News & Views - Savantor

Mobile Money variants

Monday, 31 January 2011

There was a raft of articles recently on various aspects of Mobile Money and the different organisations showing interest in the technology ranging from banks to phone operators to retailers and the omnipresent Google and Apple. We hear that Barclaycard using PayPass will handle transactions for Orange’s contactless payments system later in the year whilst Apple could introduce its own payment system for iPhones, iPads, etc. Meanwhile Google has identified the development of mobile money platforms as a key strategic priority in 2011.

Other organisations are getting their own variants online. Earlier this month Britain’s first rail ticket app was launched on the Heathrow Express. Passengers can download an app to their iPhone to use instead of paper tickets. Once the app is installed the user can pay for the ticket with a card and receives a QR code which can be read by the ticket inspector’s reader. Starbucks are also rolling out a similar system using QR codes and whilst it is likely that none of these will be the silver bullet, they are indicative of a trend and also help to bring the whole mobile (rather than contactless card) payments concept front and centre with the consumers. It could be a disruptive year in the best sense of the term.

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