The UK is open for business and the time for opportunity is now
Experts discuss some of the biggest shifts to hit the UK mobile paid-for content and carrier billing services market in a decade.
Summary of Carrier Billing & Mobile Payment Summit Panel
UK Regulation – are you ready for the biggest change in a decade? With Ofcom taking on the regulation of the interactive media, mobile and carrier billing services from next year, are businesses ready?
“The UK is very focused on regulation because we’ve had to be, and there has been lots of change in the last 5 years but most of it for the better.” The UK has now created an environment focused on consumer trust and longevity around mobile paid-for content and carrier billing services.
We’re coming to the end of a long regulatory journey and this is why it is a good time to join the UK market. We’re now in a place where we have collaboratively produced a market that is healthy and sustainable.
Consumer complaints have reduced by over 90% in the last few years due to regulatory changes AND those made by industry. The focus is now analysing how customers feel about and respond to 3rd party content and continually widening and improving the offering.
Upcoming changes in Regulation
With the change in regulators from the PSA ( who have been the incumbent for decades) to Ofcom, there will be some differences, but with such a strong base the market will continue to be a healthy environment in which to do business. Ofcom taking over the regulatory space is the right direction for industry.
Risk Management and Due Diligence is a focus for Ofcom and all those in the value chain now take on this responsibility. However there is lots of guidance available on getting this right. aimm have run several workshops over the last two years for our members, making sure there is clear understanding of the requirements.
Globally the rest of the world can learn from the UK model. The UK is often where regulatory changes happen first but that means that now we have a commercial marketplace that will welcome and nurture quality business.
This new UK regulator and regulatory model offers new opportunities that will provide a stable foundation for many years to come. With a Statutory Instrument now coming into force there is stability in the regulation ahead, as this cannot be changed. This also removes any concerns about correctly interpreting regulatory codes.
What does this mean for the UK?
What this means is that the UK is ripe for innovation and growth. Direct Carrier Billing (DCB) has grown every year, and this new regulatory framework will make it easier to understand how to enter the UK market.
So what should merchants do to prepare? It is for important for new entrants to understand the regulation and to collaborate with others in the value chain through Trade Associations such as aimm, who are sharing knowledge, providing opportunities for collaboration and keeping communication open. Everyone from Network Operators, Intermediaries, Merchants and Anti-Fraud Providers are at the table ready to help.
There is support across industry for new merchants. aimm will work with newcomers to be the bridge between the regulators and industry offering. We do this through our working groups, advice, best practice guides and documentation templates.
If there are businesses wanting to consider entering the UK, take the time to look at all the information that is available and we’ll help you get an understanding of the regulatory landscape. aimm has members from across the value chain and from within and outside of the UK.
There is nothing to be scared of.
Google Ads Guidance
Industry are working together to create clarity around the expectations around Google Ad creation such as the content and quality of the adverts and the consumer journey.
If you are new to the market this information allows you to get a head start as aimm and MCP Insight are working with members to create a live document – a handbook and guidance, so consumers are protected and businesses can make the best returns on their investments..
The guide will tackle the challenges faced when creating responsive banners, such as regarding the placement of key information and how it displays. Compliance and consumer protection are key here.
aimm’s new Google Ads Working Group is another example of industry collaboration which is merchant led, allowing the opportunity to react quickly when issues are identified, and be proactive in solving them.
We want to help the responsive ads industry to understand how to address issues by sharing information and sharing experiences to improve the environment for Industry and as such, consumers. This will avoid longer term issues or unrequired regulatory management helping businesses to thrive.
When the value chain contributes and participates in working groups and forums in this way, it creates great balance for industry and helps make regulation user friendly and easy to implement.
Why come to the UK?
It is now a level playing field with a stable future for mobile and carrier billing services due to this new shift in regulation.
Globally new acquisitions are being turned off due to bad practice and poor regulatory practice. There is not the same concern in the UK with a new framework in place and an environment that supports teamwork.
This means that businesses are growing in the UK. Complaints have reached an all time low, and less complaints equals more repeat business which in turn brings further growth. The opportunity for carrier billing is unrivalled.
Joanna Cox of aimm summarised by stating “The UK has long been known for being robustly regulated but with this new era of regulation AND market collaboration, the time to enter our market is now.”
This panel at the Carrier Billing & Mobile Payments Summit was chaired by Joanna Cox, General Manager of aimm. The panel members were: David Ashman of MCP Insight, Victoria Hull of Dynamic Mobile Billing, Peter Garside of EE and Leon Dijksman of Sam Media
For more information please contact Joanna Cox at joanna@aimm.co
