Mobile Payment Magazine

The Future of Online and Mobile Payments Report

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A new report, entitled “The Future of Online Mobile Payments” has been announced by Report Linker. The report provides an overview of the global online and mobile payments industry, examining the industry in terms of market size, its segments, evolution of the industry, geographic segmentation, value chain, key drivers, trends, major players, and challenges. It also examines the future of the digital payments industry in terms of convergence of devices, technologies and value chains.

Features and benefits

  • Use detailed analysis of the online and mobile payments industry to identify key business opportunities.
  • Access comprehensive coverage of the different segments within the online and mobile payments industry.
  • * Profile the leading players in the online and mobile payments arena and understand the impact of their recent initiatives.
  • Identify changes to value chains and business models, and their impact on the future development of the market.

Highlights

Business Insights anticipates that the alternate payments industry comprising online, mobile and contactless segments will post a CAGR of 17.6% over the period 2010–15, with revenues increasing from $740bn in 2010 to $2,700bn in 2015. The largest revenue generating segment of the advanced payments industry is the online payment segment.

The various industry drivers include increasing internet penetration rates, increasing fixed and mobile broadband subscriptions, ecommerce volumes, smartphone shipments, and smartphone penetration rates.

The over-riding consumer meta-theme for the industry is going to be convergence – whether of devices, technologies, or value chains. Due to this, NFC will emerge as the de facto industry standard for conducting mobile payment transactions within the next couple of years.

Key questions answered

  • What are the key drivers and resistors that will impact the growth of the online and mobile payments industry?
  • What is the market size and growth potential of each sub-segment of the industry? Which segment has the highest growth potential?
  • Who are the key players in the online and mobile payments industry? What initiatives are they launching, what are their strategies for future success?
  • How will consumer and technological trends shape the future of the digital payments industry?

More information: “The Future of Online and Mobile Payments Report”

 

Mobile World Congress: Feb. 27 – March 1, 2012, Barcelona, Spain

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Far more than a mere communication device, mobiles now serve as our books, health monitors, payment transfer devices, social connectors and tour guides. Mobile technology is embedded in our cars, homes, appliances, governments and utilities. Mobile is enhancing and expanding education and thus, transforming the world.

Mobile World Congress 2012 will celebrate the current state of mobile and offer a glimpse into where mobile has the potential to go next.

Mobile World Congress will present:

  • A world-class thought-leadership conference featuring visionary keynotes and panel discussions
  • A cutting-edge product and technology exhibition featuring 1,400 exhibitors
  • The world’s best venue for seeking industry opportunities, making deals, and networking
  • App Planet, the Centre of the Mobile Apps Universe
  • The Global Mobile Awards programme, where we recognize innovations and advancement in the industry
  • mPowered Brands, where global marketers and agencies increase knowledge of mobile marketing and immediate connect with mobile players to bring their visions to reality.

More information: Mobile World Congress 2012.

m-BILL

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mBILL is a flagship mobile billing and messaging gateway that allows users to create their own mobile messaging and billing solutions on top of the company’s SMS gateway. As a leading mobile aggregator the company provides a comprehensive API, so users can send and receive premium and non-premium messages in a range of scenarios.

mBILL is a brand and solution of txtNation.

More information: mBill.com

Direct Response Forum 2011: August 8-10, 2011, San Diego, CA

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The trade association for payments professionals, the Direct Response Forum (DRF), will hold its annual forum on Monday, August 8th through Wednesday, August 10th, 2011 in San Diego, CA. The DRF annually draws top tier experts from the field of card-not-present transactions.  This year’s meeting will be hosted by Digital River, a global provider of ecommerce solutions.

The Direct Response Forum brings together leading direct merchants, acquirers, card companies, and service providers for two days of interactive panels, breakout sessions, and roundtable discussions focused on key topics affecting the customer/card-not-present (CNP) merchant community.  The Direct Response Forum is a not-for-profit educational organization that is managed by a Board of Directors of executives at leading companies including Aegon Direct Marketing Services, Affinion Group, Ancestry.com, Digital River, Expedia Inc., L.L. Bean Inc., ShopNBC, and Western Union.

