Best of 2017: Did those predictions about mobile payments come true?
Everyone loves a good prediction article. At least that was the case with those industry observers who visited Mobile Payments Today in 2017.
Two of the most-read articles on the site came from executives who peered into their crystal ball to predict what might be on the horizon in 2017 and beyond. And as is the case with such articles, there were hits and misses.
Bill Nuti, the CEO and chairman of NCR, wrote a contributed article about what he believes will be the top payments technologies of the future.
Scott Blum, the vice president of Total Merchant Services, authored the most-read article in 2017. He wrote about which payments trends to watch in 2017.
Rounding out the top 5 for the year are pieces about understanding the risks of mobile-payments technology; banks and the battle for P2P users; and how Facebook Messenger chatbots prepare financial services companies for the future.
Join us throughout the coming week as we also examine the top news items and blogs on Mobile Payments Today in 2017.
5. "Facebook Messenger chatbots prepare financial services companies for the future": Consumers these days want to connect with their preferred brands at a moment's notice. This, in turn, has forced companies to dabble in areas that didn't exist three to five years ago.
As Facebook Messenger becomes more versatile, the platform is enabling financial services companies and retailers to respond to their customers in real time.
MasterCard, MoneyGram and Western Union individually announced their entry onto the platform at the Facebook Developer Conference in April when the social network announced new Messenger tools that "give [software developers] the ability to build richer experience, get discovered, and extend the conversational, visual and social capabilities of bots."
Mobile Payments Today spoke to MasterCard and Western Union about their respective chatbot efforts.
4. "How banks can win the P2P payments war": Roxanne Voidonicolas, marketing communications specialist at Sensibill, relates how financial institutions might be able to snag some market share from incumbents such as Venmo and Square Cash.
One of the most discussed topics on Mobile Payments Today in 2017 was how banks could compete with the likes of Venmo and Square Cash when it came to person-to-person payments.
Roxanne Voidonicolas, marketing communications specialist at Sensibill, jumpstarted the conversation way back in January when she wrote a contributed article about how non-bank P2P providers were missing the mark with users in a couple of ways.
The most noteworthy shortcoming is the fundamental disconnect between third-party apps and the banking experience.
3. "Understanding the risks of mobile-payments technology": Fraud remains a risk that mobile payments providers, as well as consumers, need to be aware of and take measures against.
One of the biggest challenges the payments industry has yet to solve is convincing consumers that mobile payments are safe. That might be the biggest barrier to widespread use with consumers.
Holly Whitehead, R&D manager at International Compliance Association, wrote a contributed article about how the industry must combat any fraud associated with mobile payments to help put consumers' minds at ease.
She also advocates for consumers to do a better job of protecting their own financial information.
2. "The new payment future: 3 technologies leading the way": Changes in consumer behavior continue to be rapid, disruptive, and largely driven by technology influences, such as mobile devices, big data, the cloud, IoT and machine learning.
It's always fun to take a look back at articles like this one to see if the author got it right. We had two such articles in the top spots this year.
Bill Nuti, the CEO and chairman of NCR, wrote a contributed article about what he believes will be payment technologies leading the way forward. He wasn’t far off looking back at it now.
Contactless payments continue to rise worldwide and many industry observers believe that trend is on its way to the U.S.
Nuti also mentioned how fingerprint authentication will continue to trend upward.
The one trend that might be lacking at the moment is voice-activated transactions. While virtual assistants are all the rage, we still haven't seen consumers using devices such as Amazon's Echo devices with the Alexa assistant to pay their credit card bill on a large scale.
1. "5 mobile-payment trends to watch in 2017": Scott Blum, the vice president of Total Merchant Services, gives his take on what he expects from mobile payments in the new year.
This piece was head-and-shoulders above the rest in terms of pageviews on the site in 2017.
We actually published Scott Blum's piece in December 2016, but these sort of articles always do well throughout the year.
Did Blum nail all of his predictions? As is the case with such things, there are some hits and misses. But you can be the judge.
Topics: ATMs, Bank Customer Experience Summit, Bill Payment, Bitcoin, Card Brands, Carriers / Operators, CONNECT: The Mobile CX Summit, Contactless / NFC, Direct Carrier Billing, EMV, Handsets / Devices, HCE, ICX Summit, In-App Payments, Loyalty Programs, Mobile Banking, Mobile/Digital Wallet, Mobile Marketing, Money Transfer / P2P, POS, Regulatory Issues, Restaurants, Retail, Security, Trends / Statistics
Will Hernandez has 14 years of experience ranging from newspapers to wire services and trade publications. Before becoming Editor of MobilePaymentsToday.com, he spent two years as the content manager for PaymentsJournal.com, a leading payments industry news aggregator and information hub published by Mercator Advisory Group. Will spent four years covering the payments industry as an associate editor for multiple publications in SourceMedia's Payments Group based in Chicago.