DOCSLIB.ORG

IKO Wallet – Mobile Prepaid Solution

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
IKO Wallet – Mobile Prepaid Solution IKO wallet – mobile prepaid solution Dominik Modrzejewski Warsaw, 30th October 2013 PKO Bank Polski – the leading bank in CEE and Poland • Largest universal bank in Poland since 1919 and amongst the leading banks in CEE by total assets, net income, total equity, loans and deposits, size of customer base and distribution network • Leading bank in CEE and one of Top 26 banks in Europe by market cap • 24% market share in Poland by number of current accounts • Total portfolio of 7.1 m cards across all products and segments • No. 1 in electronic banking in Poland 2 PKO Bank Polski is the leader of innovation in Poland Traditional Innovative Clients 1) Number of branches 1) E-banking users 18% 27% 73% 82% Technologies Traditional cards 1) Contactless cards 1) 22% 30% 70% 78% Source: own data, Polish Financial Supervision Authority, PRNews.pl, 1Q 2013 Mobile phone is our main daily tool merging many various functions Newspaper TV Money Phone PC Many players are interested in mobile payments market, so there is a risk of imposing a standard possibly unprofitable for banks IKO is 4G mobile banking – the innovative answer of PKO Bank Polski to rising competition on mobile payments market 4G Mobile banking + 3G mobile payments Mobile banking 2G based on mobile Mobile banking 1G application based on mobile Mobile banking website based on wap technology 6 IKO merges the most important payments and banking functions Mobile payments + Mobile banking = IKO Payments in POS Current account terminals balance ATM withdrawals Transaction history Checking authorization Internet payments holds P2P payments Contact with the bank Offline vouchers 7 The main screen of the IKO application Current account Geolocation balance Magnifier of the IKO code IKO code allowing to authorize all types of mobile payments List of main app functions as a „carousel” Time bar showing the validity of the IKO code 8 IKO wallet – version of application for people without current account in PKO Bank Polski • To open IKO wallet only a phone number is needed, no personal data is necessary. • IKO wallet looks the same as IKO application with current account. • The user of IKO wallet can conduct the same transactions as user of IKO application with current account: POS terminals payments, ATM withdrawals, web payments, P2P payments. • The user of IKO wallet has access to the same discounts and special offers as user of IKO with current account. 9 Activation process of IKO wallet – easier than IKO with current account IKO with current account IKO wallet Step Device Step Device 1. Download and install the Phone 1. Download and install the Phone application on your phone. application on your phone. 2. Enter your phone number and Phone 2. Enter your phone number and Phone choose PIN code to the choose PIN code to the application. application. 3. Choose „PKO BP” button. Phone 3. Choose „BEZ KONTA” button. Phone 4. Log in to iPKO website. Computer 4. Accept the „Terms and conditions” Phone in the application. 5. Enter activation code from your Computer / 5. Wait for the information about Phone phone on iPKO website. Phone successful activation. 6. Confirm the operation in iPKO Computer / with authorization code (for Phone example from SMS or token). 7. Wait for the information about Computer / successful activation. Phone 10 Differences between IKO wallet and IKO with current account – transactional limits, support and fees IKO with current account IKO wallet Transactional limits Every user can set his own limits One predefined transactional limits through iPKO website. profile for all users. Additional legal limits (for example limit of funds stored on IKO wallet account annually - 2500 EUR). Support Bank’s branch, Bank’s call center. No support in Bank’s branch and call center. Fees 0 PLN for everything. Some fees (for example 9 PLN for IKO withdrawal from ATM). 11 The number of IKO users is well above its competitors 5 months since launch 7 months since launch 11 months since launch 12 thousand of clients 65 thousand of clients 32 thousand of clients IKO with current account IKO wallet 7 months since launch 1 month since launch 62 thousand of clients 3 thousand of clients IKO after 7 months since launch: • Total value of transactions conducted with IKO is 40 million PLN (about 10 million EUR) • 60 thousand of POS terminals and about 8 thousand of online shops accepting IKO payments • More than 3000 ATMs with IKO withdrawal function 12 Thank you for your attention! Dominik Modrzejewski [email protected].
