Transcript Slide 1

Mobile Commerce 101
Presented by the Women In Wireless Mentoring Committee
of the Mobile Marketing Association (mmaglobal.com)
Lisa Stanton, CEO, Monitise Americas
John Mavraides, Director of Business Development, VeriSign
Moderated by: Suni Vaidya, Board Member, dcMoMo
Agenda
• Brief Introduction
• Business Drivers for mCommerce
• Worldwide Mobile Financial Ecosystem
–
–
–
–
Ecosystem for Mobile Banking via SMS
Application Vendor Overview
Mobile Money Management
Deployments in the U.S.
• Client Examples
• Q&A
2
Business Drivers for mCommerce
• Enhance customer convenience and sense of security
– Mobile banking for anywhere, anytime banking
• Self-care
• Bill payment
• Mobile alerts for real-time account activity updates
– Enhanced security measures for potential theft or fraudulent activity
• Lower support costs while improving customer service quality
– Significant reduction in call center call volumes through self-service
capabilities
108 million Americans will be mobile-banking customers within the next four years.
Source: Javelin Strategy & Research, 2008 US Mobile Banking Benchmark Study
7% of consumers say that it is either somewhat or very important to have real time access to
their account information – 53% say it’s even more important in the current economy.
Source: MaCorr Research, November 2008
3
Worldwide Mobile Financial Ecosystem
4
Ecosystem for Mobile Banking via SMS
Back-end
Applications
Application
Vendors
Aggregator
Retail Banking
Account
Management
Connection to
carriers
Credit Cards
Wholesale
Banking
Wireless
Carriers
All Domestic
Tier 1, Tier 2 and
Tier 3 carriers
Handsets
Cellphone
PDAs
Smartphones
Back-end Integration
2-way Actionable
Alerts
Message
Tracking
International
Carriers
Pagers
Multi-mode
Delivery
Transactions
Shortcodes
5
Mobile P2P Landscape
Application Vendor Overview
Domestic Transfers
Cash Edge
ZoomPass
mPay
PayPal
Carrier-Oriented
Obopay
mCom
MasterCard
Mobile Money
Send
mCheck
Bank-Oriented
Monitise
Fundamo
Affinity
M-Via
Western Union
Source: Javelin Research 2009
International Transfers
6
Full Mobile Money Management for Today and Beyond
Access
•
•
•
•
Downloaded Application
SMS
Mobile Browser
iPhone
Registration
•
•
•
•
•
Website
Internet Banking
Handset
Call Center
Apple App Store
Account
Management
Payments
Shopping
Remote
• Transfers
Coupons & Vouchers
Account Info
• A2A Payments
Merchant Payments
Mobile Wallet Mgt
• P2P Payments
Retail Offers
Set & Manage Alerts
•Bill Pay
Event Ticketing
Threshold Alerts
• Remittances
Transit Ticketing
Authentication
• Reloads
Online Shopping
Sales & Service Messages
• Actionable Alerts
Mobile Shopping
CNP Authentication
Proximity
• NFC Payments
• NFC Coupons
• NFC Ticketing
• NFC Value Reload
7
Mobile Financial Deployments in U.S.
• Mobile Banking / Alerts
– Account information (e.g., balances)
– Alerts and Notifications
• 2nd Factor Authentication
– Reduce online banking fraud
– Reduce identity theft
• mCommerce
– P2P Remittance
– Bill Payment
8
> > CASE STUDY
> > HIGHLIGHT
• VeriSign enables SMS banking services for the
top 3 US banks— including the first major US
bank to launch mobile banking services
• Within seconds of sending a text message to a
shortcode, customers receive the account
information via secure technology
–Balances for all their accounts
–The last five transactions of their checking,
savings or credit card
–Outstanding balances and available credit
• VeriSign enables secure mobile delivery of userspecified transaction alerts, balance
information and reminders
–One time pin for multifactor authentication
and wire transfer identity verification
–Direct 2-way connection to most US carriers
–Dedicated account team, 24/7 support
• 25% month over month SMS traffic growth
since October 2007, 9 shortcodes
9
> > CASE STUDY
> > HIGHLIGHTS
• The SafePass, launched in Sept’07, is Bank of
America’s strongest protection in guarding against
Online Banking fraud and identify theft
• VeriSign enables the SafePass mobile
authentication service for Bank of America
–Customer signs in to Online Banking, registers a
mobile device and requests a SafePass code
–The SafePass system, which uses
authentication technology developed by
VeriSign, sends a 6-digit code to the customer's
mobile phone
–Customer opens the text message, enters the
code online and completes the transaction
–The code can be used only once, and it expires
10 minutes after being issued
• The SafePass code is used for certain types of
online banking activity such as securely adding
new payees for Bill Pay, transferring large amounts
of money or logging on from a new computer
• SafePass works in conjunction with Bank of
America’s SiteKey anti-phishing technology
• According to Bank of America, the SafePass helps
crack down on so-called Trojan software attacks
10
> > CASE STUDY
> > HIGHLIGHTS
•
•
•
•
VeriSign enables PayPal 2-way mobile text
messaging services in the US, UK, Canada,
Germany, Austria and Australia
Check PayPal Balance: Text “bal” to 729725
(PAYPAL). You receive a text message with
your account balance.
Send Money: To initiate, send a text to
729725 (PAYPAL) with the amount and the
phone number or email address (e.g., send
10 to 4085552388, 10 4085552388 or send
10 to [email protected]). Actual transaction
is completed via IVR or Web.
Request Payment: To initiate, send a text to
729725 (PAYPAL) with the amount and the
phone number (e.g., get 5 from
4085552388). Your friend gets a text request
for money. When he/she confirms the
payment, you get paid. Actual transaction is
completed via IVR or Web.
11
> > CASE STUDY
> > HIGHLIGHTS
The H&R Block Emerald MasterCard – Consumer
Alerts Pilot
–
Partnered with Metavante and Monitise
Americas to pilot in 2 markets starting 1/09
–
“Add Funds” and “Balance Inquiry” alerts
–
Exceeded forecasted enrollment by 73%
–
On average, each enrolled cardholder generated 5
alerts in a 3-month time period
Outcomes
Client convenience
No need to call the IVR or speak to a customer
service agent
Clients receive immediate text alerts when funds
are loaded to the card
Clients can conduct balance inquiries to check
available funds at any time
Client satisfaction
Increased cardholder satisfaction
Increased card usage, reload and tax preparation
retention
Expense reduction
Reduce the expense and number client calls to the IVR
Reduce the expense and number of agent assisted calls
12
Q&A
13
Thank you!
For further questions, please contact:
Panelists
Lisa Stanton, CEO, Monitise Americas, [email protected]
John Mavraides, Director of Business Development, VeriSign, [email protected]
Moderator
Suni Vaidya, Board Member, dcMoMo, [email protected]
Mentoring Committee Chairperson, Women in Wireless, MMA
Veronika Sonsev, VP Global Business Development, JumpTap, [email protected]
Mobile Marketing Association
Kristine van Dillen, Director, Industry Initiatives and Partnerships ,
[email protected]
Special thanks to Mary Nelson, mBlox, and Rebecca Warzycha, Monitise Americas, for their
assistance in planning this webinar.
14