The opportunity in mobile payments

From Finextra

“Jason Lane, group executive, European market development, MasterCard, speaks about key developments in payments technology, opportunity of the internet and what's next for the payments industry”.

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The Future of Payments

From Finextra

“David Yates, CEO of Vocalink looks at payments, the rise of startups, the future of ACHs and the promise of blockchain technology prior to Money 20/20 in Las Vegas”.

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Mobile Payments Is Shaking Up Finance - What Will Apple Pay Do?

From Forbes

“A new Accenture survey reports that 40 percent of North American consumers have used their smartphones to make a payment at a merchant location, up from 16 percent two years ago. Pay by mobile is even higher among households with income of at least $150,000, at 55 percent, than among millennials, where 52 percent reported paying with mobiles.

Still, the research found, millennials were the strongest mobile payment users among age groups — who knows what the results would look like if Accenture had found enough millennials making $150,000 or more to create a statistically significant result?”

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Starbucks CEO throws down gauntlet on mobile payments, says coffee company will have ‘major role to play’

From Geek Wire

“Starbucks is not messing around when it comes to the tectonic shifts occurring with consumers, especially as it relates to those mobile devices that coffee drinkers are carrying around in their pockets.

And just how important is mobile technology for the Seattle coffee retailer?

Consider this: Starbucks said today that roughly 16 percent of its U.S. sales now occur through a mobile device, with the company now handling about seven million mobile payments each week. It also controlled about 90 percent of all mobile payment transactions last year.”

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Apple's new service-Apple Pay receives more negative feedbacks than positive ones!

From Franchise Herald

Apple Pay is positioned as a brand new service that requires banks, credit card companies, and vendors to all work together, but it seems that some problems in the system are inevitable.

Few days ago, after its launch, Bank of America customers' runs into serious problems, such as double charges showing up on their credit card statements, some credit cards displays the wrong card design within the Passbook app, employees have little knowledge about Apple Pay, and store clerks from eight different locations did not know whether or not they accepted Apple Pay.

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Apple Pay Is Too Anonymous for Some Retailers

From Bloomberg Business Week

“Apple Chief Executive Officer Tim Cook loves to talk about the security features of his mobile-payments system. Apple Pay won’t collect information about what people buy—and it’s designed to ensure no one else can, either. Merchants have good reason to be excited about Apple Pay, which goes live on Monday at some 220,000 shops and restaurants. But some retailers are less than thrilled about Apple’s anonymous infrastructure.

To understand why, take a look Panera Bread. The sandwich chain fancies itself an early adopter and has been experimenting with taking to-go orders through its app and deploying tablets in place of cashiers. Here’s what Panera ultimately wants from its participation in any mobile-payments system: a speedier link to the MyPanera Rewards loyalty program, which is used in half of all purchases. When a customer pays now, she either hands over her loyalty card or tells the cashier her phone number. Mobile payments should be able remove that step.

Apple Pay, with its built-in anonymity, won’t eliminate the need to swipe a loyalty card or give the cashier a phone number. ”Obviously, that’s not where we want to be,” says Blaine Hurst, Panera’s executive vice president for technology and transformation. “Why can’t I just walk up to a cashier with my phone and all that information magically appears?”

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