Collaboration is the key
In theory, the concept of mobile payment, a strong business case given the high penetration of mobile devices such as mobile phones and PDA? S, in many parts of the world. In addition, mobile operators and financial institutions to introduce the use of these devices, an interesting way to allow their customers to make payments. On the consumer side, users can enjoy the convenience that allow them to purchase goods and services anywhere.
In principle, a mobile device as a POS (Point of Sale) are used. Mobile operators and financial institutions to maintain this concept as the next logical step in mobile devices through a reliable payment for consumers, in addition to cash, check, credit card and debit card.
Currently, financial institutions are rolling out wireless capabilities outlet for operators to compete in the corner, with a consumer? cellphone S. Several new services around the world in which merchants accept payments wireless POS terminals were introduced. The POS terminals wireless, for example, allow services merchant house in which payments are submitted and accepted in the provision of goods or services to consumers? location.
Wireless Terminals POS using wireless networks of mobile operators, payment orders with a merchant acquirer to send? S payment server. Therefore, the wireless point of sale as an extension of traditional payment services are ordered. Since in some parts of the world almost all mobile phones will soon, and most locations offer merchant POS terminals as a form of payment, unless it is conceivable that the mobile device over a large part of the market for retail payment .
Since wireless POS implementations that the current payment systems infrastructure, users need to use a credit card or debit card to make purchases. The ease with current methods of wireless POS are combined with the fact that these terminals can be brought to the place of purchase. For example, in a restaurant with users paying for them by debit card from his seat, or for their food, delivered to your door.
Mobile devices allow the use of many services, services that do not require a card reader, and combinations of PC modem, or a businessman? S TPE cable. Today, mobile devices have a chip that can be used to store information and provide a security clearance and identification.
The need for interoperability
But these services accessible to the majority of mobile phone users, service providers must deploy mobile payment services that offer interoperability. There were many mobile payment pilot conducted with mobile devices that can be used as a means of payment, some of which grew into full mobile payment services (eg, PayPal, paybox, MovilPago). To date, we have? Ve discovered that the key to providing mobile payment service has passed the advantages it gives the end user and end-user customer convenience, to security and freedom, a few key elements.
Although the industry has a long way to mobile devices become a consumer? S payment instrument of choice to ensure the stability of a viable mobile payments infrastructure that go together is the key.
Both mobile operators and financial institutions have tried without much success, to implement its own individual pilot projects. Both sides have much difficulty. Mobile operators, for example because of their large customer bases, know-how and understanding of the settlement seemed the most likely candidates to provide mobile payment services. But problems with the necessary risk management and collaboration of many vendors to achieve interoperability via incurred. Financial institutions on the other side are facing a limited number of users and high infrastructure costs. To solve these problems, started mobile operators and financial institutions as well as jointly providing mobile payment services to their customers. For example, the leading Dutch online bank ING / Postbank Nederland has to offer in the Netherlands, the number three operator Telfort Mobile partnership, users with mobile access to the bank? S retail applications and associated user accounts Telfort bank? S functions prepaid top-up service are charged to the account. In this case, the fact that both organizations benefit from their natural symbiosis a big step in the right direction.
Currently, there are four people it takes to make a payment by credit card (acquirers, issuers, merchants and consumers), payment via mobile phone, there are five (mobile operators, acquires the issuers, merchants and consumers). This would result in the ideal business model of cooperation between mobile operators, financial institutions, technology providers and associations to create a degree of standardization, which is the successful implementation of an infrastructure solid mobile payments guaranteed.
Still calling on many issues, including the features available on the current generation of networks and a lack of standards for some, are still undermine efforts by these companies in the industry. In addition, questions regarding income-generating business models remain.
Completion
As already mentioned, a cell phone and PDA penetration rates higher than ever, with projected growth rates show an exponential growth of consumer acceptance. Consequently, the focus of the industry will focus on the business side. Currently it is not possible for a mobile operator or a financial institution to deploy competing services on a proprietary model does not provide interoperability. Mobile operators and financial institutions must work together for mobile payment services that combine to implement a consumer? bank account of their mobile subscription. payment services should not be considered a competitive advantage, but as a necessity, which is the successful introduction of mobile commerce player.
Today, we see a number of initiatives to take place, including the creation developed by various industry associations to address various problems with the wireless industry. These activities run mobile operators and financial institutions are beginning to work together to launch payment services. Top pre-paid, for example, is the first truly commercial application of mobile payment is introduced in several markets. to enable financial institutions and mobile operators mobile customers, electronic prepaid wireless accounts with several banks of channels such as telephone banking, Internet banking and mobile banking and ATM machines, to fully automate? “Pay top-up together? Experience with SMS (Short Message Service).
Currently, liquidity in the virtual portfolios residing either on the mobile device, or stored centrally on the platform of open network service. Consumers subscribe to the service through their financial institutions, mobile network operator or service provider, depending on the configuration of the service. Registration is required to connect consumers? subscription data S with their financial information and delivery of the mobile device for the service. Future methods to users that their mobile device as a way to easily access their bank accounts with mobile operators? S-function is merely carry data. In addition, smart cards issued by financial institutions begin to spread further.
When developing mobile services and infrastructure, we begin the true concept of mobile payment at the height of the hype to see? Anywhere, any payments.? Soon, mobile payments are an integral part of lifestyles of consumers have become, instead of payment instruments that we have in our wallets today hidden. It is clear that cooperation between mobile operators and financial institutions is needed to build a profitable offer mobile payments. It is also clear that the next logical step for the industry to provide payments to consumers the possibility of payments for goods and services on their mobile devices. The concept is only valid for? Payments at any time and anywhere? is possible, by providing access via a mobile device. “Where there is a wireless connection, there is a way” and the key to the success of the industry is as simple as the consumer what they want.
