More consumers than ever before are turning to their mobile devices to conduct banking transactions via SMS and Rich Communications Services (RCS). In fact, the Global Mobile Money Market size was valued at USD 4.24 Billion in 2020 and is projected to reach USD 31.88 Billion by 2028, growing at a CAGR of 28.67% from 2021 to 2028. But, while the opportunity for the booming mobile money market is great, it does not come without challenge – specifically around the mobile wallet itself. During the CFCA Summer Education Event session, “Protecting the Mobile Wallet: Why Number Portability is Critical to Safeguarding Mobile Banking,” iconectiv’s Jonathan Herttua, Director of Information Solutions, and Carolyn Knight, Senior Account Manager for the company’s United States Local Number Portability (LNPA) team will examine how number portability data can be used in a new way to help keep mobile money safe for customers and banks.
May 24, 2022