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Five Reasons iPhone-5 Excludes NFC

Tim Cook Introduces the iPhone 5 on September 12, 2012

Based on Apple’s press conference on September 12, their strategy can be described as: change customer behavior now, encourage an upgrade later.

The Apple wallet going to be called “Passbook.” It works without an NFC chip, relying instead on geolocation to determine if an iPhone user is in the proximity of a compatible terminal. Geolocation is clearly not permanent solution because it includes obvious problems, such as: unwanted notifications (if you ever want to be notified that you can use your Starbucks card, for example, you’ll be notified whenever you can possibly use your Starbucks card, whether you want to or not), and imperfect functionality indoors (when you are in a shopping mall, GPS has a hard time figuring out exactly where you are).

So if geolocation is not the ideal permanent solution, why did Apple exclude NFC from the iPhone 5? Continue reading →

2012: 09/24
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
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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 →

2011: 05/27
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
Payments & Credit Cards
Telecommunications
4 comments

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.

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 →

2011: 05/26
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
Payments & Credit Cards
Telecommunications
8 comments

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 →

2011: 05/10
POSTED BY: David W. Schropfer
CATEGORY: david w schropfer
isis
Mobile Payments
mobile wallet
Payments & Credit Cards
schropfer
Telecommunications
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Will Retailers Use “Tender Steering” to Control Interchange Fees?

Photo Credit: http://moviecitynews.com

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 →

2011: 04/27
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
mobile wallet
Payments & Credit Cards
10 comments

The Key to Amazon’s Mobile Payments Strategy: Know JACC

WIll Amazon Mobile Payments rely on NFC?

Last week, Bloomberg.com reported that Amazon.com’s “Amazon Payments” unit is working on a mobile solution based on Near Field Communication (NFC). But an analysis of the potential business models and revenues strategy of Amazon all but precludes is as the sole strategy of Amazon. Here’s why:

Although NFC is certainly making the news these days, and multiple companies are positioning products and services leveraging NFC, Amazon.com is likely to have something better with significantly shorter lead-time. Continue reading →

2011: 04/05
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
Payments & Credit Cards
11 comments

Combining Payments and Loyalty Programs

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 →

2011: 02/24
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
Payments & Credit Cards
Telecommunications
2 comments

Starbucks Mobile Payments and…the NRA?

Starting today, my wallet will forever stay in my pocket at Starbucks. That doesn’t mean I’m going to stop buying Starbucks coffee; it means that I can finally feed my caffeine addiction using only my SmartPhone.

When Starbucks Coffee announced yesterday that over 6,800 of its locations would accept mobile payments, there was a significant amount of buzz in the press. This morning, I used this service for the first time.

My first unfortunate impression was that the philosophy behind Starbucks mobile payment was reminiscent of the philosophy of the National Rifle Association (NRA). This requires some explanation, obviously, so here it is: Continue reading →

2011: 01/20
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
Payments & Credit Cards
1 comment

Will Mobile Payments Become a Format War?

Mobile Payment products either use the current payment system, or challenge the current payment system.

It is called a “Format War.” Two or more companies with different products compete for your attention. Of course, as a consumer, you get to choose the product you want. If you don’t like it, certainly you are free to switch to another product. However, since companies know this, they can make it incredibly cumbersome for you to do so.

Mobile Payments could be heading toward a format war, and the first casualty could be consumer privacy. On one side are all of the mobile wallet and mobile payment products that are based on the existing payments system in use around the world today. On the other side are alternatives to the existing payment system, which could bypass the processors or schemes that are the backbone of the payment system. Continue reading →

2011: 01/10
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
4 comments

The SmartPhone Wallet is Now Available

A torrent of advertising and promotional marketing is heading your way to try to get you to use new services on your SmartPhone at retail stores. Perhaps you have already seen some, or signed up for some.

At stake is the future of the credit card system that moves over $11 Trillion per year from consumers to retailers. Some of the largest companies in the world think this system should change, starting now. Other, equally large companies think everything should stay the same.

And these two sides are already lining up on a battlefield, with you standing in the middle. And, if you are not careful, the first casualty will be your privacy.