BAM Checkout Simplifies Mobile Transactions

BAM checkoutOnline and mobile credentials management company Jumio has launched BAM Checkout, an integrated payment card and identification scanning technology for mobile retailers that enables users to bypass nearly all manual key entry when completing a mobile purchase.

Users looking to transact on mobile simply tap the ‘Scan info’ button embedded into the checkout page and successively hold their payment card and driving licence up to their smartphone camera. The scanning process is completed in a matter of seconds, and the extracted data auto-populates the existing checkout fields with the required information. To ensure security, no photos of credentials are taken or stored on the smartphone. Junio says the solution greatly improves the customer experience and increases transaction completion rates by more than 10 per cent.

BAM Checkout is available for apps running on iOS and Android and is flexibly integrated directly into a merchant’s current checkout process, requiring as little as one hour of developer time to embed in the merchant’s mobile app.

The solution can be used with Visa, MasterCard, Diners Club, American Express, JCB, Union Pay, and Discover cards. It supports full functionality for users in the UK and the US owing to the availability of address information on driving licences issued by authorities in those countries. In other locations, BAM Checkout can be implemented with payment card scanning only.

The launch of BAM Checkout – the name comes from the chemical BAM, a compound of Boron, Aluminium and Magnesium, which produces the least amount of sliding friction of any substance in the world – conincides with the release of Jumio’s 2014 Christmas peak season mobile shopping analysis, which projects up to £2.5bn in lost mobile commerce sales losses due to outdated mobile checkout processes.

“Shopping cart abandonment accounts for billions of pounds of lost revenue every year, and a major portion of those losses are entirely avoidable,” said Jumio founder and CEO, Daniel Mattes. “The increasing sophistication of our mobile devices, as well as rising consumer expectations of their mobile experience, have both leapt ahead of the still labour-intensive checkout experience. Our applied computer vision technology closes that gap.”