If the faithful found Moneet Singh’s comments regarding the anticipated adoption of contactless systems sobering, a return to unbridled enthusiasm was delivered in the form of the next presenter, Pam Zuercher, VP of Product Innovation for VISA. Executives in the trendy realm of Innovation are paid to help the more mundane among us see a new world of possibility, and Ms. Zuercher did not disappoint. Her theme might well have been Mobile Payments Will Happen, and VISA Will Help it Happen. Among the tidbits she provided in support of the hypothesis that Americans are just itchin’ to spend money via their mobiles:
- A consumer survey conducted by VISA indicates that 54% of respondents would switch carriers in order to gain the ability to pay mobily (mobe-ly?).
- The same survey shows that 37% would pay more for a proximity-payment capable mobile device.
In stark contrast to comments made earlier by others, Pam shared the opinion that carriers will ultimately benefit from some portion of the transaction fees generated by mobile payments. I don’t disagree with that view but it would certainly carry more weight if it were made by an issuing bank or banks, as opposed to a representative of an organization that is very unlikely to be writing the checks.
Without going into specific implementations, Pam suggested that VISA views both NFC and SMS as enabling technologies. Further, she listed Account Management, Coupons, Alerts and Notifications and 2-Factor Authentication (apparently VISA’s view of the primary capability required for proximity payments)as the priority services to be enabled by VISA’s incarnation of the mobile wallet.
Once upon a time, I managed the coupon programs of a small food company. The experience gave me an appreciation for both the power and shortcomings of traditional couponing. I see clearly that wireless has the potential to address many of the shortcomings and make life better for retailers, manufacturers and consumers alike. I was very pleased to learn that VISA also views coupons as a priority service in the realm of Mobile Commerce and doubly so to hear that they are piloting a mobile coupon trial with 500 employees in their corporate cafeteria.
Pam Zuercher concluded her comments with an overview of VISA’s current and planned capabilities for their mobile commerce/mobile wallet platform, launched earlier this year:
Phase 1 (current capabilities) Contactless payments, OTA personalization, Account Management, Offers
Phase 2 (anticipated, no timing given) Remote and mobile Internet purchases, Authentication/security
Phase 3 P2P funds transfer, Prepaid top up, Expanded offers & ticketing.
Posted by mobilemeandering 
Once illiterate, Brad Grau eventually mastered QWERTY and spellcheck although XML continues to elude him. He works in the wireless industry in a nondescript midwestern city. He is a keen observer of wireless progress and enjoys innovating daily and talking about himself in the third person.