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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Monitise shares plunge as Visa ponders stake sell-off

Monitise shares plunge as Visa ponders stake sell-off | Payments 2.0 | Scoop.it
Shares in Monitise plummeted more than 25% in morning trading on news that Visa is "considering its options" on its 5.5% stake in the mobile money firm.
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iPhone 6 NFC Limited to Apple Pay (for Now)

iPhone 6 NFC Limited to Apple Pay (for Now) | Payments 2.0 | Scoop.it
Tech Insider iPhone 6 NFC Limited to Apple Pay (for Now) Tom's Guide Launching in October, Apple Pay will allow iPhone owners to store their payment cards virtually and buy goods by simply tapping their device to a NFC-compatible point-of-sale...
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European card issuers the losers as global payments revenues show upward trend

European card issuers the losers as global payments revenues show upward trend | Payments 2.0 | Scoop.it
Finextra reports on BCG study : European card issuers stand to lose $8 billion per year from a revenue pool of $60 billion beginning in 2015, as stiffer regulation and caps on interchange fees take their toll, according to a study by the Boston Consulting Group.
Therese Torris's insight:
If payment revenues show upward trend, consumers stand to lose, too
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Square Raises yet another $100 Million

Square Raises yet another $100 Million | Payments 2.0 | Scoop.it
The funding comes after a difficult year for Square, a five-year-old company that has appeared to shift its strategy.
Therese Torris's insight:

Is Square the next Groupon? Maybe not since its IPO has been postponed. But Square has raised more than half a billion dollars to date. The hype is over and gives way to the reality of how tough it is to squeeze money from small merchants in an ecosystem that already bleeds them dry.

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Why Most Banks Need Not Worry About Apple Pay Yet

Why Most Banks Need Not Worry About Apple Pay Yet | Payments 2.0 | Scoop.it
I'll admit to being caught up in the hype. The 48 hours after Tim Cook revealed Apple's long-rumored foray into payments were some of the most exciting times in
Therese Torris's insight:

Well, they may not worry but they should certainly propose a smart and useful mobile payment solution to consumers !

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French BPCE bank preps Twitter-based P2P payments service

French BPCE bank preps Twitter-based P2P payments service | Payments 2.0 | Scoop.it
French banking group Banque Populaire Caisse d'Epargne (BPCE) has teamed up with Twitter to let customers tweet money to each other.
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Why Apple Will Succeed in the Mobile-Payments World Where Google Failed

Why Apple Will Succeed in the Mobile-Payments World Where Google Failed | Payments 2.0 | Scoop.it

Slate : Apple Pay, the new mobile payment system that Apple unveiled this week, looks pretty secure. It looks a lot more secure than the iCloud. As my colleague Lily Hay Newman explained, the combination of biometric authentication (by the Touch ID fingerprint system), near-field communication, and GPS location data makes for...

Therese Torris's insight:

Nicely put : Google... took a more ham-fisted and less successful approach with its Google Wallet mobile payments system...Apple... may gain a foothold. It has advantages in its network and resources, but it cannot yet leverage them fully, lest it alienate the credit giants. But ... Apple can gradually expand...

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Apple to take a 0.15% cut of every Apple Pay's transactions

Apple to take a 0.15% cut of every Apple Pay's transactions | Payments 2.0 | Scoop.it
When Steve Jobs unveiled the iPod in 2001, he saw an opportunity to reshape an industry. The device sold hundreds of millions and its pairing with iTunes became so successful that it unbundled the album and killed the CD, destroying music industry
Therese Torris's insight:

Subtitle of the FT.com's article : "Apple Pay is poised to do for payment companies what the iPod did for the music industry"

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The Future of Bitcoin Gambling

The Future of Bitcoin Gambling | Payments 2.0 | Scoop.it
Smart Live Gaming interviews some experts and examines the impact of the Bitcoin-based ‘cryptocurrency’ on the online gambling market within the UK.
Therese Torris's insight:

Typical Bitcoin apology with usual flawed arguments in favor of using Bitcoin in gambling transactions : cheap (forgetting you have to pay for the wallet), secure (forgetting irreversible transactions can be dangerous) etc.

Bitcoin IS not good for gambling transactions, Bitcoin IS gambling

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PayPal and Coinbase partnering for Bitcoin payments - weak try to preempt Apple Pay announcement

PayPal and Coinbase partnering for Bitcoin payments - weak try to preempt Apple Pay announcement | Payments 2.0 | Scoop.it
Remember that One Touch mobile payment solution PayPal announced last month? It's ready -- Braintree CEO Bill Ready announced at Disrupt that customers
Therese Torris's insight:

Bitcoin announcements are a tired PR strategy... Nobody cares but a few journalists. PayPal should have thought of something more truly innovative, frankly.

