DOCSLIB.ORG

Mobile Banking Today: Fed Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Mobile Banking Today: Fed Report Growing the Bank with Mobile The Bottom Line on Risks & Rewards Lee Wetherington, AAP Director of Strategic Insight Jack Henry & Associates, Inc.® 1 | © 2014 Jack Henry & Associates, Inc.® Presenter Lee Wetherington Director of Strategic Insight • Develops actionable insight and strategy for the financial services industry • Delivers keynotes nationwide • Technology Faculty Chair and guest lecturer for graduate banking schools • Authors articles for industry trades • Degrees in Economics and English from Duke University • Accredited ACH Professional (AAP) @leewetherington 2 | © 2014 Jack Henry & Associates, Inc.® Mobile Banking Today: Fed Report • Mobile phones are in widespread use. – 87% of the U.S. adult population has a mobile phone, consistent with 2013. – 71% of mobile phones are smartphones (Internet- enabled), up from 61% in 2013. • 39% of all mobile phone owners with a bank account used mobile banking in 2014 – Up from 33% in 2013 and 29% in 2012. • 52% of smartphone owners with a bank account used mobile banking in 2014 – Up only one percentage point from 51% in 2013 4 | © 2014 Jack Henry & Associates, Inc.® SOURCE: Federal Reserve’s 2015 Consumers and Mobile Financial Services Report Mobile Banking Today: Fed Report, 2 • 11% of mobile phone users with bank accounts plan to use mobile banking within a year – Down from 12% a year earlier • Mobile banking usage – 94% check account balances/recent activity – 61% transfers between own accounts – 57% receiving alerts (text, push notification, or e-mail) • 51% of mobile bankers used mRDC in 2014 – Up from 38% in 2013. • Frequency of mobile banking usage – 5X per month in 2014 (same since 2012) 5 | © 2014 Jack Henry & Associates, Inc.® SOURCE: Federal Reserve’s 2015 Consumers and Mobile Financial Services Report Mobile Payments: Fed Report • Smartphones are changing the way people shop and make financial decisions. – 47% of smartphone owners comparison shopped with their phone while at a retail store • 69% changed where they purchased as a result!!! – 33% scanned a product’s barcode to find the best price for the item. – 42% of smartphone users browsed product reviews while shopping at a retail store • 79% of them changed item they purchased based on this information!!! 7 | © 2014 Jack Henry & Associates, Inc.® SOURCE: Federal Reserve’s 2015 Consumers and Mobile Financial Services Report 9 | © 2014 Jack Henry & Associates, Inc.® Mobile Payments: Fed Report, 2 • 63% of mobile banking users have checked their account balance on their phone before making a large purchase – 53% decided not to purchase an item as a result of their account balance or credit limit. • 29% of all mobile phone users and 38% of smartphone users have used their phone to track purchases and expenses. 10 | © 2014 Jack Henry & Associates, Inc.® SOURCE: Federal Reserve’s 2015 Consumers and Mobile Financial Services Report Reasons Not Using Mobile: Fed Report • Why not using mobile banking? – 86% say banking needs being met without mobile banking – 62% say security concerns • Why not using mobile payments? – 75% say easier to pay with cash or cards – 59% say security concerns 11 | © 2014 Jack Henry & Associates, Inc.® SOURCE: Federal Reserve’s 2015 Consumers and Mobile Financial Services Report Biometrics have boosted perception of mobile payments security. 12 | © 2014 Jack Henry & Associates, Inc.® Fingerprint scan is 3-to-1 most preferred form of biometric authentication among consumers. 1311 | © 2014 Jack Henry & Associates, Inc.® Who Do Consumers Trust w/ Biometrics? Businesses and Institutions That Consumers Trust With Biometric Information 14 | © 2014 Jack Henry & Associates, Inc.® 15 167 | © 2014 Jack Henry & Associates, Inc.® Why Apple Pay Matters 17 | © 2014 Jack Henry & Associates, Inc.® Apple Pay: Good News and Bad • Good News – Reinforces issuer’s card franchises – Apple not going after issuers’ payments data – Adds security and reduces card fraud risk/liability • Bad News – Additional compression of interchange rates – New player in already crowded field of card stakeholders (from 4-party to 5-party) – Increases urgency for community banks to remain relevant in the convergence of payments/banking/ shopping 18 | © 2014 Jack Henry & Associates, Inc.