Buongiorno has announced the official launch of Cashlog, an SMS-based mobile payment system for merchants and customers that uses just the customer’s mobile number to make the payment, with no need to disclose credit card, bank transfer or other personal details.Cashlog is already available with four operators in Italy, and is rolling out in major European countries throughout 2011.
To use Cashlog, you need a valid SIM card for one of the operators offering the service, and you need to be on a website supporting the payments service. Just click on the Cashlog button on the site, enter your mobile number and confirm the purchase. A few seconds later, you will receive a secure PIN code via a free SMS. Enter it online to complete the purchase.
Cashlog can be used for purchases of between €0.79 and €15, which Buongiornio says makes it ideal for merchants selling digital goods of low unit value such as virtual currency, news, eBooks and tickets.
“Entering the m-payments sector…represents a natural evolution of Buongiorno’s mobile business,” says Buongiorno’s head of new business, Matteo Montan. “Buongiorno has considerable experience in mobile transactions, and pay-for digital content is confirming itself as the fastest growing segment of e-commerce. With Cashlog we are targeting a potential audience of 4bn mobile users and thousands of merchants that are offering a wider range of digital content.”