Simon Pepper (Tola Mobile) vs Darren Dineen (Festy)
Great debate on mobile payments and the alternative views on the growing popularity of payments, which are transforming the traditional buying experience. With the boom of digitalisation and the growing requirements for verstatility based around people's lifestyles - there is a need to have more efficient, seamless payment methods.
Did you know that there are over 90 million mobile handsets in the UK, giving customers more flexible ways to pay by direct carrier billing, which is much higher than the number of bank accounts. However, has highlighted by Darren there is an increase in wearable payments, increase in use, more usability but these are still reliant on your bank account.
With the increase in alternative ways to pay, mobile payments alongside other services is on the up, more than existing card payments. For example Xbox and Microsoft - payments supported by emoney licence.
There are also many discussions around blockchain - the main concern is that it is not regulated unlike PSD2 and the big question is, does Blockchain have to even conform to PSD2? We strongly believe that with the increase in payment options, everything has to be finanically regulated in some format, which is in the best interests of the consumer.
Mobile payments are an intersection between handsets and existing services, which leverages billing relationships, providing authentication for full transparency of payment.