MEF Director of Programmes James Williams shares a short documentary put together by MEF members Evina and Telecoming examining the work of the Direct Carrier Billing (DCB) for Growth working group.
The mobile content market grew a staggering 24% YoY from 2019 to 2020, ending up at over US$120 billion. Cinema box office and music recording revenues combined in 2020 were a paltry US$37 billion by comparison. Little wonder therefore that carrier billing is seeing a nice bump in numbers on the back of this thriving mobile content market. But carrier billing can be about much more tan mobile content alone.
The power the convenience and speed of mobile phone billing brings with it to the area of for mobile payments means it has a bright future ahead of it. But all is not rosy….
With a burgeoning market comes the spectre of an increasing number of bad actors and fraud which has the potential to truly damage the lives of consumers. It’s mobile subscribers and consumers in general who ultimately support the industry so maintaining trust is critical. And collaboration is the only way forward to achieving this.
MEF has a thriving Direct Carrier Billing (DCB) for Growth working group and we’re very proud of the fantastic work that our members have done, coming together to create a host of great educational initiatives. Just one example of this is an impactful short documentary put together by our members Evina and Telecoming.
The mobile economy has a significant impact worldwide, and its growth contributes valuably to global society. However, as the volume of interactions, users and data increases, so do the threats. By its nature, fraud is something natural in the payments industry, whether they are digital or not. So the greater the number of transactions, the greater the fraud attempts.
Protecting transactions is essential, as much as protecting the industry. The challenge is to fight fraud together, united to protect our reputation, our brands, and, above all, protect the customer and give them the confidence to choose DCB as the best payment method for mobile consumption“
As experts in direct carrier billing, Evina on the security front and Telecoming as a tech monetization company, considered it necessary to create a mini-documentary about a problem affecting all industry players: fraud.
According to some studies, fraud will most likely reach 150 billion dollars in five years if the industry doesn’t implement reduction measures. Attacks from fraud damage the entire mobile ecosystem: end users, merchants, payment gateways, and mobile operators.
This explanatory video is part of a broader effort to call up mobile players on the true impact of fraud on businesses where mobile represents a significant portion of revenues.
We invite the whole mobile community to watch this documentary to understand that we can win if we fight together.
David Lofti CEO – Evina: “In addition to providing mobile players with cutting-edge anti-fraud technology, we’re sharing our cybersecurity expertise to shed light on how fraud works on DCB, why it needs to be stopped and how to combat it. Fraudsters earn a commission for each user they secretly and unwillingly subscribe to a service. They use an array of different malicious techniques to defraud users, and we’re here to expose fraudsters and show you the damage they do to businesses.
Ali Karaosman MEA Operations Director – Telecoming: “It is essential to have a global vision of the needs of each country and its user communities to protect against fraud. Although threats are common in the digital world, each region behaves differently when it comes to mobile transactions.”
Joan Larroumec – CMO Evina: “The impacts of mobile fraud start with a user unhappy about being defrauded, rising complaint rates and damaged brand image for all players involved: merchants, payment gateways and MNOs. The negative impacts can go much deeper and include unoptimized media buys for advertisers, service cuts and missed business opportunities.”
Roberto Monge COO – Telecoming: “The digital world is fascinating. Big companies and brands, especially the early adopters, are moving towards a more complex and sophisticated ecosystem. Protecting transactions is essential, as much as protecting the industry. The challenge is to fight fraud together, united to protect our reputation, our brands, and, above all, protect the customer and give them the confidence to choose DCB as the best payment method for mobile consumption”.