Rubean’s new Mobile Commerce payment solution “RubeanPay” takes the form of a smartphone “app” which can transform a smartphone into a mobile card payment POS terminal. This will enable mobile & web-shoppers to make card purchases, remotely, using their payment card in exactly the same way as they would in-store (only using their smartphone in place of a Chip/PIN POS card terminal).

The Near-Field-Communication (NFC) technology on “Chip & PIN” payment cards and on smartphones ensures these devices can communicate. In the first release, RubeanPay is compatible with most Samsung phones. Other manufacturers will follow.

RubeanPay is available as a white-labelled “plug-in” function to extend the functionality of existing, established, payment schemes. Once downloaded, the app will enable a smartphone to emulate a card payment terminal and connect securely to the Payment Service Provider.

Significantly (in banking jargon) RubeanPay closely resembles a “card-present payment” in a typically “card-not-present” (online) environment. This is inherently more secure than current CNP transactions, compliant to PSD2 standards, extremely user-friendly and lower risk to all parties in the payment chain.

The app download is simple, intuitive and free of charge for the customer – who only needs to initiate the installation (No personal data needs to be provided, all required data is taken from the payment card).

Using the app couldn’t be easier, either : (for users with the app) RubeanPay is automatically detected and invoked from within the established payment scheme. The payment amount is displayed to the customer who authorises the transaction using fingerprint biometrics on the “home” key, then holds their payment card to the back of the phone. The remaining payment process runs automatically.

Only three simple steps ...

Customer shops in the internet with their phone and selects an established payment method.

(On request) Customer presses finger to the “home” button fingerprint sensor. (In case of biometric rejection Customer will be able to enter the Card’s PIN)

And then holds the card to the back of the phone. The remaining payment process runs automatically, according to in-store “card-present” payment schemes


RubeanPay delivers a package of unique benefits to all parties within the card processing chain:


For the PSPs and Merchants –

  • Unique – in that it requires the card, the mobile device AND the customer ALL to be present throughout the transaction
  • Low risk – this is, effectively, a CP transaction in a CNP scenario. As such it carries much less fraud risk and therefore, potentially, lower acquiring fees for the retailer / merchant
  • Improved Margins – Risk = cost. As risk is reduced there is potential for transactional cost savings which could be split between PSP and merchant without impacting price to customer.


For the Customer –

  • Customer-centric - Providing on-line and mobile customers with another safe and convenient means of payment
  • Cyber-Safe – Customers are NOT forced to store financial details on their phone: Cyber-security “best practice” tells us to minimise the amount of sensitive information we (i) keep on our devices or (ii) store on Retailers’ / Suppliers’ files. We have observed increasing customer demand for this approach
  • Trusted & Familiar – Some customers still feel more comfortable making a physical action to instigate / confirm a transaction. They also take reassurance from knowing that, if they lost their phone (for example), they wouldn’t also lose sensitive financial information which could be used by criminals. [Note : it matters not that their card details would actually remain safe in this scenario, it is the users’ perception that counts]


For Technology providers –

  • Complementary to Card Tokenization schemes - We do not set-out to replace any existing payment modality, merely to support customer choice. RubeanPay would complement the existing functionality and modus operandi of existing mPOS schemes : The additional option to use a physical card instead of a tokenized card is something that would be welcomed by many online customers
  • PSD2 compliant – RubeanPay meets the PSD2 requirement on two factor authentication in a very user friendly way
  • Higher transaction limits – We understand this functionality would enable the app to be used for higher value purchases than currently apply to (contactless) card tokenization apps
  • Bank independent / agnostic – RubeanPay works as a “personal” POS terminal, capable of “physically” accepting any brand of credit / debit card. This means PSPs would not be dependent on agreement with independent Banks, as is the case for card tokenization.

Comparison: RubeanPay and RubeanSign

RubeanPay and RubeanSign BOTH digitally sign mobile transactions on the user’s NFC bank card. BOTH are highly secure and convenient in their modus operandi but they differ in the way they handle the PIN that triggers the signature on card….

  • RubeanPay works (in contrary to HCE approaches) independently of agreements with card issuers but utilizes certain security measures within the phone, such as an embedded Secure Element to store the PIN securely and to unlock it with a finger print
    • RubeanPay could be seamlessly integrated (as OEM technology) within a phone specific payment solution, thereby adding the capability to handle a physical card as well as a tokenized card.
  • RubeanSign works on any Android phone but requires the issuing banks to provide the card PIN securely from the backend. This means the solution is NOT subject to (or dependent on) upgrade paths of phone manufacturers – it remains fully within the control of the Banks
    • RubeanSign could be seamlessly integrated (as OEM technology) within a mobile banking app or money transfer mobile payments app.

Both solutions combine to support a variety of operational scenarios where NFC cards (debit and credit) can be used to sign mobile transactions.

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