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, 2014 4:49 AM

Big picture du paiement mobile : solutions et enjeux

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Real-time direct transfer payment startup Dwolla introduces white label service

Real-time direct transfer payment startup Dwolla introduces white label service | Payments 2.0 | Scoop.it
Finextra: Payments firm Dwolla is introducing a while label service that promises to give banks and businesses an API that does what ACH does without the overheads.
Therese Torris's insight:

Great news that will hopefully shake up the payment incumbents

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European rivals Ingenico and Wirecard in race to buy Worldpay

European rivals Ingenico and Wirecard in race to buy Worldpay | Payments 2.0 | Scoop.it
EUROPEAN rivals are stepping up their interest in buying UK payments processing giant Worldpay as it prepares for a £6billion London stock market listing.
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French payments firm Ingenico submits Worldpay bid

French payments companyIngenico has submitted a bid to buy UK firm Worldpay,two sources familiar with the matter said on Friday, as thecontest heats up to take co
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Android Pay could launch today August 26th

Android Pay could launch today August 26th | Payments 2.0 | Scoop.it
Finextra: Google could launch Android Pay in the US this week, beating rival Samsung to the punch, according to notices distributed to McDonald's restaurants.
Therese Torris's insight:

Well, we'll see..

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MasterCard trials selfie payments in the Netherlands and US

MasterCard trials selfie payments in the Netherlands and US | Payments 2.0 | Scoop.it
Finextra: MasterCard is embarking on two pilots, one in the US and one in the Netherlands, which use facial recognition technology for payment verification.
Therese Torris's insight:
Selfie payment sounds so much better than biometrics or facial recognition payment, it should be much more easily accepted if not embraced by consumers
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Payment startup Stripe raises Series D, amount undisclosed but >$100M at >$5B valuation

Payment startup Stripe raises Series D, amount undisclosed but >$100M at >$5B valuation | Payments 2.0 | Scoop.it
Digital payments company Stripe has just landed another swathe of significant financial backers, with Visa among the group of new investors.
Therese Torris's insight:

Serious contender

Brings total raised to >200M https://www.crunchbase.com/organization/stripe

http://stripe.com/

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Mobile Money Transfer & Remittances [Research Report]

Mobile Money Transfer & Remittances [Research Report] | Payments 2.0 | Scoop.it

Juniper Research :"This groundbreaking research evaluates the criteria for mobile money incubators & the evolution of mobile money services. An authoritative analysis suite..."

Includes Market forecasts for mobile money transfer users, usage and revenue opportunities split by 8 key regions, by 15 national markets and by 8 money transfer types. 

Canada, Denmark, Germany, Kenya, Mexico, Nigeria, Norway, Philippines, Portugal, Saudi Arabia, Spain, Sweden, Tanzania, UK, USA
Therese Torris's insight:

Quite expensive report @£3970 including 30 min analyst time. But it's a big market with a lot at stake for existing players

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PayPal value hits $50 billion on market debut

PayPal value hits $50 billion on market debut | Payments 2.0 | Scoop.it
Finextra: Shares in PayPal rose around five per cent on its first morning of trading back on the Nasdaq following its separation from eBay, valuing the firm at around $50 billion, considerably more than its former parent.
Therese Torris's insight:

PayPal and EBay trade separately : PayPal Worth 50% more than eBay http://seekingalpha.com/news/2638475-ebay-paypal-start-trading-post-split-paypal-worth-nearly-50b

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Apple Pay has launched in the UK and everyone is angry at their banks again

Apple Pay has launched in the UK and everyone is angry at their banks again | Payments 2.0 | Scoop.it
Apple Pay launched in the UK Tuesday, but only a few banks were working with the payment service, and their customers were pissed.
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What is HCE?

What is HCE? | Payments 2.0 | Scoop.it
Host Card Emulation (HCE) replicates physical, contactless smart cards using software. Learn about its role in the future of mobile payments.
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PayPal acquires money transfer firm Xoom for $890 million

PayPal acquires money transfer firm Xoom for $890 million | Payments 2.0 | Scoop.it
The online payments service is buying an emerging player in international remittances.
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With Android Pay, Google gets mobile payments right

With Android Pay, Google gets mobile payments right | Payments 2.0 | Scoop.it
Even though Google started the whole mobile payment thing years ago with Google Wallet, it never really took off with the masses. Google's newly announce
Therese Torris's insight:

I realize that a scoop on Android Pay was cruelly missing from this thread

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26 US Payments Companies That Raised Money in 2015 - Let's Talk Payments

