Archive for the ‘Payments’ Category

  • Has Amazon already won the mobile payments game?

    on Aug 21, 14 • in Beyond Billing, News, NFC, Payments • with No Comments

    Has Amazon already won the mobile payments game?

    Small businesses and “mom and pop” shops have always gotten the short end of the stick when it comes to credit card payments. Already on thin margins, they are forced by the credit card companies to fork over a percentage of each card swipe and follow a dizzying fee schedule that can easily add up to a significant amount taken out of their bottom line. Then along came e-commerce payment companies that promised to simplify credit card processing for even the smallest businesses and bring them into the digital age. Square paved the way along

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  • Drop me a message when I can build my bank account

    on Aug 20, 14 • in Beyond Billing, News, Payments • with No Comments

    Drop me a message when I can build my bank account

    I was thinking the other day about where retail banking should go next. However hard you look for the account package that suits your needs, you end up choosing accounts that have been designed by people who think they understand your needs – but of course do not. So why don’t banks let you build your own account package? You choose the features you want and see what the monthly cost is. You flex the features to find the right balance between features and cost. And of course you do all this via the bank’s

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  • Millennials help boost online bill payment

    on Aug 13, 14 • in Beyond Billing, News, Payments • with No Comments

    Millennials help boost online bill payment

    We know that the younger generation of adults, whether you call them Generation Y or Millennials, is the force driving a lot of changes in technology. Whether it’s social media, texts replacing email or watching television on a tablet, this is the group that seems to be driving things forward. And that extends to banking, as Alex Leslie delved into here a few months ago. We also learned that this generation is more receptive to the possibilities of mobility, including banking and payments, as we saw in our recent discussion of branchless banking. That trend

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  • What can we expect from the challenger banks?

    on Jul 30, 14 • in Beyond Billing, Payments • with No Comments

    What can we expect from the challenger banks?

    There’s been a lot of discussion recently in the UK about challenger banks. But what exactly constitutes a challenger bank? In the consumer space, for me it’s a bank that aims to take customers from the big names by doing something different around service delivery. That could be a digital focus enabling customers to do more via apps or a more personal focus with bank staff empowered to take decisions and resolve customer queries. So who are the key challenger banks aiming to change retail banking in the UK? Atom – Little has been mentioned

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  • What will it take for mobile payments to take off?

    on Jul 28, 14 • in News, Payments • with No Comments

    What will it take for mobile payments to take off?

    A frequent theme here at BillingViews is the slow uptake of mobile payment adoption and the disappointing sighs that go along with it. The subject has come up time and time again but usually in the context of who’s coming out with a new payment scheme and why it’s better and different than anyone else’s. But as keen industry watchers know, all the bells and whistles in the world won’t make actual customers download it and start using it. So what will it take? PayPal for one is hoping that exclusive perks will do the trick

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  • An interesting email about ISIS – and the future of mobile money

    on Jul 24, 14 • in Beyond Billing, NFC, Payments • with No Comments

    An interesting email about ISIS – and the future of mobile money

    You know how, in most email boxes, you can just see the title of the email and the first line of the text? Well, imagine how difficult it was for us not to grin with sheer glee when we saw an email from our friends at Mobile Payments Today. The title was ‘ISIS needs a phoenix-like reincarnation’ and then ‘if you are having trouble with this message…’ We had no trouble with the message. ISIS, the ‘innovative’ mobile wallet that was designed by a committee of vast telecom conglomerates and payment providers who are incapable

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  • Starbucks Mobile Checkout – frictionless?

    on Jul 16, 14 • in Beyond Billing, News, NFC, Payments • with No Comments

    Starbucks Mobile Checkout – frictionless?

    Jonathan Jensen recently highlighted the theme of friction in payments and the importance of focusing on the customer experience.  I couldn’t agree more with his sentiments.  I began to consider my own experience with mobile payments.  Over the past few years, I’ve tried plenty of mobile wallets, payment apps and peer-to-peer (P2P) payment solutions.  I’ve even gotten excited about a few.  But, alas, the only mobile payment app I use consistently is the Starbucks app for my daily brew.  And, I would argue I’m not alone here.   Starbucks is an industry leader in both usage

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  • FTC to T-Mobile: Cram this!

    on Jul 10, 14 • in Billing, News, Payments • with No Comments

    FTC to T-Mobile: Cram this!

    While T-Mobile has been busy becoming the ‘Uncarrier,’ it’s been leading a double life. The carrier that’s been going out of its way to show it’s not your typical carrier – including eliminating overage fees and not charging streaming music against data plans – has been accused by the Federal Trade Commission (FTC) of cramming. And this isn’t just a case of a few errant bills that contained billing mistakes; the FTC claims that T-Mobile charged customers for third-party ‘premium’ SMS services that in many cases were never authorized by customers in the first place

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  • Friction and frustration in payments

    on Jul 9, 14 • in News, Payments • with No Comments

    Friction and frustration in payments

    A recurrent payments theme for me is around payments being an enabler, not a barrier, to the consumption of goods and services. Unfortunately all too often it is a barrier and this results in consumer frustration and even worse, transaction abandonment, especially online. But payments friction is much deeper and extends right through the way banks and others operate. Over the past few weeks I’ve been noting these areas of friction and frustration on Twitter as I’ve experienced them. Whilst they vary in importance they do highlight how frequently the consumer experience is ignored when

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  • Omnichannel Banking:  An Eye Towards the Future

    on Jun 24, 14 • in Beyond Billing, Payments • with No Comments

    Omnichannel Banking:  An Eye Towards the Future

    Banks are quickly moving their focus away from traditional methods of sales and servicing.   Money is no longer being spent building branches, but rather on closing their doors.  With the typical customer no longer needing to visit their local bank to cash their payroll check, this makes plenty of sense. Consumers are visiting brick and mortar branches 85% less than they did just 20 years ago.  Financial institutions are following suit and closing branches at a higher rate than ever before.  In 2013, US banks closed nearly 1500 branches (from a total of 96,000,

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