Cimbal Launches Mobile Payment Services

Cimbal, is the software-based payment service developers for mobile phones announced that they commercially launched their service in the USA following a four month test phase.Cimbal user creates a payment request on his phone or the Web. Cimbal's system produces a single use 2-D barcode token that does not include the transaction details or other sensitive data. The payer launches Cimbal on his mobile phone, enters a PIN, and scans the 2-D barcode. Cimbal authenticates both parties and prompts them to confirm each other's identity. The system authorizes available funds and clears the transaction in seconds. This means both will receive a confirmation receipts on the devices in account history.


Reference: http://www.cellular-news.com/story/45112.php