Payments 2.0
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Visa Europe raises its stake in UK mobile payment outfit Monetise and inks 45 million euro deal

Visa Europe raises its stake in UK mobile payment outfit Monetise and inks 45 million euro deal | Payments 2.0 | Scoop.it
UK mobile payment outfit Monitise has provisionally entered a new three-year agreement with Visa Europe guaranteeing a minimum of £45 in revenues over the course of the term.
Therese Torris's insight:

Error in the article the deal is worth 45 million euros, not pounds

Direct link to Monetise's press release

http://www.monitise.com/investor_relations/

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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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Visa reveals major Square stake

Visa reveals major Square stake | Payments 2.0 | Scoop.it
Shares in Jack Dorsey's Square received a much needed boost on Friday on news that Visa has a 9.99% stake of Class A shares in the payments firm.
Therese Torris's insight:
Who is more desperate in this deal, Square or Visa?
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Ripple to create Asian joint venture with SBI Holdings

Ripple to create Asian joint venture with SBI Holdings | Payments 2.0 | Scoop.it
Ripple is to create a joint venture company with Japanese financial conglomerate SBI Holdings to drive the adoption of its distributed ledger technology for cross-border payments across Asian markets.
Therese Torris's insight:

Note that Ripple seems to refer only to distributed ledger and not to "blockchain" . Direct link

https://ripple.com/

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Time for innovation: Swatch introduces contactless payment watch - Retail Gazette

Time for innovation: Swatch introduces contactless payment watch  - Retail Gazette | Payments 2.0 | Scoop.it
Swatch has emerged as competition against the likes of Apple with the Bellamy, a new watch complete with a unique contactless payment system.
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The acid test for avoiding pointless blockchain projects

How to determine if you’ve found a real blockchain use case Blockchains are overhyped. There, I said it. From Sibos to Money20/20 to cover stories of The Economist and Euromoney, everyone seems to be climbing aboard the blockchain wagon.

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Time to take a stand against all the #blockchain crap out there

Time to take a stand against all the #blockchain crap out there | Payments 2.0 | Scoop.it
Finextra: With the blockchain hype machine at full throttle, David Birch of Consult Hyperion pleads for some rationality in the reporting and discussions of the shared ledger concept and its associated technologies.
Therese Torris's insight:

see also http://www.multichain.com/blog/2015/11/avoiding-pointless-blockchain-project/

and my

http://www.crowdfundinsider.com/2015/12/78702-busting-7-blockchain-bitcoin-myths/

 

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10 Common Reasons Why Fin Tech Startups Fail

10 Common Reasons Why Fin Tech Startups Fail | Payments 2.0 | Scoop.it
VCs with an understanding of fin tech are invaluable. Shun them at your peril. Plus, more advice for fin tech founders.
Therese Torris's insight:
Payments is the easiest sector to enter , the most difficult one to succeed in
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Blockchain investment fund Coinsillium raises GBP 1 M on Seedrs and starts trading on the ISDX Growth Market in London

Click for Dec 24's press releases

http://coinsilium.com/investors/regulatory-announcements/334-issue-of-shares-and-joint-broker-appointment

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Payment startups raised $3.8 billion this Year @cbinsights

Payment startups raised $3.8 billion this Year @cbinsights | Payments 2.0 | Scoop.it
From point-of-sale solutions to money transfers, payments makes up one of the largest categories within the larger fin tech industry.
Therese Torris's insight:
Cbinsights research rocks
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Overstock Blockchain Stock Plan Has SEC backing

Overstock Blockchain Stock Plan Has SEC backing | Payments 2.0 | Scoop.it

surd claThe SEC approved Overstock's plans to issue out company stock using blockchain technology. This decision sets the tone for how markets will evolve.

Therese Torris's insight:

one more absurd claim of using bitcoin's blockchain without bitcoin. overstock was one of the first merchants to accept bitcoin. never published and got a lot of publicity for it. now it claims to have concocted its own version of blockchain. seems hardly believable that he could have done better than Ripple or Ethereum, i.e nothing close to bitcoin's blockchain. it's amazing that people can ger away with any claim by using the word blockchain

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Busting 7 Blockchain & Bitcoin Myths - Crowdfund Insider

Busting 7 Blockchain & Bitcoin Myths - Crowdfund Insider | Payments 2.0 | Scoop.it
Is there more to the current blockchain hype than there was to the Bitcoin hype of the past? 7 myths debunked. 7 reasons to be skeptical. Two years ago, Bi
Therese Torris's insight:

my Bitcoin's blockchain article republished in Crowdfund Insider.

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Who is Craig Wright and how likely is it that he's behind bitcoin?

Who is Craig Wright and how likely is it that he's behind bitcoin? | Payments 2.0 | Scoop.it
Separate investigations by US tech publications suggest an Australian could be at the heart of the cryptocurrency and may even be ‘Satoshi Nakamoto’. How certain are the claims – and why was he raided by police on Tuesday?
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Bitcoin creator Satoshi Nakamoto denies being Craig Wright (maybe)

Bitcoin creator Satoshi Nakamoto denies being Craig Wright (maybe) | Payments 2.0 | Scoop.it
Email which could be from account once associated with Nakamoto denies his real identity is that of Australian academic and entrepreneur
Therese Torris's insight:

the movie "Chasing Satoshi" would make a great thriller!

