Payments 2.0
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Mobile chip card reader: SumUp Expands To 3 More Markets including France

Mobile chip card reader: SumUp Expands To 3 More Markets including France | Payments 2.0 | Scoop.it
TechCrunch: SumUp, another Square-style mobile payment dongle that launched in Europe in August backed by more than $20 million from b-to-v Partners, Shortcut Ventures, Tengelmann Ventures and Klaus Hommels, is continuing its rapid rollout by expanding into...
Therese Torris's insight:

Card reader still available for free for businesses ! I'd rush to get one if I were you

 

SumUp demo

http://www.youtube.com/watch?v=moThehyUjp4&feature=endscreen&NR=1

Sum up Web site

https://sumup.co.uk/

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Payments 2.0
Digital wallet, Mobile payments, Contactless payments, NFC payments, Mobile wallet, Mobile POS, Bill payments, Bitcoin, Virtual currency
Curated by Therese Torris
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Curating Payment 2.0 News

Curating Payment 2.0 News | Payments 2.0 | Scoop.it

Payments 2.0 is about the new digital payment solutions that aim to replace cash, facilitate online payments and enable mobile payments.

 

These solutions are very diverse because they use various technologies to (re-)invent a complex payment value chain.

 

Here are a few (overlapping) categories of payments 2.0:

- Virtual currencies: such as BitCoin, or Facebook Credits used to pay virtual goods (i.e. games) on Facebook

- Mobile payments: Any payment is called "mobile" if an account is credited or debited using a mobile phone. This covers a large variety of options. 

- Contactless payments: most talked about but not yet widespread. Contactless payment use close-range wireless technology such as NFC (near-field communication), Bluetooth or other Contac to quickly pay small amounts in "tap and go" situtations such as transporation and fast food. NFC payment solutions include Google Wallet, PayPass from MasterCard and payWave from Visa.

- Bar code or QR-code-based mobile payments such as LevelUp's trigger payment through taking a picture of a Bar-code or of a QR-code with the mobile phone.

- Other forms of (remote) mobile payments include SMS-based mobile payments like boxPAY's, quite widespread in underbanked countries. Strictly speaking, SMS payment are "contactless" but the expression is generally reserved for tap and go payments. One sometimes opposes "remote" mobile payments to "proximity" (close range, tap and go) mobile payments.

- Digital wallets: Mobile payments, and in particular contactless payments, are combined with a digital wallet such as PayPal's, Starbauck's, Google Wallet or ISIS' wallet (both in the US) which is the repository of the user account information. The wallet can also store a prepaid amount.

- Apple's PassBook is a special form of mobile wallet used to hold multiple payment and loyalty card information.

- Mobile card readers are dongles hooked on the phone via the sound jack, the USB port or the SD slot, such as those provided for free by Square, Pay Anywhere, iZettle, PayPal Here, Groupon and many others.

- Mobile POS: Mobile Point-of-sale systems also called mobile checkout/cash registers enable merchants to track and manage payments. Examples are Square Register, Ingenico, GoPago, Verifone's PayWare...

- Device versus cloud-based account identification: Identification can be done through access to a physical storage device such as the SIM card (ex. ISIS wallet) or an SD card (then called the secure element), or via an application 'in the cloud' (ex. PayPal).

- Local or in-store mobile payments: The first digital wallet was PayPal's online payment wallet. PayPal is now going mobile with PayPal Here, contactless and in-store. In-store payment is also sometimes called "local".

- Mobile payments can also be used to shop online in a non mobile setting, for example to avoid inputing a credit card information online (see Buyster, Card.io),

- Carrier billing: Carrier billing is payment (mobile or online) charged to the user's mobile operator phone bill (see Bango, Boku, MoPay). Facebook and PayPal offer carrier billing, too. It's mostly used for gaming. Good luck to parents!

- Direct transfer payments: mobile payments such as Dwolla's directly debit the bank account of the payer, bypassing credit card networks. Dwolla is said to be mobile because it uses a mobile phone application, but it can also be used on the Web for online payments.

- Peer-to-peer payments: enable anyone to accept card payments. For exemple you don't have to be a merchant to buy a Square reader (You get it free if you're a merchant).

- Bill payments: are mobile and/or Web solutions that enable the payment of invoices.

- Remote check deposit: enables users to credit their bank account or ther digital wallet by taking a picture of a check.

 

The main challenges of payments 2.0 are more business than technical. They are:

- to win consumer and merchant acceptance: it's not easy to provide a satisfying user experience that motivates consumers and merchants to change from their existing habits. For example, the security of new payment systems is more easily called into question than the (however very flawed) security of existing ones. 

