Mobile Payment, Mobile News, Mobile Remittance, Mobile Solutions, Mobile Technology, Mobile Coupons » Mobile Commerce http://www.ovsea.com Mobile Payment, Mobile News, Mobile Remittance, Mobile Solutions, Mobile Technology, Mobile Coupons Mon, 06 Dec 2010 05:12:08 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Mobile Commerce Replaces Wallet http://www.ovsea.com/mobile-payment/mobile-commerce-replaces-wallet/ http://www.ovsea.com/mobile-payment/mobile-commerce-replaces-wallet/#comments Tue, 23 Feb 2010 13:33:13 +0000 mobile news http://www.ovsea.com/?p=123 commerce (m-commerce) is basically an extension of e-commerce on the which enables consumers to make payments for goods and services directly from their phones. This gives the consumer the benefit of making payments from anywhere without the hassle of physically being present at a store, standing in a line or turning on a PC to transact online.

m-commerce replaces wallet
An m-commerce consumer has the flexibility to use the as a replacement to a wallet and make payments at a physical location, online or even remotely. Users can buy movie and flight tickets, pay utility bills, recharge their prepaid balances, book hotels and cars, send gift vouchers and even donate to charity directly from their phones thereby eliminating the process of using credit cards for online shopping, thus making the transaction far more secure.

The payments can be made by authenticating payments through services providers using the via SMS, GPRS, BREW and IVR.

The only difference between e-commerce and m-commerce is that while e-commerce is limited to PC users with an internet connection, m-commerce can use technologies as simple as SMS and IVR among other things therefore being available to the entire carrying population. With penetration at 10 times of the PC penetration, and expected to become one billion by 2012, it won’t be long before India will become a very large player in the m-commerce  space — explaining why many people see m-commerce akin to e-commerce on steroids!

Easy payments
The main benefit is the convenience of making a from anywhere in addition to providing an additional layer of security over existing banking instruments. The solution not only provides a comprehensive platform with a vast ecosystem of online and physical merchants, travel and entertainment verticals, billers and banks accessible from any handset or operator, it ensures utmost simplicity while factoring in high security standards across the entire transaction life-cycle.

Secure transactions
Security is a major issue addressed by m-commerce as its service provides complete security in transactions — PCI DSS 1.2, PA-DSS and Union government’s Cert-IN certified. These are the most stringent security standards adopted by the global payments industry. transactions through the service providers add an additional layer of security enabling a customer to make a purchase without ever revealing any sensitive information.

Every transaction is authorised with a four digit PIN which is punched into the customer’s over an automatic, secure IVR call-back and there is no manual intervention whatsoever. This process ensures that there is complete control and security and practically eliminating the chances for frauds. Even if the were to get stolen there is so no way that one can misuse the account without the PIN.

RBI hikes transaction limit
A year from its issue of a set of guidelines for banking transactions, the RBI has provided a fertile environment for payments by revising the guidelines and raising the transaction limit to Rs 50,000 per day for purchase of goods and services from the earlier cap of Rs 10,000. To facilitate the use of phones for remittances of cash, RBI has even allowed banks to provide fund transfer services from the accounts of their customers for delivery in cash to the recipients.

Easy fund transfer
The disbursal of funds to receiver can be facilitated at automated teller machines (ATMs) or through business correspondents appointed as agents by the banks. The maximum value of such transfers is capped at Rs 5,000 per transaction and customers can remit a maximum of Rs 25,000 per month through this service.

The new guidelines mean that the process of P2P money transfer will become even faster and easier. As the receiver no longer needs to have a bank account as a pre-requisite, he or she can simply collect cash at the nearest bank or business correspondent. This opens the market up in terms of the number of people you can transfer money to in an instant as one is no longer limited to intra-bank transfers.

