Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
C-SAM, Inc.
C-SAM’s main business is secure mobile transactions. The company offers a range of mobile phone based financial
and non-financial services, which have been commercially launched in several markets.
C-SAM is based in the United States, with operations across Japan, China, India, Singapore and Mexico. The
Company licenses technology and provides turn-key services to banks, settlement networks, mobile
network operators, merchants, enterprises, system integrators, cities, postal networks, and large
infrastructure providers.
C-SAM’s carrier-grade platform has evolved over the last
ten years. The company holds ten patents, and twenty applications are pending. The platform
supports different handset environments and mobile carrier networks, as well as Near-Field-
Communication (NFC) based secure proximity transactions over mobile phones for payment as well as
non-payment applications.
C-SAM’s security architecture enables providers to configure different
trust models, and effectively aggregate applications from disparate domains without adversely affecting
their existing risk management practices.
C-SAM markets three main solutions – M-Payments, M-City and M-University.
mPayments
C-SAM’s mPayments solution enables consumers and merchants to conduct secure transactions related to Banking, Money Transfer, Insurance, Ticketing, and Ads & Coupons, in the real and virtual world via mobile phones and other devices across existing wireless networks.
C-SAM licenses its solutions as well as provides turn-key services, setting up its platform, building the necessary interfaces to the back-end host systems, and jointly operating various services on a revenue-share basis.
C-SAM Founder
Dr. Sam Pitroda is an internationally respected development thinker, telecom inventor and entrepreneur who has spent 44 years in Information and Communications Technology and related human and national developments.
Credited with having laid the foundation for and ushered India’s technology and telecommunications revolution in the 1980s, Dr. Pitroda has been a leading campaigner to help bridge the global digital divide.
During his tenure as Advisor to Prime Minister Rajiv Gandhi in the 1980s Dr. Pitroda headed six technology missions related to telecommunications, water, literacy, immunization Dairy and oil seeds. He was also the founder and first chairman of India’s Telecom Commission.
Dr. Pitroda was Chairman of India’s National Knowledge Commission (2005-2009), an advisory body to the Prime Minister of India, set up to provide a blueprint of reform of the knowledge related institutions and infrastructure in the country. The Commission has offered a series of recommendations on various aspects of the knowledge paradigm to help India meet the challenges of the 21st century.
He is currently Advisor to the Prime Minister of India on Public Information Infrastructure and Innovations.
He holds close to 100 worldwide patents and has published and lectured widely in the US, Europe, Latin America and Asia.
More information: C-SAM.com
Source: C-SAM Inc.