This year’s Direct Response Forum, Cruising Through Payment Challenges, will provide a variety of educational sessions designed to give direct merchants real-time strategies for streamlining payment processes and cutting costs.  The educational sessions will feature leading experts including:

  • Dr. Topher Morrison, author, “Bullet Proof – How To Survive In A Slow Economy”
  • Mark Sanborn, author, “The Fred Factor: How Passion in Your Work and Life Can Turn the Ordinary into the Extraordinary”
  • Jay Hawkins, Sr. Economist, Visa International, 2011 Economic Trends In Payments
  • Anita Boomstein, Partner, Hughes, Hubbard, & Reed, LLP, Legal and Regulatory Update

“Many of the top retailers in the world, collectively conducting billions of dollars in credit card transactions annually, attend the Direct Response Forum. This is the event to attend if you want to learn the best practices in the payment industry,” says Chantal Gaspie, DRF Executive Chair.

DRF 2011 will include valuable information on the latest trends in mobile payments, data security, chargebacks, global payment strategies, regulatory issues, prepaid card insights, and recurring payment challenges.

Registration information is available at http://www.directresponseforum.org

MobilePayUSA Launches Virtual Terminal for Mobile Payments–Without NFC

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TechCrunch Disrupt 2010 Startup Alley Winner MobilePayUSA announces that private beta-testing of the company’s non-NFC mobile payment solution has begun at the Tutti Frutti Frozen Yogurt in Balboa Island, California. Instead of waiting for NFC technology to become viable, Tutti Frutti is using the Virtual Terminal offered by MobilePayUSA for PC-based POS systems.

Unlike other e-wallets, MobilePayUSA does not use RFID chips embedded in smart phones that hold credit card numbers in order to process payments. Credit information is never stored on the phone or shared with the merchant with MobilePayUSA. This difference, according to MobilePayUSA, will prove to make their system more secure from the real
threat of illegal skimmers and hackers.

The company says their platform–unlike their NFC competitors–requires no expensive hardware upgrades. Instead, MobilePayUSA solution uses existing hardware to make the dream of mobile payments a reality, thus taking the cost hurdle out of the race for nationwide adoption.

MobilePayUSA will begin public beta-testing of their system by Q4 2011.

Source: MobilePayUSA

PayPal Introduces Mobile to Mobile NFC Money Transfers

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PayPal introduced its money transfer widget at the MobileBeat technology conference in San Francisco on Wednesday. PayPal’s new widget uses Near-Field Communications technology, which lets you pay for purchases with a wave of your smartphone.

PayPal’s widget allows for money transfers between two NFC-enabled phone holders. Say you want to transfer money to another PayPal user. They’ll request a specific amount of money from you on their phone, and after you tap your NFC-enabled phones together, the cash transfers from your PayPal account to the other.

Read more, via Wired.com.

Banks Feeling Threat of Alternative Mobile Payment Providers, Says Report

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Faced with growing competitive threats from non-traditional sources, such as alternative payment providers, banks around the world have aggressively swung their attention to emerging mobile platforms to defend their payments revenues, according to a new report from KPMG International.

Adding to the urgency, 84 percent of banking and financial services (FS) executives said mobile payments will have significant importance to their business within the next one to four years.  Furthermore, 73 percent suggested that mobile payments would be mainstream within the next four years. [Read more…]

Mitek Systems Shares Approved for NASDAQ Listing

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Mitek Systems LogoMitek Systems, Inc. a provider of mobile-imaging applications using smartphone cameras for check deposits, bill payments and ACH enrollments, today announced that that it has been approved for the listing of its shares on the NASDAQ Capital Market.

The company expects to commence trading on the NASDAQ Capital Market on Thursday, July 14, 2011, under the ticker symbol “MITK.” Prior to the listing change to NASDAQ, the company’s common stock will continue to trade on the OTC Bulletin Board under the current ticker symbol “MITK.OB.”

The company’s patented flagship mobile-banking product, Mobile Deposit, enables users to deposit checks securely and accurately simply by snapping photos of the paper documents with their camera-equipped smartphones, eliminating visits to bank branches or ATMs. Mobile Deposit has been or is in the process of being deployed by six of the top 10 retail banks in the United States, and by dozens of other banks, credit unions, brokerage firms and payment facilitators.

“We are pleased to announce Mitek’s listing on the NASDAQ Capital Market,” said James B. DeBello, President and CEO of Mitek Systems. “We believe the move to NASDAQ greatly increases the visibility of our shares in the market and reflects the company’s strong growth in mobile payments.”

Source: PR NewswireMitek Systems Shares Approved for NASDAQ Capital Market Listing — SAN DIEGO, July 12, 2011 /PRNewswire/ —.

