Mobile Payments revolution

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Presentation at 2nd Annual Mobile Application Development Conference @ Bangalore, India

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  • Barcodes are used for two purposes: generating communication for payment and loading prepaid gift cards into wallet.
  • Build and maintain a secure networkMaintain vulnerability management programImplement strong access control measuresProtect cardholder dataRegularly test and monitor networksMaintain an InfoSec policy
  • The way consumers are shopping is changing. The adoption of smart phones are allowing consumers to control how, when, and where they shop. Consumers have more leverage.
  • Mobile Payments revolution

    1. 1. The Mobile Payments Revolution Pragati Ogal Rai Chief Technology Evangelist, PayPal @pragatiogal
    2. 2. Technology + People = Technology Engagement 14+ development experience Author of “Android Application Security Essentials” Mobile & security expert Thought Leader Mobile Developer Relations, North America
    3. 3. A Revolution?
    4. 4. Founded in 1998, PayPal allows payments and money transfers through the Internet
    5. 5. Logos! PayPal processed $14 billion in mobile payment volume in 2012 – more than 3 times the mobile payment volume of $4 billion it processed in 2011. In 2012, eBay generated $13 billion through mobile devices, an overall increase of 120% from 2011. eBay expects to transact $20 billion in 2013.
    6. 6. On Black Friday and Cyber Monday mobile commerce volume via eBay mobile in the U.S. more than doubled in 2012 compared to 2011. http://www.digitaltrends.com/
    7. 7. M-payments is a Global Phenomenon In Q4 2012, 60% of eBay’s mobile purchases came from outside the U.S www.centives.net PayPal’s international business accounted for more than half of total revenue in 2012
    8. 8. Why?
    9. 9. Global Social Mobile Local Digital Service & delivery Six Trends Shaping Consumer Behavior
    10. 10. Consumer Behavior is Changing Commerce Promotions & coupons Mobile commerce Payments Location-based services In-store research Self-scanning & self-checkout Social commerce Loyalty Mobile shopping lists
    11. 11. Connected Commerce Promotions & coupons Mobile commerce Payments Store location In-store research Self-scanning & self-checkout Social CommerceLoyalty Mobile shopping lists Online commerce Mail order Offline commerce
    12. 12. A Closer Look
    13. 13. Infrastructure Clients Merchants Mobile Payments Ecosystem S e c u r i t y
    14. 14. What are Mobile Payments? • Consumer uses a mobile device • Merchant uses a mobile device • Both consumer & merchant use a mobile device How do you define mobile payments?
    15. 15. Remote Mobile Payments • Send and request money • SMS based payments • Mobile banking • Application/ Browser based payments • Carrier Billing Fahad.com
    16. 16. Proximity Mobile Payments • Barcode Scanning • Point of Sale • NFC • Bluetooth • RFID • Accelerometer Wikepedia.org
    17. 17. Your Definition of Mobile Payments What does a Merchant want? • Quick, easy, hassle free • Security compliance • Fraud prevention systems • Current and up to date system • Reliable • Pricing What does a Consumer want? • Fast • Secure • Easy • Choice of payment providers
    18. 18. Challenges?
    19. 19. Diverse & Evolving Mobile Ecosystem Wireless Networks S e c u r i t y Developers Carriers OS VendorsOEMs Services & Infrastructure
    20. 20. Diverse & Evolving Payments Ecosystem payfirma.com
    21. 21. Security Issues Device security Privacy Fraud & Risk Authentication Authorization Evolving Standards http://mollythewally.blogspot.com/
    22. 22. http://mollythewally.blogspot.com/ Device security Privacy Fraud & Risk Authentication Authorization Evolving Standards
    23. 23. Security Issues • Device security • Privacy • Fraud & Risk • Client-merchant authentication • Client authorization • Evolving standards
    24. 24. Side-effects
    25. 25. Increased Collaboration among Mobile Payment Stakeholders
    26. 26. M-payments is Spurring Innovation http://pritamkabe.wordpress.com M-pesa Chipknip GeldKarte Royal Canadian Mint
    27. 27. Improvements in Payment Security • Consumer awareness • Improved device security • Newer authentication techniques • Evolving security standards like PCI Security Standards
    28. 28. PCI Standard Council • Independent organization • Develop common set of payment standards – PCI-DSS v2.0 – PCA-DSS – PCI-PTN – PCI-P2PE
    29. 29. Innovation in Hardware Space http://gadgetian.com/44495/google-lg-nexus-4-4g-lte-chip-inside-ifixit/
    30. 30. TrustZone: Trusted Execution Environment www.arm.com • Two domains: Normal & Secure • Implemented as SoC • Security extensions to processor • Trusted OS • Virtualization
    31. 31. Mobile brings New Use Cases Promotions & coupons Location-based services In-store research Self-scanning & self-checkout Global Social Commerce Loyalty Online Commerce Mobile Wallet Shopping Lists
    32. 32. Changing Form of Payments • Money becomes more abstract • Digital goods • Anonymous payments: Bitcoin Less cash society Cashless society
    33. 33. Future Predictions! "We expect global mobile transaction volume and value to average 42 percent annual growth between 2011 and 2016, and we are forecasting a market worth $617 billion with 448 million users by 2016," Sandy Shen, research director at Gartner, May 2012
    34. 34. Summary • Mobile payments is a global phenomenon • Define what mobile means to your business • Think beyond the hype • Security, trust, and safety is of paramount importance
    35. 35. Pragati.Rai@paypal.com http://www.slideshare.net/pragatiogal Thank you!
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