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MPC 2014: Execs Discuss Expectations
It might have been the last session Tuesday for the 2014 Winter Mobile Payments Conference, but it produced some eyebrow-raising comments from at least one panelist.
Karl Weaver, formerly of Gemalto and founder of Newport Technologies, uttered perhaps the most controversial remark during the day’s final session about the realities of NFC. He doesn’t believe the telecoms that are trying to get involved in NFC-enabled mobile payments have security as a priority:
“The MNOs are putting security second, and profit first.”
That said, Weaver is firmly behind NFC and believes the technology will win out in regards to mobile payments. He cited NFC’s widespread use in portions of Asia that show the technology is not just a niche. In the United States, Weaver believes Isis can become widespread if it can work with the banks. He also warned the banks need to wake up in regards to NFC mobile payments:
“The banks need to reinvent their business model and work with transit and the MNOs [to make NFC work for them].”
Executives speaking at the MPC tackled various topic related to mobile payments (and acceptance) and where they stand at the start of 2014.
Amol Deshmukh, vice president of mobile financial services for Gemalto, also gave worldwide examples of mobile-payments success but did warn companies can’t take a one-size-fits-all approach:
“What works in a lot of foreign countries doesn’t work in the U.S. You can’t change user behavior overnight. It will take time for non-early adopters to adjust. Just because we put mobile services out there, doesn’t mean you overshoot expectations.”
Another noteworthy remark from Deshmukh was consumers don’t have a clear view of which mobile services to use because there are so many of them to choose from.
Some other noteworthy remarks Tuesday came from Brian Hamilton, who is the senior vice president for Capital One’s national small business digital and mobile platforms. Hamilton said we won’t have a true mobile wallet until identification and insurance cards are made digital: “For now, I’m still going to need to carry a physical wallet.”
Source: http://mobilemarketingandtechnology.com/2014/01/31/mpc-2014-execs-discuss-expectation/