Load more

Recommended publications
  • Mobile Customer Engagement and the Rise of the App-Based Banking
    MOBILE CUSTOMER ENGAGEMENT AND THE RISE OF THE APP-BASED BANKING LANDSCAPE APRIL 2019 | TATA COMMUNICATIONS © 2019 Tata Communications. All Rights Reserved. TATA COMMUNICATIONS and TATA are trademarks of Tata Sons Limited in certain countries. TRANSFORMATION: MOBILE MESSAGING EXCHANGE Contents A new golden age of mobile banking? ....................................................... 3 Creating the right service delivery channel ................................................ 4 What role will traditional SMS services have to play in a new banking landscape? ... 5 Finding a way forward ......................................................................... 6 Working with Tata Communications for Mobile Customer Engagement in the Banking Industry ................................................................................ 7 2 For more information, visit us at www.tatacommunications.com. © 2019 Tata Communications. All Rights Reserved. TATA COMMUNICATIONS Contact us Share and TATA are trademarks of Tata Sons Limited in certain countries. TRANSFORMATION: MOBILE MESSAGING EXCHANGE A NEW GOLDEN AGE OF MOBILE BANKING? The ubiquity of mobile phones has made them an ideal channel for mobile banking services. Research from Ovum indicates that retail bank investment into digital banking technology will achieve 5.2% CAGR (2018-2022) 1, It is to be assumed that a significant portion of this will target mobile banking applications and related services, and the growth rate is significantly higher than comparable investment in other IT areas, such as ATM, contact centre services or even fraud and security spending1. Emerging markets have proven particularly open to mobile banking services as the mobile infrastructures in these regions is often more advanced (and less expensive to deploy) than the fixed-line alternative. Traditionally SMS-based services have been the mainstay of mobile banking, but this has changed in developed markets with the advent of smartphones and the rise of the app economy.
    [Show full text]
  • Mobile Banking Authentication Secures Your App Security Platform While Eliminating the Need for Hardware Tokens Or One-Time Passwords
    Account Entersekt Protection solutionsMobile 2015 Banking authentication The Entersekt Entersekt’s solution for mobile banking authentication secures your app security platform while eliminating the need for hardware tokens or one-time passwords. Our product, Transakt, lies at the center of all of our solutions. Transakt uses industry-standard digital certificates to deliver the strongest possible device identification. These can be combined with a PIN, password, or fingerprint scan to identify the user and enable easy yet secure access to your mobile banking app. Transakt also creates a secure communication channel between your financial institution and your customers’ mobile devices. This enables you to send real-time requests to your users to authenticate sensitive transactions. Their responses are digitally signed, supporting nonre- pudiation, then encrypted and returned. Because the Transakt channel is truly out of band, Transakt counters all phishing attacks, man-in-the- middle exploits, and other kinds of digital fraud. Your institution retains complete control over user registration, which is independent of mobile networks and SIM cards. If a user’s phone is stolen, the certificate is revoked, immediately rendering the application unusable. What makes Transakt deploys a unique X.509 digital certificate to each mobile device. This robustly Transakt unique? identifies the device and creates a secure, mutually authenticated connection between it and the Transakt Secure Gateway – a FIPS 140-2 Level 3 hardware appliance installed behind the bank’s firewall. Typical implementation Mobile device A security token is retrieved from the Transakt Secure Gateway via a completely out-of-band channel. This token is used to Mobile banking app App server authenticate transaction requests originat- Application request and token ing from the mobile banking app.
    [Show full text]
  • Internet Self Service Faqs
    Internet Self Service FAQs General Questions .............................................................................................................................................. 2 What is Mobile Banking? 2 Is Mobile Banking secure? 3 Is my personal or financial information stored on my phone? 3 Are there fees to use Mobile Banking? 3 Which accounts can I access in Mobile Banking? 3 How current is the account and transaction information? 3 Can I add more than one mobile phone? 3 What if my phone number changes? 3 What if my phone is lost or stolen? 3 Which phones can I use for Mobile Banking? 4 Which mobile service carriers support Mobile Banking? 4 I have a prepaid plan. Can I use Mobile Banking? 4 How do I stop using Mobile Banking on my phone? 4 Registration Questions ..................................................................................................................................... 4 How do I get started with Mobile Banking? 4 Do I have to agree to the Terms and Conditions to use Mobile Banking? 4 Can I register multiple users to the same phone? 4 I received my activation code but never used it—what do I do now? 4 I haven’t received the activation code on my mobile phone. What should I do? 4 Alert Questions .................................................................................................................................................... 6 What are alerts? 6 What is the difference between the text messaging service and the alerts service? 6 How do I stop receiving alerts? 6 Text Messaging Service
    [Show full text]
  • Mobile Payments
    Mobile Payments - A study of the emerging payments ecosystem and its inhabitants while building a business case. By: Cherian Abraham Principal Analyst – Mobile Commerce & Payments Practice / Co-Founder - DROP Labs Twitter @ http://twitter.com/cherian abraham LinkedIn @ http://www.linkedin.com/in/cherianabraham For more information on this study and associated research, contact me at EXECUTIVE SUMMARY: The advent of the ubiquitous smart phone has along with it brought dramatic shifts in customer behavior and payment modalities. Banks are finding themselves in an unenviable position of choosing to wait until a secure and safe standard emerges for "Digital", or take the plunge in to these murky payment waters. There is a battle waging for the customer mind-share and emerging revenue streams, between traditional and non-traditional players - who are ever more emboldened by advances in technology and disappearing barriers to entry. The objective of this study is to build a business case for banks evaluating the opportunities and challenges present in building out mobile payment solutions, including direct and indirect revenue generation. This study paints a roadmap of current mobile payment initiatives undertaken by Financial institutions, MNO's and technology upstarts, and to highlight the risks of building payment solutions which are not centered on the payment context. This study summarizes the challenges ahead for mobile payments, including a lack of interoperability, consumer apathy and a general lack of understanding of its merits. It is targeted at financial institutions that may be making first steps, by building out their own mobile wallet initiatives or partnering with others, and seeks clarity.
