5 December 2013
On Thursday 5 December, 2013, the joint breakfast seminar entitled "We Are Ready for the Mobile-Commerce Revolution, Are You?", co-hosted by PricewaterhouseCoopers ("PwC"), Digi-Sign Certification Services Ltd ("Digi-Sign") and Tradelink e-Biz Secure Solutions Ltd ("TESS"), was held at PwC Executive Conference Centre in Central. The speakers provided their insights on mobile payment technology and trends and the seminar attracted nearly 80 attendees from banks, insurance companies and other financial service providers.
The explosion of mobile telecommunication networks and handheld devices has led to a race to develop mobile applications. This, combined with widespread usage of mobile apps will dramatically change the e-commerce landscape, transforming the traditional payment ecosystem as transactions move to mobile devices. For companies that are involved in the mobile payment value chain, the mobile payment device offers a rich opportunity to connect with consumers on the move. Companies that can ease security fears, offer money saving incentives, and promote widespread acceptance may see more consumers embrace the mobile wallet. In fact, some new m-payment entrants have already been taking proactive steps to prepare for entering into the peripheral parts the ecosystem, such as advertising, loyalty and e-coupon programs.
The seminar consisted of two sessions. The first presentation by PwC focused on the mobile payment landscape, the opportunities which lie therein, and the security risks that need to be addressed. The speaker of the second session from Digi-Sign and TESS introduced a suite of innovative mobile solutions for payment, POS and authentication (based on Public Key Infrastructure technology) for use by financial services providers to tap into the mega trend of mobility. The distinct advantages and limitations of these solutions as well as measures to address security concerns on mobile devices were also highlighted. The seminar was well-received by the attendees who expressed having a fruitful time learning and sharing this topical subject with the industry experts and others at the seminar.