- to create a powerful distribution and servicing network: somebody has to push new payment solutions into the hands of both merchants and consumers and support them.

- to find an economic equation that satisfies enough critical players in the payment ecosystem.

 

The latter is in my view the main hurdle for the deployment of payment 2.0. Payments can be a very profitable business. To caricature the issue: Banks, credit card companies, technology providers, new entrants ... all fight (each other) for a bigger slice of the profits.

 

Merchants and consumers also want a fair deal.  In that respect, 2011 was a turning point because companies such as Square and Dwolla introduced payment solutions that have zero set-up costs and a low commission (interchange fee) for merchants. 

 

I hope this helps readers navigate this topic. Thank you for pointing out errors in comments.

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Pascale Couderc's comment, December 23, 2012 3:47 PM
Great payment 2.0 overview
Candice Delorme's curator insight, June 29, 4:49 AM

Big picture du paiement mobile : solutions et enjeux

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Former PayPal founder Levchin launches Split Pay a cheaper online consumer credit available across multiple merchants

Former PayPal founder Levchin launches Split Pay a cheaper online consumer credit available across multiple merchants | Payments 2.0 | Scoop.it
Former Paypal co-founder Max Levchin is looking to disrupt the payments market once again with the launch of a new service that lets online merchants advance credit to consumers at the point of sale.
Therese Torris's insight:

Could Levchin free US households from credit card debt?

Product name is Split Pay

Company name Affirm

Raised $45 million

 

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Crédit Mutuel 4rth leading retail bank to join French mobile payment consortium Paylib

Crédit Mutuel 4rth leading retail bank to join French mobile payment consortium Paylib | Payments 2.0 | Scoop.it
La banque proposera Paylib à ses clients en 2015. Un renfort de poids pour le système lancé en 2013 par Société Générale, Banque Postale et BNP Paribas.
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European Banking Authority tells banks to avoid bitcoin

European Banking Authority tells banks to avoid bitcoin | Payments 2.0 | Scoop.it
Finextra : Europe's financial institutions should steer clear of virtual currencies such as bitcoin until a regulatory regime is in place, the European Banking Authority (EBA) has warned.
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CaixaBank to distribute 150,000 contactless payment wristbands

CaixaBank to distribute 150,000 contactless payment wristbands | Payments 2.0 | Scoop.it
CaixaBank is to distribute 150,000 contactless wristbands to customers over the summer, staking a claim to being the largest wearable payments programme in Europe.
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PayPal releases first Android Wear app for smartwatches

PayPal releases first Android Wear app for smartwatches | Payments 2.0 | Scoop.it
PayPal has released an app for the new Android Wear line of smartwatches.
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French bank card association backs biometric payments - NFC Business Cards

French bank card association backs biometric payments - NFC Business Cards | Payments 2.0 | Scoop.it
Groupement des Cartes Bancaires CB, the French charge plate association that pioneered the employment of chip cards for payments within the Eighties, expects to change member banks to issue customers with keyfobs supporting fingerprint payments by...
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Finextra: LevelUp adds iBeacon support to mobile payments platform

Finextra: LevelUp adds iBeacon support to mobile payments platform | Payments 2.0 | Scoop.it
QR code-based mobile payments firm LevelUp is integrating support for Apple's iBeacon after testing showed that pushing instore offers through the technology significantly increased sales.
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Expedia accepts bitcoin for hotel bookings

Expedia accepts bitcoin for hotel bookings | Payments 2.0 | Scoop.it
Expedia has struck a deal with Coinbase which will see the online travel agency accept bitcoin for hotel bookings.
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Good PR, I suppose

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Richard Branson & Peter Thiel join $25m TransferWise funding round

Richard Branson & Peter Thiel join $25m TransferWise funding round | Payments 2.0 | Scoop.it

High profile investors Richard Branson and Peter Thiel have joined a $25 million series b funding round for London-based international money transfer platform TransferWise.

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Barclaycard unveils contactless payment wristband

Barclaycard unveils contactless payment wristband | Payments 2.0 | Scoop.it

Finextra : Barclaycard is preparing to jump on the wearable tech bandwagon through the launch of a contactless payments wristband.

