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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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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Starbucks Has Bigger Plans in Mobile Payments Than Most People Realize - Re/code

Starbucks Has Bigger Plans in Mobile Payments Than Most People Realize - Re/code | Payments 2.0 | Scoop.it
Re/code Starbucks Has Bigger Plans in Mobile Payments Than Most People Realize Re/code A decade after the idea was first sketched on the proverbial drawing broad, Starbucks is poised to finally let its customers order their coffees from their phones.
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NY regulator sets out BitLicense plans

NY regulator sets out BitLicense plans | Payments 2.0 | Scoop.it
New York state's financial services regulator has set out the details of its planned 'Bitlicense' framework for firms dealing with virtual currencies.
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Visa rebrands its V.me digital wallet - Global Transaction Banking Directory

Visa rebrands its V.me digital wallet - Global Transaction Banking Directory | Payments 2.0 | Scoop.it
Visa has reworked and rebranded its V.me digital wallet as it has another crack at carving out more of the online purchasing market.
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Payments integrator Zooz Raises $12 Million

Payments integrator Zooz Raises $12 Million | Payments 2.0 | Scoop.it

"Zooz enables enterprise-class retailers to optimize their payment process through a broad network of acquirers and payment methods. Zooz helps companies access these acquirers and methods, as well as making it easy for new acquirers and methods to be added and integrated into the network. The company's Smart Routing solution allows retailers to achieve and provide a consistent, cross-channel payment experience for both sides of the transaction..."

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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
Therese Torris's insight:
Quite pathetic
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Koji Tachi's curator insight, July 19, 5:43 PM

単純なモバイル決済端末からどんどん進化しつつある

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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..
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Hard to tell what's so new and major
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It Looks Like Snapchat Is Planning To Some Sort Of Mobile Payments Project

It Looks Like Snapchat Is Planning To Some Sort Of Mobile Payments Project | Payments 2.0 | Scoop.it
Snapchat might be planning to monetize through in-app payments long before it accepts traditional ads.
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Visa Europe stands by digital wallet V.me by Visa

Visa Europe today confirmed that its digital wallet service, V.me by Visa, will expand to Germany, Ireland, Norway, Sweden and Italy by the end of the year.
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Funding running dry for payments startups

Funding running dry for payments startups | Payments 2.0 | Scoop.it
Venture capital interest in payment industry startups appears to be on the wane as investors wise up to the difficulties of achieving scale in a complex, competitive market.
Therese Torris's insight:

Payments is an ecosystem game,

many play, few manage to add value so that an ecosystem rallies around them or at least accept them

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Visa launches Checkout to replace digital wallet

#Visa is ditching the digital wallet and launching Checkout. #retail http://t.co/6u94U9rqXQ
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France to boost bitcoin transparency by lifting anonymity of bitcoin users

France to boost bitcoin transparency by lifting anonymity of bitcoin users | Payments 2.0 | Scoop.it
The French government has moved to limit the anonymity of bitcoin users through rules that require 'distributors' of the virtual currency to verify the identity of account holders.
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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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