PAYMENT "SUITE OF SIX"

After working extensively with numerous banks for the past year we decided to take this experience and focus on the following six (6) solutions. We made this decision because each of these specific applications will drive substantial value to the bank's bottom line. This value is in the form of increased revenues, increased market share, increased customer loyalty, increased revenue streams and decreased fraud and fraud-related losses.

We also selected these solutions because they not only represent a logical migration path into the mobile transaction world but also drive tremendous value in the form of cost savings and revenue generation into the entire bank eco-system.

FonWallet offers banks a fully integrated solution capable of entrenching each bank firmly into their respective customers financial activities. FonWallet is a critical component that will allow banks to not only maintain their market share and competitive edge today but in the future as well.

FONALERT 

Brief Description Of Solution: FonAlert is the ability for the user to send and receive alerts, support requests, account alarms, transaction violations, transaction requests, messaging, advertisements and perimeter violations to the customer's mobile device from the bank command center. This is effective in maintaining real-time communications with bank customers regardless of bank instrument being used. This solution works across the entire banking eco-system.

Goal Of Deploying Service: To get the information out to the bank customer as quickly as possible to resolve and inform customer about current or potential issues. FonAlert also is an effective way to start getting the bank customer comfortable with using the mobile device for banking functions and more importantly it is paramount in driving the bank into becoming the center for all of  their customer's financial operations.

Positives: Increase customer care and loyalty, decreased fraud, maintain communications with customer, continue to drive customers towards the Bank by controlling mobile device and mobile wallet 

Steps Taken for Service to Work: User needs to give bank their mobile device number and add FonWallet services

Changes in Payment Process Needed: None 

Bank Revenue Generating Solution: No, this is a defensive solution designed to maintain and cement customer loyalty and build the beginning stages of  becoming the hub for their customer's financial operations

Reduction In Bank Fraud Exposure : Yes, this should have a solid impact on decreasing bank fraud issues

Is FonWallet Ready: Yes/Immediately 

FONAUTH

Brief Description: FonAuth is actually two services bundled into one solution. The first component is the authorization part that allows the user the ability to authorize the transaction  for any card, internet, ACH, Bill Pay, Checking and MOTO purchase. The second component is the authentication of that user by forcing the entry of the PIN#, and even the entry of an individual CIN# can be added, before the transaction can be authorized. This is dual bit authentication for EVERY transaction.  

Goal Of Deploying Service: This is crucial to the future of mobile payment transactions since this allows every transaction to be both authenticated and authorized by the customer.

Positives: Will have a positive impact on reducing fraud and fraud related losses, eliminates skimming at the merchant level, gives banks and their customers full control over their finances, cements customer loyalty and furthers the migration for banks to place themselves at the center of their customers financial operation. 

Steps for Service to work: User needs to give bank their mobile device number, we can either send request via XMPP (preferred), SMS or WAP. If sent via XMPP customer needs to deploy client on the phone.  

Changes in Payment Process Needed: None

Bank Revenue Generating: No

Reduction in Bank Fraud Exposure : Yes

Is FonWallet Ready: Yes/Immediately 

FONMASQUE

Brief Description:  The masque system is utilizing a ID Number to represent the card number, it is not the actual card number but a "fake" number that is used in its place. We have broken it down into two phases:

·         Phase 1: Utilize the FonWallet ID Number as the “fake” Credit Card Number and fill out all of the information and follow the same check-out procedures the web site is currently using.

·           Phase 2: Fill out only the card number and hit send. This would require merchant changes but this is a cool way to enable a “quick checkout” solution and drive control further into the banks hand by focusing the customer on using the Bank-based Wallet for all financial matters. 

Goal Of Deploying Service: Utilize the existing payment footprint, plus utilize the current card process but  increasing the efficiency and speed of this process

Positives: Significant drop in bank losses from fraud and ID theft, Next step in getting mobile solution to market for banks, maintain control over customers and also continues to drive control into the bank, ability to utilize the current payment and merchant footprint to generate large revenue as well as directly attack the remote pay and .mobi markets

Steps for Service: User needs to give bank their mobile device number and be assigned masque number by bank

Changes In Payment Process Needed: None in Step 1 but Merchant changes needed in Step 2

Bank Revenue Generating: Yes

Reduction In Bank Fraud Exposure : Yes

Is FonWallet Ready: Yes/Immediately For Both Phases

PRESENCE PAY

Brief Description: Ability to utilize the mobile device at the point of sale terminal site

Goal Of Deploying Service: To attack the POS footprint plus FonWallet offers a much safer and "cleaner" way to handle NFC. Again with FonWallet's "spin" on the NFC model we do not require the mobile device to handle card information, thus a much safer and easier solution to deploy FonWallet inside the NFC Model.

Positives: Software change only, massive revenue upside, huge potential since this allows further replacement of the physical wallet 

Steps for Service: User downloads FonWallet client, merchant downloads software to POS terminal 

Changes in Payment Process Needed: Yes, merchant level needs changed 

Bank Revenue Generating: Yes

Reduction In Bank Fraud Exposure : Yes

Is FonWallet Ready: Not Quite / Demo completed in testing phase, projected length to production is 2-3 months 

REMOTE PAY

Brief Description: Ability to handle transactions from the .mobi sites via the mobile device directly. FonWallet allows any card to be used and this will be our flagship solution as this market matures. 

Goal Of Deploying Service: To conquer the remote pay and contactless market. This solution is very powerful and easily the best method on the market. It also allows for complete replacement of the physical wallet to occur

Positives: Major cash opportunity for banks, ability to drive entire market and thus control the solution all together  of a potential $726 billion dollar market that is growing. Also allows banks to attack and control specific payment processes and vertical niche markets. For example, content, ticketing, IP/TV etc..,

Steps for Service: User downloads FonWallet client  to mobile device

Changes in Payment Process Needed: Yes, merchants need to deploy mobile device ready web sites with mobile capable checkouts, currently only a limited amount of merchants are deploying a mobile site solution and we have the best method of conducting transactions in this potentially massive market.

I can not emphasize the power this brings to banks and they need to address this opportunity now, we can easily control and prod (push and nudge) merchants to deploy their .mobi and mobile sites, they have yet to build them so now is the time to help them as well as control this entire solution. Complete "Green Field" environment now exists! 

Bank Revenue Generating: Yes

Reduction In Bank Fraud Exposure : Yes

FonWallet Ready: Yes / Immediately 

IMPULSE PAY

Bank Revenue Generating: Yes

Reduction In Bank Fraud Exposure : Yes

Please Note:

FonWallet's is a foundation on which countless new revenue markets can be launched. Our unique design and client/server methodology allow for rapid and easy deployment of new services.

FonWallet can expand into any industry very fast with all of the above solutions enabling the processes. For example, ticketing, shopping, music, IP/TV, Content etc.., Each of these represents massive new markets for the banks to attack and profit from entry into these markets.