    [Show full text]
  • Tap on Phone Means Business an Implementation Guide for Merchants
    Tap on Phone means business An implementation guide for merchants FEBRUARY 2020 Contactless is a payment method that gives customers the convenience of making payments without swiping or dipping a payment card. Instead, customers simply tap their contactless-enabled payment card or device on a contactless-enabled reader. Tap on Phone (TOP) is a contactless acceptance solution that is low cost and low maintenance for the merchant. It enables you to easily accept electronic payments by turning a mobile device into a point-of-sale device. ©2019 MASTERCARD. 1 1 Benefits Why you will like Tap on Phone No additional hardware required You do not need to purchase any additional peripheral 1 hardware to accept payments. Accept payments anywhere you are You can accept payment where you are – in your store 2 or on the go.* Secure and fast checkout experience Contactless payments use the same security as 3 EMV chip cards and are fast and convenient, increasing the checkout speed. Why your customers will like Tap on Phone It’s fast No more fumbling around for cash or change – and the 1 transaction is complete in a fraction of a second. It’s secure Contactless payments have low fraud rates when compared 2 to other in-store payment methods because they use the same EMV technology as when a customer dips a card.† It’s convenient Customers can use their contactless card or device 3 (e.g., phone or wearable) to make a payment. *Location needs to have Internet connectivity for functionality. †Mastercard Data Warehouse, 2019. ©2019 MASTERCARD. 2 2 What do I need to know? Important Requirements • Mobile device with Android operating system and Near Field Communication (NFC) capability • Contactless functionality on the customer’s payment card or device – Cards featuring indicate contactless capability.
    [Show full text]
  • User Manual-Mobile Banking Service- SMS Banking Please Note
    User Manual-Mobile Banking Service- SMS Banking Please note : The messages sent through this channel are stored in the sent items folder in the message box in the customer’s handset. To avoid a possible misuse, the customers are requested to delete such messages. Features Enquiry of balance in the account Mini Statement – last five transactions Transfer of Funds -Mobile to Mobile Money Transfer through IMPS Mobile Top up DTH Top up/ Recharge Top up of Mobile Wallet Registration for the Service (It may please be noted that the key words are not case sensitive) Get User ID Send SMS <MBSREG >to 9223440000 You will get a User ID and default MPIN. Change MPIN – It is mandatory for the customer to change the MPIN before visiting the ATM/Branch Send following SMS to 9223440000 for changing MPIN: <Smpin><UserId><Old Mpin><New Mpin> You will receive SMS – “Your MPIN is changed”. It is desirable to change MPIN at regular intervals or whenever there is an apprehension that secrecy has been lost. Register at ATM You will be required to register for the service on ATM or at your Branch. Please ensure that you have changed your MPIN before registering at the ATM. Go to ATM and after swiping your Debit Card choose Mobile Registration–Enter your ATM PIN- Mobile Banking – Registration – Enter your mobile number.- Choose yes after ensuring the correctness of the entry- Then the Mobile Number entered by you is displayed- Choose Confirm. You will get a SMS regarding successful registration. In this process of registration, the Primary Account linked to the ATM card is enabled for Mobile Banking Service.
