The Mobile Entertainment Forum (MEF) has unveiled a mobile commerce initiative aimed at increasing consumer confidence in mCommerce. The initiative follows the release of the KPMG Consumers & Convergence IV 2010 global survey earlier this year, which found that nine out of 10 consumers are still worried about online privacy and security. By focusing on the security and privacy of mobile payments, the MEF initiative aims to bring brands, content owners/producers, carriers and retailers together to create transparency in mobile transactions. 

Earlier this year, MEF published its M-Commerce Guide, which revealed that more than half of global consumers use their mobiles to pay for goods, services or content. The guide educated the broader industry on the opportunities for mCommerce, including the various business models available today to help retailers, brands, and content owners leverage the mobile device to drive customer acquisition, retention and, most importantly, conversion.

This second phase of the initiative will see the formation of a MEF working group, dedicated to setting standards for the most pressing issues facing broad adoption of mobile commerce today. These include ensuring clear and consistent rules for privacy and security that are easily accessible to consumers; promoting transparency in all transactions; reducing compliance costs and complications, while enabling retailers to keep pace with change; and guarding against fraud.

“This new MEF initiative builds on our expertise in mCommerce and sets out what the mobile and retail industries can and must do in order to ensure that use of personal data is protected at every phase,” says Sanjaya Krishna, MEF N. America vice-chair, and principal/US digital services leader at KPMG LLC. “This crucial initiative will focus on ensuring that customers can engage with brands and retailers with complete confidence and transparency.”