Mobile payment solutions pp

Mobile Payment Solutions

Gary Diegodiegog2@unlv.neva

da.edu(702) 469-7207

Services & Offerings

Making Yourself Different

Innovation

What's Next

Industry Players

Local Business

Dennison Pottery: John Dennison

Simply Pure Salon & Spa: Anna Peterson

Chocolatier Blue Omaha: Colton Steeve

Contactless Payments

RFID Based Card Fob Phone

Existed for many years EMV cards Tap to pay

https://www.hostmerchantservices.com/2012/02/visa-kicks-open-the-door-for-chip-cards/

Near Field Communications NFC

Type of RFID Approx 4 cm range Integrated into

many phones More than just

payments▪ Authentication▪ File Transfer▪ Contact Information

Transfer Photograph by Chris Ratcliffe/Bloomberghttp://www.businessweek.com/articles/2012-05-25/mobile-payments-coming-to-a-loyalty-deals-app-near-you

Mobile Payments Security Liabilities

Early lack of encryption

New malware targets

Strengths Encrypted financial

data Less risk of secure

data being compromised at the POS terminal

Square reader on the right includes encryption (and has a battery for power)

http://venturebeat.com/2012/03/26/square-adds-encryption-to-its-square-reader/

Mobile Payments User Data

Detailed view of user data available to merchantshttp://www.quora.com/Square-product/Can-merchants-see-a-customers-tip-history-with-that-merchant

Technical Issues

More reliable card reader Some users carry 3-4 card readers

just in case one of them doesn’t work

Applications not working correctly and you lose a sell this way

Offline transactions- saving customer data

Connections to wi-fi

Areas for improvement

Security Encryption Fraud detection VeriFone claimed that the square can

be re-programmed and client information can be attained.

Card Case

Square offers Card Case, which acts like a mobile wallet

Point of Card Case is to speed up transactions

Functions like a tab with a business you frequent

Tabs feature

Using Square’s Card Case, the first time that your card is used at the business, it will work just like normal.

In your receipt, you click a link and sign in using your square account to set up Card Case.

Next time you come into the business, just give your name.

The merchant will then charge your tab.

Tabs Feature (cont.)

Safety measures include: Location checking to ensure you’re

actually present Email receipts for every transaction to

ensure easy tracking Easy cancellation of transaction via

receipt Photo must be uploaded with your

account so merchant can check if it’s really you

Are mobile payments really worth it for businesses?

Small business owners definitely seem to think so Interview – very successful

Owners like: Lower, flatter rate fees Increased portability Modern look

Do want to see more features, based on past the future looks promising.

Consumer-to-Consumer Payments

Could be used for things like paying back a friend that loaned a small amount of money or other non-business transactions

Doesn’t seem to be catching on as quickly as some would like Hardware issues occasionally cause problems The fees are main deterrent – there are no fees

to pay someone with cash. With lower fees and future technology

improvements, the use of these payments could eventually outpace the use of cash.