How are mobile devices changing face of payments?
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This is the presentation at Mobile Developer Conference, Chennai, India on Dec 01, 2012
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How are mobile devices changing face of payments?
- 1. How are mobile devices changing the face of payments? Pragati Ogal Rai Mobile Technology Evangelist, PayPal @pragatiogal github.com/pragatiogal Mobile Developer Conference, Chennai, Dec 1, 2012
- 2. Agenda • Journey of Payments • Current Landscape • Emerging Trends in Mobile Payments
- 4. Livestock Warfare Fruits and grains
- 5. Old Roman Empire Gold Coin Ancient Indian Gold Coin Ancient Greek Silver Coin
- 6. Kublai Khan issued paper money known as Chao Emperor Kublai Khan Paper Money Yuan Dynasty 500 Cash 1269-1365 1215-1294 AD Marco Polo was a Venetian merchant traveler whose travels are recorded in II Milone. He introduced Europeans to Central Asia and China. Marco Polo 1254 – 1324 AD http://en.wikipedia.org
- 7. First Diners Club credit cards were given out in 1950 Curtsey Diners club
- 8. Founded in 1998, PayPal allows payments and money transfers through the Internet.
- 10. Logos! Worldwide mobile payment transaction values will surpass $171.5 billion in 2012, a 61.9 % increase from 2011 Gartner, May 2012 1.8 billion consumers globally will buy digital goods via their mobile in 2011, this will rise to 2.5 billion in 2015. Juniper Research, 2011
- 12. Mobile Payments Ecosystem S e c Clients Merchants u r i t y Infrastructure
- 13. 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?
- 14. Remote Mobile Payments • Send and request money • SMS based payments • Mobile banking • Application/ Browser based payments • Carrier Billing Fahad.com
- 15. Proximity Mobile Payments • Barcode Scanning • Point of Sale • NFC • Bluetooth • RFID • Accelerometer Wikepedia.org
- 16. Your Definition of Mobile Payments What does a Merchant want? What does a Consumer want? • Quick, easy, hassle free • Fast • Security compliance • Secure • Fraud prevention systems • Easy • Current and up to date system • Choice of payment providers • Reliable • Pricing
- 17. eBay Inc.: Developer Offerings Consumer Products Merchant Merchant Products Products Capabilities 12/5/2012 Community OVER 800,000 DEVELOPERS
- 18. Open Global Payments Platform
- 19. Why PayPal? 113.2 million Active consumers 190 markets 25 currencies 21 localized websites $118 billion TPV in 2011 $4382 per sec 6.2 million payments per day 0.26% fraud rate
- 20. Collecting Payments: Express Checkout
- 21. Collecting Payments: Mobile Express Checkout
- 22. Collecting Payments: Adaptive Payments
- 23. Reports and Information Transaction Search Instant Payment / Details Notifications
- 24. PayPal Access: Your Commerce Identity Sign-on Today • 23% - customers who abandon carts when asked to register1 • 45% - leave website when they can’t remember their password2 • 25 - average number of online accounts per user1 1. Forrester Research 2. Blue Inc.
- 25. PayPal Access: Your Commerce Identity • Single sign-on • Enter and update billing and shipping information once • Commerce identity. PayPal is trusted by consumers to keep their information secure and respect their privacy
- 26. PayPal Access: Delivers Actionable Consumer Data PayPal Informatics data Informatics Data Examples covers up to 60% of online transactions* Online activity: who customer is & how they purchase – Time of last purchase – Frequency of online purchase – Average amount per online purchase – More… PayPal Informatics Category of purchase history – UPC code – eBay category (420K categories) i.e. women's clothing jeans, women's junior’s jeans, women's petites jeans All online transactions Real-time data: Enables targeted offers, even on first visit
- 27. PayPal Here: Point of Sale Payments
- 28. Development Phases Design, build & test application GO LIVE Get API Submit for credentials approval* Create Sandbox account * Only Adaptive Payments, Mobile Payment Library, and certain advanced APIs in Express Checkout require submission.
- 29. Biggest Challenge? Security
- 30. Diverse & Evolving Mobile Ecosystem S OEMs OS Vendors e c u r i Services & Developers t Infrastructure y Carriers Wireless Networks
- 31. Security Issues • Device security • Privacy • Fraud & Risk • Client-merchant authentication • Client authorization • Evolving standards
- 32. PCI Standard Council • Independent organization • Develop common set of payment standards • PCI-DSS v2.0 • PCA-DSS • PCI-PTN • PCI-P2PE
- 33. PCI-DSS V2.0 • Build and maintain a secure network • Protect cardholder data • Regularly test and monitor networks • Maintain an InfoSec policy • Maintain vulnerability management program • Implement strong access control measures
- 35. 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
- 36. M-payments is a Global Phenomenon Eastern Europe will see the highest user growth between 2011 and 2016. Asia/Pacific will have the most m-payment users, but Africa will account for the highest revenues. Gartner, May 2012
- 37. M-payments is a Global Phenomenon • M-pesa in Kenya • Chipknip • GeldKarte • Royal Canadian Mint http://pritamkabe.wordpress.com
- 38. Mobile brings New Use Cases Location-based services Self-scanning & self-checkout Online Commerce Promotions & Shopping Lists coupons Global Social Commerce In-store Mobile Wallet research Loyalty
- 39. Changing Form of Payments • Money becomes more abstract • Royal Canadian Mint • Digital goods • Anonymous payments: Bitcoin Less cash society Cashless society
- 40. Increased Collaboration among Mobile Payment Stakeholders
- 41. Improvements in Payment Security • Consumer awareness • Improved device security • Biometric identification • Evolving security standards like PCI Security Standards
- 42. 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
- 43. Pragati Ogal Rai @pragatiogal http://www.slideshare.net/pragatiogal
Editor's Notes
- Paper money backed by government. People believe and trust in it.In the United States:1690 Colonial Notes The Massachusetts Bay Colony issued the first paper money in the colonies which would later form the United States.1781 Nation's First Bank Also to support the Revolutionary War, the continental Congress chartered the Bank of North America in Philadelphia as the nation's first "real" bank.
- Barcodes are used for two purposes: generating communication for payment and loading prepaid gift cards into wallet.
- X.Commerce is an open ecosystem of partners and developers to help retailers extend and future proof their commerce infrastructure. Stats: Over 50 capability categoriesOver 300 technology companies integratingOver commerce 800K developers All to help deliver innovation to retailers, large or small. -Data platform catalog inventory intelligence customer intelligence optimizationCloud Hosting environment Storefronts commerce applications data
- 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.