We are witnessing the second wave of interest in mobile payments. Like the first, this second wave is characterised by the launch of a large number of pilots, utilising a variety of channels and technologies. With high perceived demand and accessible technology for realisation, the growth in the number of pilots around the globe is now accelerating, with a notable increased focus on (local) money transfer and remittances.
Despite the flurry, sustainable commercial success is rarely achieved. In developed countries with well developed and redundant transaction infrastructures the effect of failure will be negligible. Better luck next time. But, in developing countries where alternative transaction infrastructure is lacking, failure of mobile payment initiatives could result in serious long term value dilution of the mobile channel. If the mobile payment channel is tainted by lack of trust or reliability as a result of cutting corners in pilots, there is no alternative channel for financial services delivery to fall back on, relegating these economies back to square one. Service providers and regulators in all countries involved should take notice of this and ensure that every measure is taken to get mobile payments –in pilot or production- ‘first time right’.
The aim of this report is to contribute to the further understanding and structuring of mobile payments, allowing decision-makers to better find their way in this complex matter. It is intended for the entire mobile payments industry, including merchants, financial institutions, mobile network operators, handset manufacturers, scheme organisations and policy makers.
The report consists of two parts. Part 1 elaborates on the trends, developments and issues in the field of mobile payments. Part 2 provides an overview of more than 150 mobile payment initiatives from around the world.
‘Mobile payments 2010’ is written and published by Innopay in cooperation with Telecompaper and will be free to download at The Paypers from 9 November 2009. Save the date.
Pre-order this free publication by sending an e-mail to editor@thepaypers.com.
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