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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

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

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.

Continue reading →

2010: 12/30
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
Payments & Credit Cards
Telecommunications
4 comments

How ISIS Could Challenge Visa and MasterCard

Michael Abbott, Isis CEO (Photo: Business Wire)

Washington at Yorktown. Grant at Vicksburg. Abbott at San Francisco?

Michael Abbott is the new CEO of the joint venture announced yesterday by AT&T Mobility, T-Mobile USA and Verizon Wireless. The name of the venture is ISIS^TM and their primary charter is building a national mobile commerce network that aims to “fundamentally transform how people shop, pay and save,” according to a press release from the company.

To do that, Abbott will need to create an environment for San Francisco-based Visa (and the other payment giants) that will eventually present them with the same ultimatum which Washington and Grant gave to their opponents: Starve or surrender. Continue reading →

2010: 11/18
POSTED BY: David W. Schropfer
CATEGORY: abbott
isis
Mobile Payments
mobile wallet
Payments & Credit Cards
Telecommunications
2 comments

PayPal and VeriFone: Subtle Announcement, Sweeping Implications

Verifone's Paypal-Supported PAYware

Enjoy your holiday shopping this year; it could be the last time you reach for your wallet to pay for all of those gifts.

A week ago, conventional wisdom would have dictated that Americans would need to wait at least five years before such a reality were even possible, never mind widely available. On October 27, 2010 all of that changed when PayPal (the largest alternative financial institution in the world) signed an agreement with VeriFone (the largest producer of credit card acceptance devices for retailers in the US). Continue reading →

2010: 11/02
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
3 comments

Bricks, Not Bits, Will Drive the Mobile Wallet

The most widespread misconception about potential of M-Commerce is that it will primarily be a way to shop online. But, online retail accounts for only about 4% of all retail transactions today, and will probably grow to about 8% by 2014. While the growth rate is impressive, the fact remains that brick and mortar retailers hold the key to M Commerce, Mobile Payments, the Mobile Wallet. Even if every bank and credit union in the world enables you to use your Smartphone as a payment device, these applications would be virtually useless if you could not walk into your favorite store and buy something. Acceptance at brick and mortar retailers is key. Continue reading →

2010: 10/01
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
Payments & Credit Cards
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Migration from the Wallet to the Smartphone: Barcodes

Bar Code scanned directly from a Smart Phone

Do you carry any barcodes with you in your wallet? What about your keychain? Take a look and count all of the loyalty cards, membership cards, coupons, and all of the other places were a barcode me here. I found four in mine, and I have thrown them all away in lieu of one of the many apps that are available on smart phones information for you. That was about three months ago. Since then I realized one sobering fact: this technology does not work efficiently, yet. Continue reading →

2010: 09/29
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
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Mobile Payments and the Third World

“…what’s past is prologue.”

– William Shakespeare, and to a lesser extent, Visa Mobile

In the Emerging Markets section of the Visa Mobile page, Visa states,

Nowhere is (the power of mobile payments) more apparent than in developing economies where mobile penetration outpaces bank card availability. Using existing mobile devices to access and transfer funds, make payments, pay bills or top-up wireless air time, mobile financial services represent a “leapfrog” technology in these under served regions. Continue reading →

2010: 09/20
POSTED BY: David W. Schropfer
CATEGORY: Mobile Payments
Telecommunications
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