Recently, discussion pertaining to the role of mobile operators within the mobile banking and mobile payments space has brought to light a number of critical issues that could ultimately affect the success and growth of the entire channel.
I am referring to questions such as:
1) Who "owns" the client
2) How will the operators be compensated? By whom and how much?
3) What regulatory issues will the operators face?
4) When fraud occurs who bares the financial burden?
In fact, the question of who owns the client was posed to the panelists of the Aite round-table in November. My response was basically this, "there will be a handful of operators that try to own the clients and the others will let the banks own the relationship. In the end the consumers will vote with their dollars, and I believe that it'll be readily apparent that consumers prefer to have banks safeguard their money."
Here are a few resources to read more on this topic.
1) Mobile Payments: Top 10 Issues between Banks and Mobile Operators written by Paul Ruppert on the blog Mobile Point View.
2) Mobile Banking, Payments and Commerce: What Mobile Operators Really Think published by Aite Group.
3) The Evolution from Mobile Banking to Mobile Payments by Glenbrook Partners
4) Mobile Payments - A Discussion by blogtwopointzero. This post is a little lengthy, but has a number of interesting points including this quote from Simon Cavill (CTO Mi-pay), "In the West, we have two very grown up industries, with their own rules and regulations, their own controllers and their own tight government intervention on a number of levels," he continues. "In Europe the EU has drawn a line in the sand and said to the mobile operators that they will not be banks. If a bank goes down, the government guarantees your money. If the mobile operator goes down, there are no guarantees."
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