When Payments Disappear, and Value Emerges

GartnerHypeCycle

Ok, so if you think we’re done with the whole “when is a mobile payment a payment” argument, think again. The reality is that the biggest evolution in payments is not about Visa, Mastercard, Amex, Square or faster payments, but it is about context and simplicity, and that’s where the mobile and other technologies are [...]

What the Square and Starbucks alliance means for payments…

Starbucks has the most successful mobile payment deployment in the US to-date

Square and Starbucks just announced their intent to form a partnership for the purpose of improving or ‘revolutionizing’ in-store payments around the approximately 1,700 retail stores and 5,000 other points of presence in the USA. Square has had phenomenal success growing their merchant base to 2 million users in just over 2 years, which when [...]

Mobile Banking versus the Mobile Wallet – what’s the difference?

With recent news that Barclays Pin-git (or is it Ping-it) has had 120,000 downloads in 5 days, that Square has 1m merchants on their payments platform (1/8th of all US card merchants/retailers) and Starbucks is doing 25% of it’s North American payments via a cardless App – it seems like Mobile Payments are taking off [...]

Changing your banking instinct

Without thinking consciously about it, over time core behaviors change producing different instinctive reactions. When a phone rings today, we go to our pocket or purse, not running to a device on a desk or on the wall. When we are interacting with a mobile phone that is not our own or an ATM machine, [...]

When a Telco becomes a better bank…

The announcement that the Canadian carrier Rogers Telecom has applied for a banking license should hardly come as a shock to the retail banking fraternity. There is already a plethera of mobile carriers fully engaged in mobile payments right now, from Safaricom in Kenya, Orange (with Barclays) in the UK, the ISIS collaboration in the US, LG Telecom in South [...]

The Modality Shift of Banking – Part 3

Massive spend on innovation at the front-end of retail financial services Putting aside conjecture of whether or not we are in a bubble at the moment around tech, social media, and mobile services (which I believe we very well could be), the reality is we are seeing a flurry of massive investment in new distribution [...]

The Modality Shift of Banking – Part 1

There’s a philosophy I characterize as “Lucky to be a customer” within banking today. A customer comes to the bank, we make him jump through hoops we often call risk assessment, customer profiling or KYC, and then maybe, if they are not too risky a proposition, we might let them be our customer. This philosophy [...]

Google Wallet is not about Payments

Last week Google announced their long awaited NFC-trial for mobile payments. On the face of it, many perceive that Google’s play is an attempt to cannibalize the lucrative payments market, but if that was the case, why has Google not taken a share of interchange fees from Citi and Mastercard? In addition, Google is supplying contactless point-of-sale units [...]

The emerging Mobile Payments and KYC clash

When the commercial internet became popularized in the mid-90s the emergence of e-Commerce quickly led to some amazing new business models, and inevitably the hype of the dot com bubble. While much of the dot com ‘crash’ survived and thrived (e.g. Google, Yahoo, Amazon) there were those that appeared happy to proclaim that the fad [...]