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Mobile payments briefing

22 Jan 2014
AuthorRobin Simpson
IssueFinancial services

The number of mobile phones in circulation is projected to reach 7.3 billion in 2014,  outstripping the number of people in the world in 2014.

More have mobile phones and we are doing more with them.

At the same time, the World Bank estimates that 150 million new consumers join the market for financial services every year.

Making payments using our mobile phones is becoming an everyday occurrence for millions of us, and this is set to be a growing trend in how we spend, send and receive money.

It is important that we can do this safely securely and that we have the same rights protections.

To support this aim CI is working with the OECD, the UN and the International Standards Organisation (ISO) to introduce and enhance consumer protection in mobile payments.

This briefing paper will  sets out the main issues with consumer protection and mobile payments:

  • Background on Mobile payments
  • Main consumer protection issues
  • CI Activities
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