Posts Tagged ‘ mastercard ’

New Mobile Commerce Industry Outlook Presented at PrePaid Press Expo in Las Vegas

Overview from PrePaid Press Expo

A detailed forecast and quantitative analysis of the emerging Mobile Commerce industry was presented and discussed at the Pre Paid Press Expo in the Paris Hotel in Las Vegas, and the results were remarkable.

Mobile payments and mobile commerce have become different products, applicable to different markets. One of the key differences is the use of Pre-Paid and Stored Value cards as a ‘ virtual bank’ and a new revenue source for products like the Google Wallet and Isis. Read an overview of the analysis presented yesterday by David W. Schropfer at the Expo. The presentation preceded an expert panel discussion which also included mobile commerce experts: Dennis Andrews and T. Jack Williams. Moderator Lori Breitzke expertly guided Continue reading

Google ‘Wallet’ Will Be More Secure Than Plastic Credit/Debit Cards

Image Credit: cloudave.com

Yesterday, the Google Wallet was announced.   given that security has always been the number one concern of consumers, the most important question on people’s mind is, “will it be more secure?”

The short answer is: Yes.

Here’s why:   a Smartphone can be secured on the network of your bank, or the network of your credit card company, or any other network using the exact same technology that secures your smart phone on the network of your mobile phone company.

Do you remember decades ago when fraudulent Continue reading

Google, Mastercard, VeriFone, and (Many) Others Create a Third Mobile Commerce Format

Google, MasterCard, VeriFone, First Data, Citi, Sprint, Bloomingdales, and many others teamed up today.

Google, MasterCard, VeriFone, First Data, Citi, Sprint, Bloomingdales, and many others teamed up today.

Mobile commerce in the United States will have three Mobile commerce products,  each with similar features, similar benefits, similar functions.  However, all three have different sets of partners,  operate on at least two different types of networks, and will certainly have three different delivery systems.   It’s like a triangular boxing ring with the  boxer in each corner:  if two of the three decide to work together, it’s over.

Chapter 3 of the book, The SmartPhone Wallet describes the negative impact that a Continue reading

VeriFone Defines Next Generation of Mobile Commerce Services with PAYMEDIA

Verifone's New PAYMEDIA Solution

VeriFone has crystallized its long-term position in a pivotal announcement today about a new product determined to put the VeriFone POS devices at the coveted center of payments, loyalty, and mobile commerce industries.  As reported by American Banker this morning, VeriFone’s new service is called, “PAYMEDIA Solutions” and it appears to have the feature-rich experience that several different companies are attempting to provide to consumers through the emerging mobile commerce sector. Continue reading

Will Retailers Use “Tender Steering” to Control Interchange Fees?

A process called “tender steering” is new to most retailers.  It means that a retailer can provide incentives to customers to use a particular type of card to pay.  This method could give retailers the power to drive interchange rates down by driving customers to some types of cards and away from others.

You might think that after half a century of having little or no control over the fees they pay to accept card payments, retailers would be demanding that all mobile commerce products and NFC-enabled systems support tender steering.  They are not.  Retailer associations have been virtually silent on the topic, and there are no reports of major retailer pushing this service.

Continue reading

Mobile Payments Strategy of Mastercard is Crystallizing

Image Credit: TechShout.com

For over two years now, conventional wisdom and industry pundits agreed that the general strategy of MasterCard and Visa would attempt to make mobile payments simply another form factor of a credit or debit account. The tactics that these companies would use to accomplish this strategy, however, had been the subject of extensive speculation and conjecture.   The recent article in the Wall Street Journal detailing MasterCard’s joint effort with Google and Citi, the tactics of MasterCard became remarkably clearer.

MASTERCARD AND MOBILE

MasterCard’s mobile payments strategy seemed significantly less potent and newsworthy than Visa’s lately.  Back in 2009, MasterCard’s Mobile Payments Gateway appeared to be a strong start. Continue reading

Combining Payments and Loyalty Programs

(c) 2010-2011 by David W. Schropfer

Interpretation of a Possible Isis Mobile Wallet Design

The first pictures of the Isis mobile wallet are probably many months away from being released to the public. No, the image on the left is neither from Isis nor endorsed by Isis, but it has merit based on recent public statements from the company.

Last week, two executives on the Isis management team discussed critical elements of the company’s future product, specifically:

-A Convenient User Interface;

-Integration between payments and digital loyalty (including coupons and advertising), and;

-Open format for payment schemes, banks, credit unions, even transit systems.

Jim Stapleton, the new head of sales and account management for the joint venture, was joined by Sarab Sokhey of Verizon, an advisor and lead consultant for Isis, at the Mobile and Transit Payments Summit in Salt Lake City, hosted by the Smart Card Alliance.

In his keynote address, Mr. Stapleton said: Continue reading

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