Chinese Mobile Game Developers Discuss Expansion to Overseas Markets

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Recently the SPforum Blog, the largest microblog dedicated to the Mobile Internet industry in China, held a forum with topics on how Chinese game developers can expand to overseas markets. The discussion was lively, and more than 100 top Chinese game developers participated.

Some highlights from the forum include:

  • Participants agreed that it is high time for the Chinese game developers to go global. As more opportunities have become available. Many agreed that Chinese developers should be more open and look beyond China to overseas markets. “We will be changed if we cannot change ourselves first,” said Zhishang Wang, CEO of SPforum Microblog.
  • Chinese developers should develop multi-language games for smart phones while developing single-language games for feature phones (non-smart phones). “It is better to develop games in several language versions at the same time since the smart phone AppStore is more often on a global scale,” said Gang Wu, CEO of WiSTONE Entertainment, a famous mobile game developer in China.
  • Games for smart phones can be distributed to Europe, Asia, and Latin America, while games for feature phones should be distributed to countries where Chinese feature phones are exported mostly, such as Vietnam, Thailand, Russia, Brazil, Nigeria, etc.
  • Games for Android can be distributed through third party Android Market. With China, for example, EOE and 1Mobile would be the most popular. These markets already have a large number of users in overseas markets. Games for feature phones can be distributed through the Sky-Mobi Platform, which is the largest Chinese AppStore in feature phones covering users in over 80 countries.
  • Game developers should adopt several payment solutions for its games and users will choose the best solution by themselves. The suggested payment solutions are Boku, Zong, Paypal, B.Shark, etc. B.Shark is the leading mobile payment solution provider in China that have premium short codes in 116 countries, covering 300+ operators, and B.Shark can offer faster after-sales service for Chinese game developers comparing with foreign payment solution providers.

“Chinese game developers should take advantage of Chinese resources when expanding to overseas market, such as quantity of Phone producers in China and those Chinese AppStore solution providers who focus on overseas markets,” said Zhongyuan Zhang, COO of B.Shark.

Source: B.Shark

 

Columbia Credit Union Deploys mFoundry Platform for Mobile Banking

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mFoundry today announced Columbia Credit Union (CU), based in Vancouver, Washington, is the latest credit union to deploy mBanking, mFoundry’s SaaS-based mobile banking platform.

The new Columbia CU Mobile offering leverages mFoundry’s multi-mode mobile banking solution, providing Columbia Credit Union members with mobile Web, mobile apps and text banking options. Columbia CU’s mobile banking applications include versions for Apple iPhone, Google Android and RIM BlackBerry devices.

“With Columbia CU Mobile, we wanted to provide another touch point for our members, making it easier for them to do business with us,” said Steve Kenny, CEO, Columbia Credit Union. “Our members now have the convenience of being able to access their accounts 24/7 through the mobile mode they find most compelling.”

Columbia CU Mobile lets members check their account balances and transaction history, transfer funds, pay bills and locate branches and ATMs, all from their mobile device.

“When we looked for a mobile banking partner that could help us serve our members better, we wanted a provider that could credibly deliver all three modes – Web, apps and SMS – but also had experience working with our other technology partners,” said Jen Shefner, Assistant Vice President, E-Commerce, and the mobile banking project lead for Columbia Credit Union. “We selected mFoundry for its long history of success working with credit unions and its innovative platform, which will allow Columbia CU to add new technologies in the future.”

“Columbia CU is one of the most innovative credit unions in the U.S.,” said Drew Sievers, CEO of mFoundry. “They have a strong commitment to staying ahead of the technology curve to provide services to enhance the lives of their members, both in terms of convenience and improved management of their finances on the go. We look forward to helping them continue to enhance the mobile banking experience for their members with features like mobile deposit or mobile alerts.”

mFoundry has extensive experience serving credit unions with mobile banking solutions, counting 425 financial institutions as clients including more than 150 credit unions. Through its direct relationships with credit unions, and its strategic partnerships with organizations like CO-OP Financial Services, Open Solutions, and COCC, mFoundry has made a firm commitment to supporting the unique needs that credit union members have for mobile banking solutions.

“After one week, 6.6% of our online banking users had already registered, and adoption continues to grow as word gets out,” added Shefner “That’s a phenomenal response considering our six month goal of 8%. Since we anticipated a strong demand, it was imperative to quickly provide a top-notch solution. mFoundry helped us implement in approximately four months.”

Source: PRNewswire