Wallets go mobile with innovative hosted business model that delivers new user experience.
Alcatel-Lucent (Euronext Paris and NYSE: ALU) takes a step closer to replacing the physical wallet by announcing the Mobile Wallet Service (MWS), a complete solution that places the mobile operator in the center of the emerging mobile payment equation. Unique in the industry, MWS leverages an operator’s trusted network to deliver consumer applications such as person to person payment, remote ticketing, proximity payment and m-commerce – all aggregated onto a single MWS platform with the flexibility to scale based on consumer demand. MWS also allows third parties to develop and integrate new applications through an Application Enablement API.
This “ready to offer” service empowers consumers to use their mobile phones to manage daily transactions such as payments, coupons, loyalty points and gift vouchers.
By bringing together bank/payment providers, payment applications, and a wide variety of access devices, Alcatel-Lucent has created a new customer experience which can help operators to increase revenue, reduce subscriber churn and bring new services to market. MWS builds on Alcatel-Lucent’s previously announced partnership with Clear2Pay to collaborate on a mobile payment framework. Enhanced with building blocks for end to end transaction flow, the solution includes handset applications, a stored value account, gateways to banks and payment networks, links to an operator’s billing system and a portfolio of access devices for proximity payment.
MWS is delivered as Software-as-a-Service (SaaS), a turnkey solution that places mobile operators at the hub of the mobile payment value wheel with minimal up-front costs. The innovative platform, commercialized by Alcatel-Lucent Ventures, can be customized to create unique experiences that are relevant for specific markets. For example, consumers in developed countries want the convenience of paying for goods and services from their mobile phones. In growth economies, MWS can be adapted to deliver money management services via a mobile device.
“Consumer tastes and technology can change in the blink of an eye,” said Anthony Belpaire, General Manager, touchatag, Alcatel-Lucent Ventures. “Our approach allows operators to bring timely and relevant mobile wallet services to consumers, to scale with consumer demand and to dynamically add new applications.”
“Mobile wallet solutions, like Alcatel-Lucent’s, position mobile operators as primary providers of payments to their customers,” said Samee Zafar, Director at Edgar Dunn & Company. “By providing the core customer account and related user tools, operators retain customers, strengthen customer relationships and reduce the biggest problem operators face – customer attrition.”
Alcatel-Lucent will showcase the Mobile Wallet Service at the CITA Tradeshow and Conference, (March 23 – 25, 2010 Las Vegas, Nevada) Booth #2506.