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Mobile Payment Skins to open

Renaissance | Farragut soon will be the headquarters of a company on the cutting-edge of mobile payment technology.

Mobile payment technology, or more popularly known as “wave and pay” or “touch and go” payments, are predicted to replace the standard swipe types of debit cards.

“We basically provide customized vinyl skins for mobile phones,” Doug Yeager, owner of Mobile Payment Skins, said.

Mobile Payment Skins sells two types of mobile phone “skins.”

Some of the skins, mSkinz, are available for retail purchase and have customizable covers. Mobile Payment Skins also makes iPod and laptop decorative skins.

But Yeager also makes mobile payment skins, which include a microchip that allows a mobile phone to act as a “touch and go” form of payment.

“mSkinz doesn’t have any payment technology imbedded in the skin itself; it’s just decorative phone skins that we provide.

“Mobile payment skins works with banks to provide a phone skin that has a payment chip in it,” Yeager said.

Mobile payment skins are used in partnerships with banks and are not sold to individual customers.

“Essentially, there’s a chip imbedded in the phone skin so that when you present it at the point of sale terminal, it’ll take the transaction that way, instead of swiping a plastic card.

“It’s a new way to pay that’s coming out in certain regions across the country,” Yeager said.

“So you can wave your phone instead of having a wallet or a credit card. ... It’s like an interactive phone payment service. They’re building the whole new payment scheme around the mobile phone rather than the wallet,” he added.

The closest participating bank in Tennessee is just north of Nashville.

“What they do is, once you wave your phone, they send you a text message that says, ‘You just bought such and such from Best Buy and your balance is whatever,’” Yeager said.

Mobile Payment Skins is relocating to Renaissance from another Knoxville location off Jackson Oaks Way.

“We’ve accumulated some equipment that doesn’t fit here so we’re moving to that Renaissance location next to State Farm,” Yeager said.

Two Mobile Payment Skin employees will be located in Renaissance and another employee will be stationed in Nashville.

“We’re pretty excited about going over there,” Yeager said.

Yeager said Mobile Payment Skins should open in Renaissance within the next two months.

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