Silicon Valley mobile payment startup TapBase announced the release of TapPay and TapWallet mobile applications for the iPhone. The apps are part of the company's Tap mobile payments, loyalty and rewards platform.

The TapPay app lets merchants create mobile shopping carts and accept credit and debit cards on their mobile devices. It also has the added feature that it can send those shopping carts to a customer's mobile device so the purchase can be completed on the customer's phone. Other features include an integrated barcode scanner and the ability to create and manage a mobile database of products and services.

The TapWallet application for consumers securely stores and carries payment, loyalty and membership card data. When a bill arrives from a merchant using the TapPay application, the customer can choose a payment card, apply any loyalty rewards or applicable discounts, "sign" the transaction on the phone and authorize the payment. The merchant then receive notification that the payment has been made.

"Although there are a number of mobile payment solutions now available in the marketplace, our system mitigates some of the risks inherent in performing payment transactions away from the traditional bricks-and-mortar retail store," said TapBase CEO Robert Mallett. "For example, a customer can request a bill be sent to their own device; the customer can then complete the transaction without having to directly share sensitive credit card data with the merchant."

TapBase said it plans to offer Android versions of its apps along with additional features for its platform later this year. New components will include the ability for merchants to issue virtual pre-paid and gift cards using QR codes and NFC technology. TapPoints, a rewards and loyalty feature, is also in the works.

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