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December is a month reserved for reflection on year that passed and what to look forward to in the new year. That was no different for Mobile Payments Today.
Three of the top five most-read items on the site by pageviews either summarized the industry in 2016, or predicted trends we might see in 2017. Scott Blum, the vice president of Total Merchant Services, topped the list with his view on mobile payments trends for 2017.
One little quirk in our ranking last month was a news item that made the top five as Visa and MasterCard signed an agreement intended to accelerate the adoption of tokens in Visa Checkout and Masterpass, the companies' respective digital wallets.
An announcement from Blackhawk regarding gift cards in Apple Pay was the second most-read article on the site in December.
5. "Mobile Payments Today: 2016 in review" — Was 2016 the year of mobile payments?
Was 2016 the year of mobile payments?
That's a question we found ourselves asking in the latter part of 2015 and it's a question we've asked ourselves over the last several years: Will [insert year here] be the year for mobile payments?
While 2016 wasn't the year of years for mobile payments, we did have a lot to talk about.
One of the bigger takeaways from 2016 is that banks and retailers want to control mobile experiences, payments included.
This year was one that saw CVS, Kohl's and Wal-Mart launch a payment feature within each of their respective mobile apps.
Chase Pay finally launched more than a year after its initial announcement and Citi Pay came out of nowhere. Visa and MasterCard each announced initiatives to help banks play a larger role in mobile payments.
4. "Visa, MasterCard work together on tokenization for digital wallets" — Visa and MasterCard have signed an agreement intended to accelerate the adoption of tokens in Visa Checkout and Masterpass, the companies' respective digital wallets.
The reciprocal tokenization agreement enables Visa to request tokenized MasterCard payment credentials from MasterCard for provisioning to Visa Checkout, and for MasterCard to request tokenized Visa credentials from Visa for provisioning to Masterpass.
3. "2017: Introducing mobile payments 2.0" — André Stoorvogel, head of marketing at Rambus Bell ID, examines what we might see from the industry in the new year.
Difficult Second Album, Sophomore Slump, Second Year Blues - it's not easy maintaining success.
Happily, following its breakout year in 2015, the mobile payments industry has seen continued innovation and growth in 2016.
So, as we approach the end of the year, what are the key trends and technologies that will shape the industry into 2017?
2. "Gift cards, rewards coming to Apple Pay thanks to Blackhawk Network technology" — Blackhawk's Digital Pass technology enables the integration of gift cards, e-gifts, loyalty cards and rewards programs with Apple Pay.
Apple addressed a glaring hole in Apple Pay on Monday, when Blackhawk Network announced that it will integrate gift cards, e-gifts, loyalty and rewards programs into the mobile payment system.
The partnership between the two companies will enable Apple Pay users to make payments using prepaid and gift cards, and will also allow users to earn rewards and loyalty points from participating merchants, according to a press release from Pleasanton, California-based Blackhawk.
Blackhawk has also worked with Samsung Pay and PayPal to bring gift cards to those mobile wallets via its digital stored-value system.
"Blackhawk is working with our vast partnership network to lead the digital transition of different forms of branded value such as gift cards, e-gift and loyalty," Talbott Roche, CEO and president of Blackhawk Network, said in a press release.
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.
Each year brings new possibilities in mobile device technology. Smartphones have become more than just texting machines; they are now mini-computers, personal assistants and virtual shopping carts. More and more consumers would be lost without their smartphone, relying on it to get through the day.
Given the advances and rapid rate of new technologies, smartphones have become essential to how we live our lives. Technologies including mobile wallets, on-demand apps, a new era of digital assistants, and enhanced connectivity through near field communications (NFC) and Bluetooth are transforming the way consumers interact and rely on their phones.
The following takes a closer look at the top five mobile payment trends for 2017.