Apple Pay & The New Environment for Mobile Payment Apps

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Apple Pay & The New Environment for Mobile Payment Apps"

Transcription

1 Apple Pay & The New Environment for Mobile Payment Apps November 3, 2014 Greg Weed

2 Events, Timing & Methodology I SEPT 9 Apple Press Conference SEPT CPM Data Collection SEPT 25 iphone6 In-Stores Consumer Payments Monitor Annual Survey (n=4,200) HH Financial Decision Makers Answering for HH or Self Online Survey Sample Weighted to Gov t Data Holistic Household Viewpoints 4 OCT 20 Apple Pay Live November 3 October 2015 EMV Upcoming Tracking Waves 5 Q %-? % -??

3 7 Key Points 1. Massive exposure and high interest levels in iphone 6 and Apple Pay 39% positive PI for iphone6 43% initial positive reaction to Apple Pay 36% positive toward Apple Watch 2. Security and privacy message solves a problem for many Fingerprint and data scrub leading features followed tokenization 3. Beachhead positioning left demand for retailer rewards unaddressed Spectrum of consumer needs with regards to loyalty and payments Delivery of issuer rewards a strong positive (80% spend on rewards cards) 4. In-store apps need to deliver real-time data to the consumer 5. Huge gap between installation and usage (nearly 50%) 6. Consumer hurdles to usage Lingering NFC concerns for many Nearby locations Customer service and technical support importance of issuer leadership Transaction problems 7. The consumer need for choice and control is paramount and at risk 3

4 Today s Focus on Smartphone Owners 65% of households now report owning a smartphone with an average of two phones owned per household. Smartphone Average of 2.1 SP s Owned 44% 55% 65% 69 Million Smartphone HHs + 11 Million HHs vs. Year Ago Pad or Tablet % 34% 41% 87% Millennial HHs Smartphone or Pad/Tablet 50% 63% 71% 4

5 Current OS Battle Lines A forceful Android response to Apple Pay could have enormous market impact. What kind of smartphone do you personally use? ( If you use more than one type, please select the one you use most often ) September 2014 Results August % 56% 53% 47% 43% 39% 40% 39% 37% 38% Total Millennials Generation X Baby Boomers Greatest Generation Android Apple Other or Don't Know 5

6 Smartphones for Financial Transactions Consumers more comfortable using smartphones for financial transactions driven by usage settings more private than mpos. Past-Year Use of Smartphones for Financial Transactions Make a Purchase Pay a Bill Transfer Funds 74% 49% 59% 58% 37% 40% 27% 22% 23% 9% Total Millennials Generation X Baby Boomers Greatest Generation

7 Smartphones for In-Store Purchases The user base for smartphone mpos transactions grew slightly in 2014 compared to year ago (+2 Mil SP HHs). Estimated 2014 user base for wallet payment apps is 9 million households Have you used a smartphone app to make an in-store purchase? 20% 13% 15% 18% 7% 11% 12% 3% 6% 3% Total Millennials Generation X Baby Boomers Greatest Generation

8 Enter Apple Splash & Power 24% 10% 17% 18 Mil HHs Followed Sept 9 Extremely or Very Closely 23% 10% 26 Mil HHs 15% 24% Intend to Purchase iphone6 16 Mil 9 Mil 22% 27% 28% Other 1 Mil As Measured Sept Among Smartphone Households 10 Mil Right Away 16 Mil Contract Exp. 8

9 Initial Consumer Reaction Unprecedented media exposure huge consumer response. Just because it s Apple or.. All Smartphone HHs Users Users Very Positive Somewhat Positive Neutral Negative More Info 23% 21% 30% 11% 15% 30 Mil HHs 30% 26% 26% 6% 12% 15 Mil HHs 20% 18% 32% 15% 16% 13 Mil HHs? As Measured Sept Among Smartphone Households 9

10 Apple Pay Changed the Conversation Transform Security From a Concern to a Consumer End-Benefit. Personal Privacy Over Personalized Retailer Rewards. NFC + Fingerprint + Secure Element + Tokenized Privacy (+Issuer Rewards) Consumers Industry One of Several Barriers for Many Post-Target, Concerted Industry Focus on Security and EMV Consensus Less Secure than Magnetic Stripe Prevalent Idea that Mobile App Value Prop Depends on Retailer Rewards / Shopping Experience Early Wallet Adopters Likely to be NFC Card Users Merchants Low Consumer Demand Security Messaging not in the Forefront Barriers Dissolve as Compelling End Benefit Evolves 10