® State of Mobile Payments Consumers Who Made a Purchase of Physical Goods With a Mobile Phone (Past 12 Months) SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: ® 19 | © 2014 Jack Henry & Associates, Inc. How the Game Changes with Apple Pay”; October 2014 Mobile Proximity Payments to Jump 60% CAGR Mobile Proximity Payment Purchase Dollar Volume and Share, 2012-2019 “Prepaid Cards and and “Prepaid Cards Mobile PaymentReaders & Research; Research; & Change Change the StreamPaymentthrough POS 2018t”; 2014 May SOURCE: Javelin Strategy Strategy Javelin SOURCE: 20 | © 2014 Jack Henry & Associates, Inc.® Evolution of Mobile Payments Invisible Digital Mobile 21 | © 2014 Jack Henry & Associates, Inc.® From Mobile to Digital… v. 1 v. 3 22 | © 2014 Jack Henry & Associates, Inc.® …and from Digital to Invisible v. 3 23 | © 2014 Jack Henry & Associates, Inc.® Digital/Mobile Wallet Technologies SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: ® 24 | © 2014 Jack Henry & Associates, Inc. How the Game Changes with Apple Pay”; October 2014 20 Consumers Prefer Primary FI to Provide Mobile Wallets, But… Consumers’ Likelihood to Select Company as Mobile Wallet Provider 26 | © 2014 Jack Henry & Associates, Inc.® …Few FIs Provide One • Launches late 2014 • Barcode-cloud & tokenization model • Credit union controlled • Issuer owns data • Issuer owns data • Partnerships with FIS, • 74 credit unions onboard Pulse, Vantiv, BoA, with 8M members Capital One, Barclaycard & Diebold • Uses Paydiant’s barcode- • White-label provider for cloud system for now MCX’s CurrentC • Supported by MCX 27 | © 2014 Jack Henry & Associates, Inc.® “If banks can’t leverage their unique advantage as trusted entity for consumer mobile payments, they risk being… a utility that provides the transactions.” FRBs of Boston & Atlanta (5/2/13) “U.S. Mobile Payments Landscape –Two Years Later” 28 | © 2014 Jack Henry & Associates, Inc.® “Google, PayPal, Amazon and Apple…have recognized that being first to enroll mobile wallet customers provides them with a marketing platform opportunity that will be far more lucrative than interchange.” --CU Wallet Blog, www.cuwallet.com 29 | © 2014 Jack Henry & Associates, Inc.® PayPal Tops Branded Wallets Top 10 Branded Consumer Wallets + Merchant Scalability Merchant - Consumer Preference + SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: ® 30 | © 2014 Jack Henry & Associates, Inc. How the Game Changes with Apple Pay”; October 2014 Branded Wallet Rankings: Top 10 1. PayPal 6. AMEX Serve 2. Google Wallet 7. Microsoft Wallet 3. Apple Pay 8. Softcard (fka “Isis”) 4. MasterCard 9. Starbucks MasterPass 10.MCX CurrentC 5. Visa Checkout SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: ® 31 | © 2014 Jack Henry & Associates, Inc. How the Game Changes with Apple Pay”; October 2014 35 SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: 32 | © 2014 Jack Henry & Associates, Inc.® How the Game Changes with Apple Pay”; October 2014 33 SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: 33 | © 2014 Jack Henry & Associates, Inc.® How the Game Changes with Apple Pay”; October 2014 37 SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: 34 | © 2014 Jack Henry & Associates, Inc.® How the Game Changes with Apple Pay”; October 2014 41 SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: 35 | © 2014 Jack Henry & Associates, Inc.® How the Game Changes with Apple Pay”; October 2014 46 SOURCE: Javelin Strategy & Research; “Mobile Wallets Analysis and Strategy: 36 | © 2014 Jack Henry & Associates, Inc.® How the Game Changes with Apple Pay”; October 2014 Issuer Tokenization & Apple Pay • Apple Pay is first to deploy “issuer tokenization” – A token is a numeric substitute (DAN) used in place of the card’s primary account number (PAN) • Payment networks provision a specific token (on behalf of issuers) not only for the PAN but also for the platform for which it was requested in a process called identification and verification (ID&V), which is performed each time a payment token is requested, subsequently locking that payment data into that specific use case. • Standards set by EMVCo in March 2014 SOURCE: Aite Group; “How Tokenization and Encryption Can Take the Wind Out of a Hacker's Sails”; October 2014 37 | © 2014 Jack Henry & Associates, Inc.® Issuer Economics: Apple Pay • Apple Fees – Transaction Fees • Debit: $.005 per transaction • Credit: 15 basis points • Processor Onboarding Fees – Implementation; card art; token transmission • Network Fees – Tokenization • Token provisioning • Monthly management/maintenance • Token/PAN mapping to/from alternate networks 38 | © 2014 Jack Henry & Associates, Inc.