This document discusses several mobile payment technologies that allow users to pay for items using their mobile devices, including using near field communication to pay with virtual credit cards stored on a phone and mobile apps that let users access bank accounts, pay bills, and transfer funds. It also describes how location-based services and marketing can provide users with local information and targeted offers based on their location. Mobile-to-mobile payment systems like Barclays' Pingit app are highlighted, which allow users to send money between bank accounts securely from their phones.

1. BusinessVibes presents:

2. Allows the individual to tap his/her near field
communication wireless technology (NFC)
enabled Android device to pay with the Google
Prepaid Card or Citi MasterCard, wherever
MasterCard Pay Pass is accepted.
This also uses the NFC technology. It stores
virtual versions of the individual’s debit and
credit cards, allowing the user to tap and pay at
ISIS ready merchants.

3. Many financial institutions have developed mobile apps
Examples of some features:
 ATM & Branch Locator
 Access account information
 Manage bills
 Make payments
 Funds transfer
 Purchase stocks

4.  Using mobile devices to book, purchase &
download tickets
 Reduces paperwork for the retailer
 Increases convenience for the customer
Examples of its use:
Airport, Cinema, Concerts, Public Transit

5. LOCATION BASED SERVICES
Locates whereabouts of the user & renders him/her with useful information
about his/her location
Examples of information that can be provided:
Weather, Traffic, Currency Exchange
LOCATION BASED MARKETING
Locates whereabouts of the user & markets specific products & services
based on the user’s location & purchase history
Examples of marketing/advertising:
 Providing the user with info about the nearest store (store locator)
 Offering discounts & promotions exclusive to the user’s location
 Providing user with info regarding product availability in nearest store
 Offering user new products that are similar to or complements his/her past
purchases

6. Barclays recently launched a product in Europe called
Pingit which makes mobile-to-mobile payments feasible
PINGIT FEATURES:
 Allows anyone with a UK current account & mobile number to send &
receive money for FREE
 Eliminates the need for the recipient to reveal any bank info to the sender
 Protects recipient’s private & sensitive bank information
 User is able to set a 5 digit pin to protect the mobile application

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