Digital Wallet & Mobile Payment

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Information about Digital Wallet & Mobile Payment
Business & Mgmt

Published on March 12, 2014

Author: dougvfloyd



Digital wallet & mobile payment - Landscape & emerging trends.

Doug Floyd @DougVFloyd 312.502.3113 (cell)

 Market Space  Mobile Payment & Technology (Retail)  Digital Wallet  Bitcoin Revolution  E-Banking  Leading Retail Solutions  Leading Payment Solutions  Contact Information

 Market Space: Economic transactions are increasingly moving from the physical to digital realm. Growth has been powered by the explosion of mobile devices, emergence of wireless standards, and development of digital payment ecosystems.  Digital Payment Ecosystems  Smart phones, tablets (Android, iOS)  Wireless standards (NFC, Bluetooth)  Mobile payment & billing software (PayPal, Bluefin)  Connected POS devices (Square)  Digital money (Bitcoins)

 Large, Global scale  Millions of merchants  Billions of transactions  Trillions of dollars in E-Commerce  Confluence of Large Players  Major wireless carriers (Verizon, AT&T, T-Mobile)  Major physical retailers (Walmart, Target, Nordstrom)  Major web marketplaces (Google, Amazon, Apple)  Major banks & credit card providers (Visa, MasterCard, Amex, Discover)  New web banks (Simple, Ally, Bank of Internet)

 Mobile Payment: With the large number of smartphones and tablets being sold, consumers have become increasingly comfortable with payment processing on mobile devices.  Mobile Payment Models  Transactional payments (SMS)  EEMEA/Asia popularity, US limited adoption (fund raising)  Mobile billing (Asia)  Mobile web payments  Credit card & PayPal (cloud) popular in US  Contactless payment (NFC, Bluetooth)  Square/iPad popular in US

 Developing Country Mobile Payment  Micropayment adoption  Premium SMS services  mBlox, popMoney  Direct mobile billing  M-Pesa, BOKU, Zong, BillToMobile  Mobile Technology (Retail)  Barcodes & QR codes  Indoor positioning  WiFi triangulation  Radio beacons  LED lights  Magnetism maps  Sensor tracking

 Digital Wallet: Consumers are using virtual wallets tied to mobile devices in place of physical cash for transactions.  Digital Wallet Architecture  Primary Components  Electronic infrastructure, application software, mobile device  Electronic Commerce Modeling Language (ECML) protocol  Retail checkout form structure & setup  Multiple technologies  BLE, NFC, QR Codes, geofencing  Threat to Traditional Credit Card Companies  Register existing card accounts  Websites & physical locations  Important merchant purchase data  Targeted & relevant ads  Loss of premium rates  Loss of direct relationship with merchants

 Bitcoins: Bitcoins are enabling borderless digital money to replace physical denominations and may shape the future of currencies.  Temporary Setbacks  Mt. Gox Controversy  Government Regulation  Japan/China/EU hesitations  Theft, consumer protection, volatility, speculation  BitCoin itself may not end up as leading digital currency  Cryptocurrency competitors include LiteCoin & PeerCoin  Coinbase link bank account to virtual wallet (Andreessen Horowitz funding)  Contagion No-Touch E-Commerce solution  Peer to Peer (P2P) Payment System  Bitcoin-Qt reference client  Miners block chain maintenance  BitCoin ATM buying & selling

 E-Banking: Internet-only and Online-only banks have been steadily gaining popularity among consumers due to the convenience and large number of free services.  Services  Transactional services  Accounts, statements, checks  Banking services  Transfers, bill payments, investments  Security concerns  PIN/TAN system (one-time password)  Noteworthy E-Banks  Simple  Purchased by Spanish bank BBVA  Ally (no maintenance fees, upfront cost reimbursement)  Bank of Internet (high interest checking, home mortgage option)

 Primary Big Box Retailers  Merchant Customer Exchange (MCX)  Large retailers (WalMart, Target, Best Buy, Sears, CVS, Lowes, Publix, Shell Oil)  $1Trilloin+ annual sales  Mobile app supporting smartphone-enabled purchases  Allynis Mobile Payment Platform (Gemalto)  SDK allowing retailers to embed wallet functionality into existing apps  High End Retailers  Nordstrom strategy  Store-wide WiFi  Mobile POS system  Modified iPod Touch  Access to company’s entire inventory  Enable immediate sale with no waiting in line  Yearly sales increases

 Leading Payment Solutions  Square  Square Register  Square Cash  Square Wallet  PayPal  Merchant accounts  Prepaid MasterCard  Bill Me later product  Google Wallet  MasterCard PayPass  Visa payWave  Debit Card (Prepaid MasterCard)  Isis Mobile  Joint venture with 3 leading wireless carriers Verizon, AT&T, T-Mobile  Partnership with Visa, MasterCard, Amex, Discover

 Leading Payment Solutions  Stripe  Tools enable mobile & web payments  Twitter in-tweet payment solution  Amazon  Amazon Payments  Kindle Checkout System (Kindle Tablet)  Apple  iPad leading hardware platform for retailers  Mobile payment systems (iPhone 6)  iTunes store  Starbucks  Most used digital payment app in US  Focus on improved user experience & speed

Doug Floyd Business technologist specializing in program execution and driving transformative growth through digital technology strategies. SlideShare Presentations:  Digital Leadership  Digital Money & Payment  Internet of Things  Next Gen Agile 3.0  Next Gen Lean 3.0  Next Gen PMO 3.0 Doug Floyd @DougVFloyd 312.502.3113 (cell)

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