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Tag: Mobile Payment

  • The Emerging Ideas In FinTech Space….

    The Emerging Ideas In FinTech Space….

    The Payment & FinTech Space continues to evolve with lot of new possibilities. The cash payments continue to fall and rise of digital payments continue in UK and developed world. The digital payment offers completely new possibilities and scenarios for the digital natives. Let us look at interesting new ideas and use cases in payments: 

    Facebook Messenger Bots can now accept payments from customer without leaving the messenger app. This allows Messenger to become a complete commerce platform in itself. With a user base of more than 1 billion people, it can become a significant player. Pizza giant Dominos allows you to order Pizza via FB Bot in US. Indian Mobile Payment Startup Niki helps people in India hail a cab, order food, and pay for laundry or the electricity bill, among other things via Nikibot. 

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    Voice based Payments are here. Speak “Pay $20 To Amy” to Amazon Echo and the payment will be made using Alexa and other technologies. German Digital challenger bank N26 allows its customers to transfer money using Siri. “Siri, Send 21 Euros to Anastasia with N26”. A box within Siri will then appear checking the recipient, the amount and asks for confirmation. N26 also allows payments via iMessage. 

    Future Is Shining…The next big things in the payment space are the use of APIs, Virtual Reality and Biometrics. Connected Cars and Smart Equipments will make the payments. The refrigerator will buy and pay for the milk. The jury is still out on BitCoin….

    Interesting Ideas Are Emerging…DigiSeq has integrated payment, access control and loyalty into one smart wearable device. Universal Basket is a smart idea. It recognises any product on any website and allows shoppers to buy with one ID and shopping profile via a UB-powered website or application. Swedish Payment giant Klarna has got is first big customer in UK – Arcadia Group. Klarna allows customers to try the product and pay later.If customers like the product, they can delay payment for up to three months interest free or start paying off with interest after three months are up. If they don’t like the product, they can send the item back. 

    Image Credit: Tech Insider.IO & Philips

  • HCE – Why Does This Disruptive NextGen Technology Matter?

    HCE – Why Does This Disruptive NextGen Technology Matter?

    Host Card Emulation (HCE) is topic of season in the contactless world. It is an disruptive technology which promises to open up new business cases and challenge the incumbent Secure Element (SE) technology. It is redefining mobile payment, access control and identification use-cases.

    Host Card Emulation is an enabler technology, which allows NFC enabled mobile device to emulate any contactless smart card and store the secure data remotely on the cloud. Traditionally the user data was only stored inside a mobile device, popularly known as Secure Element Platforms.

    HCE allows users to just tap their mobile devices on the terminals to initiate transactions with an app of their choice. HCE will allow Telcos and Banks to quickly launch contactless mobile services.

    HCE is a game-changer due to the following reasons:

    Quick Launch To Market: HCE is a software based solution and hence quicker to launch and market. The hardware based solution – Secure Element – is a time consuming process as the roll-out is dependent on ensuring SE on Mobile SIM card or embedded Secure Element.

    Cost-Effective: HCE wallets are like any other apps. So there is no cost of special devices with secure element or additional memory cards or fobs. It is cheaper for banks and other service providers to launch these wallets.

    Versatile: HCE Apps can be versatile. It can be used for various services including Payments, tokens/loyalty programs, access control, transit ticketing, and other value added services alike.

    Secure: Tokenisation and key rotation ensure the HCE solutions are secure. More work is being done to ensure higher security levels. HCE is a new technology and it will get better with each season.

    Industry-Support: Visa and MasterCard support HCE. It is a big endorsement. The HCE support comes pre-packaged in Android Kitkat OS. Blackberry was the first OS to support HCE. HCE works with NFC enabled devices.

    The HCE ecosystem ensures easy implementation, quick scalability and fast roll-outs. Indeed the steps in the right direction for the mobile payment industry. The best part is the opening up of new use-cases and business scenarios that are so vital for the cloud-driven mobile-first digital lives.

  • Gartner Insight: Ten Consumer Mobile Applications to Watch in 2012

    Gartner Insight: Ten Consumer Mobile Applications to Watch in 2012

    1. Location-Based Services
    2. Social Networking
    3. Mobile Search
    4. Mobile Commerce
    5. Mobile Payment
    6. Context-Aware Services
    7. Object Recognition
    8. Mobile Instant Messaging
    9. Mobile E-Mail
    10. Mobile Video

    Source: Gartner

  • Idea’s Latest Ad: Save Paper, Use Mobile

    Check out the new ad of Idea on Environment. Thomas Friedman and all of us are happy ! The ad talks about using mobile phones instead of paper for daily activities and saving the earth. The ad is a wonderful example of consistent positioning, great idea and impeccable execution. It has its heart in right place – never mind the tree Abhishek!

    According to Idea, World over, millions of tonnes of trees get cut everyday to produce paper, leading to alarming rates of deforestation. The new IDEA TVC showcases how the mobile phone can be used as an efficient tool to read daily newspapers, generate e-bills, make payments and transactions, issue e-tickets and boarding passes; thereby saving tonnes of paper everyday.

    Idea has promoting the Future of Mobile in its own creative away. It is also demonstrating creative solutions to today’s complex problems. The earlier campaigns were – ‘Championing a world without caste’; ‘Championing a world in which no one suffers from the disability to communicate’; ‘Education for All’, ‘Participative Governance’, and the last ‘Walk When You Talk’ – addressed subjects such as Caste War, Disability to Communicate, Education, Democracy and Health, respectively. Now, ‘Environment’ is IDEA’s next big Idea!   

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    Cheers to Idea and Lowe, IDEA’s creative agency.

    In all these Ideas, the big Idea is the infinite possibilities of mobile phone ! As Einstein said, Imagination is more important than knowledge. Mobile phones are a part of our daily life and their role is only going to increase. It is the most personal tool. Every company, every brand manager has to think of how it can leverage the most important screen. Creative ideas, smart apps are one part of the answer. The other – Get a big Idea!

  • The Top 10 Consumer Mobile Applications for 2012 by Gartner

    Gartner  has identified the top 10 consumer mobile applications for 2012. Gartner listed applications based on their impact on consumers and industry players, considering revenue, loyalty, business model, consumer value and estimated market penetration.

    Though many of these Apps are in the market, they will all evolve and get refined and become better.

    The Top Apps are:

    1. Mobile Money Transfer
    2. Location-Based Services
    3. Mobile Search
    4. Mobile Browsing
    5. Mobile Health Monitoring
    6. Mobile Payment
    7. Near Field Communication Services
    8. Mobile Advertising
    9. Mobile Instant Messaging
    10. Mobile Music

    M-Pesa is one of the most popular and innovative money transfer concept. Citibank has already conducted trials of NFC in Bangalore in India. Interesting times ahead !

    Ashwin  – Thanks for the Gartner Article!