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.
i2c is a global provider of highly-configurable banking and payment solutions. Using i2c's proprietary building block technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single, global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c's next-generation technology supports millions of users in more than 200 countries/ territories and across all time zones.
For more information, visit i2cinc.com and follow us at @i2cinc.