The growth of Mobile Payment: updates and curiosities

IambOO’s main area of expertise is cybersecurity, in each and every aspect and application. There’s one particular aspect that can be defined as the second “main” area of expertise that IambOO got specialized during the last 10 years, that is mobile payment.

A few months ago, we told you in this article of how the huge growth in numbers during these last years made it possible to mobile commerce and mobile payments systems to be more accessible.

Ovum (a leading marketing research company) estimated mobile commerce global users to reach 2 billion by 2019, transactions’ total value being the one to grow from 50 billion (2014) to 700 billion (2019) – we are talking about transactions that are made through smartphone and tablets, and a global users’ base of nearly 5 billion.

Mobile payment can be put in 2 different plans: the technology used to develop it and the place where the transaction is made. These two variables make it possible to differentiate some different kind of mobile payments:

- Mobile Remote Payment: Remote payments, and this is not necessary to be close for those who want to make purchases or exchange some money. Wireless is needed in order to use these services and payments can be made by sending a sms, by navigating on optimized mobile sites or mobile apps.

- Mobile Proximity Payment: Mobile Proximity Payments are payments purely made by proximity, meaning payments must be made ONLY through physical proximity between the buyer and the wanted product/service’s seller. Transactions can be made thanks to contactless system, and you are allowed to make them through a mobile device (mobile phone, PC, Smart Display, etc.), by the “exploitation” of short-range wireless transmissions.

- Mobile Remote Commerce: This particular service includes purchases through mobile site or goods and services mobile apps in which the purchasing process is made through this channel, by charging one’s credit card or e-purse.

- Mobile Proximity Commerce: Unlike the previous service we’ve just described, we are referring to services that support the purchasing experience in physical shops (i.e. coupons, loyalty’s services through smartphones).

- Mobile Money transfer: this solution makes it possible to transfer money without a real good and services exchange. This way one’s phone net (to make long-distance transfers) can be used – through sms or specific apps), so can short-range proximity technologies (i.e. Bluetooth).

Throughout the years, IambOO needed to fulfill two main needs: the first need was having a customized mobile payments solution, while the second one was to develop a customized mobile app to make proximity payments.

Regarding electronic payments, IambOO’s know how in terms of security allowed the planning and development of innovative ideas and solutions to make electronic payments. Our Company’s objective has always been to give our customers some cashless payment options that could be consistent with all kind of mobile platforms, and, at the same time, that could better customer experience and that could grant absolute operations’ security.

Regarding proximity payments apps (Mobile proximity payment) IambOO develops specific apps (NFC, Bluetooth, WiFi), supporting our customer in the search of the best payment experience for its customers, on every device through which they decide to be connected to.

Predictably, during the last few months, mobile payment’s market’s growth has kept steady. Here are the best news and or curiosity we all need to know!

Google Pay: Big G’s Mobile Payment

Google Pay - that we’ve come to know since September 2018 – is Google Mobile Payment app. It can be used for daily purchases or during a night out, Big G’s app allows payment on 3 conditions:

You have to own an Android Smartphone;

You have to download Google Pay and link your credit – debt – prepaid card to it;

You have to find shops that allow NFC/contactless payment.

Here we have some of them: Autogrill, Bennet, Esselunga, H&M, Leroy-Merlin, Lidl, McDonald’s, Profumerie Douglas and underground network’ ATM in Milan.

Huawei pay has been launched in Europe, and it started a partnership with Visa

Here’s a very fresh news about the new partnership between Huawei and Visa, that will “use” token’s technology in order to work smoothly.

This service has already been working (well) elsewhere since 2016, but it will be launched in Europe only in 2019: “Thanks to smartphones’ diffusion, payments are more and more strangers to places and stores” Says Andrea Fiorentino, Visa’s Head of Product and Solutions Southern Europe “Non-conventional players have created original experiences, which are suitable to cashless-oriented economies and where you can pay 24/7. Huawei Pay arrival in Europe, each Visa’s owner will be able to pay easily, quickly and safely”.

Alipay – Tinaba axis: Chinese Tourist will be able to use e-payment in Italy

Alibaba and fintech supported by Banca Profilo have confirmed their partnership at the end of November. Alipay, the mobile payment platform managed by Ant Financial Services Group (a member of Alibaba Group), joined forced with Tinaba, the digital ecosystem that allows money’s management, supported by Banca Profilo’s banking and financial services, in order to allow the ever-growing number of Chinese tourists to pay with their mobile app Alipay with the agreed shopkeepers Tinaba.

Alipay counts now more than 700 billion active users, and it’s the most used mobile payment application in China. Alipay revolutionized the way everyone shops and the way everyone uses one’s services through QR Code owned by the shopkeepers.

Costa and chips inside cups: technological evolution meets environmental sustainability

The biggest UK coffee shops chain joined forces with Barclaycard to put a chip into the recyclable cups, allowing customers to pay up to 30£ everywhere contactless cards are accepted with a simple cup touch! The “paying” cup has got a contactless chip Barclaycard bPay, which is combined within the base made of silicone rubber; the coffee chain main goal was to encourage the use of recyclable cups instead of the wastable ones. Since the cups “exploit” the contactless payment standard technology, they can be used everywhere open-loop, contactless cards could work, to access to public transports (such as metro and buses in London).

“Buyers nowadays are looking for easy and seamless payment methods” says Rob Morgan from Barclaycard. “Our wearable chip technology allows every (or almost) add-on to be turned into a smart payment device, showing all the benefits of speed and buying ease in everyday purchases.”

The examples exposed till now show us a constantly evolving world. New up-to-date solutions are needed in order to be able to cope with the fast mobile-commerce world. This is the reason why IambOO supports its customers in the realization of personalized solutions: the spread of new payment tools (NFC, Bluetooth, Wifi) and the development of mobile payment methods.