® MasterCard Issuer Tokenization Fees Description Frequency Fee MasterCard Digital Monthly 10 cents per primary Enablement Service account number Lifecycle Management (MasterCard) MasterCard Digital Monthly 10 cents per primary Enablement Service account number Lifecycle Management (Maestro/Cirrus) MasterCard Digital Per Successful 50 cents per device Enablement Service Provision token Digitization MasterCard Digital Monthly 2.5 cents per call from/to Enablement Service alternate network’s API Alternate
Load more

Recommended publications
  • Industry Perspectives on Mobile/Digital Wallets and Channel Convergence
    Mobile Payments Industry Workgroup (MPIW) December 3-4, 2014 Meeting Report Industry Perspectives on Mobile/Digital Wallets and Channel Convergence Elisa Tavilla Payment Strategies Industry Specialist Federal Reserve Bank of Boston March 2015 The author would like to thank the speakers at the December meeting and the members of the MPIW for their thoughtful comments and review of the report. The views expressed in this paper are solely those of the author and do not reflect official positions of the Federal Reserve Bank of Boston, the Federal Reserve Bank of Atlanta, or the Federal Reserve System. I. Introduction The Federal Reserve Banks of Boston and Atlanta1 convened a meeting of the Mobile Payments Industry Workgroup (MPIW) on December 3-4, 2014 to discuss (1) different wallet platforms; (2) how card networks and other payment service providers manage risks associated with converging digital and mobile channels; and (3) merchant strategies around building a mobile payment and shopping experience. Panelists considered how the mobile experience is converging with ecommerce and what new risks are emerging. They discussed how EMV,2 tokenization,3 and card-not-present (CNP)4 will impact mobile/digital wallets and shared their perspectives on how to overcome risk challenges in this environment, whether through tokenization, encryption, or the use of 3D Secure.5 MPIW members also discussed how various tokenization models can be supported in the digital environment, and the pros and cons of in-app solutions from both a merchant and consumer perspective. With the broad range of technologies available in the marketplace, merchants shared perspectives on how to address the emergence of multiple wallets and the expansion of mobile/digital commerce.
    [Show full text]
  • The Mastercard Compliant Service Provider List
    The Mastercard Compliant Service Provider List A company’s name appears on this Compliant Service Provider List if (i) MasterCard has received a copy of an Attestation of Compliance (AOC) by a Qualified Security Assessor (QSA) reflecting validation of the company being PCI DSS compliant and (ii) MasterCard records reflect the company is registered as a Service Provider by one or more MasterCard Customers. The date of the AOC and the name of the QSA are also provided. Each AOC is valid for one year. MasterCard receives copies of AOCs from various sources. This Compliant Service Provider List is provided solely for the convenience of MasterCard Customers and any Customer that relies upon or otherwise uses this Compliant Service Provider list does so at the Customer’s sole risk. While MasterCard endeavors to keep the list current as of the date set forth in the footer, MasterCard disclaims any and all warranties of any kind, including any warranty of accuracy or completeness or fitness for any particular purpose. MasterCard disclaims any and all liability of any nature relating to or arising in connection with the use of or reliance on the Compliant Service Provider List or any part thereof. Each MasterCard Customer is obligated to comply with MasterCard Rules and other Standards pertaining to use of a Service Provider. As a reminder, an AOC by a QSA provides a “snapshot” of security controls in place at a point in time. Service Provider Name Region AOC Date Assessor DESV 1&1 Internet SE (1&1, 1&1 ipayment, Europe 05/09/2016 Security Research & Consulting GmbH ipayment.de) 1Link (Guarantee) Limited SAMEA 11/17/2015 Trustwave 1Shoppingcart.com (Web.com Group, lnc.) US 04/13/2016 SecurityMetrics 1stPayGateWay, LLC US 05/27/2016 IBM Internet Security Systems (ISS) 2138617 Ontario Inc.
