“Best Practices” Document Calls for Multi-Layered Security and Transparency for Capture and Use of Consumer Date
CHICAGO, September 9, 2015— Stating that the document is a “best practices” guideline intended to bolster consumer confidence in mobile transactions worldwide, payments pioneer AP Technology unveiled last week a Mobile Payments Bill of Rights during the 2015 Mobile Payments Conference, in Chicago.
AP Technology CEO Richard Love told conference attendees that, “Mobile payments is an innovation that is still in its infancy. Now is the time for businesses, and service providers to commit to a level of ‘best practices’ for the benefit of consumers. Surveys show that mobile adoption is being stifled because of consumer concerns over security and the misuse of their personal data. The first step toward overcoming those hurdles is to provide written expectations of what payment perfection needs to be,” said Love.
“This Mobile Payments Bill of Rights is not meant as a directive from one company,” Love continued. “Rather, it is intended as a super-simple, flexible, living document owned by all that encourages transparency, multi-layers of security, satisfaction, and accountability. We are hopeful that companies worldwide will add to and adopt the Bill of Rights and that the articles within will evolve, as consumer preferences mandate.”
References to the Mobile Payments Bill of Rights first emerged at the conference as Love joined fellow mobile payments experts onstage for a retail-focused panel discussion titled: “Mobile Payments: A Retail Fairy Tale in the Making.” The panel, moderated by Greg Wilfahrt, AP Technology’s Chief Mobility and Marketing Officer, also featured global mobile expert, Nick Holland (Javelin Strategy and Research), Mario Di Prizio (former head of mobile commerce and retail for Sears, Kmart), and Country Music star, Rick Monroe.
“The Mobile Payments Bill of Rights is a great step forward, pointing everyone toward a friction-less and safe buying experience,” Monroe told conference attendees. “Many musicians such as myself recognize that the purchase of music and merchandise are impulse buys. When a moment is lost, so is a purchase. And that makes the villain in the mobile payments fairy tale, without a doubt, the ‘Wicked Witch of the Wait’. So, with any buying experience, it’s important that my connection with fans at the mobile register (smartphones) be as immediate and positive as my emotional connection with them onstage.” In addition to his current hit, “Great Minds Drink Alike,” Monroe is a frequent resident on Billboard’s Country Music Chart for singles that include “Midnight Rider,” and “Fires Out.”
AP Technology’s Greg Wilfahrt echoed Monroe’s sentiments on the need for speed in attaining transaction satisfaction, adding that mobile payment adoption and growth is contingent not only upon quick turnaround, but on security, ease-of-use, and ubiquity. “Consumer confidence and consistent, positive user experiences are what will fast-track mobile payment adoption and revenue growth,” said Wilfahrt. “The Mobile Payments Bill of Rights is a good way to establish an initial level of accountability and expectations for all.”
When asked by someone in the crowd how important it was for retailers to incorporate a mobile strategy into their businesses, former Sears and Motorola executive Mario Di Prizio stated, “If you don’t already have a mobile initiative, drop what you are doing, and get one-- now.”
Di Prizio then polled the conference audience to discover how many of them owned a smartphone. Seeing that 100 percent of attendees at the session owned smartphones, Di Prizio stated, “You are all consumers, as well as businesspeople. Don’t miss this amazing opportunity to monetize your fellow customers—24/7. The Mobile Payments Bill of Rights or something like it should be part of everyone’s strategy to provide exceptional buying experiences. Mobile payments enable businesses to engage customers and retain them for repeat business in ways that were never before possible.”
The number of mobile phones, tablets and pads now exceeds the planet’s population, yet mobile payments is still considered a nascent industry. Love, Di Prizio, Holland, Monroe, and Wilfahrt all agreed that it is critical for a code of best practices to make its appearance during this early stage. “Consumers need to wield more power at time of purchase, they need the final say on how their individual information is collected and later utilized,” commented Love. “Transparency is key. Consumers deserve the right to dictate how their data is gathered and used for marketing purposes. They deserve to see that intent clearly represented, and to receive only marketing messages for which they have freely opted-in.”
Panel moderator Greg Wilfahrt ended the session with a final thought: “Mobile payments remains a story that is still being written. And although evils such as fraud, theft, spam, and poor user experiences remain reasons for concern, it is clear that the prevailing sentiment amongst consumers and retailers alike is that there will be a happy ending to this retail fairy tale.”
