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Mobile phone transactions and authentications are 'green'.

In the search for ways to lower your institution's carbon footprint - mobile phone transactions and mobile ID verifications are a winner.

Your customers already have a mobile and they are being purchased and swtched on whether or not you let your customers use them for ID verification and transactions.

Some of the energy and resource savings delivered through mobile phone transactions:

Imagine a pile of 3.3 billion rfid cards - in the rubbish every 3 years - is that really 'smart'?

How many readers do cards need? Millions. A lot of resources to make, connect and maintain them - a big pile of rubbish left afterwards.

The energy to power up millions of 'smart' card and eftpos readers could power a 3rd world mobile network. 

Most businesses already have internet access - this can make the eftpos network redundant for mobile transactions, so all those phone lines, data connections and card readers can be a thing of the past and the power used to run them can be saved or diverted to better use.

Mobile transactions can be easier, safer and result in lower fraud, meaning a whole lot of resources aren't wasted investigating fraud and powering call centres.

Mobile phones instead of cards and paper receipts can save even more plastic and paper. 

The right methodology for mobile transactions uses the least possible mobile network resources,  resulting in a faster and better customer experience while lowering costs all round - so mobile transactions really are a 'green' solution. 

Of course there are varying approaches to mobile transactions and security and not all mobile transaction providers may be able to deliver all these gains - so choose carefully.

Comments: (2)

A Finextra member
A Finextra member 01 April, 2008, 08:36Be the first to give this comment the thumbs up 0 likes

Good point - In a vast number of cases Optical Reading through Mobile rather than RFID can achieve the same, or better, solutions (and often at far less cost) + as you so rightly say, it's far more green.

Any business considering RFID should look at the Optical Reading alternatives and intelligent mobile solutions now available.


A Finextra member
A Finextra member 03 April, 2008, 17:18Be the first to give this comment the thumbs up 0 likes

I always thought that a barcode scanner was a perfect addition to the phone, the possibilities.....I think with the improvements in cameras in phones we may see it mature as a great enhancement.

Some fool put a barcode scanner in a fridge so we could scan what we used and add it onto the shopping list, they should have put it into the phone, that's where the list belongs. It could also be used to buy from a billboard or print media and as a hyperlink builder from any printed barcode.

The advantage with optical recognition is that it may enable us to link from any printed text. Scan title or link text with your phone and it appears in your browser next time you open it. Go Google. Probably already in beta.

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Going green

Assessing the carbon footprint of fintech and looking to the future.

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