MEF North America Launches M-Commerce Initiative Focused on Security and Privacy of Mobile Payments

Initiative to Tackle Privacy and Security Threats in M-Commerce

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Dec 01, 2010, 10:15 ET

MIAMI, SAO PAULO and LONDON, Dec. 1, 2010 /PRNewswire/ -- At their inaugural Americas gathering today, MEF announced a mobile commerce initiative aimed at increasing consumer confidence in M-Commerce. According to a KPMG Consumers & Convergence IV 2010 global survey, "Nine out of ten consumers are still worried about online privacy and security." By focusing on the security and privacy of mobile payments, the MEF initiative aims to bring brands, content owners/producers, carriers and retailers together to create transparency in mobile transactions.

Earlier this year, MEF published its authoritative M-Commerce Guide, which showed that more than half of global consumers use their mobiles to pay for goods, services or content. The guide educated the broader industry on the opportunities for M-Commerce including the various business models available today to help retailers, brands, and content owners leverage the mobile device to drive customer acquisition, retention and, most importantly, conversion. This second phase of the initiative will see the formation of a MEF working group dedicated to setting standards for the most pressing issues facing broad adoption of mobile commerce today, including:

Ensuring clear and consistent rules for privacy and security that are easily accessible to consumers
Promoting transparency in all transactions
Reducing compliance costs and complications while enabling retailers to keep pace with change
Guarding against fraud

"While mobile payment technologies can offer convenient ways to pay for goods, services and content, there is considerable concern among players throughout the mobile and retail ecosystem about how secure mobile payments really are," said Gary Schwartz, MEF N America Chair and CEO, Impact Mobile. "As m-payments are posed to accelerate in 2011, our initiative will reduce compliance costs for the retailers and at the same time increase shopper confidence in this new channel."

"This new MEF initiative builds on our expertise in M-Commerce and sets out what the mobile and retail industries can and must do in order to ensure that use of personal data is protected at every phase," added Sanjaya Krishna, MEF N America Vice-Chair and Principal / US Digital Services Leader, KPMG LLC. "This crucial initiative will focus on ensuring that customers can engage with brands and retailers with complete confidence and transparency."

About MEF Americas 2010: Mobile Content & Commerce

MEF Americas 2010: Mobile Content & Commerce is the annual gathering of leaders in the mobile content and commerce industries from North and South America to set the agenda and grow the market for nearly one billion mobile subscribers. Taking place on November 30 and December 1, 2010 in Miami, the conference features two MEF Leadership Summits providing an unprecedented opportunity for leaders from across the Americas to address the industry's key dynamics and drive new business.

MEF Americas 2010: Mobile Content & Commerce features keynotes from Nokia, Macy's and Sony Pictures Home Entertainment; and includes sessions that focus on the fastest-moving segments of the market, including: the transformation of the mobile ecosystem; the technology and platforms that are enabling m-commerce; the next great idea in apps and services; mobile discovery as a sales channel for the retail market; security and privacy in the mobile age; and harnessing the power of social media.

The event is supported by 14 Founding Members including Dada, Dolby, Impact Mobile, KPMG, mBlox, Movile, Neomobile, OpenMarket, Ovi by Nokia, PaymentOne, PlayPhone, Samsung Mobile, Syniverse, Wau Movile.

About Mobile Entertainment Forum (MEF)

MEF is the global trade body of the mobile media industry. It represents the leading companies throughout the entire mobile entertainment value chain, and works on behalf of its diverse membership to facilitate industry growth, shape regulation and deliver competitive advantage to its members.

With headquarters in London and regional chapters covering Asia, EMEA, LATAM and North America, MEF is a member community with global reach, vibrant local representation and strong leadership to drive market change. Established in 2000, MEF provides a consistent and powerful voice for the foremost mobile media businesses and entrepreneurs.

www.m-e-f.org or www.m-e-f.blogspot.com

SOURCE MEF