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) or Bluetooth to quickly pay small amounts in "tap and go" situations 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, Starbuck'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 card 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, sometimes 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 on mobile devices. 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 now wants to be used in physical retail stores and service companies through it mobile solution PayPal Here. 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 switch away 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(er) 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 12:47 PM
Great payment 2.0 overview
Candice Delorme's curator insight, June 29, 1:49 AM

Big picture du paiement mobile : solutions et enjeux

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Square scores investment to extend cash advance service

Square is ramping up its small business financing programme after securing investment from Victory Park Capital.
Therese Torris's insight:
The core payment proposition is not working
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UK Barclaycard takes bPay wristbands beyond payments

UK Barclaycard takes bPay wristbands beyond payments | Payments 2.0 | Scoop.it
Barclaycard is bidding to increase the reach of its bPay contactless wristbands beyond payments by offering businesses customer behavioural data gleaned from the wearable devices.
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Alibaba strengthens Alipay ties ahead of IPO

Alibaba strengthens Alipay ties ahead of IPO | Payments 2.0 | Scoop.it
Finextra: Chinese e-commerce giant Alibaba has sold its SME loan business to the parent of Alipay in a move designed to increase the profits made on any future sale of the payments unit.
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Thomson Reuters adds bitcoin pricing to Eikon

Thomson Reuters adds bitcoin pricing to Eikon | Payments 2.0 | Scoop.it
Thomson Reuters has followed market data rival Bloomberg by adding bitcoin prices to its Eikon data service.
Therese Torris's insight:

Direct link to Eikon news and data services

http://financial.thomsonreuters.com/en/products/tools-applications/trading-investment-tools/eikon-trading-software.html

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Japan's Rakuten launches money Transfer by Facebook

Japan's Rakuten launches money Transfer by Facebook | Payments 2.0 | Scoop.it
Japanese e-commerce giant Rakuten has launched a money transfer service for friends using Facebook.
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Koji Tachi's curator insight, August 7, 5:38 PM

楽天メルマネのFacebook版。素晴らしい。
海外送金はできないでしょう。

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Stellar, the new open-source solution to international currency exchange

Stellar, the new open-source solution to international currency exchange | Payments 2.0 | Scoop.it
Sending money internationally usually involves an expensive wire transfer at a brick and mortar location. “Our lives have become global but the financial system hasn’t caught up,” says Stellar Executive Director, Joyce... Keep reading →
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Koji Tachi's curator insight, August 2, 5:09 PM

ビットコインとは異なる仮想通貨Stellar。
Yコンビネーターから生まれた決済ベンチャーStripeのメンバーが中心となったNPOで開発、オープンソースとして運営されております。(備忘)

https://www.stellar.org/blog/introducing-stellar/
https://stripe.com/ ;

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At last, SEPA is here

At last, SEPA is here | Payments 2.0 | Scoop.it

Finextra : After a 15 year slog, the Single euro payments area (Sepa) hits a major milestone today with the full implementation for credit transfers and direct debits in the euro area.

Therese Torris's insight:

It's late. It may not be perfect, but it is there and it certainly makes EU crossborder transactions much cheaper. It's amazing how little the benefits of SEPA are celebrated. The European market does not market itself well. Only constraints are perceived and talked about.

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The Dutch can now use PayPal through Rabobank's MyOrder to pay for food & drinks at 1500 locations

The Dutch can now use PayPal through Rabobank's MyOrder to pay for food & drinks at 1500 locations | Payments 2.0 | Scoop.it
Shoppers in the Netherlands can now use their PayPal accounts to order ahead and pay for goods and services at 1500 high street locations through a partnership with Rabobank-backed MyOrder
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Zuckerberg Confirms: A Mobile Payments System Will Come To Facebook Messenger

Zuckerberg Confirms: A Mobile Payments System Will Come To Facebook Messenger | Payments 2.0 | Scoop.it
Business Insider : Facebook Messenger. Facebook CEO Mark Zuckerberg let slip a huge piece of news on his earnings call yesterday in terms of the way Facebook will develop e-commerce (Mobile payments coming to #Facebook Messenger, #Zuckerberg says
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PayPal brings small biz working capital lending to the UK

PayPal brings small biz working capital lending to the UK | Payments 2.0 | Scoop.it
PayPal is bringing its working capital programme for small business customers to the UK, offering firms cash advances against future sales.
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Ex-Google Wallet boss Bedier becomes PayRange director

Ex-Google Wallet boss Bedier becomes PayRange director | Payments 2.0 | Scoop.it
Former Google Wallet chief Osama Bedier has turned up as a director at PayRange, a startup that builds dongles that can be attached to vending machines to enable them to accept mobile payments.
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Blockchain Releases New Android bitcoin Wallet App

Blockchain Releases New Android bitcoin Wallet App | Payments 2.0 | Scoop.it
TechCrunch : Popular bitcoin wallet provider Blockchain.info is releasing a major new version of its Android app, allowing you to store, receive and send bitcoins directly..
Therese Torris's insight:
Hard to tell what's so new and major
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PayPal Introduces One-Touch Mobile Payments, Thanks to Braintree and Venmo

PayPal Introduces One-Touch Mobile Payments, Thanks to Braintree and Venmo | Payments 2.0 | Scoop.it
Re/code PayPal Introduces One-Touch Mobile Payments, Thanks to Braintree and Venmo Re/code When PayPal's parent company eBay agreed to buy payments startup Braintree last year, the companies boasted of the mobile-payments innovation to come.
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Who's Got Your Back On Bitcoin Deals?

