FTC To Host Workshop on Mobile Payments and Their Impact on Consumers, Project No. 124808 #561018-00013 

Submission Number:
Cherian Abraham
Initiative Name:
FTC To Host Workshop on Mobile Payments and Their Impact on Consumers, Project No. 124808
I am founder to DROP Labs, a Mobile Commerce and Payments Advisory Practice based in Richmond, VA. I work with both issuing banks and retailers in helping them articulate a mobile commerce and payments strategy. I publish posts around mobile commerce on my blog at www.droplabs.co as well as on MobilePaymentsToday, an industry website. Further, I am a Member of Editorial Board at E-Finance and Payments Law and Policy, a U.K based international legal journal focused on online banking and payments. I would like to assist in this effort (and further participate) to conduct a workshop around Mobile Payments. The questions that this workshop attempts to address are all what I work with every day - such as the customer and transactional information that is collected as part of mobile payment. Further privacy and security issues around mobile commerce warrants further attention so that customers feel appropriate protections are in place to prevent both unauthorized access and dissemination of said data. As the payment form factor shifts to mobile, the amount of contextual data that can be collected about a specific transaction will explode, and further provide both the issuing bank, the retailer and other stakeholders along the payment chain, to use this data to better target customers with offers they find appealing. Though this specific value add is core to the notion of mobile payments and enabling some of the unique solutions around mobile commerce, it is utmost important that transparency is brought to this process. I think FTC should work with Fed Reserve, current payment stakeholders, retailers, Carriers, Over the top players (like Google, Apple, Facebook etc), Startups, Mobile Payment and customer advocates to facilitate an open standard around mobile payments. And I would be glad to assist. Further, I have attached here the pdf to a whitepaper I had created mid of 2011 around the emerging mobile payments landscape. It further identifies the technologies and players in this nascent ecosystem. -- Cherian Abraham http://twitter.com/cherian_abraham http://www.linkedin.com/in/cherianabraham http://www.droplabs.co/[redacted]