Top smart technology trade show concentrated on mobile transactions.
Leading trade show for smart technology, CARTES, placed its top focus on mobile payments and other issues, views, and challenges regarding the marketplace, including the importance of India in the global landscape.
This year was devoted to “interconnected commerce and the new payment landscape (electronic, mobile, physical)”.
Many of the industry leaders were present, and spoke to bring forward the latest critical topics, which were weighted very heavily toward security and mobile payments. This has, in fact, driven move telecommunication operators, distributors, and banks to gather at Paris Nord Villepinte in November in order to discuss the most recent innovations in these areas.
To set the stage for the theme of the event, market research angled toward this new transaction landscape was presented by Angelo Caci, the ADN’Co. co-managing director. What he indicated was that there were five significant primary trends to be watched and acted upon:
• The number of methods available for paying for purchases is rapidly multiplying and diversifying as consumers continue to embrace technology.
• The market is in need of restructuring in order to move away from the traditional economic model for bank cards and to provide boosted legislation and transparency.
• Consumers are beginning to inform themselves in order to benefit from a greater number of opportunities. As they now have more choices, it puts them in a more powerful position.
• Consumers have new expectations that eliminate the line drawn between the offline and online worlds, leading to the development of purchasing services that complement one another across multiple channels.
• The expectation for confidence and security is continuing to grow, requiring all of the players in the mobile payment marketplace to boost the ways in which they secure their new technologies and transaction methods.
The consensus was that the market is currently in the midst of a massive transformation that is steering it away from the traditional banking players, which had been the backbone of its structure for a long time. However, the new purchasing behaviors of consumers have lead to a plethora of different methods for making purchases, particularly mobile payments, and vital new players for interconnected commerce have now emerged.