Apple and Samsung might be dominating the headlines in the world of mobile wallets, but there’s plenty of activity happening behind the scenes. Based in Oslo, Norway, MeaWallet offers a number of services including white label mobile wallet services to banks.
In an interview in the Finetics™ Studio by The Bancorp at Money20/20 in Las Vegas, CEO and founder Lars Sandtorv shares his thoughts on the past, present, and future of mobile payments, plus what he’s learned as a founder.
“Banking finance is slow,” says Sandtorv. “You need to have a lot of time and a lot of money to do it and of course it takes time to build trust.
“I started working with mobile wallets, or NFC, back in 2002. A long time ago and since then there have been a lot of different technologies and a lot of things going on in the market. You have to understand a lot in this market, and it’s really complex. There’s the bank side, the payments side, the IT side, the security side, and the mobile network side. You have to have a flexible solution that is secure.”
Access more Lars Sandtorv’s full interview, plus more insights on ‘The Shift from Digital Banking’ from Ryan Caldwell, Founder and CEO, MX; Ben Katz, CEO and Founder, Card.com; Hamed Shahbazi, CEO, TIO Networks and Pete Chiccino, Executive Vice President and Chief Information Officer, The Bancorp on The Bancorp’s Finetics blog.
In this guest post, Anthony Walton, CEO of Iliad Solutions, explores how businesses and regulators can increase the safety and efficiency of transactions, and introduce technological advances into the system.
Payment terminals have stayed the same over the last 10 years, with steady advances in contactless and mobile wallet transactions. Retailers and brands are making a conscious effort to get closer to consumers.
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