Every mobile network operator in the world will be looking at innovative mobile payment solutions this week at Mobile World Congress (Twitter: #MWC13) in Barcelona. More and more of the devices they are connecting to their networks will be NFC-enabled, and each operator will be keen to enable mobile payments for their customers and retail partners in a way that means they can be a key player in the payment ecosystem.
The answer lies in not simply offering mobile payments, but enabling mobile commerce.
The mobile wallet has traditionally been a hot talking point in Barcelona. For more than a decade it has sparked debate and hit this event’s international headlines. For many, though, its promise has never truly been delivered – up until now.
VeriFone is predicting that this could be the year the mobile wallet finally hits a watershed. Not just because technical enablers like NFC are more aligned for delivery, but because there is now a more cohesive and dynamic ecosystem in place to make it happen.
However, we also believe that collaboration between mobile operators, MVNOs, Internet brands, app developers, retailers, transport companies, corporates and payment partners is necessary for truly integrated, multi-purpose m-wallet apps to survive and thrive.
VeriFone’s PAYMEDIA™ Universal Acceptance Platform is part of the solution, enabling operators and wallet providers to download wallet acceptance applications directly to merchants’ point of sale systems and allows retailers to connect the app to the provider. The PAYMEDIA Mobile Marketing Platform, meanwhile, enables highly-targeted marketing and seamless loyalty programs.
At Mobile World Congress today, VeriFone showed this ‘enablement’ in action by demonstrating an omni-channel checkout experience, in partnership with MasterCard. The MasterPass® system allows consumers to use any payment card or enabled device pay – online, in-store or anywhere. Combined with VeriFone’s GlobalBay Mobile Point of Sale (mPOS) and Clienteling applications, a store can scan items, apply coupons and discounts, and complete transactions from any location in the store, not simply a fixed till point. (Read the Press Release here)
It also helps build more personal and profitable customer relationships by recording consumer preferences and buying habits, and using customer data for promotions and cross-selling. “Paying with a phone” is just the tip of the iceberg.
So, does this mean 2013 will be the year of the mobile wallet?
While widespread consumer adoption may not happen this year, VeriFone is certain that the mobile wallet will achieve greater ‘enablement’ in 2013. Especially now that industry players are looking to make their propositions more appealing – with apps that truly replace the physical wallet; are more meaningful to the public; and which carry better value for partners, like retailers, who are tasked with accepting it.
Hi Dan,
As a user of this technology, I would like it to move to the next level. In other words, I would like to eliminate the concept of a wallet at all – electronic or otherwise. With today’s ever improving technology, the card readers should collect biometric data from the purchaser. The machine should do voice matching, face matching, fingerprint comparisons, and any other techniques that would uniquely identify the user. I would love it if I could walk up to the checkout line at my favorite grocery store and the device not only recognizes me, but also matches me to the right account at the bank (without having to slide a card or have a cell phone or anything else). Nothing ticks me off more than when I’m in Texas visiting my daughter and the bank thinks its fraud because I live in Calilfornia. If the unit collects biometric data, the chances of fraud go down exponentially. All the biometric data can be encrypted at the device and sent to the payment solution.
I like the concept, dont’ know if it is practical at today’s prices, but as a user, I would love to be able to walk up to the check out counter and either just talk to the cashier, or talk to a device and be approved – securely.
Thoughts?
It’s a nice roadmap Dale. I think we tend to forget that we’re in the “steam engine” phase of all things mobile-related. And while it can’t happen fast enough for any of us, when we think of how far we’ve come from the bricks we called cell phones in the early 90s, it’s pretty mind-boggling. I personally think the next 10 years will see some real development in biometric security. Hey…thanks for the comment. Chris (I manage the blog!)