Mobile Payment Magazine

Retailers See Huge Opportunities in Mobile

by

With the explosion in consumer usage of smartphones, retailers are moving forward their mobile sales and marketing plans.

According to a recent Forrester Research study, nearly three-quarters (74%) of online retailers either already have or are developing a mobile strategy. One in five boasts having a fully-implemented mobile strategy in place already. The survey of 109 companies is part of “The State of Retailing Online” research series, which provides eBusiness professionals with an annual industry benchmark for marketing and business investment and activities. [Read more…]

Nokia Siemens Networks

by

Nokia Siemens Networks is a leading global enabler of telecommunications services. With its focus on innovation and sustainability, the company provides a complete portfolio of mobile, fixed and converged network technology, as well as professional services, consultancy and systems integration, deployment, maintenance and managed services. It is one of the largest telecommunications hardware, software and professional services companies in the world. Operating in 150 countries, its headquarters are in Espoo, Finland.

Global Mobile Payment Market to Reach US$264.8 Billion by 2015

by

Mobile payment market gained momentum in the recent years owing to introduction of efficient mobile money transfer services across several markets. Further, the widespread adoption of mobile payments in majority of the markets, especially in Asia-Pacific, and participation of global institutions in NFC (near-field communication) payment trials led to the growth of the market. Given the fact that approximately four billion mobile phone users exist across the globe with numbers increasing at a faster pace, and the figure of bank accounts is approximately pegged at about 1.6 billion, mobile payment attracts huge growth potential.

Asia-Pacific represents the largest market as stated by the new market research report on Mobile Payment (Mobile Money) Market. Rest of world comprising Latin America, the Middle East and Africa represents the fastest growing market for mobile payment (mobile money) in the world. By mobile technology type, SMS Mobile Payment segment predominates the worldwide mobile payment market, while the Near Field Communications (NFC) represents the fastest growing technology type for mobile payment.

Major players profiled in the report include Ericsson, Firethorn Holdings LLC, Harex Infotech Inc., International Business Machines Corporation, mBlox Inc., mFoundry Inc., Mobipay Systems Inc., Netsize Corporate, Nokia Corporation, NTT DOCOMO Inc., Obopay Inc., Paybox Services, Sybase Inc., Verrus Mobile Technologies Inc., and ViVOtech Inc, among others.

The report titled “Mobile Payment (Mobile Money): A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides overview of market, market trends, product overview, product developments/introductions, and recent industry activity. The study analyzes market data and analytics in terms of number of users and value sales for regions including the North America, Europe, Asia-Pacific, and Rest of World. The study also analyzes global market data in terms of value sales for mobile technology type including Near Field Communications (NFC), SMS Mobile Payment, Unstructured Supplementary Service Data (USSD), and Wireless Application Protocol (WAP).

Source: PR Web

Will Mobile Payment Company FaceCash Beat the Credit Cards?

by

A Silicon Valley company with a noteworthy founder has created a mobile payment system called FaceCash that it hopes will one day displace credit cards.

You might be tempted to write this off as too audacious. But consider this: The founder is Aaron Greenspan, the Harvard graduate who claimed in 2007 that his former schoolmate, Mark Zuckerberg, ripped off his work when Zuckerberg created Facebook. Greenspan settled a trademark lawsuit with Facebook and Zuckerberg filed in 2008 last year.

via VentureBeat.

Paybox 3rd Generation “Mobiliser” Product Goes Live

by

Paybox, a provider of mobile payment enterprise solutions, announced the paybox Mobiliser products, which allow mobile operators and financial service providers worldwide successful market entry into mobile payment and mobile commerce.

In developed markets, paybox — beyond mobile person-to-person payments — enables the creation of open, national standards for any kind of mobile payment. With paybox Mobiliser products, banks and operators in emerging markets can create low cost, financial services for the unbanked.

Eckhard Ortwein, co-founder and CEO states: “The paybox Mobiliser products coupled with our expertise enable customers to rapidly deploy, easily launch, successfully market and efficiently operate m-payment and m-commerce solutions”.

The Austrian operators A1 Vodafone and One have become leading players in m-commerce by creating a national standard based on paybox.