The solutions provider has always been an advocate of using the SMS as the transaction authorisation protocol for all financial transactions over the . On the financial inclusion side, if we go strictly by Dr Raghu Raman’s recommendations of creating a National Electronic Financial Inclusion System (NEFIS), then the backbone of such a system would be in its ability to carry out small value transactions (Rs 100) at limited transaction cost (sub Rs 1). And, the only way that can be done on a mass acceptable basis is via SMS, which is the single most pervasive feature in the technology revolution, cutting across all SECs, geographies, handset vendors, MNOs, etc.

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]]> http://www.ovsea.com/mobile-payment/mobile-commerce-replaces-wallet/feed/ 1 MasterCard Launches MasterCard Mobile Payments Gateway to Spark Mobile Commerce Globally http://www.ovsea.com/mobile-payment/mastercard-launches-mastercard-mobile-payments-gateway-to-spark-mobile-commerce-globally/ http://www.ovsea.com/mobile-payment/mastercard-launches-mastercard-mobile-payments-gateway-to-spark-mobile-commerce-globally/#comments Mon, 16 Nov 2009 11:10:57 +0000 mobile news http://www.ovsea.com/?p=73 MasterCard today announced the introduction of the MasterCard Payments Gateway, a payments processing platform that enables financial institutions and network operators to deliver end-to-end payments solutions through the MasterCard Worldwide Network.

Itau Unibanco and Redecard, along with network operator Vivo, will be the first to use the MasterCard Payments Gateway to deliver solutions to the banks’ customers in Brazil. The service will give consumers the ability to use their as a wallet and link their existing credit, debit or prepaid MasterCard or Maestro card accounts to their to fund -initiated payments.

The Payments Gateway is a turnkey processing platform that allows issuers, acquirers, merchants and network operators to quickly and cost-effectively provide customized solutions in developing payments markets by tapping into the MasterCard Worldwide Network, the payments industry’s only fully globally integrated network. As a result, banked and unbanked consumers gain access to a wide range of MasterCard payments solutions that provide greater convenience and security over cash–using their to make purchases, send and receive money between family and friends, transfer funds between accounts, pay bills, deposit funds such as payroll or social benefits, top up airtime, load value to prepaid accounts, get cash from ATMs, and keep track of their balances and activities with alerts.

MasterCard is working with Smart Hub, Inc. (SMART HUB, a subsidiary of Philippine-based Smart Communications, Inc.) to leverage its payments technology to develop the MasterCard Payments Gateway. Requirements for development of a payments infrastructure vary from market to market. By integrating SMART HUB’s capabilities, MasterCard has created an open processing platform through the MasterCard Payments Gateway to facilitate the launch of MasterCard solutions in developing markets.

MasterCard is helping to transform financial services with innovation to fulfill a global market need. Consultative Group to Assist the Poor (CGAP), an independent policy and research center housed at the World Bank, and the GSMA Association report that there are more than 4 billion people worldwide who have a , but far fewer users have a bank account- with the number to grow from 1 to 1.7 billion by 2012(1). The Payments Gateway enables them to benefit from secure and convenient services that were previously unavailable to them. At the same time, participants in the payments value chain can realize the significant potential for growth outside of the markets they traditionally serve–providing opportunities for financial institutions to introduce and financial services to unbanked consumers and network operators to offer value-added services for payments.

“The Payments Gateway will help to make payments a way of life for users around the world,” said Joshua Peirez, group executive of Innovative Platforms for MasterCard Worldwide. “Through our global, integrated network we are efficiently connecting financial institutions, merchants and consumers together to mobilize MasterCard solutions in a way that truly reflects today’s on-the-go lifestyles.”

“We are pleased to introduce a payments solution that reinforces our innovative positioning in the market,” said Fernado Teles, managing director, Itau Unibanco Holding. “For Itau, it is important to not only bring cutting-edge products but also ensure that it offers our customers the security and convenience they expect from a banking transaction.”

“The MasterCard Payments Gateway is complementary with the existing Redecard solutions and we are honored to be part of this project,” says Roberto Mediros, President and CEO of Redecard. “This platform reinforces our leadership in payments solutions. This is a breakthrough for payments around the globe. Democratization and innovative solutions have always been priorities for Redecard and the MasterCard Payments Gateway is precisely aligned.”

