CoVantage Credit Union Deploys Tyfone Mobile Wallet Services to its Members

Posted on February 7, 2012 by tyfonepr

Tyfone’s mobile banking solution brings next generation mobile banking features including mobile banking for non-online bankers and account aggregation to CVCU members

PORTLAND, Ore. and ANTIGO, Wisc.– February 7, 2012

CoVantage Credit Union (CVCU), serving 17 counties in Wisconsin and Michigan, today announced the availability of Tyfone mobile wallet services to its members. CVCU teamed with Tyfone to bring mobile wallet services which include Symitar Episys core integrated mobile banking, enhanced strong ID authentication mobile security and a path to NFC contactless payment technology to its more than 66,000 members.

Tyfone’s multimode mobile banking solution offers a complete range of features delivered to banking customers via mobile application, mobile websites or text messaging. In addition to standard mobile banking features such as checking balance, account history review, fund transfers, branch and ATM location lookup and customizable alerts, Tyfone’s next gen mobile banking offers:

  • Mobile banking for non-online bankers: Most mobile banking solutions are simply an extension of online banking. To ensure all CVCU members can take advantage of mobile banking, a key feature of Tyfone Mobile Banking is its ability to offer mobile banking to 100 percent of a bank or credit union’s customer base, and not limit mobile banking only to those customers subscribed to online banking services. Members can enroll and manage their banking direct from their mobile phone without needing to be an online banking member. CVCU will see additional value by creating a self-servicing member while avoiding the cost of another online banking account.
  • Account aggregation: Another key feature unique to Tyfone’s Episys core integrated mobile banking solution is the ability to aggregate accounts so a user can view and manage multiple accounts with just a single login. This account aggregation feature allows a customer to see multiple CVCU accounts, (i.e., personal, business and jointly held accounts), in a single mobile banking session. While other mobile banking services require a unique login to manage each respective account, Tyfone Mobile Banking enables a more efficient and easier user experience.
  • ORCC Bill Pay: Tyfone’s integration with Online Resource’s (ORCC) bill payment services will give CVCU members the ability to create and manage payees, and schedule and edit bills as needed.
  • Mobile remote deposit capture: CVCU plans to add the mobile remote deposit capture (mRDC) feature to their mobile banking offering in Q2 of 2012. This will allow members to use a mobile phone’s onboard camera to photograph a check and remotely deposit the funds using the mobile banking service.

CoVantage, with 9 branches located throughout north central Wisconsin and upper Michigan, and over $944M in assets, has been ranked among the top credit unions in the nation for the value in services provided to their 64,000 members. CoVantage takes a proactive, yet methodical approach in utilizing technology to enhance the efficiency of its internal operations and member services making it a leading credit union in the Wisconsin and northwest Michigan area.

“CoVantage chose Tyfone because of its unique and innovative vision of the mobile channel which is echoed in its current features as well as its future road map of features including enhanced security and NFC contactless payments. Tyfone’s vision coincides with CoVantage’s long term mobile strategy, making them the natural partner to bring mobile banking to our members,” said Robert Van Abel, CIO of CoVantage. “Tyfone’s Episys core integration gives CVCU the ability to offer unique features such as account aggregation and the ability for non-online bankers to participate in mobile banking, both providing significant value for CoVantage and its members, particularly as our member base ranges from suburban to rural. We strive to make banking easier and more convenient to our entire member base and our partnership with Tyfone helps us deliver on that promise.”

Tyfone Mobile Banking™ is built on top of the company’s u4ia® mobile financial services platform that also enables contactless payments using near field communications (NFC) and strong authentication ID management, providing banks with a multi-faceted roadmap for offering comprehensive digital wallet and payment services.

“By integrating mobile banking with layered security and NFC contactless payments within a single application, Tyfone is enhancing convenience and enabling more mobile money features for CoVantage members. In coming months we will be rolling out even more mobile wallet features including mRDC and NFC contactless payments,” said Mark Miyamoto, director of mobile banking at Tyfone. “Our strategy has been to bring comprehensive and integrated mobile financial services to the market and we are happy to see innovative credit unions like CoVantage select Tyfone to power their mobile initiatives.”

To learn more about Tyfone Mobile Banking visithttp://www.tyfone.com.

About CoVantage Credit Union
CoVantage Credit Union is a $944 million financial institution headquartered in Antigo, Wisconsin. The member-owned financial cooperative serves more than 66,000 members through 10 offices located in central Wisconsin and upper Michigan.

