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Mocapay Inc. is testing a mobile loyalty and prepaid gift card platform that it intends to make widely available to small merchants in the first quarter of next year, the company’s president tells PaymentsSource.

Denver-based Mocapay is in discussions with five independent sales organizations and plans to choose two to begin marketing the product to merchants by the end of October, says Doug Dwyre, the company’s president.

The timing for the rollout seems right, according to analyst Todd Ablowitz, president of Centennial, Colo.-based Double Diamond Group LLC.

“Everyone is looking at how to use the mobile phone to advance their business,” Ablowitz tells PaymentsSource. “Every day we’re getting closer to having a world where we pay by phone. In fact, (many consumers) have used their phones to buy music, ringtones and apps.”

Payments Source, September 19, 2011