BlackBerry’s enterprise communications network has been shipping secure email for a decade. Now BlackBerry is using that infrastructure to secure NFC payment data for Canadian mobile carriers and banks.
To prove they’re innovators, banks can build on their relative strengths in social media and platform/data. But there are problems at the top.
T-Mobile is becoming the public face of a prepaid financial service that gives customers access to traditional banking features.
Online and, especially, in-store payments are likely to advance in 2014. Banks, retailers and other payment processors are all making strides to simplify their processes and to come front and center in consumers’ minds. Not only ease-of-use, but discounts, record-keeping, and other perks are being employed to lure customers to new payment services.
American Banker has an article that looks at new solutions in PayPal’s Innovation Center and explores the ways that eBay otherwise plans to create more of an in-store shopping experience. As technology blurs the line between online and instore shopping, online providers are establishing in-store beachheads much as in-store retailers had previously expanded online. Similarly, not only are retailers dabbling with digital payments, but banks such as Capital One and U.S. Bank are also embracing discount and merchandizing tie-ins to promote their payment products.
We are still in the early days of the new payment sweepstakes and the ultimate standards and winners are not year clear. But various types of marketing hooks are starting to emerge and evolutionary growth in the sector is quickening.
According to a report in NFC Times, France’s number-three mobile operator has effectively put its pioneering NFC program on hold, with top executives associated with the technology leaving the company.
Financial institutions are looking beyond FICO scores to Facebook, Twitter and other social media outlets to measure a borrower’s risk profile. That’s not always bad.
PayPal tried to revamp its developer platform this spring for the new mobile commerce reality, but it realized it wasn’t moving fast enough. It decided to buy Braintree, which already had sophisticated tools in place.
Capital One says it has the data it needs and is withdrawing from Isis, the mobile carriers’ NFC-based mobile payments effort. If banks are losing faith in Isis, that’s a bad sign for its future prospects.
Sweden’s iZettle is now at Square’s doorstep thanks to help from Banco Santander. The company has updated its credit card reader for the North American market. Could a push into the U.S. be far behind?
iZettle will start offering its credit card reader to its U.K. banking customers. That gives iZettle another key distribution point as it waits for Square and PayPal to challenge it in Europe.