Over the last 6-12 months Mapa have seen a marked increase in news, on-going discussions and events related to mobile payments. There is no doubt that this is very much a hot topic; building on the increasing importance and use of mobile banking.
As a result it is timely for us to conduct our first ever report solely concentrated on mobile payments, point-of-sale initiatives in particular.
As part of on-going monitoring of developments, we have been inundated with stats, predictions and comments about the past, present and the future. We have therefore included a selection of published information that will provide the reader with additional valuable insight.
The lion’s share of the report consists of a deep dive where we put the spotlight on 10 real world examples. For all examples we include quick facts, business cases, our commentary and analysis, and screenshots, as well as statistics and other insight we have obtained. Services covered include:
- Kaching by Commonwealth Bank (AUS)
- TouchPay by NatWest (UK)
- KIX by BNP Paribas (FR)
- SEQR by Seamless (SE)
- Mon Panier by Carrefour (FR)
- PayPal inSTORE (UK)
- EasyPay by Apple
- Square Wallet (USA)
- Google Wallet
- Isis Wallet (USA)
The selection has been made after extensive research of financial services companies, telecom providers and other companies that are active in the mobile payments space (POS only) across 12 countries across the world.
Throughout this research project a number of key themes have emerged such as:
- Many key players around the world are experimenting with alternative payment trials, with no dominant approach evident.
- NFC payments are on the radar, with many banks experimenting with iCarte cases for iOS devices. However, as all the differing approaches adopted show, mobile payments are not currently just NFC payments.
- Telecoms providers have partnered with banks or formed their own sole or joint ventures.
- The involvement of many stakeholders can in part explain some past failures and the fragmentation of the market.
- Some of the existing mobile payment solutions provide the ‘wow’ factor which will help drive early adoption.
- Add-on services provide a huge revenue opportunity for mobile payments providers and added value for customers.
Building on to the third point above, one of the most recent additions is the launch of the Isis Wallet in the US. Isis is a joint-venture between network operators AT&T, T-Mobile and Verizon founded in November 2010, and is now live in Salt Lake City and Utah. They have managed to strike deals with a strong set of partners including four major credit card companies, six handset manufacturers and four large POS system providers.
At the moment only selected cards from American Express, Capital One and Chase can be added to the Wallet. Alternatively customers can use an Isis Cash Card which is, as an incentive, preloaded with $10 when the service is activated and another $15 will be added when the user makes the card reloadable. The wallet solution stores both payment and loyalty cards as well as offers, deals and merchant promotions. Payments are made through the use of NFC technology – users tap their smartphones to pay and the app is protected with a 4 digit PIN.
As seen in the picture above, users choose a preferred payment (top row) and combine it with a loyalty card (bottom row) if applicable. This is certainly an interesting one to follow and one that we will continue to watch (launched in October 2012)!
Buyers of this report will gain unrivalled insight to a wide range of mobile payments (POS only) initiatives. This will feed into internal planning and decision making processes, providing both creative inspiration as well as concrete material to strengthen business cases.