Mobey Forum Defines Control Points within the Mobile Wallet Ecosystem
Mobey Forum has released a whitepaper entitled ‘Control Points in Mobile Wallets’, which analyses how the rollout of the mobile wallet will be dictated by the various stakeholders involved in its development and deployment. The paper identifies seven key areas, or ‘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.
Amir Tabakovic, head of market development at PostFinance and chair of the Mobey Forum Mobile Wallet Task Force, said: “There is clearly much interest in the commercial potential of mobile wallets from organisations operating in the mobile financial services industry. There is also considerable competition for market position among key players striving to win the interest of consumers. 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.”
This is the second in a series of mobile wallet whitepapers from Mobey Forum, the global bank-led industry association driving a prosperous mobile financial services ecosystem, which aims to provide the industry with a new level of thinking on what is required of stakeholders to facilitate widespread adoption of the mobile wallet.
In addition to exploring how stakeholder groups can influence the ecosystem by managing these control points, 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.