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Mobile Money Business Track: understanding the Model and Market
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Mobile Money Business Track: understanding the Model and Market

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Left without intervention, mobile money transfers of various forms will continue to proliferate, and product innovation will continue, albeit at different rates and in different directions around the ...

Left without intervention, mobile money transfers of various forms will continue to proliferate, and product innovation will continue, albeit at different rates and in different directions around the world. Global interoperability, however, would offer significant value to customers and ensure the mobile ecosystem delivers value and scale into this service.

This course will describe by placing mobile operators at the heart of remittances, Mobile Money Transfer has the potential to catalyze the whole mobile financial services market, incorporating mobile payments, mobile banking and mobile transfers.


Mobile Money Business Track: understanding the Model and Market (1 day)
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Accessing Pay Buy Mobile Model
- NFC M-Payment services
- Proposition
- Ecosystem and Value chain
- Pay-Buy-Mobile Business Models
- Mobile NFC Technical Guidelines

Accessing Mobile Money Transfer
- Introduction to the Remittance Market
- The Opportunity for Mobile in Money Transfer
- Mobile Money Transfer as a Mobile Financial Services Market Catalyst
- Mobile Banking Vendor Analysis

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Mobile Money Business Track: understanding the Model and Market Mobile Money Business Track: understanding the Model and Market Presentation Transcript

  • by: Arief Hamdani Gunawan
  • Agenda
    • Accessing Pay Buy Mobile Model
    • NFC M-Payment services
    • Proposition
    • Ecosystem and Value chain
    • Pay-Buy-Mobile Business Models
    • Mobile NFC Technical Guidelines
    • The UICC to NFC Chip interface (Host Controller Interface [HCI])
    • UICC Run-Time Environment
    • Over-The-Air (OTA) Provisioning
    • Mobile NFC Device Security
    • Accessing Mobile Money Transfer
    • Introduction to the Remittance Market
    • The Opportunity for Mobile in Money Transfer
    • Mobile Money Transfer as a Mobile Financial Services Market Catalyst
    • Mobile Banking Vendor Analysis
  • Pay-Buy-Mobile
    • is a Mobile Network Operator (MNO)-led,
    • GSMA initiative,
    • for using mobile phones
    • to make fast,
    • secure payments
    • in a retail environment
    • using Near Field Communications (NFC)/
    • contactless technology.
  • UICC
    • The secure element recommended by the GSMA for the payment application in the mobile phone is the Universal Integrated Circuit Card (UICC), commonly known as the SIM card.
    • The UICC can be divided into security domains thus allowing third-party service providers the ability to manage and operate the services independent of the MNO.
    • The UICC securely stores the subscriber identity.
    • UICCs have rapidly become ever more sophisticated, containing enhanced processing power, much increased memory and extended security management functionality.
    • The UICC offers an ideal environment, therefore, into which the Pay-Buy-Mobile application could be installed.
    • Let’s focuses on credit and debit card applications hosted on the UICC in the mobile phone.
  • Pay-Buy-Mobile initiative
    • 34 of the world’s largest MNOs (KTF, AT&T, China Mobile Communications Corporation, Chunghwa Telecom, Far EasTone, Kall, KPN, Maxis, MCI, Meteor, Mobilkom Austria, Mobitel d.d., MTN, NTT DoCoMo, O2, Orange, Pelephone, Partner/Orange, Rogers, SFR, Singtel, SK Telecom, SMART, Softbank, Starhub, Telenor, TeliaSonera, Telecom Italia, Telstra, Turkcell, Vimpelcom, Vodafone, Wind) serving more than 1.3 billion customers have been working together on the Pay- Buy-Mobile initiative, to create and define a global approach to enable NFC payment services on mobile phones.
    • Furthermore, the initiative aims to provide a common MNO viewpoint, which is key to enabling the development of a new market and to prevent market fragmentation.
    • With the completion of the required standards anticipated in 2007 and the availability of UICC based NFC-enabled handsets in 2008, it is expected that NFC M-Payment services will start to be realized in several regions around the globe in the 2008 timeframe.
  • Trusted Service Manager (TSM)
    • A new role of Trusted Service Manager (TSM) is introduced to the Pay-Buy-Mobile ecosystem as a link between the Card Issuing Bank (CIB) and the MNO.
    • It not only links a single CIB and a single MNO, but should be an integrated point of linkage between multiple CIBs and multiple MNOs.
    • Depending on the placement of this role, various types of Pay-Buy-Mobile business models are possible.
  • Contactless smart card technology
    • Contactless smart card technology is typically used in transport and building access applications, as well as holding medical data.
    • Several varieties of contactless technology exist today: of most interest to Mobile Network Operators and to third party service providers is Near Field Communication (NFC) technology.
    • NFC is designed to operate over very short distances, typically less than 4 cm, and is foreseen as a strong enabler to meet new customer needs for emerging services and drive value-added business models.
    • Contactless technology provides an intuitive and easy method for users to access services, as demonstrated by the rapid deployment of contactless public transport systems globally with many users.
    • The technology has also been identified as a key sector for payment solutions, with the financial industry actively driving forward contactless payment.
  • Mobile NFC
    • Mobile NFC, the combination of contactless services based on NFC technology with mobile telephony including a hardware-based secure identity token (the UICC), offers substantial advantages over basic contactless smart card technology, including:
      • peer-to-peer communications;
      • high-speed two-way communications; and
      • access to facilities on the mobile phone, such as the screen, communications link, keyboard, memory and processing power.
    • This opens up the possibility of more complex and interactive applications, as well as the ability to modify applications on the phone via the communications link, for example, to download software or disable functionality.
  • NFC M-Payment services
    • Among a wide range of contactless services, NFC M-Payment services are the most eagerly anticipated.
      • Customer feedback from usage of contactless mobile payment services, and trials and surveys conducted throughout the world, show that there is a strong desire for mobile phone users to enhance the capabilities of their mobile phone to perform more than just voice/multi-media communication.
      • MasterCard found that ‘…more than 25% of participants who used their PayPass card 2 to 3 times a month prior to the trial program increased their frequency of usage to more than 3 times a month after experiencing MasterCard Mobile with PayPass’1.
      • According to contactless card trials carried out by Visa, merchants have seen an increase in spending, and customers on the trials enjoyed the speed and convenience of not having to sign for purchases and to simply swipe their phone to make their purchase.
