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Siemens CMT to launch new walletXpress at Mobile Money Global in DubaiThe evolution of mobile payment on one platform (October 28, 2011)
According to Dr Francesco Prato, Sales Director Siemens CMT, the company will demonstrate the walletXpress platform for the unbanked and developing countries as well as its evolution in other verticals, such as multimedia systems, and show how NFC technology is supported.
He explains: "there are hundreds of mobile payment solutions on the market. Most of them are IT-based. Very few are Telco-based. Siemens CMT is convinced that, in order to fully benefit from a mobile payment solution, a carrier-grade solution like walletXpress is a must. The system has to be reliable, secure and scalable enough to meet today`s needs and take advantage of tomorrow`s opportunities!"
No big investments needed
According to Dr Prato, to deploy mobile payment, no big investments are needed: "You can start small and grow big while rolling out new services. There is no need to replace or upgrade your expensive hardware. However, what you really need is to partner with tier-1 suppliers like Siemens CMT, who were around yesterday, are around today and will be around and available tomorrow."
The evolution of mobile payment
Dr Prato is one the headline speakers at Mobile Money Global, with a presentation on "The Evolution of Mobile Payment on one platform". He says: "over the last years there have been several attempts to deploy mobile payment solutions. Some of them are quite successful, while many others have failed. A lot of them have failed because of technical issues, such as a lack of stability, performance, scalability, and security. Many others have failed because huge investments have been made up front, with weak business models behind them to justify the investments."
He continues: "while technical issues are being solved now by choosing more reliable and better performing systems like walletXpress, the ones with a weak business model behind them have not been solved yet. In fact, over the years we all have realised that there is no reasonable killer business model and no deployment that can be easily replicated in other countries."
About Siemens CMT
Siemens CMT (Communications, Media and Technology) is the global partner for communication and media demands within a broad range of market segments. CMT provides its customers with innovative products, turnkey solutions, and services in the fields of communication networks, service and customer management, public security, multi-media infotainment, and aerospace technology.
CMT is a unit of Siemens Austria located in Vienna with representation in CEE, Germany, India and China. Its presence in emerging and mature markets, together with a powerful network of partners, provides a strong basis for activities in more than 70 countries all over the world.
For more information, go to www.siemens.at/cmt
Pre-conference Mobile Money Academy Workshop: 31 October 2011
Post-conference Mobile Money Academy Workshop: 3 November 2011
Conference: 1-2 November 2011
Location: Intercontinental Hotel, Festival City, Dubai
MM Global forms part of the Connected World Forum, which also includes the events, Mobile Life and Mobile Health. www.connectedworldforum.com
Related Keywords:Mobile Money Global, Dubai, UAE, Siemens CMT, walletXpress, mobile money transfer, mobile payment solutions, Francesco Prato, Connected World Forum