The discussion for our post focus around Mobile Money, Mobile Payments i.e person to person, person to business etc. New ISO standard 12812, recently appeared in 2017. This standard has 5 parts and part-1 defines the general framework of
If just for a minute we can assume every person on this planet has mobile phone, every mobile user has a bank account/wallet, every bank account is created instantly, virally and at no cost, No bank charges exist,
The mobile payments platform usually allows various users to access services via multiple channels like Web, Mobile App, POS, USSD, NFC, QR Codes and SMS etc. Against escalating security threats on mobile payments, empowerment of merchants, acquirers, and service providers with new commerce opportunities and experiences in store […]
Most of the companies coming into the mobile payments space are actually coming in with little or no experience of the sector and often fail to provide a soulful touch and product to customers. Segmenting customers based on a few simple parameters (like age, potential earnings and spending habits) will therefore ensure that business models are drawn properly and will serve relevant customers.
Today’s consumer expects a seamless mobile payment experience; failing to meet those expectations can be devastating to a brand, idea, innovation and eventually the payments industry. Banks in particular will need to move swiftly if they are to take advantage of the opportunities on offer in the global payments business, or risk losing out to nimbler competitors.Although Mobile Money had been designed as a peer-to-peer payment system but it has gone much beyond the basic idea..