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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Half of US POS terminals to accept chip cards by end of 2015

Half of US POS terminals to accept chip cards by end of 2015 | Payments 2.0 | Scoop.it
Nearly half of US merchant terminals will accept EMV chip card payments by the end of next year, according to a trade body set up to push the migration from magstripe plastic.
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Apple Pay available on iPhone 6, iPads and Apple Watch - launch press release - Must Read

Apple Pay available on iPhone 6, iPads and Apple Watch - launch press release - Must Read | Payments 2.0 | Scoop.it
Apple Pay in 20Oct.: hold iPhone near the contactless reader while keeping a finger on Touch ID; supports credit an…http://t.co/Q7S9aneOho
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China eCommerce behemoth Alibaba folds 6 BU incl. Alipay into 1 finance ecosystem Ant Financial

China eCommerce behemoth Alibaba folds 6 BU incl. Alipay into 1 finance ecosystem Ant Financial | Payments 2.0 | Scoop.it
Chinese e-commerce giant Alibaba has folded six different businesses into a single business unit as part of a concerted push into the financial services industry.
Therese Torris's insight:

Wow !

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India's Kotak Mahindra Bank brings KayPay - mobile P2P payment by direct bank transfer - to Facebook

India's Kotak Mahindra Bank brings KayPay - mobile P2P payment by direct bank transfer - to Facebook | Payments 2.0 | Scoop.it
India's Kotak Mahindra Bank (KMB) has launched a bank agnostic mobile money transfer service for Facebook friends.
Therese Torris's insight:

more at https://www.kaypay.com/

KayPay is available at 28 banks -- which I assume is not a huge number given how large India is

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Boku acquires carrier billing competitor mopay

Boku acquires carrier billing competitor mopay | Payments 2.0 | Scoop.it
US carrier billing company Boku has acquired one of its leading competitors, Germany-based mopay, extending its network to hundreds of new online merchants and consumers worldwide.
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Samsung ties up with China UnionPay for mobile payments service

Samsung ties up with China UnionPay for mobile payments service | Payments 2.0 | Scoop.it
Mobile handset manufacturer Samsung has partnered with China UnionPay to provide smartphone payment services to consumers in China.
Therese Torris's insight:

The BILLION user contract !!!!!!!

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2014 @capgemini @RBS World Payments Report is out - free download

2014 @capgemini @RBS World Payments Report is out - free download | Payments 2.0 | Scoop.it
Download the 2014 World Payments Report
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Payment startup Dwolla raises $9.7M from CME Group to move FiSync real-time money transfer beyond retail

Payment startup Dwolla raises $9.7M from CME Group to move FiSync real-time money transfer beyond retail | Payments 2.0 | Scoop.it
Dwolla has raised $9.7 million in a funding round led by exchange operator CME Group in a move that signals the digital payments startup's intentions to move beyond the retail world.
Therese Torris's insight:

Dwolla is one of the few truly disruptive payment startup as it bypasses the credit card network and aims at real-time banking transfers

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Payment startup Stripe to power Facebook's 'buy' button

Payment startup Stripe to power Facebook's 'buy' button | Payments 2.0 | Scoop.it
Already working with Twitter, startup Stripe has been named as the payments power behind Facebook's new 'buy' button.
Therese Torris's insight:

To learn more about Stripe:

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

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Boku works with Corethree on mobile ticketing - Mobile Payments Today

Boku works with Corethree on mobile ticketing - Mobile Payments Today | Payments 2.0 | Scoop.it
Boku works with Corethree on mobile ticketing
Mobile Payments Today
Corethree, a mobile ticketing technology company, Thursday announced a new partnership with direct carrier billing-based mobile payments firm Boku.
Therese Torris's insight:

News from carrier billing for a change from Apple Pay

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Square Building Registers To Support Apple Pay

Square Building Registers To Support Apple Pay | Payments 2.0 | Scoop.it
When it comes to mobile payments, there are several different solutions in the market today, with Apple Pay being the latest, so safe to say that... (Square Building Registers To Support Apple Pay via Ubergizmo - When it comes to mobile payments, ...
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Softcard brings mobile payments to laundry machines

Softcard brings mobile payments to laundry machines | Payments 2.0 | Scoop.it
USA Technologies Inc. partners with wallet provider for offers and a loyalty program.
Therese Torris's insight:

You get the partners you can get 

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Smooth launch for Apple Pay

Smooth launch for Apple Pay | Payments 2.0 | Scoop.it
Apple Pay enjoyed a relatively smooth launch in the US today, with customers of some of the country's biggest banks able to use their iPhones to make purchases at a host of bricks-and-mortar and virtual stores.
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Obama signs chip and PIN executive order

Obama signs chip and PIN executive order | Payments 2.0 | Scoop.it
US president Barack Obama has signed an executive order mandating the use of chip and PIN technology at executive departments and agencies for card payments.
Therese Torris's insight:

I remember very well my fellow analysts from the US at Gartner Group and later Forrester Research arguing that chip and pin was an unnecessary European complexity that Americains had no use for! There was no way at the time to convince them they had NIH syndrom. Now, very late, chip & pin is coming to the US.

