How they describe themselves: MShift has developed mobile wallet and mobile payments capabilities as a natural evolution from mobile banking. Since 1999, MShift has been providing cutting edge Mobile Banking solutions for Mobile Web/Browser, downloadable Mobile Apps, and SMS/Text platforms. MShift’s mobile platform supports all combinations of Online Banking, MFA, Bill Pay, P2P Payments, Mobile Deposit, as well as other third-party services.
How they describe their product/innovation: At FinovateFall 2012, MShift presents AnyWhereMobile: a new payment network enabling Community Banks and Credit Unions to become the issuers of mobile wallets, and receive revenues from mobile payments. The AnyWhereMobile payment network will multiply the net Interchange income of both debit and credit transactions for Financial Institutions, simultaneously slashing Interchange fees for merchants by more than half. The technology behind the AnyWhereMobile initiative eliminates the majority of fraud losses for both issuers and merchants, and empowers merchants to generate additional rewards and discounts for consumers.