The AP Technology-authored Mobile Payments Bill of Rights is as follows:
Mobile Payments Bill of Rights
In order to create and maintain a safe, secure, and progressive environment for transactions occurring on mobile devices and to instill business and consumer confidence in payment processes that promote the anywhere-anytime growth and global exchange of goods and services, this Mobile Payments Bill of Rights was created.
The intent of this document is to protect and to serve the interests of mobile consumers, while providing enterprises and mobile payment providers with “best practices” guidelines. By incorporating the Mobile Payments Bill of Rights in to their business practices, enterprises will promote safe, convenient, and frictionless transactional experiences that encourage the purchases of products and services available via mobile devices.
1.0 SECURE TRANSACTIONS
1.1 Transactions utilizing mobile devices are protected by multiple, layered security measures. The data shall be protected at rest, in transmission, and in all archival states.
1.2 Mobile consumers’ account information will be protected at all times.
1.3 Mobile consumer data will be protected from unauthorized use and from fraudulent transactions. Recommended security measures include, but are not limited to, encryption, transaction limits based on amounts and time, real-time anomaly detection and pattern analysis, two-factor authentication, location based analysis, biometric authentication, tokenization, and F2F (face-to-face) verification.
1.4 Mobile consumers will have the ability to choose their desired levels of security for various transactional amounts. Consumers will have the ability to control and disable transactions on their devices remotely, in the event of unauthorized use, or if a device is lost or stolen.
2.0 CLEAR DESCRIPTION AND PRICING
2.1 Mobile transactions will include clear and easy-to-understand descriptions of the products and services being purchased.
2.2 Mobile transactions will display exact costs for all products and services prior to purchase, clearly expressed in each customer's local currency, with no hidden fees.
2.3 Mobile transactions will include an easy-to-read receipt and a confirmation of payment.
2.4 Mobile consumers have the right to choose from a variety of payment options when transacting. No mobile payment application will attempt to prevent mobile users from choosing alternate forms of payment, even if that payment type exists on a different mobile payment application.
3.0 PRIVACY, MARKETING BEST PRACTICES
3.1 Mobile payment providers will protect the transactional and historical data collected from consumers.
3.2 Mobile payment service providers will be transparent with regard to what type of data is collected on mobile consumers and if that data is available to third-parties for marketing purposes.
3.3 Mobile consumers have the right to communicate, participate, and transact in a safe environment, where consumers determine how their personal data is used. All data related to transaction participants is protected and not shared without expressed consent of each mobile consumer.
3.4 Mobile marketing messages may only be sent to mobile recipients with their expressed permission. Mobile marketing messages must include a one-touch, opt-out process that is clear, concise, and immediate.
4.0 PROMPT POSSESSION AND SATISFATION
4.1 Mobile consumers have the right to receive the goods and services they paid for in a timely fashion and in a manner that meets their expectations.
4.2 Mobile consumers making mobile payment purchases have the right to a money-back refund within 30 days of purchase.
5.0 CUSTOMER SERVICE AND TECHNICAL SUPPORT
5.1 Mobile payment service providers and businesses must provide courteous customer service and technical support to mobile consumers that are easily accessible 24-hours per day and seven days each week.
5.2 Mobile consumers have the right to all purchasing disputes resolved quickly and respectfully.
6.0 CUSTOMER CONFIDENCE - Mobile consumers have the right to say, "No."
6.1 NO surprises. Mobile customers only receive the goods and services that were requested.
6.2 NO hidden costs, or fees.
6.3 NO forms of intrusive data collection unless clearly specified by the content provider and opted-in to by the customer.
6.4 NO invisible opt-ins or use of customer data without expressed permission from customer.
6.5 NO spam. Mobile phone consumers have the right to a spam-free environment, where only authorized messages are sent to their phones.
6.6 NO fraud or theft. Mobile payments must be protected by multiple layers of security.
For more information on the Mobile Payments Bill of Rights, please contact firstname.lastname@example.org.
You may download a PDF version of The Mobile Payments Bill of Rights at: www.aptechnology.com/mobilepaymentsbillofrights
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