SHAZAM Offers Mobile Payments Using Adaptive Payments Pentagon Platform

Jan. 30, 2012

SHAZAM, a DesMoines, Iowa-based EFT network has made a new mobile POS payments application available to its nearly 1,500 community banking clients and their merchant customer base. The company said it has launched the Pentagon mobile payments platform from Ft. Lauderdale, Fla.-based Adaptive Payments that enables merchants to accept PIN debit, signature debit and credit card transactions using iPhone and Android mobile devices. For PIN debit transactions, the PIN is captured using the consumer’s own device in a second channel and is never stored virtually with the cardholder’s card data or personal information. “Payments are rapidly evolving from traditional card-present and card-not-present situations to more mobile and online environments,” said Mike Hollinger, president and CEO of SHAZAM. “Consumers expect to be able to shop any time and at any place. There is also an expectation to be able to shop safely and securely without fear of fraud or identity theft. Not only does Pentagon make payments more accessible to more consumers and merchants, but it does so without compromising on end-to-end security, providing peace of mind to all stakeholders.”