  • Trial and Research
    • Several recent trials around the world show early signs of the success of mobile NFC payments services and rapid customer take-up for services similar to NFC M-Payment, for example:
      • Netherlands (Amsterdam) – Including: KPN, JCB, Nokia – mobile payment trial started Q4 2006
      • SFR/MC/Credit Mutuel, including also Sagem, LG, Gemalto, Inside Contactless and Sagem Monetel. Face-to-face payment at several selected point of sales (>70), ranging from small shops to supermarkets. Already 100 customers are using Sagem phones (MY 700X contactless) with 200 more to join for a second phase beginning June 12th with LG phone (L600V contactless). Forecasted duration: February 2007 to October 2007
      • Austria (Hagenberg/Upper Austria) - NFC trials including Mobilkom Austria, the University of Applied Science Of Hagenberg, Voestalpine and NXP. Campus access, payment at canteens and vending machines, peer-to-peer information services - November 2006 to June 2007
  • Trial and Research
      • USA (Atlanta, Georgia) – First North American NFC mobile phone payment trial by Cingular Wireless (AT&T) involving Nokia, Chase bank, ViVotech, Visa USA and the Atlanta Philips Arena; Dec 2005 to Sept 2006
      • Korea: Integrated Circuit (IC)-Card type: Contactless “IC-Card” M-Payment service involving KTF, SKT, Samsung Card and MasterCard was commercially launched in March 2006. The IC-Card service was further extended to other local SPs including ShinHan Card, KB Card and Hyundai Card based on Visa payWave UICC type: SKT (May 2007) and KTF (June 2007) with LG Card and Visa commercially launched contactless UICC-based M-payment services using Over-The-Air (OTA) download of credit card account information onto user’s UICC in the handset
    • These trials have concluded that there is great customer demand and anticipation of NFC MPayment services and that the technology can meet the high expectations of customers for simplicity and convenience.
    • The technology is quickly understood and its usage readily adopted by the customer. The trials even suggest that a higher volume of ‘impulse’ transactions will be encouraged.
  • Pay-Buy-Mobile customer experience
  • Pay-Buy-Mobile customer experience
    • A customer can request his/her mobile phone be enabled by a variety of methods including the Internet, call centre or directly with their CIB.
    • He/she enters a shop with the phone that has subsequently had its UICC provisioned with a multiple set of Pay-Buy-Mobile applications corresponding to different CIBs.
    • After the goods/products are selected, the customer goes to the checkout counter to pay.
    • The customer takes his/her mobile phone, selects the appropriate application (if multi-equipped) and “touches” it against the POS-terminal.
    • He/she may then be required to enter their PIN (either into the phone or the POS terminal), and potentially touch it a second time against the terminal. The infrastructure completes the transaction, largely using existing contactless infrastructure and transaction processes, and once it is complete, if applicable, other transactions (like loyalty points) are processed.
    • The details of the transaction process will vary from implementation to implementation.
  • POS
    • POS (or PoS) is an abbreviation for point of sale (or point-of-sale, or point of service).
    • This can mean a retail shop, a checkout counter in a shop, or a variable location where a transaction occurs in this type of environment.
    • Additionally, point of sale sometimes refers to the electronic cash register system being used in an establishment.
    • Point of sale systems are used in restaurants, hotels, stadiums, casinos, as well as retail environments – in short, if something can be sold, it can be sold where a point of sale system is in use.
  • UICC Solution (1/2)
    • UICCs have become ever more sophisticated, containing enhanced processing power, much increased memory and extended security management functionality.
    • The UICC offers an ideal environment, therefore, into which the Pay-Buy-Mobile application could be installed.
    • MNOs promote and recommend the UICC as the most appropriate Pay-Buy-Mobile Secure Element (SE) in mobile phones, because it offers many unique advantages for the customer, including:
      • Security: the UICC is a tamper resistant secure element that conforms to industry security standards including the latest Global Platform security specifications.
      • Universal deployment: universally available in subscribers’ mobile phones, as standard.
  • UICC Solution (2/2)
      • Portability: allowing customers to transfer their service settings between mobile phone because it is configured on the UICC/SIM.
      • Remote management: allowing the applications and data on the UICC to be modified over the air cost effectively and accelerated responsiveness.
      • Standards based solution: the UICC solution is based on internationally agreed specifications including those from the ETSI Smart Card Platform (ETSI-SCP) and the Global Platform standard.
      • Long operational lifecycle: UICC designs change slowly, on a much longer timescale than mobile phones, which can be replaced in as short as one year. The UICC will therefore be compatible with future phones for some time, thereby reducing operational and replacement costs.
  • UICC Security Domains
    • Advancements in Integrated Chip (IC) technology permit the partitioning of the UICC into several security domains (SD).
    • The SD structure is emerging as a solution to provide a secure environment for hosting applications provided by multiple 3rd parties, e.g. various CIBs, where the UICC space is securely shared between them.
    • This allows the UICC owner: the MNO, as well as 3rd parties such as Card Issuing Banks, to maintain the needed confidentiality of their data and applications and protect them from access by other 3rd parties.
    • This SD concept allows the MNO’s (U)SIM application to reside in parallel with different CIB applications on one UICC.
    • Each application is stored in its own SD, with neither the MNO nor the CIBs having the possibility to access each other’s application and data.
  • UICC Security Domains
  • Issuer Security Domain (ISD)
    • The Issuer Security Domain (ISD) is the first application installed on a UICC, and establishes supplementary security domains for service providers.
    • It is assumed that the keys to each SD will be forwarded to the 3rd parties (i.e. TSMs or CIBs respectively) and can then be subsequently reset by the 3rd party to establish privacy.
    • The specific implementation of the SD model is likely to vary on a country-by-country/regional basis, depending upon national market circumstances and requirements.
  • Customer offering
    • Pay-Buy-Mobile will offer customers:
    • Ease of use: brought about by a straightforward user interface;
    • Portability of the Contactless Applications: ensuring continuity of service when Customers’ make handset changes;
    • Global use – wide acceptance: large numbers of merchants/locations need to be equipped.
    • Interoperability with contactless smart card POS terminals will facilitate the rapid roll out of Pay-Buy-Mobile;
    • Multi-applications: ability to support several payment applications, delivered by multiple banks and/or payment solutions companies (Visa, MasterCard, JCB etc.);
    • Security: based on the secure functionality contained in the UICC, augmented by the potential for OTA service disablement.
