The revolutionary new iPhone payment technology, Mobio, has finally made its way to North America. Already widely used in Japan and Europe, the Vancouver-based tech company Mobio Identity Systems Inc. (not to be confused with the defunct Mobio Networks of a few years ago) has developed a barcode payment system for the iPhone, effectively eliminating the need to carry credit cards. After a straightforward 5 minute installation and setup, simply point your phone at any Mobio barcode, scan, and pay. It’s just that easy.
The advantage to a system like this is primarily increased consumer security. The merchant never handles your credit card, your personal information remains safe and secure, and you retain your peace of mind amidst daily reports of widespread credit card and debit fraud. Mobio Identity Systems uses advanced cryptographical technology that develops single use codes, unique to that particular transaction that remain valid for only a short period of time.
If, by chance, the code is stolen or hacked, it will be useless to the thief, since it cannot be used again or tracked back to you. As Mobio Identity systems claim, there is “No possibility of fraud or misuse”… for now.
The system is further insulated from theft or fraud by requiring a PIN code to be entered before the Mobio barcode scanner can be activated. Users should be aware, however, that Mobio Identity Systems does not keep a record of your PIN anywhere on file. Instead, your PIN is incorporated into the complex cryptography algorithm. This means that if you lose your number there is no additional record of it, and you will no longer be able to generate codes or use the barcode app, rendering it useless.
The true genius behind this technology, in my opinion, is not just what Mobio technology can do for you, but what you can do with Mobio technology to help others. In response to the recent disaster in Haiti, Mobio Identity Systems has partnered with Habitat for Humanity as a way of not only generating awareness for Mobio technology, but providing a simple, easy, and effective way for people to contribute to the ongoing relief work in the ravaged Caribbean country. Recently, Mobio Systems completed the world’s first Mobio telethon, raising money exclusively for Haiti by encouraging iPhone users in Western Canada to scan a barcode posted on TV, allowing them to contribute to this worthy cause.
If you have the Mobio app on your iPhone, simply point it at the Habitat for Humanity barcode at the top of this post and instantly you will have done something to help relieve the pain and suffering of people around the world. It may not be saving the world, but it’s a step in the right direction.