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Mobile Payments revolution
1. The Mobile Payments Revolution
Pragati Ogal Rai
Chief Technology Evangelist, PayPal
@pragatiogal
2. Technology + People = Technology Engagement
14+ development experience
Author of “Android Application Security Essentials”
Mobile & security expert
Thought Leader
Mobile Developer Relations, North America
5. Founded in 1998, PayPal allows payments and money
transfers through the Internet
6.
7. Logos!
PayPal processed $14 billion in mobile payment volume in 2012 – more
than 3 times the mobile payment volume of $4 billion it processed in 2011.
In 2012, eBay generated $13 billion through mobile devices, an overall
increase of 120% from 2011. eBay expects to transact $20 billion in 2013.
8. On Black Friday and Cyber Monday mobile commerce volume via eBay mobile in the U.S. more
than doubled in 2012 compared to 2011. http://www.digitaltrends.com/
9. M-payments is a Global Phenomenon
In Q4 2012, 60% of eBay’s mobile purchases came from outside the U.S
www.centives.net
PayPal’s international business accounted for more than half of total revenue in 2012
12. Consumer Behavior is Changing Commerce
Promotions &
coupons
Mobile
commerce
Payments
Location-based
services
In-store
research
Self-scanning &
self-checkout
Social commerce
Loyalty
Mobile shopping
lists
16. What are Mobile Payments?
• Consumer uses a mobile device
• Merchant uses a mobile device
• Both consumer & merchant use a mobile device
How do you define mobile payments?
17. Remote Mobile Payments
• Send and request money
• SMS based payments
• Mobile banking
• Application/ Browser based payments
• Carrier Billing
Fahad.com
18. Proximity Mobile Payments
• Barcode Scanning
• Point of Sale
• NFC
• Bluetooth
• RFID
• Accelerometer
Wikepedia.org
19. Your Definition of Mobile Payments
What does a Merchant want?
• Quick, easy, hassle free
• Security compliance
• Fraud prevention systems
• Current and up to date system
• Reliable
• Pricing
What does a Consumer want?
• Fast
• Secure
• Easy
• Choice of payment providers
30. PCI Standard Council
• Independent organization
• Develop common set of payment standards
– PCI-DSS v2.0
– PCA-DSS
– PCI-PTN
– PCI-P2PE
31. Innovation in Hardware Space
http://gadgetian.com/44495/google-lg-nexus-4-4g-lte-chip-inside-ifixit/
32. TrustZone: Trusted Execution Environment
www.arm.com
• Two domains: Normal & Secure
• Implemented as SoC
• Security extensions to processor
• Trusted OS
• Virtualization
33. Mobile brings New Use Cases
Promotions
&
coupons
Location-based services
In-store
research
Self-scanning &
self-checkout
Global Social Commerce
Loyalty
Online Commerce
Mobile Wallet
Shopping Lists
34. Changing Form of Payments
• Money becomes more abstract
• Digital goods
• Anonymous payments: Bitcoin
Less cash society Cashless society
35. Future Predictions!
"We expect global mobile transaction volume and value to average 42
percent annual growth between 2011 and 2016, and we are forecasting
a market worth $617 billion with 448 million users by 2016,"
Sandy Shen, research director at Gartner, May 2012
36. Summary
• Mobile payments is a global phenomenon
• Define what mobile means to your business
• Think beyond the hype
• Security, trust, and safety is of paramount importance
Barcodes are used for two purposes: generating communication for payment and loading prepaid gift cards into wallet.
Build and maintain a secure networkMaintain vulnerability management programImplement strong access control measuresProtect cardholder dataRegularly test and monitor networksMaintain an InfoSec policy
The way consumers are shopping is changing. The adoption of smart phones are allowing consumers to control how, when, and where they shop. Consumers have more leverage.