    [Show full text]
  • How Mpos Helps Food Trucks Keep up with Modern Customers
    FEBRUARY 2019 How mPOS Helps Food Trucks Keep Up With Modern Customers How mPOS solutions Fiserv to acquire First Data How mPOS helps drive food truck supermarkets compete (News and Trends) vendors’ businesses (Deep Dive) 7 (Feature Story) 11 16 mPOS Tracker™ © 2019 PYMNTS.com All Rights Reserved TABLEOFCONTENTS 03 07 11 What’s Inside Feature Story News and Trends Customers demand smooth cross- Nhon Ma, co-founder and co-owner The latest mPOS industry headlines channel experiences, providers of Belgian waffle company Zinneken’s, push mPOS solutions in cash-scarce and Frank Sacchetti, CEO of Frosty Ice societies and First Data will be Cream, discuss the mPOS features that acquired power their food truck operations 16 23 181 Deep Dive Scorecard About Faced with fierce eTailer competition, The results are in. See the top Information on PYMNTS.com supermarkets are turning to customer- scorers and a provider directory and Mobeewave facing scan-and-go-apps or equipping featuring 314 players in the space, employees with handheld devices to including four additions. make purchasing more convenient and win new business ACKNOWLEDGMENT The mPOS Tracker™ was done in collaboration with Mobeewave, and PYMNTS is grateful for the company’s support and insight. PYMNTS.com retains full editorial control over the findings presented, as well as the methodology and data analysis. mPOS Tracker™ © 2019 PYMNTS.com All Rights Reserved February 2019 | 2 WHAT’S INSIDE Whether in store or online, catering to modern consumers means providing them with a unified retail experience. Consumers want to smoothly transition from online shopping to browsing a physical retail store, and 56 percent say they would be more likely to patronize a store that offered them a shared cart across channels.
    [Show full text]
  • Is Payment Tokenization Ready for Primetime?
    Is Payment Tokenization Ready for Primetime? Perspectives from Industry Stakeholders on the Tokenization Landscape Marianne Crowe and Susan Pandy, Federal Reserve Bank of Boston David Lott, Federal Reserve Bank of Atlanta Steve Mott, BetterBuyDesign June 11, 2015 Marianne Crowe is Vice President and Susan Pandy is Director in the Payments Strategies Group at the Federal Reserve Bank of Boston. David Lott is a Payments Risk Expert in the Retail Payments Risk Forum at the Federal Reserve Bank of Atlanta. Steve Mott is the Principal of BetterBuyDesign. The views expressed in this paper are solely those of the authors and do not reflect official positions of the Federal Reserve Banks of Atlanta or Boston or the Federal Reserve System. Mention or display of a trademark, proprietary product or firm in this report does not constitute an endorsement or criticism by the Federal Reserve Bank of Boston or the Federal Reserve System and does not imply approval to the exclusion of other suitable products or firms. The authors would like to thank members of the MPIW and other industry stakeholders for their engagement and contributions to this report. Table of Contents I. Executive Summary ................................................................................................................. 3 II. Introduction .............................................................................................................................. 4 III. Overview of Tokenization ......................................................................................................
    [Show full text]
  • Mobile Payment
    Telecom & Media Viewpoint Mobile payment Is this the turning point? Mobile payment has been on the agenda of numerous players across industries for more than a decade. Now, with Apple Pay and Google Wallet launched and the markets equipping themselves, mobile payment may finally take off. Is this the turning point in developed markets? Mobile payment has taken off, but not in developed cashless societies early are still in a nascent stage. In Sweden, markets – until now for example, where cash payments decreased to 22% of total transactions, mobile payments still only represented 3% of Mobile payment has taken off on a global scale, accounting for transactions as of 2014. a total of 285 billion USD in 2014 and representing 7% of global A well-known success story in developed markets is the electronic transactions. Arthur D. Little expects these figures to Starbucks mobile payment app. The app was launched in 2011 continue growing at a fast pace, exceeding 800 billion USD and counted 12 million users in 2014, which the firm claimed by 2017. accounted for about 90% of US mobile payment transactions. Figure 1: Global m-payment value forecast [2013-17, bn USD] Other prominent examples are driven by Korea Telecom in South Korea and NTT DoCoMo in Japan. Nevertheless, success stories 823 in developed markets are mostly regionally bound and specific, such that they have not been replicated or extended on a global 605 scale. 426 Nonetheless, Arthur D. Little believes a turning point for mobile payment in developed markets is more likely than ever 285 188 before.