11 Why Consumers Have Been Cautious How much of a problem is each in your willingness to use a mobile payment app for in-store purchases? 48% Used SP Payment App Primary Credit or Debit Card is NFC 17% All SP HHs Top 3 Box Percentages Not a Problem Major Problem Highest Problem Rating 65% Hacker gets my personal information 61% Transaction hacked while making a purchase 60% Held liable for fraud 57% Lost or stolen phone 57% Giving merchants access to personal information Lowest Problem Rating 40% 46% Phone company giving personal information to gov t Tapping my phone against a merchant terminal 11

12 Security Conversation Front & Center In the consumer world, confidence in payments security is a recovery job not a matter of routine reassurance. Select the features that would most increase your likelihood of using a mobile wallet payments app? Fingerprint ID to open the app Scrub phone & restore on a new phone 57% 57% PIN-protection with lock-out feature 49% Text and notification Tokenization technology* 42% 41% Facial recognition Voice recognition 25% 30% * Tokenization technology that does not transmit your account information but creates an encrypted code to authorize each transactions 12

13 Security Breaches Adding Momentum 78% of smartphone owners feel that security breaches have accelerated and 43% have had a credit or debit card account compromised in some way. How have security breaches changed your attitudes and behavior? Top 3 Box Agreement on a 10-Point Scale 37% 39% 45% 51% Target 81% Aware Home Depot 59% icloud 28% ebay 20% 55% More reluctant to enroll in electronic payment services Less comfortable with personalized suggestions from merchants Less comfortable with location services More worried about giving personal data to merchants Changed password 13

14 Still The Power of Retailer Rewards Despite privacy concerns regarding retailers, the demand is substantial for retailer-driven apps that improve the shopping experience and deliver value. Overall, a suite of app solutions are needed to address spectrum of consumer needs. Which best describes the type of mobile wallet app(s) you would most like to use? 19% Payment-Only App (Issuer Rewards) 32% Shopping-Only App 28% 20% Shopping + Payment App More Than One Type of App Consumer Opt-In Controls 14

15 And Real-Time Consumer Control Consumers are looking for features that put them in control of the shopping and/or payment experience in real time before, during, after the purchase. Please select the must have features that you would like to have on your smartphone payment app? 57% View balance before and after using a debit card 56% View discounts and deals while at a specific store Dynamic application of issuer rewards 50% 47% Apply credit card rewards at the time of purchase Check in-store product pricing and availability Default Card / Default Wallet? 45% 45% Many payment and loyalty cards so you can choose Get cash back from merchant terminals 42% View credit availability before and after using a credit card 33% Order ahead and stores or restaurants to reduce waiting time 15

16 The Untapped Usage Reservoir The challenge ahead for Apple Pay as it was for incumbents is to convert app-installed prospects to actual users. In addition to the 9 million smartphone households using a payment app, an additional 8 million users would be added if the installed base were converted based on estimates from the pre-apple Pay environment. Ready-to use: have phone with native purchase app or downloaded/installed a mobile payments app to the phone. 43% 24% 28% 26% 23% 13% 20% 15% 10% 8% 7% 3% 15% 12% Total Millennials Generation X Baby Boomers Greatest Generation App Ready to Use App Used Affluent HHI $125K+ or IA $250K+ Non-Affluent 16

17 Known Executional Hurdles Still in Play Incumbents experienced consumer friction and so will Apple Pay. Ease of Set-up 61% Very Easy 35% Somewhat Easy 4% Difficult Who s in Charge? Among Ready-to-Use Non-Users Accepted in Enough Places 81% Yes 19% No View Nearby Locations for Apple Pay? Contacted Still Don t Know How to Use Contact Customer Service or Technical Support 36% No 64% Yes 23% % Users Experiencing Transaction Problems 13% 25% Some 62% None Frequent 77% 17

18 Driving a Change in Payment Behavior How will customer experience and service expectations be managed now and over the longer-term? How will consumers be engaged? In-store selling experience Ease of obtaining the number Is there a number on the digital card? Apple Pay Set-Up Barriers for Some Base: iphone Users Have Payment Method Linked to itunes 62% Call-in experience Use Passbook 29% Have Both 24% Apple Pay Has to be User Installed In-App 800 Number or Chat? 18

19 Breach Notification Consumers look to banks and card issuers to notify them in the event of a security breach. Lower Confidence If a security breach occurs, are you confident that you will be notified by.. Higher Confidence 73% 80% 40% 47% Retailer Technology Company Credit Card Issuer Bank 19

20 Questions & Comments Accelerated Performance Through Research Thank You!

Apple Pay & The New Environment for Mobile Payment Apps

Apple Pay & The New Environment for Mobile Payment Apps Apple Pay & The New Environment for Mobile Payment Apps Events, Timing & Methodology I SEPT 9 Apple Press Conference SEPT 18 2104 CPM Data Collection SEPT 25 iphone6 In-Stores Consumer Payments Monitor

