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 [...]

The US is becoming the world’s largest closed-loop payments system

Two-thirds of all checks written globally originate in the US today

Last year the US contributed close to 20% of the world’s GDP despite coming off the back of the biggest economic downturn since the 1930′s Great Depression. The US, UK, Germany, Russian and CIS States, and China dominate the world’s payment landscape currently, but in volume of non-bank payments the US dominates with over 50% of the world’s [...]

PTP FTW! The beginnings of something much greater…

I'll give you a hint... Square is not competing with PayPal

I had a call with an industry colleague earlier today talking the recent news on GMail Google Wallet integration, Dwolla’s funding round and the “Square Cash” announcement. At large I’m seeing two broad industry responses to these moves. The first, is to see this all as a distraction from mainstream banking and that essentially all [...]

Why Apple’s NFC snub might hurt the banks and networks more than ever?

Uber - doesn't need a swipe to offer better payments

I’ve always maintained that Near Field Communication (NFC) was attractive for both the banks acting as acquirers and issuers, and ultimately the networks themselves. Particularly in the US marketplace. Why? The only way to keep the Point-of-Sale (POS) terminal in a transaction as we shift to mobile wallet and mobile payments at merchants is for [...]

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 [...]

Mobile Payments: Leave them to their own devices

As we’ve embarked on our Movenbank project, we’ve had a lot of people express concerns about our choice to be completely cardless and go with NFC and various other P2P solutions. There’s also often raised questions over which handset platform to support, which devices are certified, the lack of real NFC standards, how to enable [...]

The new banking distribution layer

There’s a great deal of discussion and debate around what will ultimately happen to banking as a result of the massive changes in connectivity, utility, mobility and customer experience taking place right now. One thing is for sure, the world is changing. We see PayPal owning online payments, with others like Stripe hot on their [...]

Mobile Payments Palooza

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 [...]

Why Apple must incorporate NFC into their next iPhone

On 14th of March 2011, The Independent newspaper from the UK published an article suggesting that the iPhone 5 would not include Near-Field Communication (NFC) capability. A few days later on the 17 March, Forbes rebutted the Guardian’s article quoting a source that said NFC was a sure thing. Who’s right, and will Apple delay [...]