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Secure transactions ROI

Week 04, 2013

“CTIA, the Wireless Association”, a US-based association representing the communications industry, just published its quick facts with a lot of smart data including “the wireless industry directly/indirectly employs more than 3.8 million Americans, which accounts for 2.6% of all U.S. employment”, “the U.S. wireless industry accounted for US$ 33 billion (EUR 24.7 billion) in productivity improvements for U.S. businesses in nine categories”, “for every US$ 1 (EUR 0.75) invested in wireless broadband, it will create an additional US$ 7 - 10 (EUR 5.25 – 7.50) for U.S. GDP”.

 

Isn’t it time the secure transactions industry comes up with a similar set of data demonstrating our utility to the global economy?

 

For instance, we can demonstrate that during a global economic crisis, the secure transactions industry has been growing and hiring people. We could demonstrate that we bring efficiencies in many human activities. For instance, democracy is progressing as people are better informed thanks to mobile communications and at the end SIM cards, commerce is more profitable and involves a larger number of people thanks to payment cards, governments are able to deliver better services to populations thanks to better population registers, and better identification documents… Companies are more secure thanks to the large array of solutions developed by our industry, allowing them to become safer, more efficient, and at the end more profitable to all. Transport operators are more efficient in their use of taxpayers and commuters money thanks to better payment systems. Mobile money as used in many countries has already demonstrated how it can improve economy, the use of NFC still has to demonstrate it…

 

So who, in our secure transactions community, is going to come up with the right set of stats to demonstrate our global contribution to the world?

 

Thierry Spanjaard

Chief Editor

Smart Insights