Paybox offers its customers following solutions:

  • paybox TopUp Mobiliser — topping up airtime or other credit accounts via handset, paying electronically or cash-based through a low-cost distribution network.
  • paybox Money Mobiliser — transferring money at home and cross-border, do highly secure online shopping, pay at the POS, pay bills and execute bank services with their mobile phone
  • paybox Brand Mobiliser — allowing companies with premium brands to act as an MVNO or VoIP-Provider
  • paybox Content Mobiliser — enabling end customers to buy content, gamble, shop, park, buy tickets for public transportation or events, pay at vending machines, track fleets

The paybox Mobiliser products are built on the patented paybox Mobiliser platform which has been developed since 1999 covering services required for transaction and payment processing in a mobilised world, namely: Authentication, authorization and reporting.

Source: PRNewswire

Global Mobile Banking Customer Base to Reach 1.1 Billion by 2015

by

Mobile banking is emerging as a key electronic channel for the global banking and financial services industry. The ubiquitous nature of mobile devices and services, and the ability of mobile banking services to reduce overall operational costs, streamline operations, and expand customer base are expected to boost prospects in the industry. Increasing adoption of mobile phones among general consumers, particularly among the younger generation in the 18-34 years age group, and rapid rise in demand for mobile payments are expected fuel demand for mobile banking services.

The industry is also expected to benefit from favorable government and regulatory specifications, which are aimed at providing banking services to unbanked customers to promote economic development.The United States, Europe and Asia-Pacific dominate the global mobile banking market, as stated by the new market research report on mobile banking. The market for mobile banking is set to achieve tremendous growth, with Asia-Pacific emerging as the predominant market in terms of customer base.

North America and Europe are characterized by high usage of mobile devices for Internet access, as a result of which mobile banking is an extension of online banking services. In Europe, mobile banking services are still in early stages, and regarded primarily as ‘convenience providers’ and ‘value additions’ rather than revenue generators. On the other hand, the Middle East and African markets are expected to benefit from the mobile banking technology’s ability to provide financial services to remote areas.Rapid growth of mobile banking services is driving banks to devise strategies to sustain presence in an intensely competitive market. Success of a bank’s mobile banking service is dependent on its ability to retain customer base and achieve cost reductions.

Key players profiled in the report include Bank of America, JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc., , ClairMail Inc, Firethorn Holdings LLC, Fronde Anywhere Ltd, Industrial & Commercial Bank of China Limited, Macalla Software Ltd, mFoundry, Monitise plc, MShift Inc., and Sybase Inc., among others.The report titled “Mobile Banking: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics in terms of number of customers for The United States, Canada, Europe, Asia-Pacific, and Rest of World.For more details about this comprehensive market research report, please visit – Mobile Banking Market Report

Source: PR Web

VeriFone Announces PAYware Mobile Enterprise Solution

by

VeriFone Systems, Inc. has announced a new mobile card acceptance solution called PAYware Mobile Enterprise.

The secure solution integrates with existing in-store POS systems. In addition to enabling new in-store mobile applications, it is supported by VeriFone’s PAYware Connect gateway for remote payment acceptance outside of store environments.

PAYware Mobile Enterprise incorporates a PCI-approved PIN debit keypad, which allows merchants to leverage dramatically lower transaction costs, and a 2D bar code scanner for  performing mobile check out or inventory control tasks.

In addition, PAYware Mobile Enterprise features built-in NFC and EMV smartcard capabilities, ensuring North American retailers are ready to embrace NFC-enabled mobile phones and  rollout of EMV smartcards.

“With PAYware Mobile Enterprise, retailers can revolutionize customer service and store operations by utilizing versatile mobile applications and secure payment acceptance integrated with existing POS infrastructure,” said Erik Vlugt, VeriFone vice president of product marketing. “VeriFone’s card encryption and tokenization solution for smart devices isolates payment actions to ensure retailers can maintain a secure payment environment.”

PAYware Mobile Enterprise is the first commercially viable solution to integrate mobile payment devices into a PCI-compliant environment and drastically reduce PCI scope and the merchant’s overall risk profile.

