Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                          Global Mobile ...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                                    Pros...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                               What is t...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                               What is t...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                    What methodology has...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                    Which mobile operato...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance               How do mobile operator br...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                         What is the rep...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance          What are the key features of t...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                         How can the res...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance        How can the interactive PartnerB...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                           Who can use t...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                         What are some o...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance            What are some of the key fin...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance            What are some of the key fin...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance           What are some of the key find...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                              What is th...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance                   How can the research ...
Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance         Definitions of mobile payment p...
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Report prospectus global_mobile_operators_strategies_payments_banking_insurance_assistance

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Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance is a report and interactive PartnerBASE dataset that provides a detailed worldwide overview of the fast-growing involvement of mobile operator brands and groups in financial services. For 255 brands spread across 70 countries, it outlines their activity and strategic partnerships for over 20 separate financial product and service categories as follows:

- payments: contactless merchant payments; payments via bank card / account; payments via mobile phone bill; payments via network account; talktime / call credit transfer;

- banking: mobile banking (bank current accounts); credit cards (non-virtual); prepaid cards (non-virtual); consumer finance / micro-credits;

- insurance: mobile phone, mobile gadget, bill payment protection, identity protection, motor, household, travel, accident, health, life;

- assistance: home, legal, medical, road.

Across all 255 brands researched, Finaccord identified a total of over 800 distinct product initiatives and partnerships involving close to 400 banking institutions, payment companies, technology firms, insurance providers and assistance entities. Moreover, within a separate analysis, Finaccord summarises the main strategic moves made in financial services by the leading 65 mobile telecoms groups worldwide.

Types of organisation that will be able to use this research include the following:

- mobile telecoms groups: this research will benchmark the activity in payments, banking, insurance and assistance of your direct competitors and other comparators across major countries around the world with regional coverage of Africa, Asia Pacific (including Australasia), Europe, the Middle East, Latin America and North America;

- banks, insurance providers and assistance firms: as a consequence of their sheer size, their on-going relationships with customers and the increasing functionality of the mobile devices used by those customers, strategic partnerships with mobile operators represent a major opportunity for financial services institutions;

- payment and other financial technology companies: it is often the case for mobile operators that opportunities in mobile payments, in particular, can only be realised through collaboration with payment or other financial technology companies, especially as they seek to add international functionality to their initiatives in this arena;

- management consultancies: if you are helping a financial institution or technology company with its strategy in relation to mobile operators or advising a mobile operator how it can make money from financial services, then this research will explain the global activity of mobile operator brands and groups in financial services, saving time and effort on researching the subject yourself.

For further information about this research, please access the table of contents and report prospectus by clicking on the links at the top of this page, or e-mail info@fin

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Report prospectus global_mobile_operators_strategies_payments_banking_insurance_assistance

