Understand the key players in the mobile-payment business. Consider the role of mobile operators, banks and retailers (such as restaurants, gas stations and supermarkets) and how they may affect the mobile-payment transactions. Bringing in these players will ensure that standards are developed and appropriately implemented in a global economy.
Construct mobile-payment infrastructure in order to create standard platforms for payment. Required infrastructure includes installing security in the payment systems, establishing point-of-sale terminals and processing software that is compatible with mobile-service operators.
Develop technology in Near Field Communications (NFC), which will allow customers to purchase goods by swiping their phones on various payment terminals. Through NFC, mobile payment is standardized to allow users to make transactions, irrespective of mobile network or phone type.
Apply the UICC (Universal Integrated Circuit Card) as a standardized platform for storing important data in mobile phones that are NFC enabled. Standardizing payments can also be made possible by inserting a SIM or memory chip into a phone, so as to secure global mobile transactions.