Comments on: Mobile Payments: Replacing Cash in the “Last Mile” http://paymentsviews.com/2010/01/10/mobile-payments-replacing-cash-in-the-last-mile/ Views and Opinions about the World of Payments Tue, 07 Sep 2010 01:35:36 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Ward Hagenaar http://paymentsviews.com/2010/01/10/mobile-payments-replacing-cash-in-the-last-mile/comment-page-1/#comment-5338 Ward Hagenaar Tue, 12 Jan 2010 10:13:56 +0000 http://paymentsviews.com/?p=2932#comment-5338 I agree with the main point of this article, in the western world the success of the widespread availability of electronic card based payments and access to funds prevents an easy uptake of the mobile phone as the new token for payments. A mobile payment definition could be a payment that is initiated via a mobile phone and the control over the funds is confirmed via the mobile phone. Mobile payments can be either be related to remote or proximity payments, the challenges for both payment contexts are very different. The mobile phone can be directly of added value for remote payments (as long as they are guaranteed by the schemeowner) either B2C or P2P. The internet is often an involved channel for providing the content or community where the transaction is originated. The case for proximity payments is closely related to convenience within the shopping experience, this could be a faster checkout or a combination with a better service, loyalty and in store transactions. In the Netherlands we like to think that the proximity payments are aimed at low value transactions (currently settled for in cash or pre paid chipcards) and remote payments also for macro payments. I agree with the main point of this article, in the western world the success of the widespread availability of electronic card based payments and access to funds prevents an easy uptake of the mobile phone as the new token for payments. A mobile payment definition could be a payment that is initiated via a mobile phone and the control over the funds is confirmed via the mobile phone. Mobile payments can be either be related to remote or proximity payments, the challenges for both payment contexts are very different. The mobile phone can be directly of added value for remote payments (as long as they are guaranteed by the schemeowner) either B2C or P2P. The internet is often an involved channel for providing the content or community where the transaction is originated. The case for proximity payments is closely related to convenience within the shopping experience, this could be a faster checkout or a combination with a better service, loyalty and in store transactions. In the Netherlands we like to think that the proximity payments are aimed at low value transactions (currently settled for in cash or pre paid chipcards) and remote payments also for macro payments.

]]> By: Toffene B. Kama http://paymentsviews.com/2010/01/10/mobile-payments-replacing-cash-in-the-last-mile/comment-page-1/#comment-5337 Toffene B. Kama Mon, 11 Jan 2010 21:41:10 +0000 http://paymentsviews.com/?p=2932#comment-5337 Great article Jacqueline. Thanks for capturing so well the main points of this event, specifically the new payment chain involved in the emerging markets : Originator (Funds owner) --> Buyer (perform the payment act ) --> Merchant. I think most payment systems (cash, cards,...) ignore this "funds owner" needs which makes them difficult to adapt to such markets. There is a clear technology gap to fill to make it happen. Thanks Menekse and to all attendees. TBK Great article Jacqueline.
Thanks for capturing so well the main points of this event, specifically the new payment chain involved in the emerging markets : Originator (Funds owner) –> Buyer (perform the payment act ) –> Merchant.

I think most payment systems (cash, cards,…) ignore this “funds owner” needs which makes them difficult to adapt to such markets. There is a clear technology gap to fill to make it happen.

Thanks Menekse and to all attendees.

TBK

]]> By: Menekse Gencer http://paymentsviews.com/2010/01/10/mobile-payments-replacing-cash-in-the-last-mile/comment-page-1/#comment-5336 Menekse Gencer Mon, 11 Jan 2010 17:07:14 +0000 http://paymentsviews.com/?p=2932#comment-5336 Jacqueline, Thanks again for another great writeup and for coming to our session. For anyone who'll be in NYC on Feb. 18th, I'll be presenting at the Harvard Business School Alumni Club on Mobile Payments. I'll post info on it on my website: www.mpayconnect.com. Cheers! Menekse Jacqueline, Thanks again for another great writeup and for coming to our session. For anyone who’ll be in NYC on Feb. 18th, I’ll be presenting at the Harvard Business School Alumni Club on Mobile Payments. I’ll post info on it on my website: http://www.mpayconnect.com.

Cheers!
Menekse

]]> By: John Mavriyannakis http://paymentsviews.com/2010/01/10/mobile-payments-replacing-cash-in-the-last-mile/comment-page-1/#comment-5335 John Mavriyannakis Mon, 11 Jan 2010 16:23:43 +0000 http://paymentsviews.com/?p=2932#comment-5335 I agree whole heartedly with the commentary above and the difficulty associated with gaining merchant adoption. One distinction that I have been working with different providers is "is it a new payment type or a new channel to an existing payment". This is an important point as the line between payment type and channel which used to be 1:1 is now becoming all:all - credit card via Card, Mobile NFC, Card NFC, etc etc etc. The same will evolve for other payment types as well. In developing issuance strategies payment providers, banks etc, need to focus on developing a payment type agnostic platform strategy which allows them to add to channels easily and link existing and new payment types as simply as possible as well. I agree whole heartedly with the commentary above and the difficulty associated with gaining merchant adoption.

One distinction that I have been working with different providers is “is it a new payment type or a new channel to an existing payment”. This is an important point as the line between payment type and channel which used to be 1:1 is now becoming all:all – credit card via Card, Mobile NFC, Card NFC, etc etc etc. The same will evolve for other payment types as well. In developing issuance strategies payment providers, banks etc, need to focus on developing a payment type agnostic platform strategy which allows them to add to channels easily and link existing and new payment types as simply as possible as well.

]]> By: Benjamin Lyon http://paymentsviews.com/2010/01/10/mobile-payments-replacing-cash-in-the-last-mile/comment-page-1/#comment-5334 Benjamin Lyon Sun, 10 Jan 2010 22:55:16 +0000 http://paymentsviews.com/?p=2932#comment-5334 Thanks for the great write-up, Jacqueline! I really enjoyed the issues people raised and look forward to following the comments here. All the best, Ben Thanks for the great write-up, Jacqueline! I really enjoyed the issues people raised and look forward to following the comments here.

All the best,
Ben

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