How are mobile devices changing face of payments?
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How are mobile devices changing the face of
payments?
Pragati Ogal RaiMobile Technology Evangelist, PayPal
@pragatiogalgithub.com/pragatiogal
Mobile Developer Conference, Chennai, Dec 1, 2012
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Agenda
• Journey of Payments
• Current Landscape
• Emerging Trends in Mobile Payments
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Journey of Payments
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Livestock Warfare
Fruits and grains
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Old Roman Empire Gold Coin Ancient Indian Gold Coin
Ancient Greek Silver Coin
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Emperor Kublai KhanYuan Dynasty
1215-1294 AD
Paper Money500 Cash 1269-1365
Kublai Khan issued paper money known as Chao
http://en.wikipedia.org
Marco Polo was a Venetian merchant traveler whose travels are recorded in II Milone.
He introduced Europeans to Central Asia and China.
Marco Polo1254 – 1324 AD
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Curtsey Diners club
First Diners Club credit cards were given out in 1950
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Founded in 1998, PayPal allows payments and money transfers through the Internet.
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http://www.prlog.org
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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
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Current Landscape
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Infrastructure
Clients Merchants
Mobile Payments Ecosystem
Security
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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?
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Remote Mobile Payments
• Send and request money
• SMS based payments
• Mobile banking
• Application/ Browser based payments
• Carrier Billing
Fahad.com
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Proximity Mobile Payments
• Barcode Scanning
• Point of Sale
• NFC
• Bluetooth
• RFID
• Accelerometer
Wikepedia.org
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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
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04/11/2023
Consumer Products
Merchant Products
Capabilities
MerchantProducts
OVER 800,000 DEVELOPERSCommunity
eBay Inc.: Developer Offerings
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Open Global Payments Platform
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Why PayPal?
113.2 million Active consumers190 markets25 currencies21 localized websites$118 billion TPV in 2011$4382 per sec6.2 million payments per day0.26% fraud rate
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Collecting Payments: Express Checkout
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Collecting Payments: Mobile Express Checkout
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Collecting Payments: Adaptive Payments
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Reports and Information
Transaction Search / Details
Instant Payment Notifications
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PayPal Access: Your Commerce Identity
1. Forrester Research 2. Blue Inc.
• 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
Sign-on Today
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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
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Informatics Data Examples
PayPal Access: Delivers Actionable Consumer Data
Online activity: who customer is & how they purchase– Time of last purchase– Frequency of online purchase– Average amount per online purchase– More…
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
Real-time data: Enables targeted offers, even on first visit
All online transactions
PayPal Informatics data covers up to 60% of online
transactions*
PayPal Informatics
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PayPal Here: Point of Sale Payments
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Development Phases
Create Sandbox account
Get API credentials
Design, build & test application
Submit for approval*
GO LIVE
* Only Adaptive Payments, Mobile Payment Library, and certain advanced APIs in Express Checkout require submission.
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Biggest Challenge?
Security
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Diverse & Evolving Mobile Ecosystem
Wireless Networks
Security
Developers
Carriers
OS VendorsOEMs
Services & Infrastructure
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Security Issues
• Device security
• Privacy
• Fraud & Risk
• Client-merchant authentication
• Client authorization
• Evolving standards
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PCI Standard Council
• Independent organization
• Develop common set of payment standards
• PCI-DSS v2.0
• PCA-DSS
• PCI-PTN
• PCI-P2PE
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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
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Emerging Trends….
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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
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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
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M-payments is a Global Phenomenon
• M-pesa in Kenya
• Chipknip
• GeldKarte
• Royal Canadian Mint
http://pritamkabe.wordpress.com
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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
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Changing Form of Payments
• Money becomes more abstract• Royal Canadian Mint• Digital goods• Anonymous payments: Bitcoin
Less cash society Cashless society
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Increased Collaboration among Mobile Payment Stakeholders
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Improvements in Payment Security
• Consumer awareness
• Improved device security
• Biometric identification
• Evolving security standards like PCI Security Standards
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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
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Pragati Ogal Rai
@pragatiogal
http://www.slideshare.net/pragatiogal