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Overview of Mobile Payment Systems

Overview of Mobile Payment Systems



Overview of the Different Mobile Payment systems ...

Overview of the Different Mobile Payment systems

- NFC based Platforms such as Google Wallet and ISIS
- Systems like Square, VeriFone, Card.io Naratte Zoosh and other exciting and disruptive startups in this space.



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    Overview of Mobile Payment Systems Overview of Mobile Payment Systems Presentation Transcript

    • Overview of Mobile Payment Systems Amit Naik BMC Software
    • Agenda
      • Why should we care?
      • Mobile Payment types
      • World of NFC
      • NFC Payment Platforms
      • Start-ups in Mobile Payments space
      • Wrap-up
      • Q&A
    • Why should we care?
      • Lot of money in this space
      • Mobile Payments To Triple To $670 Billion By 2015 – Report by Juniper Research
      • 141 Million people spending $86.1 Billion Using Mobile Payments - Gartner 2011
      • Paypal alone seeing $ 3 Billion Using Mobile Payments in 2011 – Paypal blog
      • "And one more thing..."
    • iPhone 5 rumored to have NFC! Are you willing to bet against Apple disrupting the mobile payments space? Just like: - Music (iPod) - Phones (iPhone) - Tablets (iPad)
    • Is it safe?
      • PIN protected
      • Safer than Cash
      • Lost SmartPhone noticed in 15 mins, Lost Wallet 60 mins on avg.!
      • Info Encrypted while on Phone
    • Mobile Payment Types
    • Types of Mobile Payments
      • Interactive Voice Response (IVR) based
        • Applies to Landline and Mobiles
      • Premium SMS based
      • Direct Billing – Customer Identity based
      • Web Payments
      • Contactless (NFC)
        • Point-of-Sale
        • Peer-to-Peer
    • Mobile Payment types – cont’d
      • Direct Billing and Contactless modes of mobile payment seeing faster adoption
      • Direct Carrier Billing examples: Zong (Paypal) , BilltoMobile, Boku, MoPay, Billing Revolution, etc.
      • NFC leads in contactless payments tech.
      • Juniper Research: 1 in 6 users worldwide will have an NFC-enabled phone by 2014
      • World of NFC
    • Overview of NFC - Origins
      • Near Field Communications (NFC) is a form of Radio Frequency ID (RFID) communication
      • Invented by NXP Semiconductors (Philips) & Sony in 2002
      • “ Near Field” (less than 0.10 meters) typically not more than a few centimeters
      • Enhanced Security and lower power needs
    • NFC Overview – 3 operation Modes
      • Card Emulation
        • Enables devices to act like contactless cards
        • NFC-enabled mobile phones used for payment
      • Reader/ Writer
        • Enables devices to interact with RF tags
        • E.g. NFC-enabled phones used to read “smart posters”
      • Peer-to-Peer
        • Enables devices to communicate with one another
        • E.g. NFC-enabled laptops and printers
    • NFC Overview - Technology
    • NFC ready smart phones
      • BlackBerry Bold Touch 9900/9930
      • Samsung Galaxy S II (select phones)
      • Nokia C7-00 (Symbian) aka T-Mobile Astound
      • HTC Incredible S with NFC chip (China)
      • Nokia has numerous non-smart phones with NFC for a while in the market
      • iPhone 5?
    • NFC Software Stack
      • Open NFC is a open source software stack with Hardware Abstraction Layer
      • Multiple bindings available for different devices
        • Open NFC for Android™
        • WinCE/Mobile Edition
        • Linux Edition (for embedded Linux or Linux for PC)
        • PC Edition (for Windows XP/Vista/7)
        • Core Edition for small OS (Nucleus, REX...)
      • NFC Payment Platforms
    • Google Wallet
    • How Does Google Wallet Work?
      • Android App – Stores your “plastic” details Credit card numbers, Name, Expiry, etc
      • Point-of-Sale (PoS) equipped with NFC Contactless Readers (PayPass)
      • App. transfers Credit Card authorization using NFC chip on Mobile device
      • Compatible with Nexus S/Nexus S 4G today
      • Citi MasterCard and Google Card used
    • Google Wallet – Security layers
      • Credit card info stored in encrypted form
      • Secure Element - Separate Chip on phone
        • Its own memory isolated from phone memory
        • Restricted access by “trusted apps” only
      • PIN reqd. to activate phone’s NFC antenna – turned off after each info. exchange
      • Device must be in close proximity reader
    • Wallet Security Layers – Cont’d
      • NFC transceiver is only enabled when the phones screen is illuminated
