Tag: mobile payments

Visa and Monitise look to expand mobile payments throughout Europe

| March 10, 2013

Mobile Payments Partnership EuropeVisa and Monitise extend mobile payments partnership

Visa has announced that it is expanding its partnership with Monitise, a mobile payments company. The two companies have been working to expand the reach of mobile commerce throughout Europe and have been met with promising success thus far. Visa now aims to extend its partnership with Monitise through a new three-year commercial agreement. Per the agreement, the two companies will continue expanding into the European mobile commerce market, developing new mobile payments solutions that are designed with financial institutions in mind.

Mobile commerce is growing more popular among financial groups due to consumer demand

Mobile payments have been a relatively easy sell to consumers. Many people have shown  their willingness to use their smartphones and tablets to purchase goods and services. The concept has been more difficult to sell to financial institutions, which are more concerned with the risks associated with mobile commerce rather than its convenience. Despite these concerns and a reluctance to support mobile commerce, many European financial institutions are seeing rising demand from customers concerning mobile payments. Thus, these organizations are beginning to take steps to accommodate the wants of their customers.

New solutions to be introduced to European market

Through the agreements, Visa will be able to make use of mobile technology developed by Monitise. This technology will be put to use in the development of new mobile payments solutions. As these solutions take form, Visa will help promote them to European markets as well as help ensure that these solutions are secure against the threats that exist in the mobile world. Visa and Monitise have already deployed mobile payments services to more than 3,000 banks and financial institutions in Europe and the two companies are expected to look to take advantage of this momentum.

Visa and Monitise seek to dominate Europe with mobile payments

Visa notes that the way people pay for goods and services is changing. More people have access to smartphones and tablets than ever before and these consumers are finding that mobile commerce offers them a convenient and safe way to make purchases. Visa and Monitise will work to continue establishing their commanding presence in the European market, hoping to fortify themselves against competing parties that are looking to do the same.

Mobill aims to bring mobile payments to India

| March 9, 2013

Mobile Payments IndiaMobill teams with Sterna Security to promote mobile payments services in India

Swedish mobile commerce firm Mobill has announced that it will be establishing a new development center in India. The company has teamed with Sterna Security, a mobile security solutions firm based in India, to develop a new mobile payments system for the Indian market. India is quickly becoming a very attractive market in terms of mobile payments, due to the growing number of people that have access to mobile devices like smartphones and tablets. Mobill is interested in establishing a strong presence in the market to take advantage of the growing popularity of mobile consumers among Indian consumers.

Mobile commerce sees growing demand from Indian consumers

Mobile payments are considered a more convenient form of commerce for many people in India and consumers have been demanding for new commerce services in the country for some time. Mobill believes that the market is ready for a new generation of mobile payments solutions that can be used to purchase goods and services. Mobill is expected to put much of its efforts in the Indian market on the country’s public transportation system. The company claims that 80% of Sweden’s public transit operators make use of its M-Ticket service, which distributes digital tickets to commuters throughout the country in an efficient manner.

Security to be a major focus for Mobill

Security will be a major focus for Mobill, especially as the company looks to establish a foothold in the Indian market. Mobile payments are not just growing in popularity among Indian consumers, they are also becoming attractive targets for hackers. Mobile devices are beginning to traffic a large amount of financial information, which can be stolen and exploited by malicious parties. In teaming with Sterna Security, Mobill aims to address the mobile security concerns it has in regards to Indian mobile payments.

Mobill expected to compete with others in attractive Indian market

Because India has become a very attractive mobile commerce market, Mobill is expected to see competition from other companies looking to promote mobile payments services among consumers. Google is currently the largest competitor in the field of mobile commerce. Despite Google’s seemingly all encompassing presence, many consumers have shown their willingness to make use of mobile commerce services offered by other companies, which may bode well for Mobill’s future in India.