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PayPal's Braintree Gambles on Bitcoin and One-Touch Payments

PayPal's Braintree Gambles on Bitcoin and One-Touch Payments | Payments 2.0 | Scoop.it
Braintree, the payments company acquired by eBay, will soon be adding support for Bitcoin and one-touch payments to its platform.
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US operator-led mobile payments JV Isis becomes Softcard to avoid Islamic State association

US operator-led mobile payments JV Isis becomes Softcard to avoid Islamic State association | Payments 2.0 | Scoop.it
Mobile money joint venture Isis has changed its name to Softcard in an effort to distance itself from the militant jihadist group operating in Iraq and Syria.
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Passbook + Apple Pay: 5 things you need to know about Apple's new mobile wallet [Free Webinar]

Passbook + Apple Pay: 5 things you need to know about Apple's new mobile wallet [Free Webinar] | Payments 2.0 | Scoop.it

Vibes : Join the Webinar, Tuesday, Sept. 23, at 1 p.m. CDT Apple’s announcement on September 9 posed interesting questions for marketers everywhere: What does this convergence of payment and nonpayment features mean for my brand? What is the marketing opportunity with Passbook? How quickly can I get started? Who can help? Vibes was first to offer tools toRead More

Therese Torris's insight:

I don't know Vibes but, judging from pas White Papers, they seem to know their stuff

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Contactless payments and London travel: your questions answeredp

Contactless payments and London travel: your questions answeredp | Payments 2.0 | Scoop.it
London's transport chiefs say new technology for capital's tube, buses and rail services is cheaper and more convenient (Contactless payments and London travel: your questions answered http://t.co/21CkjRvRDS)...
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Gates Foundation launches challenge to boost mobile money acceptance

Gates Foundation launches challenge to boost mobile money acceptance | Payments 2.0 | Scoop.it
The Bill & Melinda Gates Foundation is aiming to accelerate the adoption of digital payments in the developing world by offering grants to firms that make it easy for small merchants to accept mobile money.
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Subway USA to take Softcard (formely ISIS) payment and loyalty programme nationwide

Subway USA to take Softcard (formely ISIS) payment and loyalty programme nationwide | Payments 2.0 | Scoop.it
The US telco-backed Softcard consortium has received a welcome boost with news that the giant fast food chain Subway is to deploy its Card Rewards Program as part of a national roll-out of the SmartTap payment app.
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Monitise revenues rise but losses grow

Monitise revenues rise but losses grow | Payments 2.0 | Scoop.it
Monitise has posted a 31% rise in full year revenue but the mobile money firm's Ebitda losses widened as it took a short term hit on a decision to overhaul its business model.
Therese Torris's insight:

According to Crunchbase Monitise has raised over $250 million in post IPO equity

http://www.crunchbase.com/organization/monitise

 

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Amazon Backs Away from WebPay P2P Payments

Amazon Backs Away from WebPay P2P Payments | Payments 2.0 | Scoop.it
Amazon is terminating its WebPay service that let people send, receive, and request money from other users. The P2P payment service will shut down on October 13th.
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Launch Of Apple's iPhone Payments Fails To Dazzle China's More Advanced Mobile Market

Launch Of Apple's iPhone Payments Fails To Dazzle China's More Advanced Mobile Market | Payments 2.0 | Scoop.it

Chinese companies competing with Apple don't be afraid of Apple's newest launches. They're not breakthroughs compared to what's happening in China's mobile market, Silicon Dragon VCs agree....

None of the companies competing with Apple in China need to be afraid.” He pointed out that Baidu, Alibaba and Tencent already have payment features for mobile.

Therese Torris's insight:

Dazzled... may be not, but challenged, nevertheless

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Apps make dine and dash acceptable

Apps make dine and dash acceptable | Payments 2.0 | Scoop.it
Tab Payments app frees restaurant patrons from having to wait for the bill at the end of their meals (Tab Payments app frees restaurant patrons from having to wait for the bill at the end of...
Therese Torris's insight:

The problem is that there are too many competing apps for this.
Nothing new but I love the "dine and dash" title

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Coinbase Launches Bitcoin Buying and Selling in 13 European Countries

Coinbase Launches Bitcoin Buying and Selling in 13 European Countries | Payments 2.0 | Scoop.it
Coinbase has officially expanded beyond the US market, bringing its brokerage services to 13 European countries.
Therese Torris's insight:

Like much of the Internet, Bitcoin is showing every sign of becoming a very concentrated market in the hands of a few

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Apple Pay explodes onto the scene

Apple Pay explodes onto the scene | Payments 2.0 | Scoop.it

Will Hernandez @Mobilepaytoday Apple intros mobile wallet capabilities that combine NFC, Passbook and Touch ID. Company has support from banks, major card issuers and retailers.

Therese Torris's insight:

Everything you need to know about Apple Pay

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Suspense over : iPhone 6' Apple Pay is out - it's Touch ID and contactless

Suspense over : iPhone 6' Apple Pay is out - it's Touch ID and contactless | Payments 2.0 | Scoop.it
Apple Pay lets you use iPhone 6 to pay in stores and within apps in an easy, secure, and private way.
Therese Torris's insight:

THAT will definitely accelrate all contactless and mobile payments !

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De La Rue named preferred bidder for BofE plastic banknote contract

De La Rue named preferred bidder for BofE plastic banknote contract | Payments 2.0 | Scoop.it
As it prepares to move to plastic banknotes, the Bank of England has named De La Rue as the preferred bidder for a 10-year printing contract.
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US retail consortium unveils MCX's CurrentC m-commerce network to be launched next year

US retail consortium unveils MCX's CurrentC m-commerce network to be launched next year | Payments 2.0 | Scoop.it
Merchant Customer Exchange (MCX), the mobile commerce joint venture put together by some of America's biggest retailers, has finally unveiled its payment network, promising a commercial launch next year.
Therese Torris's insight:

Consortia-led projects like MCX"s and ISIS (not renamed Softcard)take an awful time to get off the ground

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