Global premium rate body sets out its vision for regulation and consumer protection.
The International Audiotex Regulators Network has used its member conference in Australia over the weekend to gain global support for its fixed and mobile micro payments initiative.Specifically, the organisation has produced a handbook that sets out why regulation is "a critical contributor to public trust, the considerations that apply when countries are considering consumer protection measures and the core elements of rules to ensure fair markets and protected and confident consumers".
The handbook is available from the IARN website (follow the Handbook link on the left).
IARM says that mobile is the fastest-growing segment of a sector expected to generated $40 billion this year, encompassing mobile content, participation TV, social-networking sites, value-add directory services, charitable-giving, etc.
The IARM initiative, which has been advised on by ex-UK watchdog (PhonepayPlus) chief George Kidd, has the support of the Mobile Entertainment Forum and the Mobile Marketing Association.
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Speaking in Australia, Kidd said: “The mobile payments market has the potential to soon besoon to four or five times the size it is today. Consumer trust is the critical factor. And trust is indivisible. If consumers have trust they could use their mobiles for banking, money transfers, location-based services, to buy a far wider ranges of services and goods. If they lose trust these opportunities will go unfulfilled.”