26 US Payments Companies That Raised Money in 2015 - Let's Talk Payments | Payments 2.0 | Scoop.it
The article talks about 26 US Payments Companies That Raised Money in 2015
Therese Torris's insight:

Payment startups are still hot in spite of the lack of success of leading fundraisers like Square

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UK's £20 banknote to go plastic

UK's £20 banknote to go plastic | Payments 2.0 | Scoop.it
Finextra: The UK's next £20 note will be printed on polymer in a move to make the paper currency more secure and durable.
Therese Torris's insight:

The £20 note is Britain's most common tender, with around 1.9 billion in circulation at the end of February, compared with 737 million £10 notes, according to Bank data Photo: EPA/ANDY RAINsource :

http://www.telegraph.co.uk/finance/bank-of-england/11838825/Britain-banknote-20-plastic-polymer-bank-of-england.html

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Wirecard bids for Worldpay

Finextra: German payments giant Wirecard has made a £6 billion bid for British rival Worldpay, according to Bloomberg.
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EU Mobile payments startup iZettle Raises $67M In Series D

EU Mobile payments startup iZettle Raises $67M In Series D | Payments 2.0 | Scoop.it
European mobile payments player, iZettle, is expanding into what amounts to small business loans -- announcing a capital advance product, called iZettle..
Therese Torris's insight:
Bringing total raised to $181M iZettle offers among others an EMV compliant mobile card reader
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Earthport opens gateway to distributed ledgers with Ripple

Earthport opens gateway to distributed ledgers with Ripple | Payments 2.0 | Scoop.it
Finextra: UK-based payments network Earthport has opened a distributed ledger gateway for bank clients to process real-time cross border payments via the Ripple protocol.
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Yodlee sells itself to Envestnet for $660m - IBS Intelligence

Yodlee sells itself to Envestnet for $660m - IBS Intelligence | Payments 2.0 | Scoop.it
Yodlee, a data aggregator and technology firm, has agreed to sell itself to financial services provider Envestnet for the sum of $660 million.
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US Mobile payment firm Square reportedly files for IPO

US Mobile payment firm Square reportedly files for IPO | Payments 2.0 | Scoop.it
Finextra: Mobile payments startup Square has filed confidentially for an initial public offering, according to Bloomberg sources.
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[April 2015] Brock Pierce Elected Bitcoin Foundation Board Chairman

[April 2015] Brock Pierce Elected Bitcoin Foundation Board Chairman | Payments 2.0 | Scoop.it
Venture capitalist Brock Pierce has been elected chairman of the board of directors at the Bitcoin Foundation.
Therese Torris's insight:

Not news but I had missed it. Confirms the suspicion that Bitcoin is all PR

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Transport for London warns Apple Pay users of fines for flat batteries

Transport for London warns Apple Pay users of fines for flat batteries | Payments 2.0 | Scoop.it
Finextra: Transport for London is warning Apple Pay users that they could end up paying over the odds for tube journeys if their iPhone batteries run flat.
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A funny twist on mobile payments

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Amid the Greek Crisis, Bitcoin Reminds Everyone It’s Not Perfect

Amid the Greek Crisis, Bitcoin Reminds Everyone It’s Not Perfect | Payments 2.0 | Scoop.it
Transactions are taking five times longer to authenticate due to a software upgrade problem
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Barclays joins local UK mobile payment scheme Zapp as Apple Pay looms

Barclays joins local UK mobile payment scheme Zapp as Apple Pay looms | Payments 2.0 | Scoop.it
Finextra: With the UK launch of Apple Pay imminent, Barclays has joined the ranks of financial institutions and retailers supporting the home-baked 'Pay by Bank App' from Zapp.
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How We Built A Touchless Payments Platform (Before Google Did)

How We Built A Touchless Payments Platform (Before Google Did) | Payments 2.0 | Scoop.it
There’s been a lot of chatter about Google Hands-Free Payments. Learn how we built a touchless payments platform, before Google did.
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Ingenico teams up with Google to provide "Export Accelerator", a cross-border e-commerce solution

Tapping into the potential of cross-border e-commerce, Ingenico Payment Services and Google will launch a collaboration with an innovative pilot solution in Belgium as a first step. Both companies will bundle their expertise to offer a unique combination of knowledge on payment and consumer behavior, giving merchants the answers and tools they need to make decisions on internationalization.

Therese Torris's insight:

It's a mouthful and it's difficult to tell exactly what they'll be offering

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