  1. 1. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance Global Mobile Operators: Strategies in Payments, Banking Insurance and Assistance Report Prospectus June 2012 Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 1
  2. 2. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance Prospectus contents Page What is the research? 3 What is the rationale? 4 What methodology has been used? 5 Which mobile operator groups are covered within the strategic analysis? 6 How do mobile operator brands covered break down by region and group? 7 What is the report structure? 8 What are the key features of the research? 9 How can the research be used? 10 How can the interactive PartnerBASE™ be used? 11 Who can use the research? 12 What are some of the key findings? 13-16 What is the cost and format? 17 How can the research be purchased? 18 Definitions of mobile payment products and services covered 19 Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 2
  3. 3. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What is the research? Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance is a new report and interactive PartnerBASE dataset that provides a detailed worldwide overview of the fast- growing involvement of mobile operator brands and groups in financial services. For 255 brands spread across 70 countries, it outlines their activity and strategic partnerships for over 20 separate financial product and service categories as follows: • payments: contactless merchant payments; payments via bank card / account; payments via mobile phone bill; payments via network account; talktime / call credit transfer; • banking: mobile banking (bank current accounts); credit cards (non-virtual); prepaid cards (non- virtual); consumer finance / micro-credits; • insurance: mobile phone, mobile gadget, bill payment protection, identity protection, motor, household, travel, accident, health, life; • assistance: home, legal, medical, road. Across all 255 brands researched, Finaccord identified a total of over 800 distinct product initiatives and partnerships involving close to 400 banking institutions, payment companies, technology firms, insurance providers and assistance entities. Moreover, within a separate analysis, Finaccord summarises the main strategic moves made in financial services by the leading 65 mobile telecoms groups worldwide. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 3
  4. 4. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What is the rationale? There are a number of reasons for producing this report. First and foremost, and while the precise magnitude of the opportunity varies by country, the number of customers of mobile operator brands typically runs into millions or tens of millions which makes them potentially attractive as affinity partners from the point of view of both financial institutions and financial technology companies; in any given country, few other organisations possess as many on-going customers as the leading mobile operators. Moreover, with growth from established revenue streams tending to slow, as the penetration of mobile subscriptions reaches maturity, mobile operators are looking to new fields of activity, such as financial services, to generate fresh sources of income. Indeed, rapid advances in payment and other financial technologies signify that mobile operators are well-positioned to benefit from growth in mobile payments and banking. In addition, the continuous relationship of mobile operators with their customers and the fact that their brands often command a relatively high degree of trust means that there is also potential for them to act as intermediaries for insurance and assistance products. Not only do these include forms of insurance that are linked naturally to their core service, such as bill payment, mobile gadget and mobile phone insurance, but also mainstream types of life and non-life cover. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 4
  5. 5. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What methodology has been used? In order to gather the data and insights contained in this report, Finaccord employed two main research methodologies as follows: direct contact with the main international offices of the 65 mobile operator groups in question, typically with press or investor relations departments, to ask them about their current and future strategies in financial services; direct contact with the national offices and retail networks of the 255 mobile operator brands in question, to audit the exact financial products and services offered and the financial and / or technology partners with which these have been developed, where not managed internally. The first wave of research represents the main input into the chapter providing a strategic analysis of the involvement in financial services of the worlds 65 leading mobile operator groups while the second underpins the chapter analysing the activity of the 255 brands on a product-by-product basis. In both cases, Finaccord sent its eventual findings to be checked by the mobile operator group and brand representatives with amendments made to the data in line with any feedback received. The 65 mobile operator groups covered are shown overleaf with a summary of the breakdown of the 255 mobile operator brands covered by region and group illustrated on the following page. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 5
  6. 6. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance Which mobile operator groups are covered within the strategic analysis? Aircel China Unicom LIME Qtel Telekom Austria AIS Chungwa Telecom Maxis Communications Reliance Communications Telenor Algérie Télécom Deutsche Telekom MegaFon Rogers Communication TeliaSonera América Móvil Digicel MetroPCS Saudi Telecom Company Telkomsel AT&T Mobility Etisalat Millicom Singtel Telstra Avea Globacom Mobily SK Telecom True Move Axiata Group Berhad Hutchison Whampoa MTN Smart Communications Turkcell Bakrie Telecom Idea Cellular MTS SoftBank Verizon Wireless Bharti Airtel Indosat NTT DOCOMO Sprint Viettel Mobile Bouygues Telecom KDDI Oi Tata Teleservices VimpelCom BSNL KPN Orange Tele2 Vinaphone China Mobile KT Orascom Telecom Telecom Italia Vivendi China Telecom LGU+ Polkomtel Telefónica Vodafone Note – a full list of the 255 mobile operator brands can be seen in the table of contents for this report which can also be downloaded from Finaccords website. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 6