  • Business drivers (1/3)
    • The main business drivers for Pay-Buy-Mobile are:
    • Speed and convenience leading to higher transaction volumes: Pay-Buy-Mobile offers a quick and convenient method of paying for goods and service, and gives customers an opportunity to replace cash.
      • Research has suggested that the convenience of this new payment form factor will actually stimulate additional revenues, particularly low-value transactions.
    • Differentiation: Pay-Buy-Mobile will offer banks the opportunity to differentiate their product through early adoption of the technology and the ability to offer new value-added services.
      • Pay-Buy-Mobile will provide a new, bank-branded payment form factor combining mobile specific characteristics (online device, keypad, display) with a whole new range of banking services (eg overview of last transactions, alerts, remote blocking on request), able to co-exist with traditional payment form factors, such as credit and debit cards, online banking and cash.
  • Business drivers (2/3)
    • Access to customers: Pay-Buy-Mobile will offer participating CIBs access to the MNO’s customers, as well as improving revenue growth and retention rates.
    • Cost of management: The life-cycle management cost of operating Pay-Buy-Mobile will, potentially, be less than the operating cost of payment cards in the long term.
    • Leverage contactless infrastructure investment: Pay-Buy-Mobile will give the banks a further opportunity to utilize the installed contactless infrastructure in the form of this additional traffic.
    • Risk management: Credit and debit cards on a UICC can be disabled almost immediately over the network.
      • This will limit fraudulent usage of payment applications within stolen mobile telephones.
  • Business drivers (3/3)
    • Reduced service delivery time: the delivery time of the capability to the customer’s phone can be reduced to a few minutes (via OTA) compared to traditional delivery methods.
      • Furthermore, when the capability needs to be re-provisioned (e.g. when a mobile telephone has been reported stolen), this can also be achieved in minutes, thereby providing significant customer value.
    • UICC-based applications: the UICC/SIM is a standard, ubiquitous element of most mobile phones.
      • MNOs (and/or TSMs) will benefit from the opportunity to lease space on the UICC to the banks and other service providers, in return for operation of the underlying infrastructure: OTA transfer of applications and personalisation data; security management; and mobile customer service.
    • NFC technology: mobile NFC furthers access to customers by allowing new types of services to be offered, leveraging the phone’s User Interface i.e. screen and keypad: a real highway to innovation.
    • Additional value can be created by an initiative such as the Pay-Buy-Mobile scheme, and so the Banks and MNOs have a mutual interest to maximize the value created, thereby building a longterm, win-win relationship.
  • Creation of New Pay-Buy-Mobile value
  • Key success factors (1/3)
    • In order for Pay-Buy-Mobile to be successful the following factors need to be addressed:
    • Value for all ecosystem members: Pay-Buy-Mobile will be successful provided that the ecosystem is steady, provides value for all members, and is efficient. The ecosystem’s efficiency will be enhanced by the introduction of a new role, the Trusted Service Manager.
    • Large customer base: Pay-Buy-Mobile will only take off if Banks are able to reach a large customer base.
    • Customer trust: will be built on the existing relationships between a client and his bank (payment) and a client and his MNO (mobile services).
  • Key success factors (2/3)
    • Avoid fragmentation: differing and incompatible technical solutions would lead to fragmentation, and so there is a need to ensure as much commonality between implementations whilst, after the universal credit card service, allow the banking industry to continue to make individual commercial decisions. Therefore:
      • Inter-operability: appropriate standardization is essential in order to provide convenient and cost-effective mobile NFC services, thereby achieving economy of scale and global interoperability. The Pay-Buy-Mobile applications and hardware need, therefore, to be standardized to ensure that, wherever possible, they are able to function anywhere around the world.
      • Backwards compatibility: the technical solution proposed by the MNO community is predicated on using the existing contactless infrastructure in the merchants’ premises, which should minimize changes to the systems.
  • Key success factors (3/3)
    • Partnership: Cooperation between all ecosystem entities (e.g. Banks, MNOs, Trusted Services Managers and manufacturers etc) will be essential for the success of Pay-Buy-Mobile.
      • Pay-Buy-Mobile will generate new business opportunities and value, and does not challenge existing card transactions business.
    • Certification: the Pay-Buy-Mobile technical solution has been carefully designed to satisfy all of the known requirements of the financial services industry.
      • Banks, and MNOs, payment scheme companies and vendors need to work together to build trust in the solution and achieve certification of the solution, where required, to allow use as a live service, and ensure that the UICC solution can be demonstrated to have security comparable to existing payment card products.
  • Roadmap (1/2)
    • The roadmap for the introduction and implementation of Pay-Buy-Mobile will depend on the following factors:
    • Introduction of contactless payment services by the payment solutions companies.
    • Adoption and infrastructure roll out of contactless payment by the merchant community.
    • Acceptance of contactless payment by the mobile subscribers.
    • The completion of the required standards needed to support NFC M-Payment services (2007-2008).
    • The availability of UICC–based NFC-enabled mobile phones. Manufacturers plan to provide production version phones in 2008/2009.
  • Roadmap (2/2)
    • Several of the mobile phone manufacturers are currently providing prototype NFC-enabled mobile phones for trials by mobile operators with plans to provide commercial versions of the phones in 2008.
    • With the completion of the required standards anticipated in 2007 and the availability of UICC–based NFC-enabled handsets in 2008, it is expected that Pay-Buy-Mobile services will start to be realized in several regions around the globe in the 2008 timeframe.
  • Technical Ecosystem
  • (Business) Ecosystem
    • The Pay-Buy-Mobile ecosystem builds on the traditional payment infrastructure with an expanded value chain incorporating the following players:
    • Customer
    • Merchant
    • Acquirer
    • Card Issuing Bank (CIB)
    • Payment solution company
    • Mobile Network Operator
    • Trusted Service Manager
    • Mobile Handset Manufacturer
    • UICC Manufacturer
    • Terminal/Reader Manufacturer
    • NFC chip manufacturer
    • IC chip manufacturer
  • Existing credit card ecosystem
  • Pay-Buy-Mobile ecosystem
  • Customer
    • The Pay-Buy-Mobile customer is required to be a subscriber of a mobile network operator.
    • The customer is required to have an NFC-enabled mobile phone with a compliant UICC smart card provided by the mobile network operator.
    • The customer enters into a service agreement with a CIB for the NFC M-Payment service.
