WorldNet Enables iPhone Card Acceptance

June 7, 2010 

WorldNet, a Dublin-based online and mobile payment services provider to Customer Not Present merchants, recently launched an “open card payment library” for the iPhone that enables developers to embed credit card payments into iPhone applications for the first time. To date, all payments from iPhone apps have been processed by Apple, which retains a significant chunk of the revenue. WorldNet’s iPay solution allows payments to be processed by a merchant’s existing acquirer, bypassing Apple’s payment infrastructure.   “The iPhone has the potential to be a game-changer in enabling m-commerce,” said John Clarke, WorldNet head of product innovation at a recent developer’s conference in Ireland. “Currently m-commerce on the iPhone is restricted to smaller ticket items, and digital goods, as the iPhone charging structure make it unattractive to e-commerce merchants. The release of iPay marks a major expansion of the potential reach of the iPhone, and a real step forward towards making m-commerce a reality.”