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Copyrighted Material Index Abraham, Cherian, 32 B2B payments, 196 Aceto, Peter, 9–10, 156–159 consumer payments, 196–198 Affi rm, 5 online micropayments, 200–201 Age of Context (Scoble & Israel), 177–178 as payment rails, 195–196 Al-Bassam, Kareem, 17, 112 protocol, improving, 198–200 Alipay, 31 wallets, 201 Amazon, 5 usage, 186–190 American Express, 8, 61, 150 creating and processing, 188–190 Andreessen, Marc, 13 digital push payments, 190 App stores for banks, 133–139 BitWall, 201 Apple Bluetooth, low-energy, 97–98 EasyPay, 98–100 Braintree (now PayPal), 7, 38, 39–40 iBeacon, 97, 98–100 and Simple, deal between, 39–40 low-energy Bluetooth, 97–98 Bruene, Jim, 21–22, 34–35, 136, 139 Passbook, 32–35, 100 Business models, enduring, 143–176 Application programming interfaces (APIs) for bank partnering, 156 online and mobile commerce, 122–123 future of banking, venture capitalist Asia, social banking in, 70–71 insight on, 164–167 ING DIRECT Canada, 156–159 BBVA. See Simple innovation ecosystem, investing in, 168–171 Big data, as driver of innovation, 4–5, MoneyGram, 152–155 115–141 new era in banking and fi nancial services, and open platforms, 115–141 159–164 app stores for banks, 133–139 competing, 160–162 application programming interfaces imperatives to partner for innovation, (APIs) for onlinehttp://www.pbookshop.com and mobile 162–164 commerce, 122–123 next 50 years, 172–174 coping strategies for banks, 123–125 digital, 173 PayPal’s open platform, 125–133 platform and identity friendly, 174 platform services, rise of, 121–122 relationship management, 173–174 Bitcoin, 180–181, 183–201, 204–208 opportunities for innovation, the capitalization COPYRIGHTEDconventions, 184–186 “MATERIALunderbanked” and, 150–151 counterfeiting, 190–191 PayNearMe, 155–156 programmable money, enabling, platform-relationship-utility, 174–175 190–191 prepaid, 144–150 ecosystem, completing, 191 technology as enabler and partner, exchanges, 192–195 171–172 wallets, 193–195 history of, 184 Camera, mobile, 29–30 use cases in payments, 195–201 Card.com, 148 213 DDNbind 213 26 June 2014 5:30 PM 214 INDEX Casares, Wences, 181 Google 107–108 Chirp, 30 LifeLock, 108–109 Cisco Customer Experience Report, 116 PayPal, 109–110 Clinkle, 30 Square, 113 Cloud, 3–4, 28 retailers, 111–113 infl uence on innovation, 3–4 shopping tools, 104 and tokenization, 28 tickets and passes, 105–106 Cohen, Stessa, 3 Discover card, 32, 33 CoinBase, 201 Dodd-Frank Wall Street Reform and CoinX, 194 Consumer Protection Act, 7, 45 Commonwealth Bank of Australia, 70 Donahoe, John, 1 Connected fi nancial commerce, 89–114 Dorsey, Jack, 16, 89 digital wallet, 102–113 Downs, Paul, 21 carriers, 110–111 Drucker, Peter, 143 coupons, 104 DSK Bank (Bulgaria), 62 loyalty and prepaid, 104–105 Dunlap, Scott, 92 personal fi nancial management, Dunn and Bradstreet (D&B), 120 103–104 Durbin Amendment, 7, 45 providers of, 106–110, 113 Dwolla, 123, 125 retailers, 111–113 shopping tools, 104 EasyPay, 98–100 tickets and passes, 105–106 eBay entrepreneurs, developers, and fi nancial Now application, 37–38 services, 95–96 Red Laser, 104 future of, 113 Emerging markets, mobile models for, 47–51 Google Glass for fi nances, 101–102 Erste Bank (Austria), 70 iBeacon and EasyPay, 98–100 Europe, social banking in, 70–71 ID context banking, 96–97 “local” digital wallet, 91 Facebook, 58–59, 120 low-energy Bluetooth, hardware, and Fast Identity Online (FIDO), 19 future of commerce, 97–98 Fidor Bank (Germany), 61, 70, 71 new retail experience, 91–92 Financial Crimes Enforcement Network PayPal’s iBeacon, 100 (FINCEN), 8 Retail 2.0 and its effect on payments, 93–95 First National Bank of South Africa (FNB), Conners, Eric, 65 137–138 Consumer Financial Protectionhttp://www.pbookshop.com Bureau, 7 First Trade Union Bank, 44 Coupons.com, 104 Foursquare, 91, 92, 94, 97, 120 Credit Agricole, 123, 134–136, 139 Gamifi cation, 62 Danske Bank (Denmark), 61 Gates, Bill, 55 DenizBank (Turkey), 61, 70 Gigya, 71, 72 Digital technology, impact on banking, Gilchrist, Sean, 4, 96–97 58–60 Google Glass for fi nances, 101–102 Digital wallet, 10, 91, 102–113 Google Wallet, 32, 33, 107–108 carriers, 110–111 Gore, Al, 177 coupons, 104 Grow Financial credit union, 62 “local,” 91 loyalty and prepaid, 104–105 Harris, Matt, 146–150 personal