  7. 7. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance How do mobile operator brands covered break down by region and group? Group Number of mobile brand North America, 13 subsidiaries or affiliates E&S-E Europe, 33 included in the research Latin America, 27 Vodafone 23 Telefónica 14 France Télécom 12 N&C Europe, 35 Deutsche Telekom 10 América Móvil 8 Hutchison Whampoa 8 Telenor 8 TeliaSonera 7 Asia Pacific, 69 Etisalat 6 Qtel 6 S&W Europe, 28 Bharti Airtel 5 Singapore Telecommunications 5 Telekom Austria 5 VimpelCom 5 Africa & Middle East, 50 Note - over 300 groups with a controlling or significant equity stak e in one or more of the 255 mobile brands are covered Source: PartnerBASE in total. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 7
  8. 8. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What is the report structure? 0. Executive Summary: providing a concise evaluation of the principal findings of the report. 1. Introduction: offering rationale, description of methodology and some definitions. 2. Group Strategy Analysis: comprising a summary of the strategies in payments, banking, insurance and assistance of the worlds leading 65 mobile telecoms groups by number of subscribers. This section highlights the main strategic moves made by these groups in each of mobile payments, mobile banking and insurance / assistance; in doing so, it covers significant joint ventures created by these groups (e.g. Isis, Jibun Bank, mpass, Wanda) and identifies external financial, payment and technology organisations that are engaging with these groups at a strategic level (e.g. Assurant, Gemalto, Google, Western Union). 3. Brand Analysis: analyses and commentary regarding the provision of the various payment, banking, insurance and assistance products covered by the 255 mobile operator brands researched. This includes both the unweighted and weighted provision rates for each product; any regional variations in the provision rates for each product; where relevant, the degree to which mobile payment products were found to operate on an international (rather than a purely domestic) basis; and the weighted competitor shares of partnerships for each product, quantifying which providers (and, where relevant, payment networks) are playing a leading role in these areas. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 8
  9. 9. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What are the key features of the research? Key features of this research include: • an overview of strategic initiatives in mobile financial services that are being driven by telecoms companies at a centralised group level as opposed to the national level; • coverage of over 25 distinct financial product and service categories including contactless merchant payments, four other types of mobile payment, mobile phone and gadget insurance, and various forms of assistance (e.g. home, legal, medical, road); • assessment of the degree to which 255 mobile operator brands offer these financial products and services and how the provision rates vary across seven global regions; • identification of the many banking institutions, payment companies, technology firms, insurance providers and assistance entities used in this context by these mobile operator brands and analysis of the partnerships that offer most potential given each brands number of customers; • availability of an accompanying interactive PartnerBASE database that details over 800 distinct product initiatives and that is fully customisable, searchable and filterable, enabling provision and distribution patterns to be explored across multiple brands, parent groups and geographical regions. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 9
  10. 10. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance How can the research be used? You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of the following ways: • gain access to a succinct yet thorough summary of the strategic approach to mobile financial services of 65 of the worlds most important mobile telecoms groups – how does your organisation seem to be positioned relative to its rivals? • understand the current worldwide picture across all types of financial product and service from which mobile operators can realistically generate revenues, and how this varies across seven global regions; • appreciate which banking institutions, payment companies, technology firms, insurance providers and assistance entities have been successful in establishing partnerships either at either a group or national level with mobile operators; • use the interactive PartnerBASE database to drill down to the full details – see which payment, banking, insurance and assistance services are offered by which mobile operator brands in which countries and with which product providers they co-operate in this context. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 10
