“Rambus announced some exciting news regarding a comprehensive mobile payments platform to enhance payment security and protection,” writes Dautner. “The platform will greatly reduce operational costs and increase revenue for retailers adopting the system.”
As Dautner explains, the Rambus Unified Payment Platform safely and seamlessly converts and manages digital value to allow consumers to pay with credit, points and coupons in one simple transaction.
“The Unified platform has a few primary components that are key to its success,” he continues. “They include the Digital Value Manager, the Retail Wallet Engine, a white-label retail app and optional modules to support credit and debit cards, gift cards, loyalty points and coupons.”
The Digital Value Manager, says Dautner, is the core of the Unified Payment Platform, as it allows retailers to connect multiple third party service providers and convert various forms of digital value into a unified currency.
“The Retail Wallet Engine software allows complete integration with mobile payment products [and] the white label application software enables retailers to get their branded app quickly to market,” he adds. “Lastly, customizable modules provide retailers as well as merchants the ability to securely connect to third-party services.”
Rian Boden of NFC World also covered the launch of Rambus’ Unified Payment Platform, noting that it offers the ability to integrate in-aisle checkout features, digitizes customer receipts and provides the user with a full transaction history. Meanwhile, David Manners of Electronics Weekly points out that the platform will help increase revenue by enabling retailers to more easily engage in cross- or up-sell opportunities with integrated loyalty points and coupons.
“[The Rambus Unified Payment Platform] facilitates direct access to detailed shopping data, allowing retailers, banks and merchant acquirers to offer a personalized shopping experience and more effectively compete in a crowded marketplace,” he says. “For consumers, the platform unifies multiple units of value—including credit/debit, gift cards, loyalty points and coupons—into a single mobile app, along with digitized receipts and transaction history of purchases.”
It should be noted that the launch of Rambus’ Unified Payment Platform has been covered by a number of prominent FinTech sites, including Pymnts, FinExtra and MobilePaymentsToday. Interested in learning more? You can check out our product page here and our eBook below.