Mobey Forum released a white paper analyzing how the rollout of the mobile wallet will be dictated by the various stakeholders involved in its development and deployment.
The second in a series of mobile wallet white papers from Mobey Forum, “Control Points in Mobile Wallets” identifies seven key areas (“control points”) within the mobile wallet ecosystem that will influence the delivery of the technology to end users, and highlights the controlling roles that different stakeholder groups will play in the commercial operation of its supporting infrastructure.
“There is clearly much interest in the commercial potential of mobile wallets from organizations operating in the mobile financial services industry,” said Amir Tabakovic, head of Market Development at PostFinance and Chair of the Mobey Forum Mobile Wallet Task Force. “If the mobile wallet is to develop to its full potential, it is important to understand how the mobile wallet landscape can be influenced and in particular how stakeholders can control one or more parts of the ecosystem.”
According to Mobey Forum, the paper also demonstrates how each control point can be applied to the different implementation approaches taken by current providers, including Google, M-Pesa, Nokia Money and Isis, irrespective of the specific technologies and business models employed by each.
“We advocate an open systems approach to mobile wallet development,” added Sirpa Nordlund, Executive Director of Mobey Forum. “By drawing all stakeholders together and collaborating on the development of an infrastructure that is fully interoperable and in line with known industry standards, we can create a commercially viable environment that enables any mobile wallet to host content from any provider which, ultimately, will accelerate mass market adoption.”
Contributors to the white paper include: Bank of America, DNB Bank, European Payments Council, FSM Consultants, Oberthur Technologies, Luup, Nets, Nokia, Nykredit, PEACHES, PostFinance, Rabobank, Royal Bank of Scotland, SWIFT and Tieto.