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Finextra: Apple circles payments with TouchID

Finextra: Apple circles payments with TouchID | Payments 2.0 | Scoop.it
Apple has announced a new Touch ID API which will allow app developers to use fingerprint authentication for mobile payments and other applications
Therese Torris's insight:

Apparently Apple believes in fingerprints, I'm curious to see what comes out of it because I have yet to hear of a mass market fingerprint program that works

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Luis Garcia Orza's curator insight, June 12, 5:46 AM

API para  utilizar el lector de huella digital en los Iphones

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Square moves into small biz lending

Square moves into small biz lending | Payments 2.0 | Scoop.it
Payments firm Square is moving into the lending business, offering its merchant customers cash advances.
Therese Torris's insight:
Desperation move?
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New age security - Visa looking to exchange token for data profiling and predictive modelling

New age security - Visa looking to exchange token for data profiling and predictive modelling | Payments 2.0 | Scoop.it
Executives at Visa Europe are pondering an overhaul of card security standards as new technologies and consumer preferences for frictionless shopping create demands for a more flexible approach to protecting transactions.
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Bitcoin Startup Xapo Valued North of $100 Million

Bitcoin Startup Xapo Valued North of $100 Million | Payments 2.0 | Scoop.it
Some of the biggest names in venture capital are getting behind a maker of underground bitcoin vaults, the latest bet to bolster the digital currency.
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Groupon launches mobile payments iPad app to challenge Square

Groupon launches mobile payments iPad app to challenge Square | Payments 2.0 | Scoop.it
Groupon has launched a new iPad app called Groupon POS (perhaps not the best name) in an attempt to enter the iPad mobile payments arena and take on (RT @jhojnar: Groupon launches mobile payments iPad app to challenge Square
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Quite pathetic
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London buses go entirely cashless

London buses go entirely cashless | Payments 2.0 | Scoop.it
London buses have stopped accepting cash fares in a move that Transport for London (TfL) says will save £24 million a year.
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BBVA introduces HCE-based mobile NFC payments

BBVA introduces HCE-based mobile NFC payments | Payments 2.0 | Scoop.it
Finextra: Spain's BBVA has become the first major global bank to commercially launch a host card emulation-based mobile contactless payments service.
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US Retail POS systems : The Mobile Payment and Prepaid Card efects [Research Report]

US Retail POS systems : The Mobile Payment and Prepaid Card efects [Research Report] | Payments 2.0 | Scoop.it

The point of sale (POS) retail market is evolving like never before, as traditional paper-based payments (cash and check) have increasingly lost favor with consumers and merchants and are quickly being replaced by plastic cards and alternative payments. While the growth of e-commerce has devastated many brick-and-mortar merchants, others have thrived and POS shopping still represents the bulk of domestic retail spend (92%). This report evaluates the actual and forecast changes in the retail POS market, tracking payments mix data from 2012 through the forecast year of 2019 and identifying key drivers of market change.

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$2000 report

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Apple share of mobile POS dropped 15.5 percent in Q1

Apple share of mobile POS dropped 15.5 percent in Q1 | Payments 2.0 | Scoop.it
While the overall market for mobile POS is growing, Apple's share dropped to 56 percent in Q1 2014, down 15.5 percent from its Q4 2013 share of 66 percent.
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Password manager and digital wallet firm Dashlane announces a $22 million Series-B funding

Password manager and digital wallet firm Dashlane announces a $22 million Series-B funding | Payments 2.0 | Scoop.it

Dashlane is your online personal assistant. It empowers you to buy online and fill in forms in a flash, and aggregates your shopping, IDs, passwords, and other important information in a secure place -- accessible from synced devices -- that no one else can access.

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Powa buys MPayMe in $75m deal

Powa buys MPayMe in $75m deal | Payments 2.0 | Scoop.it
Digital commerce outfit Powa Technologies has acquired Hong Kong-based MPayMe in an all share deal it says is worth $75 million.
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PayPal president David Marcus quits for Facebook

PayPal president David Marcus quits for Facebook | Payments 2.0 | Scoop.it
PayPal president David Marcus has quit the eBay unit to run the mobile messaging business at Facebook.
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Barclaycard unveils contactless payment wristband

Barclaycard unveils contactless payment wristband | Payments 2.0 | Scoop.it

Finextra : Barclaycard is preparing to jump on the wearable tech bandwagon through the launch of a contactless payments wristband.

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Google Now will soon remind you to pay your bills

Google Now will soon remind you to pay your bills | Payments 2.0 | Scoop.it
Google has just rolled out a bill reminder feature on Google Now for Android. The feature is integrated with Gmail, and generates a card that shows information such as the the amount you owe and the payment due date.
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The potential of immediate payments [Video]

Simon Newstead, MD, head of market engagement at RBS, discusses how immediate payments are still an emerging trend, what needs to be factored in when developing an immediate payments technology and the types of innovation that can be built on top of immediate payments

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