fi nancial management, 103–104 Hiltz, Neil, 58–59 providers of, 106–110, 113 Host card emulation, 31–32 DDNbind 214 26 June 2014 5:30 PM Index 215 iBeacon, 97, 98–100 intro to, 180–181 ING DIRECT Canada, 14, 156–159 moving ahead with, 206–208 Innovating through scarcity, 1–12 reasons for, 181–182 big data, as driver of innovation, 4–5 Ripple, 201–202 cloud, infl uence of, 3–4 use cases in banking, 202–206 competitors, 6 automating transaction policies, payment revenue streams, new, 8–9 205–206 reconciling innovation and regulation, building trust, 204–205 6–8 interbank settlement, 203 retailing, learning from, 5 international remittance rails, 202–203 skill sets, new, 9 mBank (Poland), 62, 70 smartphones, infl uence of, 4 McKelvey, Jim, 21 Innovation ecosystem, investing in, 168–171 Merchant Customer Exchange (MCX), Instabank, 65–66 112–113 ISIS, 111 Microphone, mobile, 30–31 iTunes, 98 Mitek, 29–30 Mobile, 13–54. See also Connected fi nancial Jones, Russ, 111 commerce and changing consumer behavior, 15–16 Kabbage, 126–127 emerging markets, mobile models for, Kalanick, Travis, 6 47–51 King, Brett, 67–69, 90, 120 LevelUp, 43–45 Kithulegoda, Charaka, 105, 156–159, 172 “mobile fi rst” philosophy, 51–52 multichannel commerce, 17–36 Laplanche, Renaud, 75–79 Apple’s Passbook, 32–35 Larriviere, Bernard, 136 apps, Lemon Wallet. See LifeLock camera, 29–30 Lending Club, 75–80 microphone, 30–31 Levchin, Max, 5 NFC’s rebound, 31–32 LevelUp, 43–45 PayPal and Square, learning from, Liemer, Brad, 140–141 19–27 LifeLock, 108–109 tokenization, 27–29 Location-based services. See Connected QR code, 40–41 fi nancial commerce Starbucks, learning from, 41–43 Luminous, 137–138 tablet banking, 45–47 http://www.pbookshop.com“top of wallet” to “top of mobile,” M-Pesa, 6, 8, 48–50 38–40 Malka, Meyer “Micky,” 80–85 Braintree and Simple, deal between, Matchi, 138 39–40 Math-based currencies, 177–209 Uber-ization of mobile, 36–38 Age of Context, entering, 177–180 Money, Real Quick: The Story of M-PESA Bitcoin, 183–201 (Omwansa et al.), 48, 49 capitalization conventions, 184–186 MoneyGram, 27, 152–155 counterfeiting, 190–191 Moven, 9, 67–69 ecosystem, completing, 191 history of, 184 Narian, Aman, 14 use cases in payments, 195–201 Near fi eld communications (NFC), 31–32 usage, 186–190 characteristics, 182–183 Ochs, Susan, 56 digital currencies, history of, 182 OpenTable, 19, 91 DDNbind 215 26 June 2014 5:30 PM 216 INDEX Passbook (Apple), 32–35, 100 message to banks, 85–86 Paydiant, 42 Moven, 67–69 Payment revenue streams, new, 8–9 peer-to-peer lending, 73–75 PayNearMe, 155–156 partnerships, 74–75 PayPal, 1–2, 6, 19–27, 103, 109–110, personal fi nancial relationship mapping, 125–133 63–65 iBeacon, 100 social banking and emergence of Bitcoin, mobile learning from, 19–27 investor’s perspective on, open platform, 125–133 80–85 three-pronged approach to point social media experiences in banking, of sale, 110 60 –61 PayPal X, 1 Square Peer-to-peer lending, 73–75 learning from, 19–27 partnerships, 74–75 Square Cash, 23 Personal fi nancial relationship mapping, Square Wallet mobile application, 21, 113 63–65 Stalder, Dana, 164–167 Platform services, rise of, 121–122 Steencamp, Paul, 51 Prepaid model, 144–150 Stockpile, 151 Strange, Michael, 168–171 QR code, 40–41, 43 Stripe, 123, 125 Radius, 116–117 Tablet banking, 45–47 Regulation, balancing with innovation, Tack, Mark, 102 6–8 Tandem mobile app, 63–65 Ripple, 181, 201–202 Tesco, 29 Rometty, Ginni, 115 Tesla, 6 Texas Roadhouse, 34 Safeway Fast Forward program, 112 Thompson, Scott, 125–133 Schmidt, Eric, 13 Trezor, 194 Schulte, John, 26 Twitter, 61 Scoble, Robert, 177–178 “Showrooming,” 14, 91 Uber, 6, 36–37 Simple (now BBVA), 7, 39–40 “Underbanked” consumers, 150–151 and Braintree, deal between, 39–40 Venmo, 67 Skill sets, new, 9 http://www.pbookshop.comTouch, 39 Smartphones, 4. See also Mobile Voice control technology, 30–31 infl uence on innovation, 4 Social and fi nancial services, 55–88 Way2ride, 30 capitalizing on, 65–67 “Webrooming,” 91 digital technology, impact on banking, Wirecard, 8 58–60 in Europe and Asia, 70–71 Yelp, 91, 120 gamifi cation, 62 Yodlee, 63–65, 139 Lending Club, 75–80 Tandem mobile app, 63–65 login, sharing, and top of wallet, 71–72 Zappos, 57 DDNbind 216 26 June 2014 5:30 PM.
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