A process called “tender steering” is new to most retailers. It means that a retailer can provide incentives to customers to use a particular type of card to pay. This method could give retailers the power to drive interchange rates down by driving customers to some types of cards and away from others. You might … Continue reading Will Retailers Use “Tender Steering” to Control Interchange Fees?
The first pictures of the Isis mobile wallet are probably many months away from being released to the public. No, the image on the left is neither from Isis nor endorsed by Isis, but it has merit based on recent public statements from the company. Last week, two executives on the Isis management team discussed … Continue reading Combining Payments and Loyalty Programs
PayPal’s announcement yesterday rolls out micropayments (transactions under $12) for online purchases, and further improves their position for a large stake in the mobile payments arena. But how would they leverage this micropayment capability at a brick-and-mortar store? One possibility is the ‘do-it-yourself’ approach, as shown in the diagram. The multi-billion dollar system that supports … Continue reading PayPal Rolls Out Micropayments- Is Brick & Mortar Next?
Starting today, my wallet will forever stay in my pocket at Starbucks. That doesn’t mean I’m going to stop buying Starbucks coffee; it means that I can finally feed my caffeine addiction using only my SmartPhone. When Starbucks Coffee announced yesterday that over 6,800 of its locations would accept mobile payments, there was a significant … Continue reading Starbucks Mobile Payments
It is called a “Format War.” Two or more companies with different products compete for your attention. Of course, as a consumer, you get to choose the product you want. If you don’t like it, certainly you are free to switch to another product. However, since companies know this, they can make it incredibly cumbersome … Continue reading Will Mobile Payments Become a Format War?
A torrent of advertising and promotional marketing is heading your way to try to get you to use new services on your SmartPhone at retail stores. Perhaps you have already seen some, or signed up for some. At stake is the future of the credit card system that moves over $11 Trillion per year from … Continue reading The SmartPhone Wallet is Now Available