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 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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If you can't beat them... Crédit Agricole drop own system and joins French PayLib consortium for e&m-payments service

If you can't beat them... Crédit Agricole drop own system and joins French PayLib consortium for e&m-payments service | Payments 2.0 | Scoop.it
Paylib, a PayPal-style online payment system set up last year by French banks, is extending its reach thanks to the addition of Crédit Agricole as a member and a deal with MasterCard that will let people use the service abroad.
Therese Torris's insight:

... join them

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Square markes its mobile POS system Register available worldwide

Square markes its mobile POS system Register available worldwide | Payments 2.0 | Scoop.it
Square is looking to expand beyond North America by making its Register point-of-sale software available to businesses worldwide.
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Starbucks claims a 90% share of the US mobile payments market • NFC World+

Starbucks claims a 90% share of the US mobile payments market • NFC World+ | Payments 2.0 | Scoop.it
Starbucks accounted for more than 90% of all mobile transactions in the US last year, the coffee chain's CEO Howard Schultz has revealed during a fourth quarter earnings call in which he also set out plans to continue to dominate the mobile...
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Snapchat & Square launch #Snapcash P2P payments with a weird oldfashioned ad

Snapchat & Square launch #Snapcash P2P payments with a weird oldfashioned ad | Payments 2.0 | Scoop.it
Snapchat has teamed up with Square to enable users to send each other money through the Photo sharing app.
Therese Torris's insight:

The Broadway musical style of the Snapcash video advertising looks to me like it would be targetting people in their 70's. Weird, but may be it's just me.

http://youtu.be/kBwjxBmMszQ

 

 

 

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Mobile payments : MCX vs ApplePay - Counting Friends And Foes

Mobile payments : MCX vs ApplePay - Counting Friends And Foes | Payments 2.0 | Scoop.it
by Jean-Louis Gassée It’s still too early to tell if Apple Pay will square the circle and emerge as a payment system that’
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UK mobile payments company Powa Raises $80M from Wellington to fund US expansion

UK mobile payments company Powa Raises $80M from Wellington to fund US expansion | Payments 2.0 | Scoop.it
In another large late-stage play from a public-markets investor, Wellington Management has put $80 million into Powa Technologies Group PLC., VentureWire has learned.Wellington, which last year invested $76 million in the mobile payments and e-commerce company, valued Powa around $2.7 billion in the fresh round....
Therese Torris's insight:

Powa has raised $170M so far. See also :

http://blogs.wsj.com/venturecapital/2014/11/07/powa-raises-80-million-to-launch-its-mobile-e-commerce-payments-in-u-s/

"Merchants typically use Powa as part of traditional marketing and advertising programs which enable customers to make more spontaneous purchases. Merchants prompt consumers to download Powa’s free app and input their payment information. Once they are registered, they are able to purchase items that have a “Powa Tag” by taking a picture of ads in print and online, or have an audio watermark embedded in TV and radio broadcasts. "

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US bank BBVA Compass opens backbone to Dwolla FiSync technology to enable real-time payments

US bank BBVA Compass opens backbone to Dwolla FiSync technology to enable real-time payments | Payments 2.0 | Scoop.it
BBVA Compass has opened up its technology platform to Dwolla, enabling customers to make real-time payments through the Iowa startup's payments network.
Therese Torris's insight:

Part of the BBVA group, BBVA Compass operates 688 branches in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas and ranks among the 25 largest banks in the USA.

Direct link to press release http://newsroom.bbvacompass.com/2014-10-30-BBVA-Compass-Dwolla-team-up-to-offer-real-time-payment-innovation-to-clients

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China to end UnionPay's monopoly on clearing payments for... 3.5 billion cards!

China to end UnionPay's monopoly on clearing payments for... 3.5 billion cards! | Payments 2.0 | Scoop.it
China is finally preparing to put an end to China UnionPay's monopoly on clearing bank card transactions in a move that could open up a huge market to Visa and MasterCard.
Therese Torris's insight:

Any piece of news about China Union Pay is big news

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US mobile payments coalition MCX confirms merchant contract excludes Apple Pay

US mobile payments coalition MCX confirms merchant contract excludes Apple Pay | Payments 2.0 | Scoop.it
MCX, the mobile payments joint venture set up by a coalition of some of the largest retailers in the US, has confirmed that members using the system will be contractually obliged to exclude alternative platforms provided by the likes of Apple and...
Therese Torris's insight:
Merchants seem unlikely to win the mobile payment war. In terms of mobile payments, the device owner is closer to customers that the merchant
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99 Wuxian and China UnionPay ink deal for cloud POS platform

99 Wuxian and China UnionPay ink deal for cloud POS platform | Payments 2.0 | Scoop.it
A partnership between Australian-listed m-commerce player 99 Wuxian and Chinese bankcard company China UnionPay will see the launch of a new cloud-based point-of-sale platform in 2015.
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MasterCard leads $400M investment in mobile payment startup Mozido

MasterCard leads $400M investment in mobile payment startup Mozido | Payments 2.0 | Scoop.it
US mobile payment outfit Mozido has completed the first phase of a $400 million funding round with support from MasterCard as it looks to expand its geographical footprint through a series of strategic acquisitions.
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US bank-backed ACH The Clearing House wakes up to real-time payments

US bank-backed ACH The Clearing House wakes up to real-time payments | Payments 2.0 | Scoop.it
US bank-backed ACH The Clearing House is to undertake a multi-year effort to build a new real-time processing platform, as the country finally begins to get to grips with its antiquated payment systems.
Therese Torris's insight:

Consumers are ready!

