Mobile Wallet Project Team
Mobile Wallet Project Team
© 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
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The Alliance Mobile Wallet Team - Background With the launch of Apple Pay there is even more industry buzz around the opportunity and potential for mobile wallets. While Apple’s initial success is clear - there is still market confusion, uncertainty, and inconsistency. And consumers still say they trust their own bank the most to provide a mobile wallet (ING Intl. research). Additionally, a variety of models exist, and many bank and business branded solutions are in the works, launching, or already available to consumers. So the space will get more crowded… Stakeholders have identified a need to bring together the full ecosystem of mobile wallet players for industry dialogue, knowledge exchange, and collaboration in effort to address key topics/concerns such as: – Consistent User Interface – Standards – Roll-out challenges – Access to Data – Best Practices NACHA’s Payments Innovation Alliance is a membership group of domestic and international stakeholders already focused on fostering industry collaboration, and will support the creation of a Mobile Wallet initiative. © 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
The Mobile Wallet Team – A New Alliance Initiative The Payments Innovation Alliance has formed a new Mobile Wallet Project Team to will bring together industry stakeholders focused on both bank branded and business branded mobile wallets for electronic payments. This new industry initiative will create an inclusive and transparent working group of Alliance members dedicated to leveraging an “open” common acceptance platform that includes support for retailer and bank-branded mobile wallets and tender reciprocity. For those in the early stages of developing a wallet solution or strategy, what are the obstacles? Can we define common terminology? How do new innovations factor in? What about provisioning and acceptance? Standards? Implementation challenges? The Mobile Wallet Team will spend Phase One identifying issues, defining a specific plan of action, and creating defined deliverables that will be shared with the industry Note, members of the Alliance Mobile Wallet Team must be members of NACHA’s Payments Innovation Alliance
© 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
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Scope
The Alliance mobile wallet project team is dedicated to mobile wallets for electronic payments and leveraging “open” common acceptance that includes support for retailer and bank-branded mobile wallets and tender reciprocity.
© 2015 2014 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
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Focused Charter The Mobile Wallet Team will address challenges and obstacles around mobile wallets for both bank and business branded offerings. This group will not focus on other mobile Apps. Team members will work collectively in an effort to enable individual stakeholder companies and the broader mobile wallet ecosystem. Topics for exploration and action include: • Obstacles • Best practices • Standards • Consistent User Interface • Acceptance Issues • Security • New access to data • Defined Terminology
© 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
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Next steps Form the Alliance Mobile Wallet Team Conduct initial phone meeting with participants (May) In-person meeting (under consideration) summer 2015
© 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
© 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
2
The Alliance Mobile Wallet Team - Background With the launch of Apple Pay there is even more industry buzz around the opportunity and potential for mobile wallets. While Apple’s initial success is clear - there is still market confusion, uncertainty, and inconsistency. And consumers still say they trust their own bank the most to provide a mobile wallet (ING Intl. research). Additionally, a variety of models exist, and many bank and business branded solutions are in the works, launching, or already available to consumers. So the space will get more crowded… Stakeholders have identified a need to bring together the full ecosystem of mobile wallet players for industry dialogue, knowledge exchange, and collaboration in effort to address key topics/concerns such as: – Consistent User Interface – Standards – Roll-out challenges – Access to Data – Best Practices NACHA’s Payments Innovation Alliance is a membership group of domestic and international stakeholders already focused on fostering industry collaboration, and will support the creation of a Mobile Wallet initiative. © 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
The Mobile Wallet Team – A New Alliance Initiative The Payments Innovation Alliance has formed a new Mobile Wallet Project Team to will bring together industry stakeholders focused on both bank branded and business branded mobile wallets for electronic payments. This new industry initiative will create an inclusive and transparent working group of Alliance members dedicated to leveraging an “open” common acceptance platform that includes support for retailer and bank-branded mobile wallets and tender reciprocity. For those in the early stages of developing a wallet solution or strategy, what are the obstacles? Can we define common terminology? How do new innovations factor in? What about provisioning and acceptance? Standards? Implementation challenges? The Mobile Wallet Team will spend Phase One identifying issues, defining a specific plan of action, and creating defined deliverables that will be shared with the industry Note, members of the Alliance Mobile Wallet Team must be members of NACHA’s Payments Innovation Alliance
© 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
3
4
Scope
The Alliance mobile wallet project team is dedicated to mobile wallets for electronic payments and leveraging “open” common acceptance that includes support for retailer and bank-branded mobile wallets and tender reciprocity.
© 2015 2014 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
Insert Logo
5
Focused Charter The Mobile Wallet Team will address challenges and obstacles around mobile wallets for both bank and business branded offerings. This group will not focus on other mobile Apps. Team members will work collectively in an effort to enable individual stakeholder companies and the broader mobile wallet ecosystem. Topics for exploration and action include: • Obstacles • Best practices • Standards • Consistent User Interface • Acceptance Issues • Security • New access to data • Defined Terminology
© 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
6
Next steps Form the Alliance Mobile Wallet Team Conduct initial phone meeting with participants (May) In-person meeting (under consideration) summer 2015
© 2015 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only.
