Brett King - bestselling author and the founder of the world’s first direct mobile-only bank Movenbank.
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 [...]
I’ve been recently debating with bankers and credit union executives on the core banking proposition they offer to new prospects. One of the realizations that led me to this was some recent research released by <a href=”http://www.aitegroup.com/Reports/ReportDetail.aspx?recordItemID=899″>Aite Group around the ‘debanked’ generation</a> (Feb, 2012). In March 2011, I released a <a href=”http://www.youtube.com/watch?v=DMcGHLgTV74″>YouTube Video</a> discussing the [...]
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, [...]
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 [...]
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 [...]
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 [...]
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 [...]
Square POS and Cardcase, ClearXchange (BofA, Chase and Wells), Visa NFC trials, Google NFC trials – wow! Mobile Payments just arrived big time this week in the US particularly. So what does it all mean? Inevitability is biting Clearly there’s a bunch of very smart people that have all come to the same conclusion over [...]
