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Unisys Payment Conference June 30 2009

CPNI Contribution to Unisys Payment Conference Mobile Payment Solution Requirements
by

Jason Hurlbut

on 10 August 2009

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Transcript of Unisys Payment Conference June 30 2009

Unisys Payment Conference June 30 2009
Mobile Payments
Basic Principles
“A is A”
Aristotle
(Parmenides the Eleatic)
Agenda
Tests for Consumer Acceptance
Success Criteria
Trust
Convenience
Speed
Efficiency
Brand
Privacy
Visible Security
Trust
Convenience
Ad Hoc
No Waiting to Send $
Mobile Number as ID
Speed
Sending Money
Registration
Notification
Efficiency
"Faster Payments"
Model #1 - Stored Value Account
Recipient Discovery
How fast can I use my money?
If there is no alternative....
"not designed for doing commerce..."
"does not accomodate
new entrants..."

The Sender does not want to have to know anything
about the recipient...
... other than their phone number
The KEY to VIRAL growth
Success Criteria – consumer
Recipient Discovery
Stored Value Account Model
Bank-centric Model
Future
Sender must register for her virtual account
Sender must tie a funding mechanism to the account
Sender must fund the account
Sender must wait..... wait..... wait.....
Recipient must register his account
Recipient must tie a bank account to his account
or
Recipient must apply for a pre-paid card
Recipient must wait.... wait.... wait....
Recipient must transfer funds to the account or card
Recipient must either wait for settlement or pay high fees
Model #2 - Bank Centric
Source: P8 What kinds of organisation would you trust to offer this type of service to you? – GfK NOP March 2006
93% Trust a Bank
Others are far behind
...but for how long?
2009 CashEdge survey nearly 1,000 consumers on P2P payments:

81% would use a P2P service if offered by their F.I.
77% would prefer to use a P2P service offered by their own F.I. over an independent online P2P service (such as PayPal or a similar service)
73% felt that a P2P service offered through their bank would be more secure than an independent P2P service
69% felt that a P2P service offered through their bank would be more convenient than an independent P2P service
Model #1 - Stored Value Account
Must Build…
Trust

Must Create...
Accounts

Must Use...
Banks for settlement (who gets the fees?)
Model #2 - Bank Centric
Already Have…
Trust

Already Have...
Accounts

Already Have...
Settlement (banks get the fees)
Sender must register to tie the phone with their bank account
Sender sends money

Recipient must provide existing settlement details
Recipient receives their money
Recipient can immediately spend at will
...and many others
Remote Mobile Payments
Benefit Mobile Carriers

Increased data, SMS and voice revenue
Lower cost and increased frequency of mobile top-ups
Sell content without drawing down on a prepaid account,
more high margin revenue from core services
Mobile couponing - merchant revenue
Mobile advertising - merchant revenue
Incents users to upgrade handsets - quicker turnover to new phones
Promotes consumers’ use of other data applications - more data revenue
Complements and paves the way for NFC
“Location Based Marketing and Purchases”
What's Next
Mobile Banking
Bill Payments – pre-registration?
P2P Domestic
P2P International – Remittances
P2M - Cinema Tickets, Flowers, Concert Tickets...
NFC
Full transcript