Stripe and Spheres

Solutions from RiskSkill

Mobile Wallet Consultancy Services

Mobile Wallet Payments Risk Review & Fraud Prevention Services.

Everyone and anyone has been launching Payment Wallet products - whether they are major global IT vendors, software houses, telcos, new-internet startups, international card schemes and payment systems, banks etc. etc.

There are regular - even daily announcements - about joint ventures and major developments in the area of mobile wallets and payments.

 

Riskskill established a Mobile Payment Special Interest Group (SIG), as it recognised a need for people developing financial products in this area to develop risk reduction strategies built into the products.

 

All risk aspects of the product(s) need to be considered equally with the projected rapid growth of the global mobile payments sector over the next few years to ensure that protections are ‘built right into the products’.

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About Our Mobile Wallet Consultancy Services

One of the findings of the SIG related to the complexity of the market and the need for consistency, interoperability, as well as regulation and governance – where none exists. This really is the wild-West now, and so many of these initiatives and players are backing horses that will not even be 'in the race'. There is even confusion on what Mobile is, what Wallets are, what M-Commerce is, what Identity is or authentication. It is not clear who will survive and who will not survive.

There are no right answers at the moment; but Riskskill specialists will:

  • Help your Executive team or Board, your senior management, or development team to collate their views, ideas and thinking.

  • Facilitate workshops to drive planning and direction.

  • Provide advice on strategy and direction on what to do and things to avoid.

  • Help to reduce risks when moving products and services into wallet solutions and emerging wallet architectures.

  • Ensure that authentication management and identity issues are understood.

  • Ensure that Anti-Money Laundering (AML) requirements are met

  • Help avoid a major catastrophic loss from criminal attack.

We help our clients to:

  • Enter the market with a greater clarity on and a better understanding of the market dynamics and especially of the risks of failure.

  • Understand how when to change direction and to work on a different product strategy or direction.

  • Operate with ‘open eyes' to the market risks and what to do about them.

  • Recognise the market as it changes and the developments going on in the sector together with the competitor activities.

  • Forge the right alliances - whether operational or strategic.

  • Acquire or sell to the right partners, and to carry out appropriate due diligence.

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