  11. 11. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance How can the interactive PartnerBASE™ be used? Filter by brand Identify partners Number of Product Domestic only / Intl Name(s) of Owner(s) ofCountry Name of brand subscribers Product type Operating model Name(s) of payment network(s) offered? and domestic partner(s) partner(s) (million)Japan SoftBank Mobile 28.9 Contactless merchant payments Yes Domestic only Internal FelicaJapan SoftBank Mobile 28.9 Payments via bank card / account Yes Domestic only External partner Credit Saison Credit SaisonJapan SoftBank Mobile 28.9 Payments via phone bill No n/aJapan SoftBank Mobile 28.9 Payments via network account Yes Domestic only External partner Credit Saison Credit SaisonJapan SoftBank Mobile 28.9 Talktime / call credit transfer No n/aJapan SoftBank Mobile 28.9 Mobile banking (bank current accounts) No n/aJapan SoftBank Mobile 28.9 Credit card (non-virtual) Yes n/a External partner Credit Saison Credit Saison American Express, Credit Saison, JCB, MasterCard, VisaJapan SoftBank Mobile 28.9 Prepaid card (non-virtual) No n/aJapan SoftBank Mobile 28.9 Consumer finance / micro-credits Yes n/a External partner Credit Saison Credit SaisonJapan SoftBank Mobile 28.9 Miscellaneous payments / banking No n/aJapan SoftBank Mobile 28.9 Mobile phone insurance No n/aJapan SoftBank Mobile 28.9 Mobile gadget insurance No n/aJapan SoftBank Mobile 28.9 Bill payment protection insurance No n/aJapan SoftBank Mobile 28.9 Identity protection insurance / assistance No n/aJapan SoftBank Mobile 28.9 Motor insurance No n/aJapan SoftBank Mobile 28.9 Household insurance No n/aJapan SoftBank Mobile 28.9 Travel insurance / assistance Yes n/a External partner Sompo Japan NKSJ HoldingsJapan SoftBank Mobile 28.9 Accident insurance Yes n/a External partner Sompo Japan NKSJ HoldingsJapan SoftBank Mobile 28.9 Health insurance No n/aJapan SoftBank Mobile 28.9 Life insurance No n/aJapan SoftBank Mobile 28.9 Home assistance No n/aJapan SoftBank Mobile 28.9 Legal assistance No n/aJapan SoftBank Mobile 28.9 Medical assistance No n/aJapan SoftBank Mobile 28.9 Road assistance No n/aJapan SoftBank Mobile 28.9 Miscellaneous insurance / assistance Yes n/a External partner Sompo Japan NKSJ Holdings Select country Choose product See operating model Expertise in financial services © Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 11
  12. 12. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance Who can use the research? 1. Mobile telecoms groups: this research will benchmark the activity in payments, banking, insurance and assistance of your direct competitors and other comparators across major countries around the world with regional coverage of Africa, Asia Pacific (including Australasia), Europe, the Middle East, Latin America and North America; 2. Banks, insurance providers and assistance firms: as a consequence of their sheer size, their on-going relationships with customers and the increasing functionality of the mobile devices used by those customers, strategic partnerships with mobile operators represent a major opportunity for financial services institutions; 3. Payment and other financial technology companies: it is often the case for mobile operators that opportunities in mobile payments, in particular, can only be realised through collaboration with payment or other financial technology companies, especially as they seek to add international functionality to their initiatives in this arena; 4. Management consultancies: if you are helping a financial institution or technology company with its strategy in relation to mobile operators or advising a mobile operator how it can make money from financial services, then this research will explain the global activity of mobile operator brands and groups in financial services, saving time and effort on researching the subject yourself. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 12
  13. 13. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What are some of the key findings? 1. Provision rates through mobile operator brands vary across the different payment, banking, insurance and assistance services analysed Contactless merchant payments 13.7% Payments via phone bill 22.7% Payments via network account 22.4% Talktime / call credit transfer 61.2% Mobile banking (bank current accounts) 27.1% Credit card (non-virtual) 23.5% Mobile phone insurance 36.1% Mobile gadget insurance 13.3% Travel insurance / assistance 9.4% Accident insurance 8.6% Medical assistance 10.2% Road assistance 7.5% 0% 20% 40% 60% 80% 100% Note – the chart above shows provision rates across 12 services; the full report covers 25 distinct types of financial service in total Source: Finaccord PartnerBASE for Global Mobile Operators Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 13
  14. 14. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What are some of the key findings? (cont.) 2. Mobile operator brands are utilising a broad array of operating models to develop payment and banking propositions, including joint ventures that they own in conjunction with other entities Contactless merchant payments Payments via bank card / account Payments via phone bill External partner Payments via network account Multiple external partners Captive partner Talktime / call credit transfer Joint venture partner Mobile banking (bank current accounts) Internal Credit card (non-virtual) Other Prepaid card (non-virtual) Undisclosed Consumer finance / micro-credits . Miscellaneous payments / banking 0% 20% 40% 60% 80% 100% Source: Finaccord PartnerBASE for Global Mobile Operators Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 14
  15. 15. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What are some of the key findings? (cont.)3. On a worldwide basis and adjusted in line with the total number of customers of their mobile brand partners, the top eight providers of mobile phone insurance have a share of relationships of 58.0% Asurion, 17.5% other, 42.0% ACE, 9.3% Liberty Mutual, 7.3% Marsh, 6.2% Patrimonial Inbursa, Zurich, 5.4% Mega Assurant, 3.4% Corretora de 5.1% Seguros, 3.7% Source: Finaccord PartnerBASE for Global Mobile Operators Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 15
  16. 16. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What are some of the key findings? (cont.) 4. Key findings from the executive summary include: • 51 of the 65 major telecoms groups researched by Finaccord were found to have one or more strategic initiatives in mobile payments, with a further eight groups reporting that they had concrete plans for the introduction of group ventures in mobile payments in the near future; • globally, only 13.7% of the 255 brands researched have a scheme for contactless mobile payments, although this figure is significantly higher in North America, where 30.8% of brands offer this option; • the ability to make cross-border payments and transfers is most common in respect of talktime / call credit transfer schemes, of which 32.1% reported having international functionality; • with regards to conventional banking products, co-branded credit cards and prepaid cards are available in conjunction with 23.5% and 8.6% of all brands respectively; • mobile phone cover is the most commonly offered type of insurance and assistance product, and is available from 36.1% of brands, with mobile gadget cover being available from 13.3%. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 16
