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 Wednesday, May 31, 2006
 Posted by Roberto
 6:24 PM   0 comments   

MPAYMENT AND CREATIVE USES OF MOBILE TECHNOLOGY

Juniper Research estimate that mPayment will be worth $88 billion by 2009, with 44% going on ticketing, but only $299 million on actual retail sales.

Japan, Korea, Austria, Croatia, Spain, Norway and Singapore lead the way in mPayments. In Vienna, some 7500 parking payments are made by phone every day, while in Croatia as much as 75% of local parking is by mPayment in some areas.

In Japan, 86 million Japanese own cell phones (70 percent of the population). Consumers buy 45 million cell phones a year, and newer models are laden with all kinds of functions, including navigation tools, video cameras, digital music players and a multitude of e-wallet features that limits the need for cash and credit cards. In Japan, the phone is the lifestyle manager and replacement of the 10 most common things you take with you every day including wallet, credit cards, ID, drivers' license, keys, etc. It's not unusual, for example, to see pedestrians sidle up to concert posters and use their mobile phones to read small bar codes. Magazine ads, publicity fliers and bus stops often have bar codes that allow mobile users to arrive at Web sites to make purchases or see information, pick out seats or buy tickets.

REPLACING SMALL CASH, CREDIT CARDS, ID CARDS AND KEYS
Some 20 million Japanese now have newer cell phones with embedded circuitry that can function as rechargeable debit cards, credit cards or commuter passes. Electronic readers in vending machines, turnstiles and store registers beam waves that read the circuits and deduct what's due. Already, 30,000 vending machines, taxis and convenience stores have readers for the wireless credit phones, and the number may climb to 100,000 by the end of the year. People enjoy the e-money system: at convenience stores customer lines move faster and at the rail network there is no need to count coins.

THE LUUP MPAYMENT SOLUTION
May, 2006 - LUUP, the first payment system specifically for mobiles, launched in both the UK and Germany. LUUP (called LUUPAY in Germany) allows consumers to use their mobile phone like a wallet to shop with retailers or send and receive money on a person-to-person basis - with cash, debit/credit card and bank account functions built-in. LUUP is designed specifically for mobile phone use and is fully independent of mobile phone operators. LUUP accounts are available to anyone over the age of 14 and are created instantly by SMS with full registration completed through an easy sign-up process on the LUUP website. LUUP is fully integrated with the UK and German banking systems allowing funds to be accessed from credit cards, debit cards and bank accounts. With LUUP, merchants typically pay under 10% transaction fees compared to the Premium SMS operator fees which are normally in excess of 25%. Additionally, the purchase process is transparent to consumers who can view all LUUP account activity online in real time helping alleviate consumer concerns about unfair charges.
LUUP
Resolution on Mobile Commerce

TV BROADCASTERS VS. CELLULAR CARRIERS
Television broadcasters love to broadcast TV channels to mobile devices because they can boost advertising fees. The funny aspect is that if we have free television on our mobile phones, we might end up making fewer phone calls :)

MPAYMENT = BANKING IN RURAL AREAS
In the Philippines, mPayment is bringing banking to the previously un-banked in many rural areas, and making P2P (peer-to-peer) tiny micro-payments of as little as 5 cents possible. Some 3.5 million people now use it, and the economy, individuals, retailers and financial service providers alike are all benefiting. The lack of previous banking or payment infrastructures is a significant enabler here, and shows the potential for other less developed countries and un-banked populations.

 
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