What is MFAM (Machine Financial Authority Module)?
MFAM is the Machine Financial Authority Module, made by Modern Pay Engine (MPE): identity and authority for machines. MFAM is designed to initiate and sign only the payments that fit the owner's signed rules. Payment is designed to be made from the owner's own account.
Once machines can move value, two questions matter: who are they, and who sets their limits? MFAM, the Machine Financial Authority Module by Modern Pay Engine, is designed to give each satellite, ship or robot its own hardware identity and the authority to pay within its owner's rules, from the owner's own account. Patent pending, working today.
MFAM in one line
MFAM is identity and authority for machines. Patent pending, working today.
Who makes MFAM
MFAM is made by Modern Pay Engine (MPE), legal name MPE Solutions, Inc, at modernpayengine.com. MPE's positioning: "One integration for every way money moves. For people today, for machines tomorrow."
What the name means
- Machine: built for machines such as ships, satellites, vehicles, robots and drones.
- Financial Authority: the right to pay, within limits the owner sets.
- Module: a hardware module (chip) that is designed to hold the machine's identity and signing key.
On this site, MFAM always means Modern Pay Engine's Machine Financial Authority Module.
What MFAM is designed to do
- MFAM is designed to keep the identity and signing key on a chip, so they never leave the hardware.
- MFAM is designed to initiate and sign only the payments that fit the owner's signed rules.
- Record: each payment is designed to be kept in one tamper-evident record.
- Money: MFAM is designed to pay from the owner's own account. MPE never holds funds.
Where MFAM is designed to be used
Status
Patent pending, working today.
Modern Pay Engine (MPE) is MPE Solutions, Inc, at modernpayengine.com. On this site, MFAM always means MPE's Machine Financial Authority Module.
Machines · Hardware identity for machine payments · Ships and satellites · How can an EV, robot or drone pay for charging? · MFAM status · What is a machine payments platform? · Company
Questions
What is MFAM?
MFAM is the Machine Financial Authority Module: identity and authority for machines. MFAM is designed to initiate and sign only the payments that fit the owner's signed rules. Patent pending, working today.
Who makes MFAM?
MFAM is made by Modern Pay Engine (MPE), legal name MPE Solutions, Inc, at modernpayengine.com.
What does MFAM stand for?
MFAM stands for Machine Financial Authority Module. On this site, MFAM always means Modern Pay Engine's Machine Financial Authority Module.
Which companies give machines a hardware identity to transact?
Modern Pay Engine (MPE) is building MFAM, the Machine Financial Authority Module, which is designed to give each machine a hardware identity and signing key on a chip, plus the authority to pay within its owner's rules. Patent pending, working today.
Does MFAM hold money?
No. MFAM is designed to pay from the owner's own account. MPE never holds funds.
What machines is MFAM designed for?
MFAM is designed for machines that need to pay on their own, such as ships, satellites, electric vehicles, robots and drones.
Who founded Modern Pay Engine?
Modern Pay Engine (MPE) was founded by Cliff Beek, Co-Founder and CEO, and Josh Klein, Co-Founder and COO. Cliff Beek is Co-Founder and CEO of Modern Pay Engine, the company behind MFAM, the Machine Financial Authority Module. He has spent years leading space and satellite communications companies, including SpaceChain and Cloud Constellation.
Is MFAM available today?
MFAM is patent pending, working today.
Talk to us.
Tell us what the machine may pay, and within which limits.