“Vivo, the largest operator in Brazil with over 48 million customers, is a natural choice for this partnership, due to its installed user base and broad service outreach, in more than 3,400 cities nationwide,” according to Hugo Janeba, Vivo’s Executive Vice President of Marketing and Innovation. “This is an important service we are glad to offer to our customers, empowering their connectivity so they can make the most out of their phones. The payments market is an expanding opportunity in the local scenario and we are sure this initiative will be a success.”

“While in the region there are some payments solutions in the market that help unbanked users transfer money or top-up prepaid accounts, these solutions have been limited in providing the breadth of transaction services for the underserved consumer to completely manage their finances,” said Richard Hartzell, president, Latin America and the Caribbean region, MasterCard Worldwide. “I am pleased that the Latin America and Caribbean region will be the first to offer the MasterCard Payments Gateway, which will benefit every constituent in the payments ecosystem–helping financial institutions and network operators reduce their operating expenses and costs to serve consumers while enabling merchants to cost-effectively expand acceptance using their . This will allow consumers to enjoy a more robust suite of services that makes their lives easier.”

Following the launch in Brazil, MasterCard will introduce MasterCard payments solutions through the Payments Gateway in select markets around the world.

“Successful growth of payments around the world requires participation, communication and collaboration among all members of the payments value chain,” says Napoleon L. Nazareno, President and CEO of Philippine Long Distance Telephone Company and Smart Communications, Inc. “We are excited to build upon a successful history with MasterCard to advance payments innovation in the industry by delivering compelling solutions that combine the global MasterCard brand and world-class network with our extensive digital telecommunications capabilities and world-first wireless data services.”

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]]> http://www.ovsea.com/mobile-payment/mastercard-launches-mastercard-mobile-payments-gateway-to-spark-mobile-commerce-globally/feed/ 0 Mobile coupons – the new couponing standard http://www.ovsea.com/mobile-coupons/mobile-coupons-the-new-couponing-standard/ http://www.ovsea.com/mobile-coupons/mobile-coupons-the-new-couponing-standard/#comments Fri, 28 Aug 2009 07:38:50 +0000 mobile news http://www.ovsea.com/?p=7 Margento Mobile Coupons is is flexible couponing solution, enabling both pull and push coupons distribution methods, various easy and fast coupon program enrolment scenarios and convenient coupon redemption.

coupons are coupons in a digital format, not paper, and created, distributed, redeemed and tracked via Margento System and people using their phones.

Because of phones ubiquity and the fact that they are almost always by a person’s side, by default, coupons are available at pretty much anyplace and anytime.

Margento is well aligned with short- and long-term trends in the coupons industry:

1. Couponing is on the rise – whenever there is economic hardships, coupons usage increase.
2. While retailers are continuing and even accelerating their discounts offering, they make coupons restrictive by imposing shorter redemption duration periods and more purchase requirements to use the coupon.
3. From paper to digital coupons – Over 90% of coupons used today are offline coupons: newspaper coupons and those mailed directly to you. However, with growing online commerce, more and more people are using online coupons. With Margento, you can send coupons directly to your customers cell phones, freeng them the above mentioned hassle.
4. Connecting online coupons with existing store-loyalty programs – Most shoppers already participate in retailers’ loyalty programs. Margento enables retailers to easily integrate loyalta, coupons and even gifts programs.
5. commerce innovations – Next to loyalty programs Margento offers complete software and hardware solutions to facilitate mobile payments. Thus, Margento is creating next generation of payments and coupons redemption solutions, that are available now.

Mobile couponing is gaining ground. With Margento, it is already here. It brings relevant information to shoppers who can make informed buying decisions resulting in cost savings and shorter buying process. It allows retailers to reach their customers easily and cost-efficiently, driving their sales and building their brand.

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