mobile payments

The next big revolution

www.binarymantrasystems.com

AGENDAM-Payments - PrefaceAbout BMSSome key conceptsStakeholders in M-paymentsThe payment system The technology behind m-paymentsThe classificationOpportunitiesChallengesKey Factors for SuccessThe Indian ScenarioConclusion

PrefaceWhat is Mobile Payments ?

User demand creating exciting opportunities for m-payment companies

Estimated market size of 22 billion USD in next 3 years worldwide

Ease of use, security and pricing will determine the road ahead

About BMSIt is an India based software development organization

It has been working closely on developing Mobile applications and IT related healthcare solutions

In order to gain a foothold in the market, it is closely observing the m-payment market

They feel that the future lies in a technology platform whereby m-payment is highly secure and can support a wide range of mobile devices

Some key conceptsMobile Remote Payment It covers payments that take place online, in which the mobile phone is used as a

device to authenticate personal information stored remotely

Mobile Proximity Payment It refers generally to contactless payments in which the payment credential is

stored in the mobile and is exchanged over the air, based on NFC technology, with a dedicated and compatible payment terminal.

Near Field Communication It is a short-range radio frequency communication technology that enables NFC

devices located no more than a few centimeters from each other to exchange data. NFC devices are totally compatible with existing contactless technologies like smart cards and contactless stickers.

Mobile Payments - Stakeholders

The M-Payment System

Mobile Device

Content Provider

Payment Service Provider

The Technology behind M-paymentsContactless payment readers

Network connecting them to transaction processors

NFC-equipped phones

Network for providing mobiles with personal account information

Software for mobile device UI and back end server application

Classification M-payments can be classified into four broad categories

depending on their functionality;

Transaction type

Transaction Settlement type

Content type

Content value

Opportunities

Penetration Size and growth rate of the mobile market is the key driver of mobile services

Demographics India, having largest young population and a high amount of disposable income,

plays a key role

Infrastructure The capabilities of handsets easily support latest services and applications

ChallengesLack of technology standards

Regulatory bodies

Business Models

Security aspects

Consumer Awareness

Key Factors for SuccessUser convenience

Security and Trust

Registration and Activation process

Local level standardization

Communication and marketing efforts

The Indian ScenarioCurrently registered no. of m-payment users is close to 3.5

million users

2 types of payment systems are in use at present; Text/SMS based service – Paymate, mChek, Obopay GPRS based service – JiGrahak

In next 3 years, the number is expected to grow to 9 million users due to increase in quality and adoption of handsets

ConclusionMobile payment has not been adopted on a scale large

enough to make it viable, but it will arrive when the handset, network operator and vendor infrastructure is in place

Much work is still to be done in the areas of wireless network security, standardization of protocols, and user interface design

Mobile payments has opened up opportunities for several types of industry players like mobile operators, IT companies and banks

CONTACT

CONTACT

Sudhakar MishraVP- Sales & Marketing+91 –( 932) 615 6840

sudhakar@binarymantrasystems.com

www.binarymantrasystems.com

Feel free to contact us for any mobile applications development work