Will mobile payment be made easier soon?

Some solutions to facilitate mobile payment are arriving soon

Finalize an online purchase from a smartphone should be simpler soon. Solutions arrive on the market to facilitate this key step for mobile payment to take-off.

It is true that more people use their smartphone or tablet to surf online, as confirmed by a study published by StatCounter. But mobile payment is still scarce, due to uneasy use and security. This should however be simplified in 2017 with the introduction of contactless technology in mobile terminals and bank cards.

On the operator-side, solutions shall enable soon individuals with an Android smartphone and a bank card, both equipped with contactless technology to finalize a purchase directly on their mobile, as they would for example in a store with a terminal payment. Thus, when the payment page of the mobile site is displayed, the customer will approach his/her credit card from his/her own phone so that the required fields for remote payment can be filled automatically, without having to store data in the phone.

Solutions that can improve conversion rates on m-commerce are being watched closely by all e-merchants.

On the acceptance side, The French Oberthur Technologies company is developing with the Canadian company Mobeewave an application that allows the use of an Android smartphone as a conventional contactless payment terminal. A version has just been launched by Mobeewave in Canada under the PayMeTap name, with several thousand consumers and for specific uses (grouped gifts …) comparable to payment from person to person. Called “Flying M-pos”, a version for smaller e-commerce websites, Oberthur manages the security of the application for, based on the secured element of the phone, is currently being tested by two foreign banks, including an Australian one.

The two approaches for mobile payment:

• Remote payment: a buyer approaches his/her contactless bank card from his/her smartphone, which is also equipped with the contactless technology. The chip of the card then communicates with the payment page to fill in the necessary fields for the completion of the transaction.
• One-to-one payment: the buyer or the merchant transforms his/her smartphone into a contactless terminal near for the buyer to approach from it his/her bank card. This approach is more sensitive in terms of securing payment data. Indeed, the phone and card belong to two different parties. But this system should be approved in the coming months for a wider operation in 2017. Oberthur Technologie hopes that this service can then be also integrated in existing wallets such as SamSung Pay or Apple Pay.

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