Newly formed global task force charts the disruptive rise of MPOS in first of three white papers
3 May, 2013 – Mobey Forum, the global bank-driven industry association working to accelerate the evolution and adoption of mobile financial services (MFS), has today published the first in a series of white papers charting and analysing the mobile point of sale (MPOS) revolution sweeping across North America and Europe.
‘The MPOS Breakthrough: How the Power of Mobile has Disrupted Payments’ is the first deliverable from the newly formed, globally representative MPOS task force, founded and coordinated by Mobey Forum’s North American Chapter. The paper explores the rapidly changing MPOS landscape and aims to arm banks, financial institutions and other actors in the ecosystem with the necessary foundation of knowledge needed to enter this high growth market. The paper tracks the progress of new innovative players and explains how non-traditional thinking has been key to driving adoption. It also highlights key factors influencing the growth of the MPOS ecosystem as it transitions from a niche solution for micro-merchants to a new revenue generator for multinational retailers.
Matt Calman, Chairman of the Mobey Forum MPOS Task Force and SVP and R&D Executive at Bank of America, comments: “Little more than three years after the first wave of MPOS solutions hit the market, the technology is already redefining merchant card acceptance at the point of sale, by rewriting the rules on who can accept card payments and also vastly simplifying the process of doing so. Solutions from new, disruptive players in MPOS have gained real traction with micro merchants and banks and financial institutions are now starting show their hands, too. Our series of white papers aim to provide guidance for the next wave of players seeking to establish a foothold in this space.”
Created in response to the rapid growth of MPOS technology, the task force brings together Mobey Forum’s global members in order to deliver educational and actionable analysis on the MPOS market. Through a series of three papers, the task force aims to drive adoption of MPOS technology by addressing the complexities of customer needs and expectations; analysing MPOS’ disruptive impact on the payments market and exploring the strategic options and business models for banks and other financial institutions.
The series of white papers aim to raise awareness of the technology and its development ecosystem, encouraging dialogue between interested stakeholders with a view to accelerating adoption in the marketplace. The series will explore the go-to-market processes of MPOS providers by evaluating specific use cases and examine how the traditional players in the MFS landscape can establish a sustainable position in the MPOS value chain.
Download a free copy of the white paper from https://mobeyforum.org/whitepaper/the-mpos-breakthrough-how-the-power-of-mobile-has-disrupted-payments/
Leading banks, payment schemes and service providers have all contributed to the white paper, including: Bank of America, Bank of America Merchant Services, CIBC, Danske Bank, Elavon, Fiserv, La Caixa, MasterCard, Metaforic, Nets, Nordea, RBS, US Bank and Visa.
About Mobey Forum
Mobey Forum is a global, bank-driven business association working to accelerate the evolution and adoption of mobile financial services. Established in 2000, it brings together leading financial institutions, mobile network operators, mobile handset manufacturers and payment processors and vendors, committed to accelerating the mass-market deployment of user-friendly mobile financial services by promoting open and secure technology standards.