  • Merchant
    • The merchant is the provider of the goods and services being purchased by the customer at the point of sale (POS) terminal.
    • The merchant has a contract with a merchant acquirer that allows the merchant to accept credit and debit payments which are then processed over the appropriate payment processing network.
    • The merchant needs to be equipped with a contactless POS terminal based on the ISO 14443 standard in order to enable Pay-Buy-Mobile.
  • Acquirer
    • The acquirer maintains the merchant account that permits the merchant to accept credit and debit transactions.
    • The acquirer also provides the interface to the processing network for the authorization and clearing of the merchant’s transactions.
    • The functions provided by the acquirer remains the same in the new Pay-Buy-Mobile ecosystem.
  • Card Issuing Bank
    • The Card Issuing Bank (CIB) provides the overall payment service and is responsible for the associated customer care.
    • The CIB is responsible for the issuing of the payment application and the customer’s personalization data.
    • The CIB is also responsible for establishing the formal agreement with the customer for the payment service, which occurs prior to the provisioning of the application on the UICC.
  • Payment solutions company
    • The payment solutions companies (such as Visa, MasterCard, American Express, China UnionPay, JCB, etc) maintain their payment networks, and provide other services to its banks such as approval and certification, as well as defining its own brand requirements for different payment form factors.
    • They also define payment specifications and provide transaction processing services to support them.
    • To support Pay-Buy-Mobile, no significant change is anticipated to these payment networks or other national payment networks.
  • Mobile Network Operator
    • The mobile network operator (MNO) is a key addition to the ecosystem and is required to enable Pay-Buy-Mobile.
    • The role of the MNO is to:
    • Provide and maintain the network infrastructure that enables the secure OTA delivery and maintenance of the payment application to the UICC smart card.
    • Provide the Security Domain for the payment application on the UICC, which is then controlled by the TSM or CIB
    • Provide the customer, when required, with NFC-enabled handsets and the required UICC smart card.
    • Provide mobile services customer care.
    • The MNO brings the assets of a mobile customer base, smart card and network infrastructure to the relationship.
  • Trusted Service Manager
    • The Trusted Service Manager (TSM) is one of the new additions to the payment industry.
    • This entity is primarily responsible for securely distributing, provisioning and life-cycle management of the Pay-Buy-Mobile application and other NFC services to the mobile network operators’ subscriber base on behalf of the service providers.
    • The TSM will have business relationships with both the mobile network operators and the service providers.
  • Terminal/Reader Manufacturer
    • The role of the terminal/reader manufacturer is to provide NFC-enabled POS terminals/readers to the merchants and acquirers.
    • These will be the same POS terminals used for contactless payment transactions with contactless payment cards.
  • UICC Manufacturer
    • Every GSM/3G mobile network operator has a business relationship with one or more UICC manufacturers.
    • The UICC manufacturer is contracted to provide the mobile operator with the required UICC cards.
    • The Pay-Buy-Mobile application is typically designed to operate on a specific type of UICC smart card sold by the card manufacturer.
    • The UICC will be provisioned with one or more security domains, which will be managed by the TSM, CIBs and other service providers.
    • The UICC manufacturer will have a direct relationship with the mobile network operator, which will define the requirements for the UICCs.
  • IC chip manufacturer
    • The manufacturers of chips used in EMV credit and debit cards are typically the same as those supplying the UICC manufacturers for the mobile industry, providing valuable cross-sector expertise.
    • EMV is a standard for interoperation of IC cards (“Chip cards”) and IC capable POS terminals, for authenticating credit and debit card payments.
      • The name EMV comes from the initial letters of Europay, MasterCard and VISA, the three companies that originally cooperated to develop the standard. Europay International SA was absorbed into MasterCard in 2002. JCB (formerly Japan Credit Bureau) joined the organisation in December 2004. IC card systems based on EMV are being phased in across the world, under names such as “IC Credit” and “Chip and PIN”.
      • The EMV standard defines the interaction at the physical, electrical, data and application levels between IC cards and IC card processing devices for financial transactions. Portions of the standard are heavily based on the IC Chip card interface defined in ISO 7816.
  • Mobile Handset Manufacturer
    • The role of the mobile handset manufacturer is to provide standardized NFC-enabled handsets that incorporate the UICC as the secure element for NFC services.
    • The mobile handset manufacturer will have a direct relationship with the mobile network operator, which will define the requirements for the handsets.
    • It should be noted that, in the mobile payment value chain, none of the new players actually participate in the transaction processing, which remains the collective responsibility of the CIBs, the merchant acquirer and the payment network.
  • NFC chip manufacturer
    • The role of this value chain member is to supply the standards-conforming NFC chip to the handset manufacturer for integration with the handset.
  • Japan: NTT Docomo Osaifu Keitai
    • Mobile phones equipped with contactless IC card that can be utilized as electronic money, identity card, fare card for bus and train rides, credit card and loyalty card.
    • Launched in 2004 and now exceeded 30M subscribers as of Jul 2008. Accepted at over 640,000 stores
    • Reduce payment times for merchants and allow payments to link to value added services such as loyalty program and targeted marketing
  • Pay-Buy-Mobile value chain
  • Pay-Buy-Mobile Business Models
    • The TSM is introduced to the Pay-Buy-Mobile ecosystem as a link between the CIB and the MNO.
    • It not only links a single CIB and a single MNO, but should be an integrated point of linkage between multiple CIBs and multiple MNOs. Depending on the placement of this role, various types of Pay-Buy-Mobile business models are possible, to enable an efficient ecosystem.
  • Positioning of the TSM
  • TSM business models
    • Four principal TSM business models have been identified, namely:
      • The MNO-centric model – in which the MNO performs the TSM role
      • The Independent entity model – in which a trusted third party performs the TSM role
      • The CIB-centric model – in which the CIB performs the TSM role
      • The Combination model – a combination of two or three of the above models, depending on the domestic market environment
  • MNO-centric model
    • In this model, the MNO builds and integrates the TSM capabilities within its network infrastructure, offering a secure and open third-party interface to CIBs.
    • The MNO can provide the flexibility in customising service provisioning for NFC M-Payment services.
    • For example: The MNO can rapidly develop a user interface suitable for a mobile environment taking into consideration the financial service community’s requirements;
    • Seamless integration of the TSM functions with the MNO’s existing Business Support System (BSS).
    • In this model, MNOs would make an investment in the TSM infrastructure while CIBs provide the existing payment infrastructure to enable Pay-Buy-Mobile.
