Mobile payments 101
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Mobile Payments 101
Pragati Ogal RaiMobile Technology Evangelist, eBay Inc.
@pragatiogalgithub.com/pragatiogal
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Agenda
Journey of Payments
Current Landscape
– How online payments work today?
– Mobile payment infrastructure
– Mobile payments use cases
– Security considerations in mobile payments
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 allowed 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 2011Gartner, 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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How Online Credit Card Payments Work?
AuthorizationSettlement
Four Corner Model
Two institutions– Issuing bank – Acquiring bank
Two processes– Authorization– Settlement Consumer Merchant
Consumer Bank Merchant Bank
Two entities– Consumer– Merchant
Payment Gateway
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Consumer Merchant
Consumer/Issuing Bank
Acquirer/Merchant
Bank
Authorization
< 3 sec
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Consumer Merchant
Consumer/Issuing Bank
Acquirer/Merchant
Bank
Settlement
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Infrastructure
Clients Merchants
Mobile Payments Ecosystem
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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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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 M-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