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The status and future of mobile payments in Nordics

The status and future of mobile payments in Nordics. Juha Risikko, The Head of Mobile & Emerging Payments. Four building blocks for the strategy. Payments landscape is in rapid change driven by smart phone adoption.

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The status and future of mobile payments in Nordics

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  1. The status and future of mobile payments in Nordics Juha Risikko, The Head of Mobile & EmergingPayments

  2. Fourbuildingblocks for the strategy

  3. Paymentslandscape is in rapidchangedrivenbysmartphone adoption “Google Wallet is one of the biggest investments we’ve made at Google for a very long time” “Payments is the second largest revenue generator for the Facebook. It accounted for around 15 percent of Facebook’s $3.7 billion of revenue in 2011.” “More than two million businesses and entrepreneurial individuals are accepting payment using Square’s mobile card reader in US.” “By 2020, we predict that more than half of all our transactions will be carried out on a mobile device.”

  4. New paymentsbattleground is crowdedby the new players

  5. New entrantsfollowvarious business models – the most common onecurrently is intermediation

  6. Banks havea toocomplexcheck-outprocess for e- and especiallym-commerce. Consumers Merchants General 3-step strategyof the new players In-storepayments Mobile & Electronic Commerce Person-to-person payments Banks’ currentoffering Chip-and-PIN: easy, fast and universalpaymentservice E-com:Visa/MC 3Dsecure, onlinebankingpayments Transfers in Internet-bank Cash 7 The weaknesses Weakpre & post-paymentservices. No mobile-integratedservice. Too complexpaymentprocess User experiencecouldbemuchsimplerthanit is today. The new offering Mobile integratedexperience with strongpre- and postpaymentservices Easy and fastpaymentwith pre- and postpaymentservices. Easy and fast P2P payment to receiver’sphonenumber.

  7. The battle field is especially fierce in Sweden Source: DIBS, www.dibspayment.com

  8. The new competition represents a threat to Nordea

  9. Focus in easydomesticperson-to-personpayments

  10. Today a cooperation 2

  11. Why? • We want to offer a fast, simple and modern way to pay • Person- to Person Payments • From ordinary bank account • Mobile number as alias • Alternative to cash • Real time 3

  12. User situations 4

  13. Security Security have highest priority Mobilt BankID Nordea Nordea 6

  14. Getting started 7

  15. Pay The payer starts Swish, sends money and gets a receipt 6 4 2 1 3 6 5 7 Nordea State message State mobile number and amount Mobile BankID opens Open the Swish-app The receiver gets an notification Sign with PIN-code for Mobile BankID Receipt The receiver gets an message about the payment.

  16. The value of mobile & emergingpayments for Banks

  17. Thinkabout…

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