    [Show full text]
  • Financial Technology Sector Overview of Market Activity in the Financial Technology Sector William Blair & Company
    Quarterly Update Q1 2015 Financial Technology Sector Overview of Market Activity in the Financial Technology Sector William Blair & Company Financial Technology Sector – First Quarter 2015 Update M&A and capital markets activity remained strong during the first quarter of 2015, particularly in the United States. In fact, U.S. stock indices marked all-time highs during the quarter and deal-making activity continued its upward trajectory, propelled by improving confidence among consumers and corporate executives, low-cost credit, and record levels of cash. While market participants largely ignored the prospect of rising interest rates, a collapsing energy sector, global currency concerns, and continued economic uncertainty abroad, this could be an area of concern moving into the second quarter of 2015. One of the most prominent storylines within the financial technology sector in the first quarter was the escalating bets made on payments solutions by the likes of tech giants Apple, Google, and Samsung. The release of Apple Pay unilaterally raised the stakes across the industry and was a catalyst for a wave of high-profile announcements, including Samsung’s acquisition of LoopPay, Google’s acquisition of Softcard, and PayPal’s acquisition of Paydiant. Traditional payments providers are thus being further pressured to accelerate innovation and expand international reach, which has in turn refocused corporate strategies away from building domestic scale and vertical plays toward acquiring differentiated, earlier-stage, technology platforms with global capabilities. Global’s acquisition of Realex, Worldpay’s acquisition of SecureNet, and MasterCard’s acquisition of TNS’s gateway are recent examples of this trend, which we believe will be a significant driver of sector M&A activity going forward.
    [Show full text]
  • Ugo Bechis E-Payment & SEPA Advisor to UBI Banca Former EPC CWG Chair - CSG Co-Chair
    2016 The year of convergence of Market & Regulation Prepaid Summit Europe 2015 10.11.2015 - Milano Ugo Bechis e-Payment & SEPA Advisor to UBI Banca former EPC CWG Chair - CSG Co-Chair © 2010 Colt Telecom Group Limited. All rights reserved. 2016 - Market & Regulatory convergence The Retail commerce context & payment needs How the pre-paid impacts on new payment solutions Challenges , focus areas to be competitive EU Regulation - New degrees of freedom & opportunities Digital culture is more than tech innovation Ugo© Bechis2010 Colt Telecom Group Limited. All rights reserved. The (e)Commerce ecosystem - what Retailers want The new Retail model Convergence of in-Store and in-App Mobile as a way to attract / retain / sell (geo-location , offers , loyalty) Retailers goals : To close the sale, get paid ; no abandonment (30%) No friction : easy , quick , intuitive The “one button” trx (1 click to buy & pay , in-App) Retailers “mobile powered” sales process Mobile Paym Apps use friendy & “open” to payment/non-payment (eg: loyalty) , decupled Ugo©Bechis 2010 Colt Telecom Group Limited. All rights reserved. Mobile powered in-store/in-App convergence “In-APP” emulation of the in-store processes geo-localization , in-store to in-cloud , in-App emulation , e-Comm /e-Paym The “mobile powered” customer interaction Attract : geo-localization + beacons + sales incentives Retain : giving a in-store “enhanced” experience by emulating in-App the physical interaction Buy : Loyalty/Fidelity cards in-wallet , decupled Buy & Pay : user friendly Mobile Apps - “one click” trx Ugo© Bechis2010 Colt Telecom Group Limited. All rights reserved. Payment solutions : too much choice = no choice ... Ugo Bechis© 2010 Colt Telecom Group Limited.
    [Show full text]
  • Is Payment Tokenization Ready for Primetime?
