Mobile payment ecosystems in transition

Matti Penttilä, Erkki Siira, Maarit Tihinen

Research output: Contribution to journalArticleScientificpeer-review

Abstract

One of the most prominent mobile payment technologies of interaction paradigms is Near Field Communication (NFC), which provides simple and secure two-way communication between electronic devices. However, NFC-based services have not increased as expected. In this paper, the NFC payment ecosystems are introduced and reasons to why their use has not rapidly become more prevalent are discussed. The presented research results are summarised from business case studies that were carried out in various Finnish companies during the period 2012-2015. The results showed that the sustainable and feasible solutions are based on recognised standards and open ecosystems; national, proprietary or otherwise restricted solutions do not work. Accordingly, it was recommended to start with Value Added Service (VAS) systems as these involved fewer security requirements. Finally, the analyses pointed out that tokenisation offers light security version for most of services in the business and it was experienced a remarkable way for promoting the mobile payment services.
Original languageEnglish
Number of pages15
JournalInternational journal of scientific and technical research in engineering (IJSTRE)
Volume1
Issue number6
Publication statusPublished - 2016
MoE publication typeA1 Journal article-refereed

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Ecosystems
Industry
Communication
Near field communication

Keywords

  • mobile payment
  • near field communication
  • payment ecosystem
  • value added services

Cite this

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title = "Mobile payment ecosystems in transition",
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Mobile payment ecosystems in transition. / Penttilä, Matti; Siira, Erkki; Tihinen, Maarit.

In: International journal of scientific and technical research in engineering (IJSTRE), Vol. 1, No. 6, 2016.

Research output: Contribution to journalArticleScientificpeer-review

TY - JOUR

T1 - Mobile payment ecosystems in transition

AU - Penttilä, Matti

AU - Siira, Erkki

AU - Tihinen, Maarit

PY - 2016

Y1 - 2016

N2 - One of the most prominent mobile payment technologies of interaction paradigms is Near Field Communication (NFC), which provides simple and secure two-way communication between electronic devices. However, NFC-based services have not increased as expected. In this paper, the NFC payment ecosystems are introduced and reasons to why their use has not rapidly become more prevalent are discussed. The presented research results are summarised from business case studies that were carried out in various Finnish companies during the period 2012-2015. The results showed that the sustainable and feasible solutions are based on recognised standards and open ecosystems; national, proprietary or otherwise restricted solutions do not work. Accordingly, it was recommended to start with Value Added Service (VAS) systems as these involved fewer security requirements. Finally, the analyses pointed out that tokenisation offers light security version for most of services in the business and it was experienced a remarkable way for promoting the mobile payment services.

AB - One of the most prominent mobile payment technologies of interaction paradigms is Near Field Communication (NFC), which provides simple and secure two-way communication between electronic devices. However, NFC-based services have not increased as expected. In this paper, the NFC payment ecosystems are introduced and reasons to why their use has not rapidly become more prevalent are discussed. The presented research results are summarised from business case studies that were carried out in various Finnish companies during the period 2012-2015. The results showed that the sustainable and feasible solutions are based on recognised standards and open ecosystems; national, proprietary or otherwise restricted solutions do not work. Accordingly, it was recommended to start with Value Added Service (VAS) systems as these involved fewer security requirements. Finally, the analyses pointed out that tokenisation offers light security version for most of services in the business and it was experienced a remarkable way for promoting the mobile payment services.

KW - mobile payment

KW - near field communication

KW - payment ecosystem

KW - value added services

M3 - Article

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JO - International journal of scientific and technical research in engineering (IJSTRE)

JF - International journal of scientific and technical research in engineering (IJSTRE)

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