    • When compared with the other three models, the CIBs would need to make a relatively small investment in building the Pay-Buy-Mobile infrastructure while getting an opportunity to access the MNO customer base.
    • They will, however, have to integrate to each MNO in the market separately.
  • MNO-centric model
  • Independent Entity Model
    • In this model an independent entity (Trusted Third Party - TTP) performs the role of the TSM and acts as the single point of contact between the MNOs and the CIBs.
    • The TTP will perform the overall management of the different Security keys of each security domain on the UICC.
    • This model reduces the overall complexity for the TSM in the Pay-Buy-Mobile ecosystem by providing an integrated interface for MNOs and CIBs.
    • This model removes the need for either the MNOs or the CIBs to make an investment in the TSM infrastructure.
    • Adoption of the model is dependent upon maintaining the integrity and neutrality of the independent third entity, being trusted by both the MNOs and the financial institutions.
  • Independent Entity Model
  • CIB-Centric Model
    • In the CIB-centric model, the CIB acts as the TSM and integrates the participating MNOs in the market.
    • The CIB would need to bear all the associated investment in building TSM infrastructure.
    • For small-sized CIBs, this investment can be an entry barrier.
    • The MNOs will still provide UICC space to the CIBs in this model.
  • CIB-Centric Model
  • Combination Model
    • In this model, the role of the TSM can be played by any combination of MNO, CIB, and independent entity.
    • For example, the participating MNOs and the CIBs may jointly form a TSM to serve their customers. Investments are shared between the initial founders of the TSM.
    • After forming the TSM, new partners can join the consortium.
  • Combination Model
  • Agenda
    • Accessing Pay Buy Mobile Model
    • NFC M-Payment services
    • Proposition
    • Ecosystem and Value chain
    • Pay-Buy-Mobile Business Models
    • Mobile NFC Technical Guidelines
    • The UICC to NFC Chip interface (Host Controller Interface [HCI])
    • UICC Run-Time Environment
    • Over-The-Air (OTA) Provisioning
    • Mobile NFC Device Security
    • Accessing Mobile Money Transfer
    • Introduction to the Remittance Market
    • The Opportunity for Mobile in Money Transfer
    • Mobile Money Transfer as a Mobile Financial Services Market Catalyst
    • Mobile Banking Vendor Analysis
  • Mobile NFC Technical Guidelines
    • MNOs have performed an analysis of:
    • The UICC to NFC Chip interface (Host Controller Interface [HCI])
    • UICC Run-Time Environment
    • Over-The-Air (OTA) Provisioning
    • Mobile NFC Device Security
  • UICC to NFC Chip Interface (Host Controller Interface [HCI])
    • Support of contactless systems
    • It is recommended that the technical solution currently under review in the European Telecommunications Standards Institute Technical Committee Smart Card Platform (ETSI TC SCP) the reference of which is: "UICC-CLF interface: Host Controller Interface“ is adopted.
    • This technical solution is compatible with any standard system (i.e. system compliant with layers 2, 3 and 4 of ISO/14443 type A and type B).
    • This technical solution enables the support of proprietary protocols based on type B as well.
    • Secure Element (SE) selection
    • It is recommended that only one secure element is made visible to the contactless reader at any given time.
    • Furthermore, it is recommended that the SE selection is under the user’s control hence the SE selection has to be done manually by the user.
    • Compatibility between ETSI HCI specification and NFC-Forum HCI specification
    • It is highly recommended that the NFC Forum specification is defined in such a way that no compatibility issues arise when the NFC Forum specification is implemented in addition to the ETSI specification.
  • Selection of the secure element in a multiple SE architecture Security Domain On card entity providing support for the control, security and communication requirement of an off-card entity, supporting services such as key handling, encryption, decryption, digital signature generation and verification for their provider’s application.
  • Selection of the secure element in a multiple SE architecture
  • Selection of the secure element in a multiple SE architecture
  • UICC Run-Time Environment: UICC Environment (1/2)
    • Performance
    • Mobile NFC device manufacturers should comply with a maximum transaction time delay caused by introducing the mobile NFC device into the system. This maximum transaction time delay could be different for each contactless mode (Java Card mode, legacy mode, NFC peer-to-peer mode etc)
    • The development of a set of reference UICC Java Card applications to help certify and evaluate products
    • Define a reference reader. The control of reader sleep modes should be adapted to the polling loop algorithm in the mobile phone to reduce delay.
  • UICC Run-Time Environment: UICC Environment (2/2)
    • Memory management
    • It is recommended that the mechanisms defined in the Global Platform (GP) version 2.1 specifications for memory control during installation and resource allocation during runtime (quota) are adopted.
    • Multi-tasking .
    • The UICC shall support the concurrent execution of multiple applications (multi-tasking)
    • Multi-tasking should be pre-emptive.
    • Telecom applications (e.g. Universal Subscriber Identity Module [USIM]) must be handled with adequate priority
    • The Card Operating System (CardOS) shall be able to handle concurrent events on all available UICC interfaces
    • The CardOS shall support multiple logical channels on each interface.
  • UICC Run-Time Environment: Java Card Application Programmer Interface (API)
    • Although Java Card specification release 7 defines how a Java card applet can start a Java midlet in the mobile phone, this interface should be extended to include parameters for the Java midlet.
    • Furthermore, the mobile NFC device needs to ensure that it starts the application which the Java card applet intended to start so as to avoid “phishing” attacks.
    • Java Card applets should be able to access telecommunication network functions, such as:
      • Short Messaging Service (SMS)
      • Internet Protocol (IP)
      • Phone Calls
  • UICC environment
  • UICC environment
  • UICC Architecture
  • Mobile NFC device architecture overview
  • Over-the-air programming (OTA)
    • Mobile NFC technology is a key enabler of the solution: the OTA functionality offers valuable safeguards and important functionality; whilst the mobile platform is a ubiquitous device with local power, a screen, keyboard and local computational power.
    • Over-the-air programming (OTA) , also known as over-the-air service provisioning (OTASP), over-the-air provisioning (OTAP) or over-the-air parameter administration (OTAPA), is a method of distributing new software updates to handsets or provisioning handsets with the necessary settings with which to access services such as WAP or MMS. Some phones with this capability are labeled as being “OTA capable.”
