Value creation in the payment industry used to come from the ability for all players to collect transaction fees. The fee paid on a given payment transaction by the merchant is split between the different stakeholders: acquirer, processor or processors, issuer, insurances and payment scheme.
For industry observers, the world of payment used to be quite simple. MasterCard and Visa were exploring innovation, supporting pilots, then pushing new concepts through their product offer and standardization, and financial institutions were adopting these evolutions.
After the internet revolution, everyone is now convinced the next revolution in our lives will be the extensive arrival of robots. Some analysts anticipate that, by 2037, just twenty years from now, 47% of the current jobs will have been taken by robots.
Users of Gmail on the web and on Android in the US can now send money to a friend just by sending an email with “money attached” (cf. Smart Insights Weekly #17-12). With this move Google is trying to gain a share in the already crowded peer-to-peer mobile payment market.
Market Intelligence has only been popularized for around a decade, but it includes good practices that have always been part of the corporate culture of large organizations. Market Intelligence consists in paying attention to any opportunity to gather information about the company’s environment, to protect one’s information and, at the same time, to resist intrusion or destabilization attempts by opponents.
Wikileaks has just released a new series of documents called “Year Zero” that demonstrate a new extent of spying techniques. According to these documents, the CIA has deployed a variety of technologies to spy on individuals.
Now that the Mobile World Congress is over, it is time to look back and identify this year megatrends: besides IoT, mobile payments have never been so ubiquitous. The concept of mobile payment is undoubtedly finally going mainstream with not only Visa and MasterCard, but also financial institutions such as Citi or ABN Amro exhibiting among mobile technology companies.
The MWC makes all of us to overwhelmed by acronyms. Every year, there are new acronyms, which seem to be known and understood only by few people among the congress participants.
Everyone who has any interest in the telecoms industry is now heading to Barcelona for the GSMA yearly get together. The constant is that we will have too much wine and tapas, along with jamon y queso…. The change is in the content of the exhibition itself: the advent of the Internet of Things has transformed the Mobile World Congress into an International Auto Show.
Deloitte just published its yearly TMT – Technology, Media and Telecommunications - predictions. The most striking thing is that most of the topics covered in these predictions directly relate to the Secure Transactions industry and to what we write about on a regular basis.