We know that the appeal of mobile operator billing is rooted in a consumer desire for convenience. With technology innovating so rapidly, consumers expect all aspects of their lives to be quick, easy and solvable at the touch of a button. This is particularly true when it comes to payments: whether it’s buying a ticket or donating to their favourite charity, consumers want things immediately sorted.
Now that we’ve entered 2018, this desire for ease and efficiency will only accelerate and there is a thirst for increasingly frictionless payments. It is predicted that by 2020, 90% of mobile phone users will have made a payment using their mobile phone, and consumers will expect these transactions to run smoothly.
Here at Fonix, we’re as keen as ever to take advantage of the growing mobile operator billing trend. We’re moving into sectors that are not currently covered by mobile operator billing and making more payments as seamless as possible. Whilst we’ve cemented ourselves as the payment method of choice in sectors such as charity, 2018 is the year of taking our newer sectors such as ticketing to the next level.
Embracing changes brought about by PSD2
Other than the growing popularity of mobile operator billing, a major change in the market is the introduction of PSD2, which comes into effect on 13th January 2018. This payment services directive is the EU’s latest set of regulatory technical standards, which will enable consumers to benefit from safer and more innovative electronic payments. The changes it will bring about create a fantastic opportunity for Fonix to grow; PSD1 restricted which goods (such as eBooks and music downloads) could be billed to the consumer’s mobile phone bill after purchase, which was holding back the market.
The introduction of PSD2 has meant areas including ticketing are no longer restricted. This has given Fonix the opportunity to break into the market to provide payments for transport and cinema tickets among others.