  • Reference OTA Provisioning Architecture
  • Initialization Sequence Diagram
  • OTA NFC Service Delivery
  • Roles description
    • The split of two main set of functions (applet load/install/delete and applet lock/personalisation) between actors, depending on the model.
    • General assumptions are as follows:
    • The UICC contains an issuer security domain (ISD)
    • The UICC contains one additional SD per SP
    • The TSM does not by itself have an SD
    • The TSM may in some cases manage the keys for an SPs SD
    • There are other models possible, for instance where a TSM has an SD in its own right.
    • Such models are not considered further in this document, however, technically they are quite similar to the models that are considered.
  • OTA Functional Separation
  • The 4 Cases
    • Case 1 (SP#1 in diagram): Issuer centric loading with separate TSM
    • In this configuration, the Card Issuer will load, install, activate and delete the applet. The TSM, acting as a single point of entry for all card issuers, will manage the Applet lock, unlock and personalization (using its own OTA server but the network of the MNO) and if required will provide the DAP signature, for all Card issuers. TSM will act as a proxy, managing the SD on behalf of the SP.
    • Case 2 (SP#2 in diagram): Issuer centric loading with SP acting as its own TSM
    • It is the same case as above except that here the SP will have to connect to all Card Issuers, so there is not the advantage of a single point of entry.
    • Case 3 (SP#3 in diagram): TSM centric loading (Delegated Management)
    • Here the SP acts as its own TSM Same as Case 4 with SP required connecting to all Card Issuers.
    • Case 4 (SP#4 in diagram): TSM centric loading with separate TSM
    • In this model, the TSM can issue the Applet. Card Issuer can require or not the use of a Token for the load and installation commands (it depends on its Token policy). TSM will act as a proxy managing the SD on behalf of the SP.
  • Mobile NFC Device Architecture
    • A Mobile NFC device provides a combination of NFC services with mobile telephony services. With this definition, a mobile phone employing a UICC as the Secure Element and an NFC controller can provide an ideal platform for NFC service applications.
    • Within this context, the UICC hosts and manages the NFC service files and applications, while the NFC controller manages the NFC interface (i.e. to the contactless reader)
  • Mobile NFC Device Architecture
    • Security Issues:
    • Handset
    • Secure display on the screen and secure entry on the keyboard
    • User Interface Authentication
    • NFC services
    • Enhancing security by employing handset connectivity
    • NFC Application Approval
  •  
  • Agenda
    • Accessing Pay Buy Mobile Model
    • NFC M-Payment services
    • Proposition
    • Ecosystem and Value chain
    • Pay-Buy-Mobile Business Models
    • Mobile NFC Technical Guidelines
    • The UICC to NFC Chip interface (Host Controller Interface [HCI])
    • UICC Run-Time Environment
    • Over-The-Air (OTA) Provisioning
    • Mobile NFC Device Security
    • Accessing Mobile Money Transfer
    • Introduction to the Remittance Market
    • The Opportunity for Mobile in Money Transfer
    • Mobile Money Transfer as a Mobile Financial Services Market Catalyst
    • Mobile Banking Vendor Analysis
  • Introduction to the Remittance Market: Background (1/2)
    • Millions of people in developing countries are dependent on the support of primary wage earners working in cities far from home or abroad, where work opportunities are concentrated.
      • In Asia this phenomenon is well established with countries like the Philippines having a high proportion of GDP dependent upon international workers.
    • More recently, the extension of the European Union has lead to an increase in workers from Eastern Europe working in countries such as Germany , France and the UK , as well as the Nordic bloc . Similarly, significant numbers of people from West Africa are resident and working in Europe and the US .
  • Top recipients of migrant remittances among developing countries in 2008 (US$ billion, 2008e)
  • Background (2/2)
    • The flow of funds from migrant workers back to family in their home countries is an important source of income for many developing economies. The recipients often depend on remittances to cover day-to-day living expenses, to provide a cushion against emergencies or, in some cases, to make small investments.
    • For recipient nations, these funds form an important source of national income, in many cases exceeding the country’s income from Foreign Direct Investment and International Aid donations. Remittances now account for about a third of total global external finance (source: World Bank).
  • Remittance flows to developing countries
  • Outlook for remittance flows for 2009-11
  • Market Size
    • Most migrant workers send home between US$2,000 and US$5,000 a year – or 20 to 30% of their earnings (source: ID21 Insights). The total value of remittances has been increasing steadily over the past decade and it is conservatively estimated that in 2004 the total value worldwide was over US$230 billion. The latest World Bank figures estimate that in 2007, US$318 billion was sent cross border.
    • This value is based on ‘formal’ remittance channels that are tracked and recorded. In light of the fact that informal channels also exist, this figure is estimated to be approximately half the total amount remitted, giving a possible total market of over $500 billion.
    • Some 175 million migrants currently use remittance services, sending money to a dependent recipient base of around 800 million people. The World Bank estimates that the average transaction value is US$200.
  • Global remittances exceeded $338 billion in 2008, fell to $317 billion in 2009
  • Remittances as a Proportion of GDP
    • For some countries, remittances can contribute to a significant proportion of GDP, up to a third in some instances.
  • Top 20 Remittance-Receiving Countries, 2008 (US$ Million)
  • Top 20 Remittances as a share of GDP Countries, 2008 (US$ Million)
  • Top 20 Remittance-Sending Countries, 2008 (US$ Million)
  • To Move Money Using Mobile Money
    • For individuals in developing countries, access to remittance funds has the potential to bring profound change to their lives, and to the social and economic growth of their communities.
    • For receiving countries, such funds have huge economic and social benefits on a national scale.
    • The ability to move money using the mobile phone will have dramatic and positive benefits on the dynamics of economies, with traders being able to communicate and do business more easily across whole regions.
  • Global Migration
    • Looking ahead, favorable trends in global migration will ensure that the amount of remittances will continue to grow dramatically.
    • According to Western Union, the global migrant population is expected to grow from 191 million in 2005 to more than 280 million in 2050, with China, India, Mexico and the Philippines experiencing strong levels of emigration.
    • It is estimated that the total value of global remittances in the next five years will be US$700 billion.
    • Such developments have already led the World Bank to state in a report that ‘ improvements to payment system infrastructure that have the potential to increase the efficiency of remittance services should be encouraged .’
  • Current Market Players
    • The remittance market is a huge and expanding industry sector, and mechanisms for moving cash across borders are well established.
