favorite merchants who support the app View your orders pending with merchants Send encrypted card info to make payments securely Accept payments from other app users Search for all merchants who support the app Find nearby businesses who support the app Connect one client with multiple merchants all through a unified app experience
  • 6. Ease of use In addition to making payments safer, the Payfone app was also designed to simplify the payment process. It reduces the need for: Searching for cards in a wallet Reading the numbers over the phone Searching for nearby merchants
  • 15. Profitability The Payfone app can be monetized in many different manners: A flat merchant fee upon signing up if a user wants to accept payments or become listed in the search A per-purchase convenience charge of less than 3% (acting as Merchant Services) Using a user's purchase history for targeted advertisements
  • 16. Google Wallet This service can be easily integrated into Google Wallet, as the card information already exists and is encrypted. With this service, Google Wallet will become more viable for smaller businesses and businesses where transactions cannot be made in person.