WHAT INNOVATION MEANS TO MOBILE PAYMENTS

WHAT INNOVATION MEANS TO MOBILE PAYMENTS 

 

In the last five years, the phenomenal growth of the global mobile phone market has led to product margins being eroded as global competition commoditises the products. Our commitment to invest in human capital, recruiting good R&D thinkers, resourcing for the technology evolution and choosing the right partners has been essential for us to champion technology initiatives and harness this growth.

As a builder of new technology, we know the value of having partnerships with companies that are excited by the innovations, will champion technology and take new applications to market.

We wanted to prepare the way for mobile network operators, as well as transport operators, retailers, banks, credit card companies and providers of digital services to offer their own services securely over mobile networks. The outcome has been a development enabling mobile operators' networks to be used securely to load new applications and personalise handsets where and when the consumer chooses.

Over the last 12 months, we carefully selected two key partners to ensure that we could drive the growth and sustainability of mobile communications by delivering trusted payment capabilities for the next generation of mobile phone handsets.

Mobile phone operator's network can securely load new applications when the consumer chooses, and select the secure payment mechanism at their convenience.

The combined innovative strengths of G&D and our partners will propel the delivery of credit card functions, transit tickets or other storage and payment information to mobile phones. Of course, we do have a secondary objective, to make this the fully interoperable global standard for the world's new mobile systems.

Juliana Kennedy, managing director, Giesecke & Devrient Australasia

Source