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Bitcoin still currency of choice for child porn undertakings

Bitcoin still currency of choice for child porn undertakings | Payments 2.0 | Scoop.it

Crowdfund Insider tells of paedophiles who are raising money in bitcoins to crowdfund a child porn distribution site

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If you can't beat them... Danish telcos sell m-payments venture to bank-owned rival

If you can't beat them... Danish telcos sell m-payments venture to bank-owned rival | Payments 2.0 | Scoop.it
Swipp, a mobile payments service owned by a consortium of Danish banks, has acquired Paii, a rival outfit formed by a group of telcos.
Therese Torris's insight:

... join them

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Contactless payments in UK head for mainstream - Worldpay - Finextra

Contactless payments in UK head for mainstream - Worldpay - Finextra | Payments 2.0 | Scoop.it
Contactless has shaken off its novelty tag in the UK and is surging towards the mainstream according to Worldpay, which is reporting a 150% rise in volumes over the past six months.
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Leading Virtual currencies: an infographic overview

Leading Virtual currencies: an infographic overview | Payments 2.0 | Scoop.it
An array of virtual currencies are making their presence known.
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Will Bitcoin replace SWIFT?

Chris Skinner : So I made a slightly provocative comment, as it turned out, during my keynote at PaymentsNZ. It was picked up and referenced by Richard Meadows in yesterday’s article: “[Skinner] said the coding be...

Therese Torris's insight:

Love that statement : Bitcoin is like the internet before Tim Berners-Lee gave us www dot.

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Square to release chip card reader with $29 price tag

Square to release chip card reader with $29 price tag | Payments 2.0 | Scoop.it
Square has announced plans for a new chip card reader that will retail with a $29 price tag and replace its current free-of-charge mag-strip-only dongle.
Therese Torris's insight:

At last!

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Africa's M-Pesa shows mobile finance's future

Africa's M-Pesa shows mobile finance's future | Payments 2.0 | Scoop.it

Chris Skinner : "I spent some time reviewing the latest news on M-PESA yesterday. M-PESA is now seven years old, and has transformed the African landscape. Since its launch in 2007, over 18 million of the 43 million..."

Therese Torris's insight:

article focuses on Kenya. M-Pesa has expanded into Eeastern Europe and India (with ICICI since 2013), would be interesting to analyze its success there

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Wells Fargo offers $20 to customers using Apple Pay to be top of wallet on iPhone

Wells Fargo offers $20 to customers using Apple Pay to be top of wallet on iPhone | Payments 2.0 | Scoop.it
Apple may be having trouble winning over retailers to its mobile payments platform but bank support shows no sign of waning as Wells Fargo offers $20 to customers who sign up for Apple Pay.
Therese Torris's insight:

https://www.wellsfargo.com/mobile-payments/apple-pay/

in the fight between merchants and Apple, banks have chosen their camp, will they live long enough to regret it?

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Ex-Google Wallet chief launches Poynt - contactless & EMV-compatible mobile POS terminal

Ex-Google Wallet chief launches Poynt - contactless & EMV-compatible mobile POS terminal | Payments 2.0 | Scoop.it
Former Google Wallet boss Osama Bedier is bidding to take advantage of the "once in a lifetime" opportunity presented by America's move to EMV chip cards with a new take on the point-of-sale terminal.
Therese Torris's insight:
Could be the end of Square
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CVS, Rite Aid Baffle Payments Industry With Decisions To Block NFC, Apple Pay

CVS, Rite Aid Baffle Payments Industry With Decisions To Block NFC, Apple Pay | Payments 2.0 | Scoop.it
The nation's second- and third-largest drug store chains have their own mobile payments plans.
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Tim Cook says that Apple Pay is already the leader in contactless payments

Tim Cook says that Apple Pay is already the leader in contactless payments | Payments 2.0 | Scoop.it
It's only been a week since Apple Pay made its debut, but apparently the launch has been successful thus far. Speaking at the WSJD Live event, hosted by The Wall Street Journal, Cook said that...
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NFC & other mobile payments in France - infographic overview [In French]

NFC & other mobile payments in France - infographic overview [In French] | Payments 2.0 | Scoop.it
A distance ou directement chez le commerçant, le paiement sans contact devient de plus en plus une réalité en France. Que ce soit avec une carte bancaire ou avec son téléphone mobile, les différentes solutions ne manquent pas.

Via TROUVE LIONEL
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eCommerce pureplayer Etsy moves offline with a free mobile POS for members

eCommerce pureplayer Etsy moves offline with a free mobile POS for members | Payments 2.0 | Scoop.it

Etsy is launching a free card reader than can be attached to iOS and Android devices to accept in-person card payments. The reader is magstripe, despite the US's rapid adoption of chip and PIN, and the firm charges a 2.75% fee - cheaper than the 3.5% it takes for online sales.

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