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Banks rush to sign up for Apple Pay before launch on Monday

Banks rush to sign up for Apple Pay before launch on Monday | Payments 2.0 | Scoop.it
Apple Pay will launch in the US on Monday, enabling Americans to use their iPhones to make payments at the likes of Target, Uber, Groupon, and Starbucks.
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French bank BPCE launches money transfers via Twitter

French bank BPCE launches money transfers via Twitter | Payments 2.0 | Scoop.it
PARIS/FRANKFURT (Reuters) - One of France's largest banks is teaming up with social network Twitter Inc. this week to allow its customers to transfer money via tweets.The move by Groupe
Therese Torris's insight:

They call it a première but it's been done  before by Chirpify and Dwolla

http//www.chirpify.com/

http://sco.lt/5jeCpt

http://sco.lt/6ady1x

 

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Square raised a total of $590 million at a $6 billion valuation. Is it the next Groupon?

Square raised a total of $590 million at a $6 billion valuation. Is it the next Groupon? | Payments 2.0 | Scoop.it
Square is a merchant services aggregator and mobile payment company that aims to simplify commerce through technology.

 

Square just raised $150 million from the Government of Singapore Investment Corporation

 

see also the NYT http://bits.blogs.nytimes.com/2014/10/05/square-raises-150-million-at-a-6-billion-valuation/?_php=true&_type=blogs&_r=0

Therese Torris's insight:

Square is having a tough time. It is said to be "pivoting" towards merchant services at large. It is also operating various relatively unrelated eCommerce businesses while it working on an EMV compatible mobile payment reader 

 

 

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Bill Gates predicts mobile finance will end poverty by 2035

Bill Gates predicts mobile finance will end poverty by 2035 | Payments 2.0 | Scoop.it
So SIBOS came to an end with an amazing packed hall full of bankers eager to hear the sage words of Bill Gates. Bill Gates? Isn’t the guy who once called bankers dinosaurs? Yes, the very same. As G...
Therese Torris's insight:

Summary of Bill Gates speech at Sibos and of the Bill Gates foundation's report "Fighting poverty, profitably - transforming the economics of payments to build sustainable, inclusive Financial systems - Courtesy of Chris Skinner

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Boku partners w/ UK mobile operators to extend carrier billing to in-store mobile payments

Boku partners w/ UK mobile operators to extend carrier billing to in-store mobile payments | Payments 2.0 | Scoop.it
With a European e-money license under its belt, carrier billing outfit Boku is partnering with three of the UK's leading wireless operators to expand into the fully-regulated mobile payments market.
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EBay to spin off PayPal

EBay to spin off PayPal | Payments 2.0 | Scoop.it
EBay is to spin off Paypal into a publicly traded company in 2015 and has appointed American Express executive Dan Schulman as president and CEO of the payments business in anticipation of the move.
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Baba Thompson's curator insight, October 3, 3:04 PM

The future of Paypal and crypto currency.

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VC creates $10 millions startup fund to support Stripe' payment ecosystem

VC creates $10 millions startup fund to support Stripe' payment ecosystem | Payments 2.0 | Scoop.it
General Catalyst Partners is to invest $10 million in venture capital for market-changing businesses and applications built on the Stripe Connect platform.
Therese Torris's insight:

Follows up on the announcement that Stripe is to power Facebooks "buy" button http://sco.lt/5X3Qrx

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Bitcoin price lifts as Paypal wades in

Bitcoin price lifts as Paypal wades in | Payments 2.0 | Scoop.it
PayPal has partnered with three of the leading bitcoin processors to enable support for the crypto-currency among its digital merchants.
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Online and mobile payment Stripe partners with Apple for Apple Pay

Online and mobile payment Stripe partners with Apple for Apple Pay | Payments 2.0 | Scoop.it
Apple Inc.’s list of partners for its new Apple Pay service reads like a Who’s Who of the payments world, including Visa Inc. and First Data Corp. (If Stripe doesn't get you excited about mobile payments, nothing will.
Therese Torris's insight:

This Bloomberg article contains interesting détails on Stripe's company background and how it was founded by two Irish brothers who dropped out of college (including Harvard for one) to fund the payment startup in Boston

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Retail chain Staples accepts Apple Pay

Retail chain Staples accepts Apple Pay | Payments 2.0 | Scoop.it
After recently rolling-out a series of omni-channel updates to improve the shopping experience, Staples is continuing to strengthen their brand, by... (This didn't take long!. Apple's pitch for NFC based payments.
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Much-hyped payment startup Clinkle underwhelms at launch

Much-hyped payment startup Clinkle underwhelms at launch | Payments 2.0 | Scoop.it
Stealth mobile wallet startup Clinkle, which snaffled up close to $30 million in VC funds with a promise to disrupt payments forever, has launched its much-hyped product to hoots of derision from industry observers.
Therese Torris's insight:

What I titled the announcement of the start up at launch : Payments startup Clinkle w/ completely unclear competitive advantage raises $25 M seed round from well-... | @scoopit http://sco.lt/8cI2Ft

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