In an ambitious endeavor to bolster consumer confidence in mobile transactions worldwide, payments industry pioneer AP Technology recently unveiled The Mobile Payments Bill of Rights at the 2015 Mobile Payments Conference held in Chicago. As of press time, the next scheduled stop for this document was a mid-September presentation by AP Technology before members of Congress to discuss industry perspectives on how to manage mobile payments responsibly.
"We're advocating a hands-off policy," said Greg Wilfahrt, Chief Mobility and Marketing Officer at AP Technology, who authored the document in collaboration with payment partners. "We believe that folks in the mobile payments ecosystem can create their own best practices." He noted that the timing of the document was motivated by the fact that the mobile payments sphere is still nascent, and the best time to carve out best practices is when innovation is in its early stages.
According to AP Technology, the document itself is not meant as a directive from one company but rather is intended to be a simple, flexible, living document owned by all that encourages transparency, multiple layers of security and accountability.
"We are hopeful that companies worldwide will add to and adopt the Bill of Rights and that the articles within will evolve, as consumer preferences mandate," said Richard Love, Chief Executive Officer at AP Technology. "Now is the time for businesses and service providers to commit to a level of 'best practices' for the benefit of consumers."
The document, divided into six sections, is absent of legalese for brevity. "What we wanted to do was address several vital items in the bill with regard to everything from payment fees and how consumer data is handled, to transaction security and more, with the ultimate goal being to empower consumers by implementing best practices not just in the United States, but around the world with regard to how people can purchase from their mobile devices anywhere, anytime," Wilfahrt said.
He also acknowledged that up to this point, most of the industry focus has been on payment technology and how to deliver mobile payments cohesively. "Sometimes we get too ingrained in the minutiae of payments from the technology to the flow, but it's the consumer at the end of the day that's going to weigh in and tell us how transactions ought to happen," he said.
Following, reprinted with permission, is the original document. To download a free copy, visit www.aptechnology.com/mobilepaymentsbillofrights.
In order to create and maintain a safe, secure, and progressive environment for transactions occurring on mobile devices and to instill business and consumer confidence in payment processes that promote the anywhere-anytime growth and global exchange of goods and services, this Mobile Payments Bill of Rights was created. The intent of this document is to protect and to serve the interests of mobile consumers, while providing enterprises and mobile payment providers with "best practice" guidelines. By incorporating the Mobile Payments Bill of Rights into their business practices, enterprises will promote safe, convenient, and frictionless transactional experiences that encourage the purchase of products and services available via mobile devices.
1 Secure Transactions
2 Clear Description and Pricing
3 Privacy, Marketing Best Practices
4 Prompt Possession and Satisfaction
5 Customer Service and Technical Support
6 Customer Confidence - Mobile consumers have the right to say, "No."
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