PayX Industry News 2012
Is it “The End of Cards” or “The Future of Cards”?
It is very easy to say that the Alternative Payments Methods; Mobile, Square, iZettle, e-Commerce, Cloud Wallets etc., are approaching mass and will “replace” cards in the future. Appropriate historical analogies could be: “Cards are the end of Cash” – a statement recurring for about 40 years, or even the “Chip is the end of Magnetic Stripe” – recurring statement by some for over 20 years now. The question surely is not whether there is a finite end to cards, but rather, what is the timing for any alternatives to become the default or dominant player?
Mobile Commerce: Mass Usage Around the Corner?
This year’s iconic Mobile World Congress event in Barcelona, not only had the usual device releases but more significantly it had for the first time a wave of major mobile payments announcements. Probably the most active organisation was Visa, announcing key deals with Orange, Intel and Vodafone, each for very different purposes; Orange for person-2-person (p2p) in the developing world, Intel to develop chips certified for Visa payWave, and Vodafone to enable NFC acceptance in 30 countries.
True Partnerships Gaining Momentum in the Payments Industry
Recent news reinforces that the Payments Industry is continuing towards a full blown disruption change cycle. Within this cycle massive opportunities abound, rule books are rewritten and unfortunately a trail of casualties are left by those who didn’t adapt quickly.
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