Smartphones and WiFi-equipped PDAs, while rich application platforms, were not designed for use as payment acceptance devices and thus generally do not adhere to payment industry security requirements. To keep these otherwise vulnerable mobile devices out of PCI scope, PAYware Mobile Enterprise incorporates VeriFone’s VeriShield Total Protect, which provides encryption and tokenization in one all-encompassing solution framework to protect data in-flight and at-rest and to isolate payment activities from device applications and storage.

With PAYware Mobile Enterprise, retailers can equip store personnel with smart mobile devices that feature rich graphical displays and compact form-factors for roaming checkout operations, so that items can be scanned, payment cards accepted and receipts emailed to customers or transmitted to a nearby wireless printer with ease.

VeriFone will provide customized applications, and critical management, decryption/tokenization and gateway services to enable new mobile applications such as in-store queue-busting, inventory management and out-of-store delivery and service calls. VeriFone provides managed services options including initial application load, key injection, updates, maintenance, licenses and warranty for a monthly fee.

The initial release of PAYware Mobile Enterprise is scheduled for early 2011 and VeriFone is previewing the solution at the National Retail Federation show in New York this week.

Source: Verifone

DeviceFidelity and SpringCard Launch Moneto NFC Phone Cases as Mobile Wallet Solution

by

Moneto, developed by DeviceFidelity, Inc. and Spring Card Systems, announced today the launch of its mobile payment solution–the moneto iPhone wallet, which is powered by MasterCard PayPass technology and linked to a general purpose reloadable MasterCard prepaid card.

“For over a decade, MasterCard has led the transformation of mobile phones into secure mobile payment devices,” said James Anderson, senior vice president, Mobile and Emerging payments at MasterCard. “We are excited to partner with moneto so that iPhone users can enjoy the convenience of paying for purchases with a simple ‘tap’ at thousands of PayPass locations around the globe.”

The moneto mobile payments technology uses a NFC-enabled microSD chip embedded in a patented, protective iPhone case. iPhone users sign up at moneto.me to receive the case, install the moneto app from the app store, and activate their account. Users can launch the moneto app to view their account balance, check transaction history and make everyday in-store purchases with a tap of their iPhone at any PayPass-enabled contactless payments reader at the point of sale. Users can fund their moneto prepaid account through direct deposit, ACH transfer or cash/credit/debit card-enabled third-party money transfer services such as MoneyGram, Western Union, PayPal or GreenDot.

“As this breakthrough mobile wallet launches in the US, it not only makes mobile payments available to iPhone users for the first time but it also opens the door for consumers to adopt NFC while pushing mobile commerce forward,” said Deepak Jain, DeviceFidelity President and CEO. “We are excited to partner with MasterCard and SpringCard to break the barriers for a rapid effective rollout that will spur both consumers and merchants to adopt this new wave of electronic commerce.”

moneto also comes with a companion prepaid MasterCard to give users the ability to access cash at ATMs and make online purchases, pay bills or shop at merchants that do not accept contactless payments. moneto also enables card-to-card and wire-fund transfers from a secure internet portal accessible via moneto.me.

“Consumers have been hearing about NFC and mobile wallets for years, now with moneto they can finally start using it and with the most popular smartphone device on the planet. The moneto mobile wallet app is focused on delivering a faster and easier shopping experience that is consumer friendly,” said Kevin Haddad, president of SpringCard. “Our vision is simple: People who use our applications should not have to worry ‘Will this work with my phone?’ as consumers can easily make secure purchases regardless of their phone, carrier, or bank.”

Safety and Security

Moneto users can prevent unauthorized access to their account using a PIN that is safely stored in a secure chip inside the microSD. The sleek and durable case design protects the iPhone and the NFC enabled microSD securely stores and encrypts the card information. Additionally, the moneto account is backed by MasterCard’s Zero Liability, which protects consumers against unauthorized purchases.

Availability

moneto for iPhone will be available for online ordering in the U.S. immediately at moneto.me for $79.95 which includes $10.00 of pre-loaded funds. The moneto mobile wallet is available in limited release on the iPhone 4S, iPhone 4, iPhone 3GS, and iPhone 3. A number of Android models will also be supported by 2Q12. Additional phone support will be added throughout the year.

The moneto prepaid MasterCard card is issued by University National Bank, member FDIC, pursuant to a license from MasterCard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

Source: PR Web