    Is Payment Tokenization Ready for Primetime? Perspectives from Industry Stakeholders on the Tokenization Landscape Marianne Crowe and Susan Pandy, Federal Reserve Bank of Boston David Lott, Federal Reserve Bank of Atlanta Steve Mott, BetterBuyDesign June 11, 2015 Marianne Crowe is Vice President and Susan Pandy is Director in the Payments Strategies Group at the Federal Reserve Bank of Boston. David Lott is a Payments Risk Expert in the Retail Payments Risk Forum at the Federal Reserve Bank of Atlanta. Steve Mott is the Principal of BetterBuyDesign. The views expressed in this paper are solely those of the authors and do not reflect official positions of the Federal Reserve Banks of Atlanta or Boston or the Federal Reserve System. Mention or display of a trademark, proprietary product or firm in this report does not constitute an endorsement or criticism by the Federal Reserve Bank of Boston or the Federal Reserve System and does not imply approval to the exclusion of other suitable products or firms. The authors would like to thank members of the MPIW and other industry stakeholders for their engagement and contributions to this report. Table of Contents I. Executive Summary ................................................................................................................. 3 II. Introduction .............................................................................................................................. 4 III. Overview of Tokenization ......................................................................................................
    [Show full text]
  • What to Watch for When You Sign Your Next Deal
    CMT T V T A AGENT CONTRACTS 8IBUUPXBUDIGPSXIFOZPVTJHOZPVSOFYUEFBM C1_ISOApr14 1 3/19/2014 4:56:26 PM 044_ISOApr14 1 3/18/2014 7:47:41 PM !"# $$ %&!#'())#! #*!+&,- #$ (!2#!(!) *)3"#*!+ +.*,'(+ ()&+ *% ($#!&,- !*,)*'&#, *,+ *'3 (*&% !#$#)*% /(,(!*#! (!&(.*% *,+ 3*!-("*'0 %(!) ,(-!*(+ &'0(&,- 1)( #4,%#*+*"%( #,3%1 *((,) 2#! ,"# ,+ (*+) &)0 %(!) "1 7(14#!+ *%() &$(%&,( '&.&1 "1 -(, (!'3*, #$$(+ !#'())&,- %(!) (,+ *&%) *,+ 5*6() *((, #4,%#*+ %(!) *%(,+*! 4&3 *)0) *,+ $$#&,(,) &.( $(, *'3() 5 *3* #,%1 045_ISOApr14 2 3/18/2014 7:47:58 PM Inside 04.2014 Cover Story Burton C.J. rii r r l i li pli i l i i ri T A T N S G il rii i r r i ir r i r lri iri il ll rr A E T S AA T T A S I A T G A T O i r ii r r A i rr r ii A pi i r rp i r i ip T T S S T lpp r ir i r i ii A i li r ri ri i p ril r r r i ii In Every Issue E S r i r iri r A ir r pi r ri ir r pl r r r iri lp r ll r i llir ip l il i il ir ppr lli r r ir ri A pr p r pi ir r pri r l A i ISO&AGENT April 2014 002_ISOApr14 1 3/19/2014 11:17:58 AM 003_ISOMar14 2 2/24/2014 1:25:22 PM Online isoandagent.com Is Square Preparing Companies Dier For Public Oering? On Cloud Models March March r rprl l il i A ri prir ir pii il r il r p p r li i i pi TSYS Ups Investment In Central Payment eb.