    [Show full text]
  • Mobile Banking and Payment in China
    MOBILE COMMERCE Mobile Banking and Payment in China Wai-Ming To and Linda S.L. Lai, Macao Polytechnic Institute, China Of the more than 500 million Internet users in China as of June 2013, more than 400 million accessed the Web using mobile devices. This article investigates the development of mobile banking and payment systems in China. hina has developed into an Internet prompt payment, continue to increase. Hence, hot spot.1 In 2008, China surpassed China’s fast-growing mobile market, combined the US in number of Internet users, a with its large and growing consumer economy, number projected to reach 690 million means that it now is poised to become a global Cin 2017. 2 China is also one of the fastest growing force in mobile banking and payments. However, mobile markets in the world, with approximately a number of significant issues prevent wide-scale 451 million cellphone owners. Many of these us- adoption of this technology. ers have not yet availed themselves of 3G mobile services.3 Recent Developments Given the country’s sustained economic As Figure 1 shows, the number of online bank- growth and its 7 to 8 percent gross domestic ing users increased from 40.3 million in 2007 to product (GDP) increase in the past five years, 221.5 million in 2012, and the number of online business activities and volumes in China will payment users increased from 33.2 million to likely continue their rapid development. Online 220.7 million during the same period. The num- banking and payment systems have also rapidly ber of online banking and online payment users developed in the past few years.4 At the same increased further to 240.8 and 244.4 million, time, online retailing transactions and business- respectively, during the first half of 2013.
    [Show full text]
  • Securing the Mobile Banking Channel
    SECURING THE MOBILE BANKING CHANNEL Many banking customers doubt the security of the mobile banking channel. Current solutions to digital fraud have failed to alleviate this unease and have had a negative impact on the user experience. Mobile malware, meanwhile, is fast on the rise, threatening to make the situation worse. If banks want to protect their customers from account takeover fraud and secure their future in a disrupted marketplace, they must innovate. Intelligently reengineering user and transaction authentication on the mobile channel is the first, crucial step on that path. © 2014 Entersekt 1 The mobile opportunity That the world has enthusiastically embraced mobile technology goes without saying, but mobile really has been enormously transformative. Within a few short years, mobile applications have become an indispensable feature of daily life, serving as sources of information, productivity tools or entertaining ways to pass the time. There are now almost 1.4 million Android apps on the market and nearly as many available to users of Apple’s mobile devices.12 By October 2014, 85 billion apps had been downloaded from the Apple App Store.3 To their credit, financial services companies moved quickly to tap the potential of this channel, rolling out functional, albeit basic, mobile banking apps. Many of their retail banking customers have shown their appreciation, signing up for time-saving convenience and accessibility. According to the 2014 Consumers and Mobile Financial Services report by the Board of Governors of the Federal Reserve System, released in March 2014, approximately 33 percent of all mobile phone owners in the USA had used mobile banking in the past 12 months, up from 28 percent a year earlier.
    [Show full text]
  • Dirty Use of USSD Codes in Cellular Networks
    Dirty use of USSD codes in cellular . networks Ravishankar Borgaonkar Security in Telecommunications, Technische Universität Berlin TelcoSecDay, Heidelberg, 12th March 2013 ✆ USSD in mobile communication ☠ USSD network attacks ☠ Andriod Attacks Agenda USSD codes and services in mobile telephony Attacks in USSD network infrastructure Attacks on smartphones (end-users) SecT / TU-Berlin 2 / 35 ✆ USSD in mobile communication ☠ USSD network attacks ☠ Andriod Attacks USSD Basics technology - features - applications What is USSD in mobile telephony? a messaging service between mobile phones and an application server in the network but data is transferred in real time as a session (no SMSC-store and forward) faster than SMS and interactive service supported by all mobiles - feature phones to smartphones why USSD? to increase ARPU (Average Revenue Per User) SecT / TU-Berlin 3 / 35 ✆ USSD in mobile communication ☠ USSD network attacks ☠ Andriod Attacks USSD Applications Services Services based on USSD protocol: interactive data services (News, Sports etc) pre-paid phone top-up and balance queries mobile banking and money services access to social services such as Twitter, Facebook SecT / TU-Berlin 4 / 35 ✆ USSD in mobile communication ☠ USSD network attacks ☠ Andriod Attacks USSD Applications Toilet thinking Motivation stories Airtel Money in India, really? An interesting document playing with NFC protocol on Android with Collin SecT / TU-Berlin 5 / 35 ✆ USSD in mobile communication ☠ USSD network attacks ☠ Andriod Attacks GSM architecture GSM cellular
    [Show full text]
  • An Open Mobile Ecosystem [SR-1206]