Who's Got Your Back On Bitcoin Deals? | Payments 2.0 | Scoop.it
You know there are problems out there when a government watchdog agency says it's "accepting complaints" on digital currencies. That's government speak for "we think this is a huge problem and we ought to investigate it." That means digital currencies are still on the fringe of legitimacy and you need to [...]
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Has payment startup Square lost its edge?

Has payment startup Square lost its edge? | Payments 2.0 | Scoop.it
Jack Dorseys dazzling startup promised to transform the credit and finance industry. After losing $100 million, has his company lost its edge?
Therese Torris's insight:
Has it missed its window of opportunity now that every competitor from AMAZON to PAYPAL and INGENICO offers mobile POS ?
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Amazon undercuts Square and PayPal with mPOS launch

Amazon undercuts Square and PayPal with mPOS launch | Payments 2.0 | Scoop.it
Finextra : Amazon has made its widely anticipated move into the crowded mPOS market, launching its dongle and app-based contender with an aggressive pricing strategy that undercuts both Square and PayPal.
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UK bank-backed mobile P2P payment service Paym sees over one million users in first 100 days

UK bank-backed mobile P2P payment service Paym sees over one million users in first 100 days | Payments 2.0 | Scoop.it
More than one million people have registered with their bank or building society for Paym, the UK bank-backed mobile number payment service that was launched in late April.
Therese Torris's insight:

Participating banks are Bank of Scotland, Barclays, Cumberland Building Society, Danske Bank, Halifax, HSBC, Lloyds Bank, Santander and TSB and more to be announced in the fall

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German venture fund Rocket Internet raises EUR333M to fund emerging markets payments push

German venture fund Rocket Internet raises EUR333M to fund emerging markets payments push | Payments 2.0 | Scoop.it
German Internet-focused VC and incubator Rocket Internet has sold a 10% stake to Philippines-based telco PLDT for EUR333 million in a deal that will also see the two firms team on building online and mobile payments services in emerging markets.
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Payment startup Stripe backs Stellar, Ripple founder's new digital currency aimed at Int'l currency exchange

Payment startup Stripe backs Stellar, Ripple founder's new digital currency aimed at Int'l currency exchange | Payments 2.0 | Scoop.it
Mt. Gox and Ripple founder Jed McCaleb has unveiled Stellar, his latest stab at a decentralised payment network and digital currency. Payments firm Stripe has backed the project to the tune of $3 million.
Therese Torris's insight:

A last a pragmatic digital currency that aims for practical payment benefits. We need to see the costs attached to this  

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Square gears up for US EMV switch with chip card reader

Square gears up for US EMV switch with chip card reader | Payments 2.0 | Scoop.it
Square has unveiled plans to launch a chip and signature version of its mPOS dongle as it prepares for America's upcoming switch to EMV.
Therese Torris's insight:

way to burn more hundreds of millions $

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London transport to accept contactless payments from 16 September - Wired.co.uk

London transport to accept contactless payments from 16 September - Wired.co.uk | Payments 2.0 | Scoop.it
London transport to accept contactless payments from 16 September Wired.co.uk Transport for London (TfL) has announced today that its contactless payment system will go live across all London transport services on 16 September this year.
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Apple talking to Visa about mobile payments

Apple talking to Visa about mobile payments | Payments 2.0 | Scoop.it
Apple is in talks with Visa as it ponders launching a mobile wallet this autumn, according to tech site The Information.
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Amazon sneaks out mobile wallet app

Amazon sneaks out mobile wallet app | Payments 2.0 | Scoop.it
Amazon has taken another tentative step into the world of offline commerce through the launch of a mobile wallet app where customers can store loyalty and gift cards.
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Starbucks wants you to use its app for payments in other stores

Starbucks wants you to use its app for payments in other stores | Payments 2.0 | Scoop.it
Starbucks' mobile apps could soon let you buy much more than your next grande latte.
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Koji Tachi's curator insight, July 20, 5:39 PM

クローズドプリペイドの巨人がオープンループに進出か・・。 

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Visa Checkout isn't an online wallet -- it's an online credit card ...

Visa Checkout isn't an online wallet -- it's an online credit card ... | Payments 2.0 | Scoop.it
But Checkout is not a wallet, Shrauger said. It's a digital representation of your Visa card, and the company even stressed how closely it's worked to make even the branding feel like the classic Visa brand its customers are ...
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