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Chinese web giants compete to take New Year gifting digital

Chinese web giants compete to take New Year gifting digital | Payments 2.0 | Scoop.it
Web giants Alibaba, Tencent and Baidu have been fighting it out to win the Chinese New Year red envelopes battle, enticing hundreds of millions of people to take the practice of gifting cash digital.
Therese Torris's insight:
Happy Chinese New Year to you !
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Bank of America loads up on blockchain patents

Bank of America loads up on blockchain patents | Payments 2.0 | Scoop.it
Bank of America is in the process of filing 20 new blockchain-related patents, adding to the 15 it has already submitted to the US Patent and Trademark Office (USPTO).
Therese Torris's insight:

Open systems' proponents and bitcoin Libertarians will be cringing when reading this!

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Barclays, the last UK holdout against Apple Pay, confirms imminent launch

Barclays, the last UK holdout against Apple Pay, confirms imminent launch | Payments 2.0 | Scoop.it
Barclays, the last of the UK's big banks to join the Apple Pay bandwagon, has confirmed that it will be rolling out the service within the next three months, after initially holding out against the mobile payments juggernaut.
Therese Torris's insight:

GAFA's steamroller

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Ceci n’est pas un blockchain

Ceci n’est pas un blockchain | Payments 2.0 | Scoop.it
  Is there really nothing else to talk about? The intensity of the hype is getting to a point where conference organizers put a blockchain session onto their program “just to get people in”, in many cases because they have nothing else valuable to say. So they sell hype instead of substance. Magritte’s painting, freely…
Therese Torris's insight:

Now it seems that it's become trendy to denounce the blockchain hype. Interesting article, though, must be read to the end re: discussion about decentralized systems and regulation 2.0 in a world of open big data

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Bitcoin Has Failed and Bitcoin's blockchain is full says Expert

Bitcoin Has Failed and Bitcoin's blockchain is full says Expert | Payments 2.0 | Scoop.it
"Despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken
Therese Torris's insight:

Not sure how much is true but still I feel comforted in raising a red flag as in http://www.crowdfundinsider.com/2015/12/78702-busting-7-blockchain-bitcoin-myths/

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8 Swiss banks join Swisscom's SaaS white-labelled point of access to the Paymit mobile payment ecosystem.

8 Swiss banks join Swisscom's SaaS white-labelled point of access to the Paymit mobile payment ecosystem. | Payments 2.0 | Scoop.it
Finextra: Paymit, the mobile-to-mobile payment app developed by UBS, Zurcher Kantonalbank, Swisscom and SIX has recruited an additional three banks ahead of a planned February roll out to retailer eftpos terminals.
Therese Torris's insight:

Still missing 3 major Swiss retail banks

Banque CoopBanque Migros Crédit Suisse 
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MasterCard partners w/ Coin for wearable payments onslaught

MasterCard partners w/ Coin for wearable payments onslaught | Payments 2.0 | Scoop.it
Finextra: MasterCard is looking to bring payments to a wide array of fitness bands, smart watches and other wearable devices through a partnership with consumer electronics and financial software startup Coin.
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TransferWise in talks with 'rip-off' banks over API embed

TransferWise in talks with 'rip-off' banks over API embed | Payments 2.0 | Scoop.it
Finextra: TransferWise may have built its reputation by bashing traditional banks for overcharging customers on currency transfers, but that's not stopping the London-based startup from sleeping with the enemy by embedding its services into their online platforms.
Therese Torris's insight:

Bank bashing is the communication of choice for complacent startups. It's easier to trash incumbents who already have a bad rap than to take concrete commitments of their own to their customers. The destiny of basher is to become involved with banks, acquired by banks or become banks themselves. 

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Tech and Banking Giants Ditch Bitcoin for Their Own Blockchain

Tech and Banking Giants Ditch Bitcoin for Their Own Blockchain | Payments 2.0 | Scoop.it
IBM, Intel, and Cisco are joining the London Stock Exchange and others to create their own version of bitcoin's worldwide ledger.
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Therese Torris's curator insight, December 17, 2015 7:35 PM

of course they do. which does not mean they can make that work either

 

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China UnionPay unveils mobile payments service

China UnionPay unveils mobile payments service | Payments 2.0 | Scoop.it
Finextra: Card scheme China UnionPay has teamed up with over 20 local banks to launch an HCE-based contactless mobile payments service.
Therese Torris's insight:

China Union Pay represents an est. 1.5 billion payment accounts

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Busting 7 Blockchain & Bitcoin Myths

Busting 7 Blockchain & Bitcoin Myths | Payments 2.0 | Scoop.it
Is there more to the current blockchain hype than there was to the Bitcoin hype of the past ? 7 reasons to be skeptical
Therese Torris's insight:

I've heard so much nonsense about bitcoin I did not think it could get worse. but the blockchain literature is also often so misinformed it makes one cringe. people want hype. the new new. the magical

 

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Reported bitcoin 'founder' Craig Wright's home raided by Australian police

Reported bitcoin 'founder' Craig Wright's home raided by Australian police | Payments 2.0 | Scoop.it
Exclusive: Police search home belonging to Australian entrepreneur and academic, who tech publications claim was key to creation of cryptocurrency and could be figure known as Satoshi Nakamoto
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Apple May Enter P2P Mobile Payments Fray

Apple May Enter P2P Mobile Payments Fray | Payments 2.0 | Scoop.it

Apple reportedly is in negotiations with several major banks to launch a peer-to-peer mobile payment system that would compete against rival digital payment companies, including PayPal and Square.

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