This month's Deep Dive meeting brings together thought leaders in the Payments ecosystem to discover new technologies, network, and exchange insight. In true Telecom Council style, our Deep Dives are short, packed, interactive discussions with top-notch networking.
Silicon Valley, California, Mar 20, 2015/Meeting Recap/ The mobile payments industry is ripe for disruption, yet adoption challenges still remain – so agreed six start-ups and four panelists and over 80 attendees at the Telecom Council Deep Dive meeting on Payments. In the last few years, the market has shifted from a fight for dominance by carriers, equipment manufacturers, credit card companies and other to a more reasoned cooperative strategy with other ecosystem players that address the complexity of changing the existing merchant network and shifting long established credit card habits of consumers. Additionally, the opportunity to provide lower cost alternatives for the unbanked and under-banked in the US (80M+), Brazil (65M) and many developing economies was highlighted with a number of novel solutions offered by start-ups in the rapid fire presentations.
Panelists from Visa, Vantiv, ARM and EBANX represented a cross-section of the ecosystem and identified these challenges to broad adoption:
The Rapid Fire startups and Spotlight sponsors showed how underserved segments can be addressed:
In other rapid fire presentations, ItsOn presented a novel alternative to standard data plans, enabling carriers to charge incrementally for data access and potentially bundle access with the delivered content. BlackICE Payments provides smart, secure, and simple APIs that authenticate both buyer and seller through an escrow system to deliver secure, encrypted messages and payments. And finally, Sensory provides a dual biometric product that enhances security, adapts to changing conditions, and enables user to choose the level of security needed.
For more information or to download the presentations, Telecom Council members should visit the library.
Many thanks go to the panelists, spotlight sponsors and rapid fire presenters who provided attendees at this event with truly informative insights into this rapidly growing industry.