Dear Readers,
Ok everyone - how's this for a nightmare scenario. Mobile payments takes off big. I mean really, really big. So big, in fact, that no-one carries cash anymore because it all goes through your mobile wallet application, and so on. People are buying their groceries and spending, oh, I don't know - up to 150 Euro (approx. 125 pounds sterling). Perhaps even up to 250 Euro per transaction (approx. 210 pounds)! Wow! I mean really, the future is here and we were all a part of it!
Except that there is no NFC or contactless technology in sight. Not even a cloud payment and MNOs are not involved in the wallet application - neither are the likes of MasterCard and Visa. Oh, and the wallet app works on iOS, Android and windows OS.
Sound crazy? Well last week it was introduced to what can only be described as huge media fanfare in Germany. This was so big a deal that BILD (the leader in Germany's red top tabloids) did a huge article on mobile payments and put their weight behind it. The company was Netto – the discount branch of supermarket heavyweight Edeka, Germany’s leading food retailer with over 30% market share. They have added a mobile payment function to its App, aptly called NettoApp, and is planning to roll out the service to all 4100 branches throughout Germany. (http://wp.me/p1Jrjn-1WI)
The App, developed by Valuephone, uses a standing order system by the Deutsche Post Zahlungsdienste GmbH. With strong and experienced partners such as Valuephone and Deutsche Post, this service has real potential.
For starters, it is independent of the customer’s mobile service provider – it merely requires an Android, iOS or Windows smart phone. Secondly, registration does not require special security authorization – but ID card number, address and, obviously, bank account details. After the successful registration, it is reported that customers can shop for up to 150 Euro (no 20 Euro limit!) and, after final security checks, even up to 250 Euro.
So how does it work? Well, at the check-out counter, the mobile payment function is activated using a PIN and, after all the items are scanned, the App produces a payment code which is given to the cashier to type in. The receipt appears on your app or under the users myNetto account. Any coupons and special in-store deals are also credited automatically.
Now obviously, there are readers out there that are going to raise security concerns and perhaps rightly so. However, the point that I am making is that if something like this takes off in Germany - it might accelerate mass mobile payment adoption but on a completely different course than was expected. After all, 150 Euro is more usable than the 20 Euro limit currently enforced per transaction. What do our readers say? I would very much like to hear your reactions and am willing to post them on the Contactless Intelligence site. Please let me know.
Also on Contactless Intelligence, we have the impressions video from this years Contactless Intelligence Spring Conference and the Contactless & Mobile Awards. If you were there - you may be in the video. You should probably check it out! (http://wp.me/p1Jrjn-1Z6)
Until next week.
Regards,
Steve Atkins
Contactless Intelligence
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