    [Show full text]
  • Past MPC Companies @Pay LLC 123WIRING 1Sale 3Cinteractive 7
    Past MPC Companies @Pay LLC 123WIRING 1Sale 3Cinteractive 7 - Eleven AARP Abc Media Network ABnote Abrinix IT Consulting ACCEO Solutions Acceo Tender Retail Access One Inc Accu Search Acculynk ACI Worldwide, Inc. ACT Canada Active Activewave Parking ActPay AdGent Digital ADN ADS ADT Advanced Data Systems Affinion Group Affirmative Technologies, Inc African Communication Services Aite Group ÄKTA Alcatel-Lucent AlixPartners Allegiant Systems Alliance Data Allied Fiber Allstate Allstate Insurance AllthatSoft Alternet Systems, Inc. Amadeus Amalgamated Bank of Chicago Amazon Development Center Amazon.com, Inc. American Banker American Collection Systems, Inc. American Express American Network, Inc. AmeriMex Communications AMT Consumer Services AnchorFree Angola Payment Systems, SA ANPI Antares Computer Systems AnyWhere Commerce AP Technology Apac & Cala Apex Merchant Services, Inc AppGage, LLC Apriva Arbinet Arent Fox LLP Argentina Arrivalist Arroyo Consulting LLC Artinsoft Corp Arvidson Consulting Arxan Technologies Asemca Associates Inc Asemca Telecom Associates(Si Gimbel) AT & T At Home ATS Mobile Augmentum, Inc. Avaya Averon B2 Banco Popular Bank Innovations Bank News Bank of America Merchant Services Bankcard Services BanZoo Barclaycard Barclays Barcode Media Group, Inc Bernstien BerryReview Best Buy Bill 2 Pay Bill to Mobile Bill2Pay, Intuition Systems Inc. Billguard Bio Track Thc Blackboard Inc. Blackhawk Network Bluefin Payment Systems Bluesky BlueStar Inc BlueWave Communications BMO Braintree Bravo Tip or Pay Breakaway Communications Breaking Banks Brian Brands Bridelwood Consulting Business Channel Strategy Business Insider Business InSight Radio Show Business Solutions, ISR Business Technology Solutions cac ltd Cafe Caio Chicago Call Nonce Cambridge Merchant Capital Group Capgemini Capital Investment Capital One Card Payment Solutions Cardlytics CardPlus Payment Systems, LLC CARDPRINTING.US Casablanca Ventures Cashier Live Castle Technology CBIZ CBS Television CCS usa Celent Centene CENTRAL BANK OF TRINIDAD & TOBAGO Century Payments CEWE Stiftung & Co.
    [Show full text]
  • The Winning Mobile Wallet Solution
    Account Payments Customers POS ACH Credit Engagement Data Cards Experience NFC Sales Loyalty Debit Flexibility App THE WINNING MOBILE WALLET SOLUTION Achieving Success through Financial Institution and Retailer Interoperability CompanionPaper About “The Winning Mobile Wallet Solution” This white paper is the result of the collaborative and transparent efforts of the members of the Payments Innovation Alliance Mobile Wallet Team. The paper is divided into two parts: the white paper itself and this highly technical companion piece that provides the detailed explanations behind the conclusions in the main white paper. The paper covers the function and value of financial institution and retailer-branded domestic mobile wallets, explores the issues surrounding tender reciprocity between financial institutions and retailers, and discusses how ACH can be leveraged to empower mobile wallets. About the Payments Innovation Alliance Mobile Wallet Team The Mobile Wallet Team is an initiative of the Payments Innovation Alliance, designed to enable stakeholder companies and the broader mobile payments community to leverage an “open” acceptance platform that includes support for retailer- and bank- branded mobile wallets for electronic payments. Mobile Wallet Team members seek to provide historical perspective and thought leadership about the potential for mobile wallets and lead the industry and the marketplace through collaboration to address key topics and concerns related to advancing the security, value, adoption and interoperability of mobile wallets. About the Payments Innovation Alliance The Payments Innovation Alliance, a membership program of NACHA — The Electronic Payments Association®, brings together diverse, global stakeholders to support payments innovation, collaboration, and results through discussion, debate, education, networking, and special projects that support the ACH Network and the payments industry worldwide.
    [Show full text]
  • The Evolution of Digital and Mobile Wallets August 2016
    The Evolution of Digital and Mobile Wallets August 2016 The Evolution of Digital and Mobile Wallets AUGUST 2016 © 2016 Mahindra Comviva. All rights reserved. Reproduction of this report by any means is strictly prohibited. 1 The Evolution of Digital and Mobile Wallets August 2016 TABLE OF CONTENTS THE DIGITAL WALLET: INTRODUCTION .......................................................................................................... 3 DEFINING THE DIGITAL WALLET ................................................................................................. 4 DIGITAL WALLET DELIVERY TECHNOLOGIES ............................................................................... 5 ECONOMICS AND GROWTH POTENTIAL..................................................................................... 7 THE EVOLUTION OF DIGITAL WALLETS ........................................................................................................... 8 ONLINE ACCEPTANCE MODELS ................................................................................................... 8 REDUCING FRICTION: SIMPLE IS BETTER .................................................................................... 9 ACCEPTANCE OF MOBILE WALLETS .......................................................................................... 10 EVOLUTION OF THE MOBILE WALLET SPACE ........................................................................... 12 THE BLENDED DIGITAL/MOBILE WALLET .................................................................................. 13 REGIONAL
    [Show full text]