  17. 17. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance What is the cost and format? Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance is available as a standard Adobe Acrobat PDF document and / or hard copy. The interactive PartnerBASE™ that accompanies it at no further charge is in Microsoft Excel format. Costs for this research set, sister studies on the same subject and other related titles available at the time of publication are as follows: REPORT PRICE * Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance GBP 2,995 Global Mobile Operators: Strategies in Insurance and Assistance GBP 1,995 Global Mobile Operators: Strategies in Payments and Banking GBP 1,995 Global Automotive Clubs: Affinity Marketing Opportunities for Financial Services Institutions and Other Organisations GBP 1,995 Global Coalition Loyalty Programs: Affinity Marketing Opportunities for Financial Services Institutions and Other Orgs. GBP 1,995 Global Retailer Cards: Co-Branded, Loyalty and Private Label Programs GBP 3,995 Global Retailer Insurance: Affinity Schemes in Supermarkets and Other Stores GBP 2,495 Payment Metrics: Consumer Attitudes towards and Usage of Traditional and Emerging Means of Payment in the UK GBP 1,995 For UK-based clients, VAT at the prevailing rate will be added to the basic price. Costs quoted are for a single site user licence only. For a corporate user licence, please see the next slide for further details. Invoices can be paid in EUR, at the prevailing exchange rate, if preferred. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 17
  18. 18. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance How can the research be purchased? Simple. Just go to the relevant area of the Finaccord web site available at www.finaccord.com/order_global_apmr.htm and fill in the online order form, clearly indicating: • report required • type of corporate user licence, if required * • billing name • address and e-mail address • purchase order number, if applicable Please allow up to one working day for the delivery of electronic copy by e-mail. * For the corporate user licence please choose one of the following options: 1. One office, one country: no supplement over and above basic cost of reports ordered 2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered 3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered 4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered VAT at the prevailing rate will be added to the price of any corporate user licence acquired by UK-based buyers. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 18
  19. 19. Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance Definitions of mobile payment products and services covered As evidenced by this research, the broad field of mobile payments is one in which there is very significant activity on the part of the mobile operator groups and brands investigated. However, it is actually the case that there are several different types of mobile payment and Finaccord has defined them in this study within five categories as detailed below. Contactless merchant payments: By means of one or more partnerships established with one or more specific banks and / or payment networks (e.g. American Express, MasterCard, Visa) and / or payment technology companies, the ability of a customer to pay for goods or services (usually with a relatively low value) by holding an enabled mobile handset close to a payment terminal with contactless functionality (e.g. using NFC or RFID technology). Payments via bank card / account: Payments are taken from a bank card or bank account that has previously been linked to the mobile phone number. This can be direct, where the receiving party takes the card details, or indirect, where the phone network guards the card number, in the manner of PayPal. Payments via phone bill: Payments are billed to the user through their phone bill (either for prepaid or contract customers). This is typically limited to lower value transactions, and can include goods and services as well as online content; it excludes transfers to other mobile phones. These payments are made without the use of a bank or payment network. Note that the purchasing of purely phone-related media such as ringtones, wallpapers, screensavers and games – whether these be from the network itself or from a third party – are not to be included here; these relatively minor (and well-established) purchases are excluded from the scope of this report. Payments via network account: Payments are made from a separate account opened by the customer with the mobile phone network. Typically these can have extra cash added to them through local dealers or retailers, payments can be made to companies or private individuals, the user can receive payments as well and withdraw cash from local dealers or retailers. These accounts can be run by the phone network on its own, and / or with a technology partner and / or with a bank or payment network. Examples include Orange Money, Airtel Money and M-PESA. Talktime / call credit transfer: A user can send talktime or call credits to another users mobile phone number. These credits must be used for calls and texts, rather than being used to fund general purchases or being withdrawn as cash. For the person sending the credits, the amount may be either immediately deducted from their prepaid account, or added to their monthly bill, as appropriate. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 19
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