About Tyfone
Founded in 2004, Tyfone’s corporate headquarters are in Portland, Oregon, and its Asia-Pacific headquarters are in Bangalore, India. Tyfone connects money and mobility via a highly secure, scalable and flexible mobile financial services solution tailored to meet the evolving needs of consumers, financial institutions, mobile network operators, transportation companies and retailers. Operating in any standard memory card slot, Tyfone’s u4ia® platform and its companion SideTap™ memory card comprise the world’s first patented, neutral, and comprehensive memory card-based payments solution for mobile contactless payments. Tyfone and its partners enable a suite of services including Mobile Banking, Mobile Identity Management, Mobile Remote Payments, Mobile Retail Services and Mobile Contactless Payments. For more information visit www.tyfone.com.

Tyfone and u4ia are trademarks of Tyfone, Inc. All others names are the property of their respective owners.

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OnPoint Community CU Debuts Tyfone’s iCashe Mobile Wallet

Posted on November 29, 2011 by tyfonepr

By Robert McGarvey

Portland, Ore.-based OnPoint has announced it is the first credit union to offer iCashe Mobile Wallet, an innovative tool created by another Portland organization – technology developer Tyfone – that will let OnPoint mobile banking users purchase gift cards on their smartphones.

The largest credit union in Oregon, OnPoint has more than 226,000 members and assets of $2.9 billion. It has long been a leader in offering mobile banking to members and it partners with Tyfone in delivering those services. That history made the decision to embrace iCashe easy, said Jim Armstrong, an OnPoint senior vice president.

Down the road, OnPoint said it may expand the iCashe offering by drawing upon its ability to power NFC (Near Field Communication) tap-and-pay powers on a smartphone. “Initially the NFC component is what got us excited about iCashe,” said Armstrong. “We see adding that at a later time.”

What is important about iCashe, added Armstrong, is that OnPoint’s out-of-pocket investment in getting the service up has been minimal, and he believes it has the potential to become a significant revenue producer.

“Gift cards are discounted on average 7 to 9%” – meaning a $100 gift card might cost the reseller who offers it $91 – “and so for us everything in iCashe has the potential to be upside,” Armstrong said.

Around 100 national merchants are included in the program, including Barnes & Noble, Fandango and Zappos.com.

Armstrong admitted that with iCashe “we are ahead of our members with this offering.”

That said, however, he added that although the service was launched with very little fanfare, “we were already selling gift cards within the first hour.”

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OnPoint Community Credit Union Partners with Tyfone to Launch iCashé Mobile Wallet Program

Posted on November 22, 2011 by tyfonepr

New service allows members to purchase and send gift cards with a smart phone

PORTLAND, Ore. – November 22, 2011 – Through a partnership with Portland-based mobile financial services firm Tyfone, OnPoint Community Credit Union today announced the launch of the iCashé Mobile Wallet program. iCashé Mobile Wallet provides OnPoint members with a simple and fun way to purchase gift cards on their mobile phones and send to anyone instantly by text message or email. OnPoint is the first credit union in the nation to offer the iCashé Mobile Wallet program to members.

Gift card recipients can use their cards in-store or online via their smart phone or with a printed copy of the confirmation email. More than 50 national retailers and restaurants are now offering the mobile gift cards for purchase, with local retail options expected to be added in the future. Current participating retailers include, American Airlines, Nike, K-Mart, Land’s End, Barnes & Noble, Overstock.com, REI and more.

“iCashé Mobile Wallet is the latest example of how OnPoint is offering the best technology and convenience services to its members,” said Rob Stuart, OnPoint Community Credit Union president and CEO. “We are happy to have a local company, Tyfone as our partner. Their commitment to providing secure and innovative mobile programs is remarkable.”

More information about Tyfone’s iCashé solution can be found at: www.iCashe.com.

About OnPoint Community Credit Union

OnPoint Community Credit Union is the largest credit union in Oregon, serving more than 226,000 members and with assets of $2.9 billion. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 13 Oregon (Benton, Clackamas, Columbia, Crook, Deschutes, Jefferson, Lane, Linn, Marion, Multnomah, Polk, Washington and Yamhill) and two Washington counties (Skamania and Clark). More information is available at www.onpointcu.com or 503-228-7077 or 800-527-3932.