    • The market is dominated by a few specialized players, such as;
  • Cross-Border Payments by Type * The most recent year for which comprehensive data was available Source : Boston Consulting Group (BCG), Preparing for the Endgame. Figures for 2011 are projections. BCG defines payments as non-cash transactions, i.e., payments not involving a face-to-face exchange of cash. 2003 2009
  • Estimated Market Share of International Person-to-Person Transfer Providers, 2003 (by number of transactions processed) Sources: Ratha, “Workers’ Remittances,” First Data, SEC Form 10-K; MoneyGram, SEC Form 10; Bezard, Global Money Transfers ; Great Hill Partners, “Great Hill Partners Form GMT Group;” private estimates of Gera Voorrips and Hans Boon, ING Postbank; authors’ estimates.
  •  
  • Current Market Challenges
    • Although the market is well established, there are a number of barriers currently restricting it from reaching its full potential and fulfilling the basic consumer needs.
    • A recent survey conducted by DFID found that the buying needs and purchasing attitudes of customers are based around;
      • Access,
      • Security and
      • Cost.
  • Top factors that influence the choice of provider Source: DFID/BME Remittance Survey (UK), July 2006
  • Access
    • Access to facilities to receive money is often limited, particularly for the poorest people in more rural areas where the banking sector is under represented and a largely cash-based economy exists.
    • There are currently only about 500,000 bank branches globally and only 1.4 million ATMs, compared to almost 3 billion mobile customers worldwide.
    • Those who would benefit most are therefore the least likely to benefit from remittances from migrant workers.
    • They are locked out of the market due to their social, economic and geographical position.
  • Cost (1/2)
    • A number of mechanisms for cross-border remittances already exist, ranging from international bank transfers, specialist remittance companies and indeed a large ‘informal’ sector where methods for transferring cash are varied and difficult to quantify.
    • These mechanisms are prohibitively expensive for small denomination transfers, which limit the ability of individual workers to distribute funds to a larger number of people and penalise the poor who can only afford to send small amounts.
    • The informal sector also presents challenges to governments and their agencies.
  • Cost (2/2)
    • Due to high overheads (retail premises and staff costs), a high fixed commission cost per remittance means that charges for smaller transactions are high, with industry revenues estimated at an average 15% per transaction, increasing to over 25% for remittances below $100 (including foreign exchange costs, ‘FX’).
  • Transfer Cost to Some Leading Recipient Countries (per cent of amount sent; countries ordered by total remittance inflows) Sources: Western Union, Women’s World Banking, and IMF staff calculations
  • The most and least costly "country corridors": (Country Corridors & Average cost in US$)
    • $200
    • Top 5 (least costly):
    • Spain to Brazil 7.45
    • United States to El Salvador 9.17
    • United States to Ecuador 9.39
    • United States to Honduras 9.41
    • Saudi Arabia to Philippines 9.56
    • Bottom 5 (most costly):
    • Germany to China 49.30
    • Germany to Romania 48.79
    • South Africa to Zambia 47.02
    • Netherlands to Indonesia 45.09
    • Germany to Croatia 42.45
    • $500
    • Top 5 (least costly):
    • Spain to Brazil 7.68
    • United States to El Salvador 11.35
    • United States to Honduras 12.48
    • Saudi Arabia to Philippines 13.50
    • United States to Lebanon 13.65
    • Bottom 5 (most costly):
    • Netherlands to Indonesia 86.41
    • Germany to Croatia 85.66
    • South Africa to Zambia 81.08
    • Germany to China 76.74
    • Netherlands to Dominican Republic 70.58
    Cost includes the transaction fee and exchange rate margin. Only those corridors where all the necessary information was provided are featured. Corridor averages are unweighted and do not reflect the market shares of the different firms that compose the average.
  • Charges to send $200 to selected countries Sources: Worker Remittances – An International Comparison, Menuel Orozcp, Inter-American Dialogue, 2003
  • Remitting from Singapore to Indonesia     12.00   Total Average     10.00   Post office Average     10.88   MTO Average     17.50   Bank Average Apr 08, 2008 Next day. However, money can only be sent to branches of Mandiri Bank 25.00 Bank Bank Mandiri Apr 08, 2008 1-2 working days 15.00 MTO GPL Remittance Apr 08, 2008 15 minutes 12.00 MTO Western Union Apr 08, 2008 1-5 days 10.00 MTO Brunphil Express Apr 08, 2008 Same day to branches of BNI in Indonesia; 5 days to all other banks 10.00 Bank BNI (Bank Negara Indonesia) Apr 08, 2008 1-3 working days 10.00 MTO One Stop Remittance Apr 08, 2008 Next day 10.00 Post office Singapore Post (Cashome) Apr 08, 2008 Next day 10.00 MTO BTI Money Transfer Apr 08, 2008 10 minutes 10.00 MTO Ameer Tech (MG) - cash Apr 08, 2008 10 minutes 10.00 MTO Ameer Tech (MG) - account Apr 08, 2008 Next day 10.00 MTO MoneyWorld Date Transfer speed Fee (SGD) Firm type Firm name
  • The Role of Mobile in Money Transfer
    • With its ubiquity and high penetration in nations around the world, mobile communications now has the potential to vastly improve and transform access to remittance funds for people in developing markets.
    • Mobile technology can lower the cost of remittances as it removes the need for physical points of presence and ensures a timely and secure method of transaction.
    • This concept of ‘e-cash’ is extremely attractive to low income users in particular.
    • For many communities around the world, access to such funds forms a critical part of their livelihood.
  • Pakistan
    • In Pakistan, for example, approximately 12 million people – 7% of the population – live and work overseas, with only 1 million people in Pakistan holding bank accounts .
    • This is in comparison to a mobile subscriber base of approximately 70 million and annual growth of almost 100%.
    • Clearly mobile technology has the potential to significantly increase the use of ‘e-cash’ in Pakistan and countries around the world.
  • Mobile Operator
    • The role of the mobile operator community is critical to the success of mobile remittance services.
    • Mobile operators have a level of reach far outstripping that of money transfer providers and banks.
    • As stated previously, there are currently approximately 500,000 bank branches globally and 1.4 million ATMs, compared to almost 3 billion mobile customers worldwide .
    • With significantly greater reach, mobile operators can solve the access problem and drive down costs to more acceptable levels.
  • The Philippines
  • Malaysia: Maxis launch of Fast Tap Service April 9, 2009
  • Extending the Remittance Model to Include Mobile
    • Left without intervention, mobile money transfers of various forms will continue to proliferate, and product innovation will continue, albeit at different rates and in different directions around the world.
