The need for partnership is quite clear–risk must be shared, opportunity must be maximised and time to revenue must be minimised. Yet the prospect of mature portal-driven financial services is compromised by the uniqueness of the mobile internet model whereby revenue generation between partners is less certain than for the fixed internet–for example advertising [...]
Monday, March 23, 2009
For operators new usage drives new revenue: existing billing relationships can be leveraged to charge for services as well as products purchased via operator networks–an average 9% transaction fee is levied on the fixed internet. Yet the dominant positioning of operators also involves challenges. Despite the significance of operators’ location data, billing relationship and customer [...]
Monday, March 23, 2009
As we have seen, the advent of m-payment negates the four-tier relationship (payer and bank, payee and bank) of current payment models and the issue does not solely pivot on an operator-bank axis. The Paybox payments system in Germany (no operator involvement) could usurp the role of credit card companies through a bank-granted credit line. [...]
Monday, March 23, 2009
The manner of device smart card architecture has ramifications for banks and mobile operators enabling m-payments. Models include: * Dual-slot–the handset comes with an in-built smart-card reader. User inserts existing debit/credit card into the smart card reader slot and type in a bank-issued PIN for authentication. This solution inclines itself to pre-existing smart microprocessor [...]
Monday, March 23, 2009
The predicted dominance of mobile terminals as the prime channel for internet access is complicated by the plethora of mobile device types. Although this report focuses on low-end smartphones (cellular handsets), it is worth noting the full range of mobile devices which differ according to functionality (ie voice, text, graphics), physical form (ie handset size, [...]
Monday, March 23, 2009
* Mobey Forum–launched in May 2000, it is a collective of financial institutions and leading handset manufacturers. Founding members include ABN Amro, Deutsche Bank, Merita NordBanken as well as VISA, Ericsson, Motorola and Nokia. The Forum is working with standardisation bodies in both the mobile and financial services industries, and aims to guarantee interoperability [...]
Monday, March 23, 2009
In order to perform secure transactions and messaging, data encryption is paramount. This can be provided by symmetric and asymmetric (Public Key) encryption. The symmetric alternative uses the same key to encrypt and decrypt information–unfortunately the key must be transmitted to the recipient of the message, allowing interception by a third party. Public Key [...]
Monday, March 23, 2009
With the internet notorious for security breaches and incomplete transactions, it is vital that the evolution of m-commerce is built within a secure and trusted environment. Trust in the m-commerce environment means more frequent transactions, higher value transactions and increased loyalty/ brand affinity. Mobile banking services therefore represent an opportunity to instill confidence in [...]
Wednesday, March 18, 2009
Wireless Application Protocol (WAP) is an open, global standard enabling mobile devices to connect to the internet and is compatible with the majority of bearer networks (eg CDMA, GSM and next-generation network standards). Enabling transactional capabilities, WAP is superseding earlier banking applications based on SMS, the two-way messaging protocol that catered for basic information-led mobile [...]
Wednesday, March 18, 2009
If the SIM can be considered an adaptable resource for mobile banking through STK applications with inherent security potential–SIM browsers guarantee end-to-end encryption unlike WAP 1.1–smart card developments outgrow pure reliance on the SIM (itself a smart card controlled by the operator). Banks keen to leverage their position within the transaction cycle will employ Wireless [...]
Monday, March 23, 2009
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