About Tyfone
Founded in 2004, Tyfone’s corporate headquarters are in Portland, Oregon, and its Asia-Pacific headquarters are in Bangalore, India. Tyfone connects money and mobility via a highly secure, scalable and flexible mobile financial services solution tailored to meet the evolving needs of consumers, financial institutions, mobile network operators, transportation companies and retailers. Operating in any standard memory card slot, Tyfone’s u4ia® platform and its companion SideTap™ memory card comprise the world’s first patented, neutral, and comprehensive memory card-based payments solution for mobile contactless payments. Tyfone and its partners enable a suite of services including Mobile Banking, Mobile Identity Management, Mobile Remote Payments, Mobile Retail Services and Mobile Contactless Payments. For more information visitwww.tyfone.com.

Tyfone, iCashé, SideSafe, SideTap and u4ia are trademarks of Tyfone, Inc. All others names are the property of their respective owners.

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Tyfone Introduces iCashé Mobile Wallet That Combines Mobile Banking With Digital Commerce

Posted on October 12, 2011 by tyfonepr

iCashé is the first mobile wallet people can use today to make purchases from over 100 participating merchant brands

PORTLAND, Ore. and CTIA Enterprise and Applications in SAN DIEGO – October 12, 2011 – Tyfone (www.tyfone.com) announced today the availability of iCashé™, a new mobile wallet and eCommerce engine that for the first time delivers purchasing power through any mobile banking application. Built entirely on top of Tyfone’s award-winning u4ia® mobile financial services platform, iCashé is the industry’s only service to blend comprehensive mobile banking features with convenient consumer purchasing, gifting and loyalty programs. With the option of adding Tyfone’s SideTap™ microSD secure element technology, iCashé also provides contactless NFC payments and the highest level of secure identity management.

“While financial institutions recognize the need to provide mobile banking, the watch and wait approach many have taken towards mobile wallet services sets the stage for disintermediation by others including Google and ISIS,” said Andy Schmidt, research director at TowerGroup, a Corporate Executive Board company. “Combining mobile wallet with mobile banking gives banks – and merchants – the opportunity to avoid this disintermediation.”

The first iCashé feature to debut is a highly convenient commerce service available through a mobile banking application that allows people to purchase, send and redeem merchant gift cards from over 100 different name brand merchants including: Barnes & Noble, Fandango and Zappos.com. With iCashé, gift cards can be purchased and stored on a person’s mobile phone for personal use, or sent to anyone in the United States via email or text message. iCashé requires a person to be logged into a trusted mobile banking app, making purchasing highly efficient, secure and as easy as checking an account balance.

“iCashé is the first wallet service that allows people to use mobile banking for commerce,” said Siva Narendra, Tyfone’s president of North America. “A bank ATM card has limited value if a person can only use it to check balances or transfer funds; the same is true for a mobile banking application. By providing consumers a mobile application that combines banking with commerce capabilities, we’re not only putting the value and utility of a real wallet into a mobile app, we’re strengthening the bond between consumers and financial institutions. If banks give their customers something of value, it’s fair for them to make money from it. iCashé is the first service giving financial institutions revenue generating opportunities from mobile banking.”

Though Tyfone has built an award-winning and fully-featured mobile banking solution, there is no requirement for banks and other financial institutions to use Tyfone Mobile Banking in order to offer iCashé to their customers. Any financial institution can offer customers using electronic and mobile banking convenient commerce services built on top of iCashé, and all financial institutions using iCashé will immediately enjoy a new revenue stream based on incremental transaction fees from iCashé purchases.

“OnPoint Community Credit Union members who use Tyfone’s leading edge mobile banking service find great utility from it and have a greater volume of banking transactions,” said Jim Armstrong, OnPoint’s senior vice president of technology. “Giving people the ability to make purchases through OnPoint’s mobile banking app is a logical technology evolution.  Once the retail NFC infrastructure is in place, our mobile banking members using Tyfone’s iCashé will likewise be ready to make contactless payments through our banking app.”

Tyfone’s patented contactless payments technology lets people customize a secure digital wallet, just as they do with the wallet in their purse or pocket today. Tyfone’s SideTap microSD memory cards allow most phones on the market today to be enabled with contactless NFC payments. Tyfone’s secure ID management meets or exceeds the security and authentication requirements for corporate mobile banking and high value transactions; and for consumers, financial institutions can extend superior security technology engineered for mobile handsets to also include tablets and personal computers through the use of Tyfone’s SideTap or SideSafe™ microSD cards.

