RFinity, a technology company specializing in secure near field communications (NFC) mobile payment transactions, has been nominated by Contactless Intelligence (CI) for its Monkey Award in the category of Trailblazing and Innovation. The award recognizes exemplary companies worldwide that further the boundaries of contactless technology through product introduction or pilot programs. The winners will be announced at CI’s spring conference on April 29 in London.
This nomination follows a successful pilot program that began last fall at Brigham Young University-Idaho, where students are using RFinity-enabled cell phones to securely and conveniently make purchases at the campus bookstore.
“Receiving the nomination for this international award certainly is an honor. It clearly recognizes RFinity’s innovative solution for secure mobile commerce and acknowledges the success of our historical pilot program at BYU-I, where students used our groundbreaking technology to make purchases,” said Steve McCown, interim RFinity CEO.
“Because we use the most advanced encryption standards,” he added, “students can confidently make purchases at the store knowing that their personal information won’t be intercepted or compromised.”
Mobile commerce has been dependent on security and transaction technologies adapted from the outdated magnetic strip credit card industry, from Near Field Communication (NFC) technologies designed for product tracking, and from mobile phone technologies that were never engineered for the level of security needed to conduct financial transactions.
RFinity attacks these weaknesses with innovative technology offering consumers the confidence that their personal information will remain secure and confidential, a feature that will eventually push m-commerce into everyday use. Cell phones can be RFinity-ready in a matter of seconds after an RFinity microSD card is inserted into the phone.
The potential applications for this technology are numerous. RFinity mobile technology could be adapted to enable consumers to use their cell phones to check in and access hotel rooms, purchase tickets for sporting events and concerts, store and access personal medical information, or even verify identity.
“People, particularly college students, don’t go anywhere without their cell phones, so the convenience of being able to make purchases or to conduct a number of transactions without having to carry a wallet or purse and know that your information is secure is very appealing. RFinity enables safe, convenient, confident, and rapid electronic purchases and personal identification with the same technologies used to secure our nation’s secrets,” said McCown.