    The Technological Foundation for An Open Mobile Ecosystem For over a decade, growth in wireless communication and devices has been hampered by a lack of open standards and programmable devices. But quickly evolving innovation in wireless communication will transform wired networks and mobile devices, providing more flexibility to consumers in terms of choice of operators, equipment, and applica- tions. This mobility explosion is driving investment and innovation in mobile technolo- gies. Three sets of innovations will form the foundation of a mobile ecosystem of plat- forms, applications, services and providers: • Powerful and inexpensive mobile devices • User-programmable mobile devices • Open wireless networks THE TECHnoLOGICAL Foundation foR an Open MOBILE ECOSYStem 1 Powerful and Inexpensive Mobile Devices Smart phones and other communication devices that provide powerful computing capability are becoming more popular and cheaper by the day. In fact, the mobile phones that we carry in our pockets today are more powerful than the most powerful desktop computer of the 1990s. Accord- ing to Nielsen research, the use of smart phones in the United States doubled in the past year. In Japan, the third generation (3G) of mobile phone standards, which enable high-speed data ex- change, has reached 90% penetration. iPhone-like devices from Samsung, LG, and other manufac- turers already sell for $79 to $199. We expect that the price for smart phones will continue to drop, and demand for these phones will grow across the world. iPhone and Blackberry are becoming popular among business users in India, China, and other emerging economies. User-programmable Mobile Devices Mobile devices are becoming programmable by users, making it easier to build large, diverse developer communities.
    [Show full text]
  • A User Friendly Transaction Model of Mobile Payment with Reference to Mobile Banking in India
    International Journal of Information Technology, Vol. 18 No. 2 2012 A User Friendly Transaction Model of Mobile Payment with reference to Mobile Banking in India Vibha Kaw Raina1, U.S Pandey 2, Munish Makkad3 Department of Computer Science Birla Institute of Technology, Noida, India. School of Open Learning Delhi University, India. Department of Management, Birla Institute of Technology, Noida, India Email: [email protected] Abstract Mobile payments are the payments that are carried out through mobile devices in wireless environment. Mobile payment is considered as the accelerator of M-commerce. The internet and the mobile phone are basically two technological advancements that have created an impact on mobile payments. Using a variety of platforms and services mobile devices can perform many activities as compared to traditional payments. Mobile payments have also contributed to the banking industry. Which is a new activity in terms of mobile banking? Banking is an area that has extended by the use of wireless internet and mobile devices. Mobile banking is the symbiosis of technology and financial services. Despite of the convenience and business opportunities mobile banking and mobile payments are not used by people in India especially in the remote areas. This paper proposes a simple model of payment which takes into consideration the different modes of payment. This proposed work introduces alternative ways for providing mobile banking services aimed at Android O.S due to the use of mobile devices. The aim of the this work is to develop a model of payment that integrates with the financial services, including payment and banking ones, based on two primary capabilities: the use of computational resources of a trusted mobile device and the establishment of a user controlled channel with the customers bank.
    [Show full text]
  • Mobile Banking and Mobile Money Adoption for Financial Inclusion
    Research in Business and Economics Journal Volume 9 – August, 2014 Mobile banking and mobile money adoption for financial inclusion Alice S. Etim Winston Salem State University ABSTRACT As the developed economies are poised to transition many smart mobile phone users from the cash-based payment and other forms of digital payments such as the credit/debit card systems to smartphone payment, the emerging economies of Sub-Saharan Africa (SSA) are also finding ways to use their second and third generations (2G and 3G) mobile phones for financial activities (Bold & Rotman, 2012; Donovan, 2012, Ehrbeck et al, 2012; Holmes, 2011; Hughes & Lonie, 2007; Jack & Suri, 2011; The Economist, 2012). The success that Vodafone has achieved in managing the M-PESA Mobile Money, the leading mobile money in Kenya and East Africa is reported in this paper. While M-PESA has brought financial inclusion to millions of Unbanked in Kenya, West African countries such as Ghana and Nigeria lag behind with less than 10 percent adoption rate. This paper provides insight into the lack of mobile money adoption in West Africa through an information and communication technology (ICT) study in Nigeria, the largest country in West Africa. The study was geared towards investigating the use of mobile phones for mobile banking and mobile money services. The author investigated whether participants in the study perceived mobile phones as easy to use for various tasks including mobile banking and mobile money transfers and whether mobile money services were adopted. The findings were that while basic mobile phones were widely adopted and used mainly for communication with mostly family and friends, they were rarely used for servicing high order tasks like mobile banking or mobile money transfers.
    [Show full text]