More information about Tyfone’s iCashé solution can be found at: www.iCashe.com.

For more information, Tyfone has provided a Q&A document for download.


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Tyfone to License SideTap™ MicroSD NFC and Secure Element Card Technologies to AboMem

Posted on September 19, 2011 by tyfonepr

Strategic relationship with AboMem includes go-to-market distribution of SideTap cards across China

PORTLAND, Ore. and TAIPEI, Taiwan – September 19, 2011 – Tyfone (www.tyfone.com) announced today an agreement with AboMem Technology Corp. (www.abomem.com.tw), Taiwan’s premier memory products manufacturing company, to manufacture, distribute and service Tyfone’s SideTap™ microSD NFC products. This partnership also includes a widespread distribution of SideTap microSD cards to consumers throughout The People’s Republic of China via AboMem’s extensive distribution network.

Tyfone’s patented SideTap microSD product can be added to mobile devices for enabling secure element functionality with NFC connectivity. SideTap is a unique feature of Tyfone’s groundbreaking u4ia® platform that provides end-to-end mobile financial services solutions from informational services and commerce to secure identity and contactless payments via NFC.

“A necessary element required for the success of add-on NFC and secure element capabilities is the ability to scale to meet demand,” said Nick Holland, senior analyst with the Yankee Group. “This announcement demonstrates that Tyfone will be equipped with the manufacturing capabilities that will be critical for matching incoming demand for NFC hardware as the floodgates are opened.”

“AboMem has partnered with Tyfone because of its commitment, innovation, superior technology and patent portfolio for enabling mobile commerce,” said Aaron Yang, chairman of AboMem. “AboMem has seen Tyfone evolve SideTap from the prototype phase into a market-ready solution, and is excited to take our relationship to the next level and look forward to achieving success in China and the rest of the world.”

This agreement leverages AboMem’s established manufacturing and distribution infrastructure with Tyfone’s design and manufacturing know-how to achieve wide-scale adoption of an add-on secure element solution.

“Tyfone’s partnership with AboMem in China enables Tyfone to scale its business with a recognized leader in manufacturing memory products, and unleash its established distribution supply chain,” said Prabhakar Tadepalli, Tyfone’s president of Asia Pacific and chief operating officer. “The support AboMem has provided Tyfone over the past several years for our vision for mobile commerce has been invaluable, and we look forward to our partnership and the opportunity to serve the world’s largest consumer market.”

Companies wishing to deploy SideTap microSD secure element solutions will be able to purchase directly from AboMem, a recognized manufacturer, while working with Tyfone on TSM software integration for identity provisioning and implementation of mobility services.

For more information on Tyfone’s SideTap microSD solution, please visit: www.tyfone.com/product-contactless-payment.

About Abomem
AboMem Technology Corporation specializes in designing, manufacturing and marketing portable memory products and various test devices of memory products. To provide users in suitable storage device, AboMem’s developed products include Linear Flash Card, SRAM Card, IDE Card, Multi Media Card, SD and MoBe USB Drive.

AboMem has the strongest capability in memory storage device to support both OEM and ODM style for customers. That is why internationally well-known customers seeking to create customer-designed products select AboMem. Since its establishment AboMem has been not only capable to supply specialized memory storage device compliance with customer’s requirement but also continuously enhance performance and innovation in quality, price and service to meet the world standard. For more information visit www.abomem.com.tw.

About Tyfone
 Founded in 2004, Tyfone’s corporate headquarters are in Portland, Oregon, and its Asia-Pacific headquarters are in Bangalore, India. Tyfone connects money and mobility via a highly secure, scalable and flexible mobile financial services solution tailored to meet the evolving needs of consumers, financial institutions, mobile network operators, transportation companies and retailers. Operating in any standard memory card slot, Tyfone’s u4ia® platform and its companion SideTap™ memory card comprise the world’s first patented, neutral, and comprehensive memory card-based payments solution for mobile contactless payments. Tyfone and its partners enable a suite of services including Mobile Banking, Mobile Identity Management, Mobile Remote Payments, Mobile Retail Services and Mobile Contactless Payments. For more information visit www.tyfone.com.

# # #

Contact Information
 Holly Woolard
Mobility Public Relations
+1-503-343-4144
Email: tyfone@mobilitypr.com
Tyfone Press Kit: http://tyfone.mobilitypr.com
Tyfone on Twitter: @Tyfone

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