    • Global interoperability, however, would offer significant value to customers and ensure the GSM ecosystem delivers value and scale into this service.
  • Interoperability and Market Momentum: Individual MNO Subscriber Penetration The remittance model must therefore be extended to enable international remittances over mobile in a scalable and sustainable manner and to allow cost effective low denomination remittances – an entirely new market not served today.
  • Market Benefits of Mobile Money Transfer
    • The long-term benefits of a unified approach involving mobile operators are tremendous.
    • The World Bank estimates that reducing remittance commission charges by 2-5% could increase the flow of formal remittances by 50-70%, which would boost local economies.
    • Reducing the cost of sending each individual remittance would encourage the delivery of lower value remittances, at values far less than today’s average transfer of US$200.
  • Forecasting
    • The GSMA forecasts that the ‘formal’ global remittance market could be grown from around US$230 billion today to over US$1 trillion in five years with the help of mobile services.
    • Mobile operators meanwhile would also benefit from increased customer loyalty and network traffic, reduced churn rates, and a share of fees.
    • The potential remittance market addressable by mobile operators is a further 2 billion in addition to today’s 800 million existing recipients.
  • The Opportunity for Mobile Operators
    • The opportunity exists for mobile operators to help grow the remittance market significantly and play a leading role in the development of the market.
  • Value to The Operator
    • There are two sources of value to the operator; direct and indirect.
      • Direct value is generated from transaction fees and increased telecoms usage to support the service.
      • Indirect value comes from increased usage not directly linked to the service but catalyzed by it, for example calls to notify customers that funds are being sent, or from reduced churn. In particular, one mobile operator has already experienced up to 80% reduction in churn from those consumers using a mobile wallet.
  • Benefits to Mobile Operators
    • New customer acquisition (individual, corporate)
    • Non-traditional Telco revenues
      • Transaction fees
      • Share of Forex spread
      • Finders/consumer sign-up fees
      • Future m-banking revenue (e.g. utility bill payments)
    • Increase in ARPU
    • Reduced churn (e.g. one operator reduced churn from 3% to 0.5% per month)
    • Meets government service obligations and CSR Agendas
    • Opportunity to up-sell (e.g. mobile content, prepaid to post paid)
  • Value Proposition for Financial Institutions
    • Mobile Money Transfer provides financial institutions with the following benefits:
    • Increases banking penetration/untapped market at low acquisition cost.
    • Increases 'stickiness' of current customers.
    • Reduces operational costs with straight through processing.
    • Meets government service obligations.
    • Productizes your remittance service.
    • Opportunity to up-sell remittance to banking products (e.g. mortgages, loans, insurance, pensions).
    • Potential revenue streams (e.g. retention of deposits, increased transaction and FX spread revenues).
  • What Each Party Brings
  • Mobile Money Transfer as a Mobile Financial Services Market Catalyst: Mobile Money Transfer, Mobile Payments and Mobile Banking
    • By placing mobile operators at the heart of remittances, Mobile Money Transfer has the potential to catalyze the whole mobile financial services market, incorporating mobile payments, mobile banking and mobile transfers.
    • Mobile remittances may serve as a valuable catalyst of m-commerce and m-banking on a global scale, bringing social and economic development and driving CSR agendas.
    • The enabling infrastructure for 'remote' transactions of mobile payments, banking and transfers has significant synergies.
  • Structure of the Mobile Financial Service Market
  • Catalyst
    • Remittances act as a catalyst in two ways:
    • As a driver of mWallet acquisition for consumers; consumers receive an alert advising that they have a remittance and need to sign up for a wallet.
    • By putting funds in the mWallet for use elsewhere.
  • Pakistan as an Example
    • The previous example of Pakistan demonstrates a country where Mobile Money Transfer has the potential to significantly increase the use of ‘e-cash’, with only 1 million people with bank accounts, more than 70 million mobile subscribers, and 7% of the population working abroad.
    • If the 7% migrant worker population from Pakistan sent money back to an average of 4-6 people each, it would take only a short period of time before almost half the population was receiving and using mobile e-cash.
    • This critical mass would drive the ecosystem to support the domestic use of these funds for the community receiving them.
  • Important Elements for Success
    • Mobile remittances are an important but not sufficient element of the successful uptake of e-cash and mWallets.
    • To be a compelling consumer proposition there must be a critical mass of uses of e-cash.
    • The key competitive differentiator for local mWallets will be the combination of cash-in and cash-out channels and the network of merchants that accept payment with e-cash or with a payment card associated with the mWallet.
  • Combining m-wallet uses successfully to match consumer behavior
    • Mobile operators are uniquely positioned to meet the needs of this latent market, with both developed and developing economies offering a potential total direct market revenue opportunity of more than US$100 billion by end 2010, coupled with a significant opportunity for operators to reduce churn.
  • Operator Working Group
    • The GSMA MMT Operator Working group consists of around 30 Mobile Operators that have shown an interest in MMT and have allocated resources to actively participate in the development of standards and interoperability on a global scale.
  • Agenda
    • Accessing Pay Buy Mobile Model
    • NFC M-Payment services
    • Proposition
    • Ecosystem and Value chain
    • Pay-Buy-Mobile Business Models
    • Mobile NFC Technical Guidelines
    • The UICC to NFC Chip interface (Host Controller Interface [HCI])
    • UICC Run-Time Environment
    • Over-The-Air (OTA) Provisioning
    • Mobile NFC Device Security
    • Accessing Mobile Money Transfer
    • Introduction to the Remittance Market
    • The Opportunity for Mobile in Money Transfer
    • Mobile Money Transfer as a Mobile Financial Services Market Catalyst
    • Mobile Banking Vendor Analysis
  • Steering Committee Members
  • Working Group Members
  • Software for Trusted Servicer Managers (TSM)
  •  
  • Malaysia: FastTap Service Provision Overview
  • NOKIA NFC Portfolio
  • Mobile Technology Options
  • Example: Customer View USSD Model
  • M-Money – Driven by Payments and Banking
  • Payments, Transfers and Transactions
  • A mobile wallet for loyalty cards
  • A mobile wallet for loyalty cards
  • A mobile wallet for loyalty cards
  • A mobile wallet for loyalty cards
  • A mobile wallet for loyalty cards
  • Thank You [email_address]