CHICAGO, March 15 /PRNewswire/ -- The MoBeePay iPhone application (other versions coming soon) allows buyers and sellers to connect and transact business in seconds without having to go through a time-consuming, risky payment process. Unlike PayPal, MoBeePay removes the need for a web based store and moves the transaction anywhere a merchant or consumer desires whether in the digital or the physical world.
Sellers register their products with MoBeePay and receive MoBeeTags (data matricies) and or MoBeeCodes (product codes) from MoBeePay, which are stored in the MoBeeHive (cloud). Buyers merely point their iPhone camera at the MoBeeTag in a magazine, on a billboard, or any print ad. Once the MoBeeTag is captured by the app the data is securely sent to the MoBeeHive. The MoBeeTag is compared, verified, and then the purchase is completed instantly if the user has signed in to their MoBeePay account.
If a user has not signed in they will be prompted to either sign in or sign up for an account directly in the MoBeePay app. The seller is notified of a successful purchase and the merchandise is shipped directly to the consumer from the manufacturer or retailer to the address on file, or in the physical world, handed to the buyer. Buyers who are unable to capture an accurate image are also able to enter a MoBeeCode as an alternative. This MoBeeCode or MoBeeTag can also be sent via SMS or MMS to the MoBeeHive if the user does not have an app compatible phone.
Like Square™ or VeriFone's PAYware™, MoBeePay will soon be offering a MoBeeMerchant application with hardware (MoBeeSwipe) that will enable mobile merchants or small retailers to accept credit and debit purchases at card present rates by plugging the MoBeeSwipe into an earjack.
Utilizing the same MoBeeTags with MoBeeMerchant, merchants can avoid the need for costly POS systems while still enjoying the benefits of an electronic transaction and inventory management system at competitive merchant discount rates.
MoBeePay was developed by Kent Mages and Kenneth Mages and has multiple patents pending. All MoBee terms herein are trademarked.
To see a demo visit www.mobeepay.com and let us know that you're interested.
MobeePay is the world's first mobile commerce application that allows anyone with a cell phone to complete purchases anywhere anytime and/or instantly open a merchant account on the web or in the physical world for free.