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Altamedius develops pre-paid m-commerce 
Monday, December 10 2001
by Matthew Clark


Altamedius, formerly known as Artic Web, has signed a deal with Eircell Vodafone,
for the provision of micro payment services. 

The companies said that over the next 12 months they would work together to
develop a range of micro payment services that will be launched to Eircell's 1.6
million customers by mid 2002. Already Altamedius has developed its own modular
payment intermediation platform that it will use to deploy the new services. 



The micro payment services that will be offered by Eircell Vodafone will
facilitate the purchase of small value goods and services by customers through
the Internet, via Web, WAP, IVR (interactive voice response) and vending
machines. The company said that all transactions will be carried out in a secure
environment and will allow users to purchase items such as cinema and concert
tickets, CDs, books, games and ringtones without the need for a credit or debit
card. 



Although the companies would not comment on the details of the system, it is
understood that it will let users make purchases via a mobile account. Such an
account could be topped up with cash, through a pre-paid system similar to that
used for pre-paid mobile phones. The account could also be topped up using a
credit card or bank account. 



A system such as this could be incredibly popular for teenagers and young adults
who make up a large portion of the mobile phone using population and who are
generally more comfortable with electronic transactions. Jonathan Byrne, head of
e-commerce, Eircell Vodafone said that the company expects this service to be of
particular appeal for customers aged between 16 and 24. 



Altamedius, along with Eircell, are looking to tap into an overall market that
experts claim will boom over the next five years. A report from the Yankee Group
says that premium services delivered over a mobile phone, such as games and ring
tones, will enjoy a bright future in Europe. 



In its report the US-based research company said that of the three m-commerce
categories (premium content, remote payment, and local point-of-sale
applications), premium content represents by far the "largest and most
immediate" revenue opportunity. The company said that premium content will
generate over 75 percent of all m-commerce transaction revenues by 2006, a market
estimated to be worth USD40 billion in Western Europe alone. 



McDonnell also said that the company was looking to announce a number of deals in
the upcoming months with other mobile operators and said that in the first half
of 2002, the firm hoped to announce a significant deal with a major bank for its
mobile payments technology. 



In January of this year, Altamedius (then know as Artic Web) raised USD3 million
in funding from Delta Partners and Vertex Management. At that time the company
said it would look to raise more funding by the end of 2001. McDonnell said that
the company was now considering the possibility of a second round of funding in
the coming weeks but said it was not a major concern. He said that it would
address the issue more seriously in the spring of 2002, if it decided new funds
were necessary at that time. 



The company currently employs 30 and can befound on line at HREF="http://www.altamedius.com">http://www.altamedius.com. 

 has sent the following story to you from ElectricNews.net.

The story is available from https://electricnews.net/news.html?code=5080626

Altamedius develops pre-paid m-commerce 
Monday, December 10 2001
by Matthew Clark


Altamedius, formerly known as Artic Web, has signed a deal with Eircell Vodafone,
for the provision of micro payment services. 

The companies said that over the next 12 months they would work together to
develop a range of micro payment services that will be launched to Eircell's 1.6
million customers by mid 2002. Already Altamedius has developed its own modular
payment intermediation platform that it will use to deploy the new services. 



The micro payment services that will be offered by Eircell Vodafone will
facilitate the purchase of small value goods and services by customers through
the Internet, via Web, WAP, IVR (interactive voice response) and vending
machines. The company said that all transactions will be carried out in a secure
environment and will allow users to purchase items such as cinema and concert
tickets, CDs, books, games and ringtones without the need for a credit or debit
card. 



Although the companies would not comment on the details of the system, it is
understood that it will let users make purchases via a mobile account. Such an
account could be topped up with cash, through a pre-paid system similar to that
used for pre-paid mobile phones. The account could also be topped up using a
credit card or bank account. 



A system such as this could be incredibly popular for teenagers and young adults
who make up a large portion of the mobile phone using population and who are
generally more comfortable with electronic transactions. Jonathan Byrne, head of
e-commerce, Eircell Vodafone said that the company expects this service to be of
particular appeal for customers aged between 16 and 24. 



Altamedius, along with Eircell, are looking to tap into an overall market that
experts claim will boom over the next five years. A report from the Yankee Group
says that premium services delivered over a mobile phone, such as games and ring
tones, will enjoy a bright future in Europe. 



In its report the US-based research company said that of the three m-commerce
categories (premium content, remote payment, and local point-of-sale
applications), premium content represents by far the "largest and most
immediate" revenue opportunity. The company said that premium content will
generate over 75 percent of all m-commerce transaction revenues by 2006, a market
estimated to be worth USD40 billion in Western Europe alone. 



McDonnell also said that the company was looking to announce a number of deals in
the upcoming months with other mobile operators and said that in the first half
of 2002, the firm hoped to announce a significant deal with a major bank for its
mobile payments technology. 



In January of this year, Altamedius (then know as Artic Web) raised USD3 million
in funding from Delta Partners and Vertex Management. At that time the company
said it would look to raise more funding by the end of 2001. McDonnell said that
the company was now considering the possibility of a second round of funding in
the coming weeks but said it was not a major concern. He said that it would
address the issue more seriously in the spring of 2002, if it decided new funds
were necessary at that time. 



The company currently employs 30 and can befound on line at HREF="http://www.altamedius.com">http://www.altamedius.com.