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TheMobileBuzz
The four pillars of m-payments and paying billers – until mobile proximity payments
mature, banks and credit unions will create immediate
value by attracting, retaining and strengthening the
ews about mobile payments usually focuses loyalty and profitability of key consumer segments that
on the opportunity of in-store payments using are predisposed to the mobile channel, including Gen Y."
mobile phones at the POS. But recent Fiserv
N Inc. research suggests financial institutions First three first
(FIs) should focus on the more immediate and lucrative
money transfer realm that involves person-to-person (P2P) The m-payments game plan begins with companies
and person-to-business (P2B) payments. making strategic investments into the first three pillars.
Fiserv said mobile solutions should allow consumers to
In an April 2014 white paper titled The Four Pillars of Mobile transfer money to internally- and externally-held accounts,
Payments – Immediate Opportunities, the transaction make P2P transactions, and facilitate P2B payments via
processor for FIs stated the four building blocks of an mobile remote deposit capture technology.
m-banking/payments strategy are paying: Then, enterprises should build support for loyalty and
1. Self rewards programs to lay the groundwork for consumers'
2. Other people adoption of mobile wallets and proximity payments. "This
3. Billers will increase the likelihood of consumers seamlessly
transitioning from mobile banking to mobile proximity
4. Merchants/retailers payments," Fiserv said.
Fiserv's 2013 consumer trends survey found that 30 million
U.S. households use mobile banking services, up 22 percent The processor noted that FIs are by far the most trusted
from 2012. The most popular m-banking/payments uses are financial service providers when it comes to the mobile
viewing account balances, transferring funds and viewing realm, citing Ovum research that said FIs are trusted by 43
monthly statements. Thus, service providers should center percent of consumers, compared with 13 percent for credit
on facilitating these types of activities first. Fiserv stated, card issuers, 9 percent for online payment providers and
"By focusing on the three pillars of mobile payments that 6 percent for mobile operators. Therefore, FIs can leverage
consumers are already using – paying self, paying others their existing relationships with consumers to gain a
foothold into m-payments today and into the future.
25
The four pillars of m-payments and paying billers – until mobile proximity payments
mature, banks and credit unions will create immediate
value by attracting, retaining and strengthening the
ews about mobile payments usually focuses loyalty and profitability of key consumer segments that
on the opportunity of in-store payments using are predisposed to the mobile channel, including Gen Y."
mobile phones at the POS. But recent Fiserv
N Inc. research suggests financial institutions First three first
(FIs) should focus on the more immediate and lucrative
money transfer realm that involves person-to-person (P2P) The m-payments game plan begins with companies
and person-to-business (P2B) payments. making strategic investments into the first three pillars.
Fiserv said mobile solutions should allow consumers to
In an April 2014 white paper titled The Four Pillars of Mobile transfer money to internally- and externally-held accounts,
Payments – Immediate Opportunities, the transaction make P2P transactions, and facilitate P2B payments via
processor for FIs stated the four building blocks of an mobile remote deposit capture technology.
m-banking/payments strategy are paying: Then, enterprises should build support for loyalty and
1. Self rewards programs to lay the groundwork for consumers'
2. Other people adoption of mobile wallets and proximity payments. "This
3. Billers will increase the likelihood of consumers seamlessly
transitioning from mobile banking to mobile proximity
4. Merchants/retailers payments," Fiserv said.
Fiserv's 2013 consumer trends survey found that 30 million
U.S. households use mobile banking services, up 22 percent The processor noted that FIs are by far the most trusted
from 2012. The most popular m-banking/payments uses are financial service providers when it comes to the mobile
viewing account balances, transferring funds and viewing realm, citing Ovum research that said FIs are trusted by 43
monthly statements. Thus, service providers should center percent of consumers, compared with 13 percent for credit
on facilitating these types of activities first. Fiserv stated, card issuers, 9 percent for online payment providers and
"By focusing on the three pillars of mobile payments that 6 percent for mobile operators. Therefore, FIs can leverage
consumers are already using – paying self, paying others their existing relationships with consumers to gain a
foothold into m-payments today and into the future.
25
