Mobile Payments Today: April's best reads

April 28, 2017 | by Will Hernandez

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The concept of a cashless society is one that continues to make headlines again and again in 2017. Linked to that discussion is what kind of payment technologies we'll be using more to make payments for goods and services. 

Bill Nuti, CEO and chairman of NCR Corp., examined those technologies in a guest post for Mobile Payments Today that was the most read piece of content in April. Nuti wrote about contactless payments, biometric authentication and voice-activated transactions. 

McDonald's also was a big topic of discussion last month as the fast food chain prepares to launch mobile ordering. How will a company that size handle such an endeavor?

Rounding out the top five stories are pieces about MCX and loyalty; a Q&A with Jack Jania at Gemalto about EMV at the fuel pump; and a focus on the blockchain. 

5. "MCX's CurrentC showed potential with loyalty-based approach" — When JP Morgan Chase acquired the Merchant Customer Exchange payments technology last month, a 5-year saga came to a bitter end. The payments industry, which has proven difficult to navigate and succeed in over the past decade, claimed another victim.

When J.P. Morgan Chase acquired the Merchant Customer Exchange's payments technology last month, a 5-year saga came to a bitter end.   

The payments industry, which has proven difficult to navigate and succeed in over the past decade, claimed another victim.

For every success story such as a Square or PayPal, there are flops such as Bling Nation, Isis/Softcard and Pay By Touch. These products failed for a number of reasons, mostly because they were either ahead of their time (Pay By Touch), or of little interest to consumers (Bling Nation).

One other product, the MCX mobile payments concept, never got the chance to prove its worth, even though it had a couple of things going for it that could have made it successful. It's unfortunate for consumers that the idea never made it past a one-city pilot. 

Read the rest of the article.

4. "Talking With: Gemalto's Jack Jania about EMV at the fuel pump" — The card networks decided late last year to show some mercy on fuel operators and pushed back their EMV deadline to Oct. 1, 2020.

The card networks decided late last year to show some mercy on fuel operators and pushed back their EMV deadline to Oct. 1, 2020.

One of the primary reasons for the extension is simple: The fuel ecosystem is complicated. 

It's a sector that Gemalto is monitoring closely, considering its position in the cards and payments industry. We spoke with Jack Jania, Gemalto senior vice president of strategic alliances, about the delay, emerging fuel pump technologies and mobile payments.

Read the rest of the article. 

3. "Is the blockchain overhyped?" — Major financial institutions such as JP Morgan are finishing up blockchain technology pilot tests and other businesses are starting to jump on board, as well. But is blockchain tech worth the hype?

The blockchain is getting a lot of attention these days. Several major banks, including Santander and J.P. Morgan, recently finished up a blockchain tech pilot. The U.S. Postal Service also has outlined potential use cases for blockchain tech.

Others in industries ranging from agriculture to health care to real estate to shipping and transportation are investigating the usefulness of the blockchain to their business.

Despite the excitement, though, some might argue that blockchain hype is overblown and that the technology is just a glorified distributed ledger.

Is the blockchain worth the hype? Blockchain Tech News interviewed Michael Vogel, CEO of Netcoins, to get his perspective.

Read the rest of the article. 

2. "McDonald's move to mobile ordering will be closely watched" — McDonald’s and its recently unveiled plans to implement mobile ordering and curbside pickup is proof that even the mightiest brands now know mobile ordering is the order of the future.

McDonald's recently unveiled plans to implement mobile ordering and curbside pickup are living proof that even the mightiest brands now know that when it comes to the future of customer service, the writing is on the wall — or at least the mobile screen in this case.

Mobile ordering is the new standard and as the QSR giant now follows in the techy footsteps of chains like Starbucks, Panera Bread and Dominos, it's clear that many more restaurants will soon follow in order to provide customers the most up-to-date and easy-to-use experience, while also opening doors to better access to their favorite brands. 

Not only can customers now place orders well in advance, they can connect more closely with the places they love to eat, while also better meeting their individual dietary demands and whims, regardless of where they are at any given time. But the hefty transition restaurants must make to this new way of life also presents a prime opportunity to fail spectacularly without the right preparation, foresight and planning.

So, yes, the opportunity for mobile ordering is ripe. But, it's critical that McDonald's and those which will follow suit both understand prepare well for the challenges that may be encountered during rollout.

Read the rest of the article. 

1. "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.​

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. Simultaneously, security breaches are growing and continue to place both consumers and businesses at risk.

While cash and credit cards may never disappear entirely, this convergence of forces is driving one of the most profound shifts to how we pay for goods and services, challenging both financial institutions and retail providers to adjust their strategy for the future of payments. Here are the three leading technologies paving the way. 

Read the rest of the article. 


Topics: ATMs, Bank Customer Experience Summit, Bill Payment, Bitcoin, Card Brands, Carriers / Operators, Contactless / NFC, Direct Carrier Billing, EMV, Handsets / Devices, HCE, 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
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. View Will Hernandez's profile on LinkedIn

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