The basics of mobile payments
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The basics of mobile payments
- 1. The Basics of Mobile Payments Pragati Ogal Rai Mobile Technology Evangelist, PayPal @PayPalDev @pragatiogal
- 2. Agenda • Journey of Payments • Current Landscape • Mobile Payments Use Cases • Emerging Trends in Mobile Payments
- 4. Food & Grains Ancient Indian and Roman Coins 500 Cash 1269- 1365 Emperor Kublai KhanFirst Diners Club credit cards were given out in 1950
- 5. Founded in 1998, PayPal allows payments and money transfers through the Internet
- 6. 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.
- 8. On Black Friday and Cyber Monday mobile commerce volume via eBay mobile in the U.S. more than doubled compared to 2011. http://www.digitaltrends.com/
- 10. Infrastructure Clients Merchants Mobile Payments Ecosystem S e c u r i t y
- 11. 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?
- 12. Remote Mobile Payments • Send and request money • SMS based payments • Mobile banking • Application/ Browser based payments • Carrier Billing Fahad.com
- 13. Proximity Mobile Payments • Barcode Scanning • Point of Sale • NFC • Bluetooth • RFID • Accelerometer Wikepedia.org
- 14. 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
- 15. Use Cases
- 16. • Fundraising for schools, non-profits • Check out for lower fees • Accept payments anywhere • Not restricted to one payment type • Easy to implements Donations
- 17. Content & Digital goods • Games, media, content • In-context, less clicks payments • Low fees for both small and large transactions • One-time micropayments, pay-as- you-go, and subscription models • International markets
- 18. Payment Gateway • Process major credit cards • Hosted or customizable • Any merchant account, processor or cart • Sandbox environment, dev tools • Bill Me Later option • Small and large transactions • Advanced fraud protection • 24x7 customer support • Scalable • International markets
- 19. Shopping Cart • Multiple selections • View shipping, taxes, other costs • Quick setup • Integrated payments • Integrated social media • Advanced fraud protection • 24x7 customer support • Scalable • International markets www.cartkeeper.com
- 20. Online Invoicing • Create and email invoices • Click a payment • Professional looking templates • Customizable • Send invoices from phone • Manage invoices • Quick transfers
- 21. Mobile Point of Sale • Accept cards, checks, invoices, cash • Clear pricing • Quick access to funds • Customer support • Connect multiple readers • Global solution
- 22. Mobile Point of Sale PayPal’s chip and pin solution
- 23. Commerce Identity • Single sign-on • Enter and update billing and shipping information once • Security and privacy • Reporting and analytics
- 24. Development Phases Create Sandbox account Get API credentials Design, build & test application Submit for approval* GO LIVE
- 26. Security Issues Device security Privacy Fraud & Risk Authentication Authorization Evolving Standards http://mollythewally.blogspot.com/
- 27. http://mollythewally.blogspot.com/ Device security Privacy Fraud & Risk Authentication Authorization Evolving Standards
- 28. PCI Standard Council • Independent organization • Develop common set of payment standards • PCI-DSS v2.0 • PCA-DSS • PCI-PTN • PCI-P2PE
- 30. Mobile Payments are Here to Stay "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
- 31. 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
- 32. M-payments is a Global Phenomenon http://pritamkabe.wordpress.com M-pesa Chipknip GeldKarte Royal Canadian Mint
- 33. 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
- 34. Changing Form of Payments • Money becomes more abstract • Digital goods • Anonymous payments: Bitcoin Less cash society Cashless society
- 35. Increased Collaboration among Mobile Payment Stakeholders
- 36. Improvements in Payment Security • Consumer awareness • Improved device security • Newer authentication techniques • Evolving security standards like PCI Security Standards
- 37. Summary • Mobile payments are here to stay • Define what mobile means to your business • Think beyond the hype • Security, trust, and safety is of paramount importance
Editor's Notes
- 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.