Claire Maslen from the Mobile Ecosystem Forum highlights untapped potential in digital wallets

Claire Maslen has built a distinguished career spanning more than three decades within the mobile, payments, and commerce sectors. With a background that includes leadership roles at prominent technology and telecom companies such as Cisco and O2 (Telefónica UK), Maslen has been at the forefront of driving innovation and strategic initiatives in these rapidly evolving industries. Her expertise extends across various domains, including digital transformation, mobile technologies, payments infrastructure, and strategic partnerships.

Recently, Maslen made a significant career move, transitioning to the Mobile Ecosystem Forum (MEF) as Programme Director for Commerce and Payments. MEF, established in 2000, serves as a global trade body advocating for best practices, anti-fraud measures, and monetization strategies within the mobile ecosystem. In her role, Maslen leads initiatives aimed at fostering collaboration among industry stakeholders to advance technological innovations and regulatory frameworks that support secure and efficient mobile transactions worldwide.

During an exclusive interview with CNME, Maslen shared profound insights into the future trajectory of mobile payments. She emphasized the critical importance of infrastructure in enabling seamless transactions, drawing parallels between payments and utilities like electricity and water. Maslen's perspective underscores the essential role of robust connectivity, especially as advancements in mobile technology, such as 5G and emerging technologies like ultra-wideband, promise to revolutionize transactional efficiency and consumer experiences.

Maslen articulated a vision where digital wallets evolve beyond their current functionality as mere virtual replicas of physical payment cards. She envisioned future digital wallets infused with artificial intelligence (AI) capabilities, empowering them to offer personalized financial insights, optimize spending behaviors, and seamlessly integrate with various merchant platforms. This evolution, she believes, will not only enhance user convenience but also drive greater adoption of digital payment solutions across diverse consumer segments.

Reflecting on her tenure at O2 (Telefónica UK), Maslen discussed the complex dynamics faced by telecom operators in balancing innovation with the foundational requirement of maintaining reliable communication networks. She highlighted the strategic initiatives undertaken by telecom giants to foster innovation hubs and strategic acquisitions aimed at enhancing technological capabilities and customer offerings amidst competitive pressures and regulatory challenges.

Maslen also addressed the emerging landscape of Central Bank Digital Currencies (CBDCs), distinguishing them from cryptocurrencies and emphasizing their potential to streamline cross-border transactions, enhance financial transparency, and reduce transaction costs. She underscored the growing interest among financial institutions in exploring the implementation of CBDCs as a means to modernize payment infrastructures and address evolving consumer expectations for faster and more secure digital transactions.

In the realm of social commerce, Maslen explored its transformative impact on consumer behavior and retail dynamics. She highlighted the role of social media platforms in facilitating direct consumer transactions, driven by influencer endorsements and personalized marketing strategies. However, Maslen cautioned about the rising incidence of fraud in social commerce transactions, advocating for stringent verification measures and enhanced security protocols to safeguard consumer interests and trust in digital transactions.

Looking ahead, Maslen's insights position her at the forefront of shaping the future of mobile payments, digital wallets, and commerce ecosystems globally. Her deep industry knowledge, coupled with a forward-thinking approach to technology and regulatory landscapes, underscores her pivotal role in driving innovation and fostering strategic partnerships that will define the next phase of digital transformation in the payments industry and beyond.