Modification Alien Style
Right now there are four entities needed to make a payment via credit card (acquirers, issuers, merchants and consumers) to make a payment via mobile device, there are five (mobile operators, acquires, issuer, merchant and consumers). As a result, the ideal business model includes the cooperation between mobile operators, financial institutions, technology suppliers and industry associations to create a certain amount of standardization which will ensure the successful implementation of a strong mobile payments infrastructure.
Still, numerous issues, including limited functionality available through the current generation of networks as well as a lack of standards to name a few, are still hampering the efforts being carried out by these industry players. In addition, questions regarding successful revenue generating business models also remain.
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