Wibmo Inc. Launches 'Wibmo One Step' Authentication and Payment Solution for Online and Mobile Payments

MUMBAI, August 31, 2016 /PRNewswire/ --

Wibmo Inc., a leading provider of authentication and payment solutions in consumer payments, today announced the launch of Wibmo One Step^[TM], the next generation authentication and payment solution for consumer payments.

No Need to Wait for One-Time Passwords 

Wibmo One Step^[TM] is positioned by the company as a game changer in the emerging market for mobile payments. It brings together the best of breed technologies and processes in security while simplifying the payment process for the consumer. "With the seamless integration of the consumer's device, personal credentials, and data secured and validated by the participating bank - all in real-time, Wibmo One Step^[TM] for the first time, enables the consumer to conduct a fully-authenticated transaction, truly, in one step - with just a tap on the 'Approve' button on a mobile app," said Mr. Govind Setlur, CEO of Wibmo Inc. The complexity involved in securing the transaction and completing the payment is managed transparently between the bank's authentication systems and the underlying Wibmo OneStep^[TM] technology.

"For the first time, the consumer can make a payment on his mobile device without the visible, multiple steps involved in today's payment authentication process. The consumer does not have to provide additional data on each transaction or wait for an OTP," he said.

No Need to Move Money From Cards to Wallets Either  

"The power of Wibmo One Step^[TM] is not just its security and simplicity in the payment process; the consumer can now pay directly from his or her credit, or debit card without having to move money into one of the many virtual wallets just to simplify the payment process. This is a game changer, an enormous advantage for banks that have issued millions of credit and debit cards, and are looking for ways to get their cardholders to use cards directly in mobile payments. Until now, the banks faced the prospect of their cards being merely used to load third-party wallets. This more than levels the playing field for banks," added Mr. Setlur.

"The multifactor authentication in Wibmo One Step^[TM] is a verification of the unique combination of the user, user's device, and user credentials with the bank. In addition, the transaction is completed without sending any card details to the merchant. One-Step^[TM] for the first time, brings together the best combination of security and ease of use," added Akshath Shetty, Sr. Director, Product Engineering with the company.

According to the company, Wibmo One Step^[TM] is being incorporated into mobile payment offerings by a number of banks; this includes HDFC Bank, India's leader in digital payments, that recently launched PayZapp One Click payments using Wibmo One Step^[TM] technology.

For further details please contact: [email protected]  or [email protected] .

About Wibmo Inc. 

Wibmo Inc. (formerly enStage), is a leading provider of payment solutions and processing services in emerging markets. The company is the largest provider of e-commerce authentication services in India with engineering and operational services based in Bangalore.

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