The economics of the mobile payment business model require close attention from all parties — mobile operators, banks, card issuers and technology players — if scalable solutions are to gain traction.
Mobile money will help drive the transformation of the payments landscape, accounting for a growing share of non-cash payments in years to come.
Payment solutions transcend
The reach of mobile infrastructure coupled with the appeal of smartphones will help ensure that mobile can meet a range of customer needs, as innovation takes place on multiple fronts.
Technology cycles are shortening as payment solutions that transcend SMS appear: operators have to define the areas where they can add value, whether directly to the end user or as an intermediary elsewhere in the value chain.
Exhibiting potential amidst a complex landscape
For mobile payments to realize their potential, policymakers have to take a range of steps. Facilitating service implementation and interoperability has to be prized as different payment systems continue to coexist. This is particularly vital because of mobile's dual status as both stand-alone and complementary payment channel.
As mobile payment scenarios expand and industry interrelationships become more complex, shared challenges present themselves. The economics of the mobile payment business model require close attention from all parties — mobile operators, banks, card issuers and technology players — if scalable solutions are to gain traction.
Industry interrelationships become more complex
Energizing embryonic value chains while reassuring end users will require greater levels of collaboration between operators themselves as well as with partners in different sectors and geographies. Engage-ment with a range of policy-makers - governments, central banks and regulators — can foster the right conditions for coordinated investment.
Ultimately, flexibility — in terms of policy approach, customer proposition and stakeholder management — should be top of mind for all players as the handset catalyses a more efficient customer payments experience, and one that brings with it greater advantages in terms of information richness and location sensitivity.