Provider of identity management services Identita teams with ChargeAnywhere, a provider of mobile payment software, POS applications and e-payments services, to launch the IDPay mobile POS. IDPay is an One Time Password (OTP)-card based mobile POS which integrates Identita’s EchoSystem platform with ChargeAnywhere’s mobile payments technology.

IDpay enables businesses and customers to conduct private and personalized transactions anytime, anywhere through their mobile phones and wireless devices. IDPay delivers two-factor and three-factor mobile security demanded by today’s banking and financial community. The IDPay platform allows for a variety of mobile enablement applications such as stored value, P2P, loyalty & rewards programs, m-commerce, coupons and rebates, bill payment, remittances and NFC.

A typical transaction requires the buyer to swipe their powered card through the merchant’s POS terminal. IDPay alerts the buyer through their mobile handset of the seller’s authorization request for the purchased item and the amount. The buyer authorizes the purchase and then has to use the powered payment card to finalize the transaction. For non-merchant based P2P transactions, the entire payment is done from the seller and buyer’s mobile handsets. To transfer money, the user inserts their mobile phone number and the amount to transfer, and then verifies their identity using their powered payment card.