Welcome!

News Feed Item

Mobey Forum: Prepaid Will Be a Defining Force in the Future of Mobile Commerce

The rapid convergence of prepaid and mobile commerce is creating significant opportunities for merchants and other stakeholder groups to push banks and other day-to-day money management service providers down the value chain further and faster than ever before. This is the view expressed by Mobey Forum in The Prepaid Mobile Wallet: Taking Prepaid into Account, the latest instalment in the global, bank-driven business association’s series of mobile wallet white papers, published today.

The paper contends that innovative prepaid service models and ‘second generation’ mobile wallet solutions are mutually supportive. When combined, each will drive innovation in the other, creating a powerful catalyst that will propel both prepaid and the mobile wallet industry forward and into markets that have, until now, been majority controlled by banks, such as the provision of day-to-day current account services.

“As prepaid has developed its popularity has soared, but this is just the beginning,” comments Amir Tabakovic, Board Director and Chair of the Mobile Wallet Workgroup, Mobey Forum. “The rapidity with which these solutions are evolving, together with the potential for future prepaid current account services to be offered to mobile wallet users, makes the future for traditional banks in this space unclear. What is certain, is that banks must now recognise prepaid as a major driving force, not only in the future of mobile wallets, but in wider mobile financial services. Banks must also recognise that if they are to successfully establish anything more than a back end processing position in the mobile wallet value chain, they must accept that the wider development ecosystem has neither the need, nor the appetite to wait while they find solutions to their problems with regulations, operating procedures and legacy systems integration. This is especially so when prepaid represents such a familiar and widely deployed model to so many stakeholder groups that are vying for market dominance, including merchants, MNOs, e-money providers, payment schemes and a whole variety of over-the-top players.”

The Prepaid Mobile Wallet: Taking Prepaid into Account paper analyses the intersection of prepaid commerce and the mobile wallet, in order to present strategic options for banks seeking to respond to the emerging threat from prepaid mobile solutions. The paper explores the broad spectrum of prepaid mobile applications and analyses solutions from providers such as Google, Apple, Starbucks, AtB, American Express and T-Mobile, together with examples of how forward-thinking banks such as Danske Bank and PostFinance are responding to the market’s changing dynamics.

“The introduction of Host Card Emulation is likely to inject further energy into the prepaid model,” continues Tabakovic. “It will enable merchants and other players to issue secure closed loop mobile prepaid solutions via an NFC payments model that is much simpler than that offered by the current hardware-based secure element ecosystem, while still benefitting from the merchant’s contactless acceptance infrastructure. Indeed, once HCE technology has matured to a state of full market readiness, it may be possible for merchants to disintermediate banks, MNOs and payment schemes from their mobile prepaid products altogether, by offering secure HCE-NFC payments to customers via their own closed loop solutions.”

The Prepaid Mobile Wallet: Taking Prepaid into Account is available for download free of charge from the Mobey Forum website: http://www.mobeyforum.org/whitepaper/prepaid-mobile-wallet/.

Industry stakeholders can find out more about the Mobile Wallet Workgroup and how to participate by attending the third annual Mobey Day taking place in Barcelona from 7-8 October. For more information on this event and to find out more about becoming a member of Mobey Forum, visit http://www.mobeyforum.org.

-ENDS-

About Mobey Forum

Mobey Forum is the global industry association empowering banks and other financial institutions to lead in the future of mobile financial services.

Mobey Forum connects industry thought leaders to identify commercial drivers for the development of better mobile commerce. Mobey Forum’s members collaborate to analyse business strategies and technologies to create innovative, interoperable and competitive financial services.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, will discuss some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he’ll go over some of the best practices for structured team migrat...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Organizations do not need a Big Data strategy; they need a business strategy that incorporates Big Data. Most organizations lack a road map for using Big Data to optimize key business processes, deliver a differentiated customer experience, or uncover new business opportunities. They do not understand what’s possible with respect to integrating Big Data into the business model.
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, will discuss how from store operations...
As people view cloud as a preferred option to build IT systems, the size of the cloud-based system is getting bigger and more complex. As the system gets bigger, more people need to collaborate from design to management. As more people collaborate to create a bigger system, the need for a systematic approach to automate the process is required. Just as in software, cloud now needs DevOps. In this session, the audience can see how people can solve this issue with a visual model. Visual models ha...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they bu...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...