      • PIN is a must to authorize payment transfers – in form of Secure Credentials
      • Credentials transferred directly using Master Cards Paypass protocol
      • Wallet app prevents obvious weak PIN like 1234 , 1111 & Enforces lock out
    • ISIS Payment Network
    • ISIS Payment Network
      • NFC based Payment Network
      • AT&T, Verizon, & T-Mobile together formed ISIS network
      • Supports VISA, MasterCard, American Express, and Discover
      • ISIS enabled Phones not on the market and Architecture is not yet published
      • US trials starting 2012
    • NFC Adoption Stats
      • Credit card companies worried about new entrants disrupting ecosystem
      • Chicken-and-Egg: People can’t use NFC no hardware – manufactures do not make NFC hardware as people do not use it
      • NFC to become widely deployed by 2014
      • Multiple Startups filling gap between Full NFC and Pure Old Credit Card (POCC)
      • Startups - Mobile Payments Area
    • Square - P-2-P mobile payments
    • SMB and P-2-P mobile payments
      • Square Dongles allows merchants to use Cell Phones/Tablets to swipe credit cards
      • Attachment fits into the audio jack of the iPhone/iPad/Android device
      • App. on the phone then transmits info to Square’s servers and Charges the card
      • VISA recently made a strategic investment
      • Start-up Valued at around $1 Billion!
    • Square Competitors
      • VeriFone – Makes both NFC software and traditional Credit card readers for iPhone
      • Reader Case wraps around the bottom-half and plugs into the dock of iPhone
      • InnerFence is another company that makes a similar card reader for iPhone/iPads
      • Plugs into the dock of the iPhone/iPad
    • FigCard – WiFi based payments
      • Fig card (Paypal) provides an application for Wifi enabled smart phones
      • Cheap USB dongle for Merchant POS
      • Fig card app stores Credit cards details
      • When customer is ready to pay, app on phone sends encrypted WiFi signal to POS
      • Phone number/ Credit card number etc not exchanged – Electronic confirmation
    • Card.io – Capture card info easier
      • App on phone takes a picture of Credit Card
      • Strips out reqd. info & send it to Merchant
      • Deletes picture from phone once completed
      • API available for third-party integration
    • Jumio – Similar to Card.io
      • Mobile app that takes a picture of Card
      • Scans picture and extracts info.
      • Also can use WebCam at a POS terminal
      • Securely transmits data
    • Naratte Zoosh – Ultrasound Paymts
      • Data delivery by ultrasound waves ~20,000 Hz
      • Any phone that plays normal mp3s will work
      • Regular Speakers and Microphone capable of sending and reception
      • Works securely even in noisy environments
    • Wrap-up: Future of Mobile Payments
      • Almost unlimited possibilities for disruption of existing shopping experience
      • Low barrier to demo stage
      • Location aware offers – Phone GPS + NFC
      • Verified check-ins Offers (FourSquare)
      • Personalized Offers (Browsing history)
      • Instant in-store offers (Proximity based)
    • Wrap-up – cont’d
      • Instant coupons, instant offers (on-line)
      • Receipts are electronically processed – Phone App. has a transaction log and actual Receipt could be E-mailed/Scanned
      • Lots of innovation – From SMS based payments to NFC based payments in all markets
    • Q & A
    • Get in touch!
    • References
      • Juniper Research Report: http://www.marketwire.com/press-release/mobile-payments-market-almost-triple-value-2015-reaching-670bn-according-new-juniper-1534333.htm
      • Gartner 2011 mobile data: http://www.gartner.com/it/page.jsp?id=1749114
      • Paypal blog on mobile payments: https://www.thepaypalblog.com/2011/06/paypal-doubles-mobile-payments-predictions-to-3-billion-in-2011/
      • Steve Jobs Images by Albert Watson (Angry old Man) and National Geographic October 1982 - Moira Johnston/Charles O’Rear
      • NFC Technology Architecture: http://www.nfc-forum.org/resources/presentations/
      • Open NFC: http://www.open-nfc.org/infos.html
      • Google Wallet: http://google.com/wallet
    • References – cont’d
      • Google Wallet Security: http://www.pcworld.com/article/228959/google_wallet_security_has_a_weakness.html
      • ISIS: http://www.paywithisis.com
      • Square: https://squareup.com/
      • VeriFone: http://www.verifone.com/
      • InnerFence: http://www.innerfence.com/
      • FigCard: http://figcard.com/
      • Card.io: http://card.io
      • Jumio: https://pay.jumio.com/
      • Naratte: http://www.naratte.com/