Redwood City, CA—April 13, 2011— Amir Wain, Chief Executive Officer of i2c, Inc., a payment processing innovator, recently participated in a panel discussion at the Alternative Payment Systems Innovations Summit held in Burlingame, CA on March 29, 2011. The two day event, organized by Strategic Solutions Network, brought together merchants, payment processors, telecom providers and mobile technology companies to discuss the evolving market for mobile payments.
In the session “Facilitating Collaboration Amongst Banks, Carriers, Merchants and Card Issuers to Effectively Enable Mobile Payments”, Wain shared his view that the intense focus on pushing payments to mobile technologies often times overshadows the key to mobile payments success: consumer value.
“If I’m a consumer making a payment, do I really care if I swipe a card or wave my phone in front of a NFC reader? Consumers will need to see much more than just a way to pay with mobile,” said Wain. To be successful, Wain argued that mobile payment providers need to identify the unique benefits possible with mobile payment – such as integrated loyalty, digital coupons, interactivity and real-time customizability of the user experience – and then integrate these features into their solutions.
Collaboration amongst players in the payment ecosystem is another important element that must occur to make mobile payments work, a view echoed by other participants. “A flashy mobile front-end that does not take into account the complexities of payments will simply not work,” he said. “Aligning the interests of consumers, merchants, mobile disruptors, carriers, issuers and card brands is the only path forward.”
i2c, whose My Card Place (MCP) prepaid card processing platform integrates mobile technologies and digital loyalty features to deliver differentiated card programs, will also participate in the next Alternative Payment Systems Innovations Summit to be held in Chicago this October.
About i2c Inc.
An award-winning global financial technology innovator powering credit, debit, prepaid, core banking, and money movement solutions, i2c unifies banking and payments in an all-in-one platform, transforming product personalization with a customer-centric architecture and accelerating speed-to-market with composable building-block solutions. Financial institutions and fintechs globally trust i2c to help them quickly and efficiently configure and scale differentiated financial offerings in an evolving, competitive market. Powered by innovation and driven by trust for more than 24 years, i2c blends modern ingenuity with expert reliability to supercharge exceptional banking and payments experiences for millions of users and billions of transactions worldwide.
For more information, visit i2cinc.com and follow us at @i2cinc.