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ADVANCED PAYMENTS REPORT 2014 – SPONSORED BYANCED PAYMENTS REPORT 2014 – SPONSORED BY
ADV

American Express Introduction

Mobile commerce – more changes?

Mike Matan, Head of American Express Global Network Business

More than a decade has passed since we frst began back to the basics when it comes to building long-lasting customer
talking about the promise of mobile commerce, and relationships and driving consumer adoption.
we have seen an untold number of innovative form Essentially, consumers seek a few fundamental things when it comes
to taking up new products and services: added-value, convenience
factors and solutions introduced by both new and and simplicity. This is no diferent with mobile commerce. As the

established players in the payments industry. For all providers of these new products and services, we have to make
of these companies, the singular, driving focus has sure we are meeting a genuine customer need and ofering real
value, whether it is through the delivery of relevant, customised
been on addressing change – the changing industry,
ofers or new, streamlined services. And while we are also focused
technologies, business paradigms and customer on providing the highest level of security with these new types of

needs. But what else has to change in order for mobile payments, we have to be equally committed to ensuring the user
experience is simple and convenient.
commerce to really take of?
Having a deep understanding of the customer experience
The truth is, not that much. Of course, new ideas and technologies and creating a frictionless user environment are critical to
will continue to be introduced and change the marketplace, and
accelerating the adoption of mobile payments.
the pace of innovation is not going to stop, not by any means. But
in order for mobile commerce to move forward, we need to go
For example, in the near-term, we are likely to see faster growth
in online mobile payments as consumers have found that moving
their online shopping from a desktop to a mobile device has been
relatively simple and straightforward. The next step is making the
online checkout experience on a mobile phone even easier, while
continuing to ensure the security of the transaction.

Ultimately, in order for mobile commerce to advance and become
ubiquitous, both traditional and non-traditional companies in the
payments space will have to collaborate and work together to create
a global, interoperable mobile payments ecosystem. By establishing
common standards and protocols, we will be able to establish a
cohesive payments environment for consumers and create a viable
and sustainable mobile commerce industry for the future.

4 www.edgardunn.com | www.paymentscardsandmobile.com Edgar, Dunn & Company in association with Payments Cards and Mobile