CelCompra’s technology is designed to work with any mobile phone technology to make or receive payments.   Once the phone number and user are identified, the money is transferred into the assigned bank accounts.

CelCompra is designed for DTMF PIN passwords or biometric voice identification to access the accounts from mobile phones.  For someone to access an account, they have to use the registered phone number and know the PIN number or speak certain keywords (voice recognition).  The voices must be the same for an account to be accessed.

The phones do not need a special chip to work.  There is no personal or financial information stored in the mobile phone.  If the phone is lost, it is very hard for people to steal money from the account, as they would need to know your PIN password or have the same voice.  Once the phone is reported lost, no transactions can be made.

There are virtually no delays for a transaction once it is approved by both parties by phone.

CelCompra’s Mobile Payment Platform is designed to work with the credit institution’s ERP, CRM and security systems.  CelCompra’s hardware/software can be installed within the bank’s system.  We can become an extension of the systems and can work with any business rules that exist to approve or deny transactions.  For example, if there is a limit of 200Yuan per transaction set by the client or bank, we can limit all transactions to 200Yuan.  Or if the phone is reported lost, the transaction will not be approved.

For enterprises with POS systems, the technology can be integrated to the POS or cash registers for voice verification.  For stores that do not use POS systems, stores can use a phone to call and get the approval.  By adding a new method of payment, it will increase the revenue and sales of the stores.

Most people already carry their mobiles with them.  CelCompra avoids the need to carry cash in small quantities that is cumbersome.  It also avoids the need to carry large sums of cash or credit cards that can be stolen.

To pay for many subscribed services, customers can do it from their home with their mobile phone.  It is not necessary to line up in the bank or payment office.

CelCompra is also designed to purchase goods without the phone user to be present.  For example, your son goes to the store to buy the groceries.  At the check-out line, your son can ask the cashier to use CelCompra and dial your phone number to pay.  When you recceive call and approve the transaction, the check-out process is completed.

Online and web merchants can also integrate this technology easily.  Once a person decides to purchase with CelCompra, the website automatically calls the buyer to approve the transaction.  Once it is approved, CelCompra will debit the buyers account and credit the merchant’s account automatically.