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.

1. Payfone
mobile payment solutions

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.
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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:
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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

7. How it works

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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.