Using the Trusted Service Hub to accelerate mobile payments adoption in a fragmented ecosystem

The world of payments is changing fast – with mobile devices as the driving force. New technologies, standards and applications are emerging to create a vibrant, fast-evolving marketplace with significant opportunities for payment innovation for both banked and unbanked markets.

Any business that wants to deploy secure mobile payment services for its customers is faced with multiple challenges. First there are multiple security frameworks to choose from: where should you store and manage sensitive credentials? In tamper proof devices such as SE, SIMs, or in the cloud with HCE solutions? What about hybrid solutions, such as ApplePay? How can we ensure we reach the maximum number of end-users? How easy it is to deploy the mobile services across multiple networks and a huge variety of mobile device types, operating systems, and so on?

This is a complex puzzle to solve, but all those points need to be addressed. Any solution that can hope to scale with the demand we anticipate (up to $721bn by 2017 according to one forecast) needs to address this market fragmentation.

Our response to this challenge has been the development of what we believe is the most comprehensive hub service on mobile: the Allynis Trusted Service HUB (TSH); the new Hub’s main purpose is to defragment the market and to maximize the reach of end-users. The principle underpinning the Hub is that it – as a secure intermediary layer – addresses device fragmentation, Network fragmentation, security framework fragmentation (SE-based, (HCE) cloud based…)

The fragmentation we see in the market is set to continue into the future, so for organizations to build on the promise of a contactless future, they need to reduce deployment complexity and upfront costs. In addition to this, a focus on end-user experience, offering speed and convenience and additional benefits such as discounts, complete security and freedom “pay anytime, anywhere” is absolutely key.

If you’re interested in learning more about the hub approach, please visit our mobile payment offers site and have a play with our interactive Trusted Service Hub tool. Are there any other key trends, technologies or approaches you think will be helpful in addressing the fragmentation the market is facing? Let us know in the comments section below or tweet to us @Gemalto.

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