More information

Emerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER

Emerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER Emerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER SHAZAM, Senior Vice President Agenda The Ugly Fraud The Bad EMV? The Good Tokenization and Other Emerging Payment Options

More information

Apple Pay Questions & Answers

Apple Pay Questions & Answers Apple Pay Questions & Answers Member FDIC Welcome Questions and Answers About Apple Pay Thomaston Savings Bank is pleased to announce that its customers may now use Apple Pay to make purchases with their

More information

Apple Pay FREQUENTLY ASKED QUESTIONS

Apple Pay FREQUENTLY ASKED QUESTIONS Apple Pay FREQUENTLY ASKED QUESTIONS At Park Bank, we want to make it easy and secure for you to use your credit card to make payments in stores and online. That s why we re pleased to offer Apple Pay

More information

The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses. National Computer Corporation www.nccusa.com

The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses. National Computer Corporation www.nccusa.com The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses Making the customer payment process convenient,

More information

How Secure are Contactless Payment Systems?

How Secure are Contactless Payment Systems? SESSION ID: HT-W01 How Secure are Contactless Payment Systems? Matthew Ngu Engineering Manager RSA, The Security Division of EMC Chris Scott Senior Software Engineer RSA, The Security Division of EMC 2

More information

OVERVIEW OF MOBILE PAYMENT LANDSCAPE

OVERVIEW OF MOBILE PAYMENT LANDSCAPE OVERVIEW OF MOBILE PAYMENT LANDSCAPE NEACH FORUM September 10, 2014 Marianne Crowe Federal Reserve Bank of Boston Disclaimer: The views expressed in this presentation are those of the presenter and do

More information

OVERVIEW OF MOBILE PAYMENT LANDSCAPE Marianne Crowe Federal Reserve Bank of Boston NEACH September 10, 2014

OVERVIEW OF MOBILE PAYMENT LANDSCAPE Marianne Crowe Federal Reserve Bank of Boston NEACH September 10, 2014 OVERVIEW OF MOBILE PAYMENT LANDSCAPE Marianne Crowe Federal Reserve Bank of Boston NEACH September 10, 2014 Disclaimer: The views expressed in this presentation are those of the presenter and do not necessarily

More information

Data Security for Retail Consumers Perceptions, Expectations and Potential Impacts

Data Security for Retail Consumers Perceptions, Expectations and Potential Impacts Research Report Data Security for Retail Consumers Perceptions, Expectations and Potential Impacts Executive Summary Over the past few years, the personal information of millions of credit and debit card

More information

When it comes to payments today, the customer rules. Simple. Personal. Everyday.

When it comes to payments today, the customer rules. Simple. Personal. Everyday. 2015 North America Consumer Digital Payments Survey When it comes to payments today, the customer rules. Simple. Personal. Everyday. Toward a future of digital payments Digital is the most disruptive force

More information

Preparing for The Fourth Pillar of Mobile Payments: Payments to Merchants and Retailers

Preparing for The Fourth Pillar of Mobile Payments: Payments to Merchants and Retailers Point of View Preparing for The Fourth Pillar of Mobile Payments: Payments to Merchants and Retailers After years of hearing that the era of the mobile wallet has arrived, bankers have become weary of

More information

The Essential Apple Pay. Your Guide to the Future of Payments

The Essential Apple Pay. Your Guide to the Future of Payments Your Guide to the Future of Payments Pay In September, Tim Cook, CEO of Apple Inc., announced the arrival of Apple Pay. The long-awaited mobile payments system will allow consumers to complete payment

More information

DATA BREACHES: HOW IT IMPACTS THE CUSTOMER & THE FINANCIAL INSTITUTION. Prepared For: First Citizens Federal Credit Union 3/18/2015

DATA BREACHES: HOW IT IMPACTS THE CUSTOMER & THE FINANCIAL INSTITUTION. Prepared For: First Citizens Federal Credit Union 3/18/2015 DATA BREACHES: HOW IT IMPACTS THE CUSTOMER & THE FINANCIAL INSTITUTION. Prepared For: First Citizens Federal Credit Union TABLE OF CONTENTS Data Breach Trends Financial Institutions Impact How First Citizens

More information

US Mobile Payments. Primed for Growth

US Mobile Payments. Primed for Growth US Mobile Payments Primed for Growth By Todd Bricker and Shahzad Zia Momentum is building in the US for in-store mobile payments as smartphone ecosystem leaders unveil enhanced mobile payment platforms.

More information

Payeezy SM Webinar: 15 Minutes to Apple Pay TM In-App Payments with Payeezy. Tom Eck First Data. October 2, 2014

Payeezy SM Webinar: 15 Minutes to Apple Pay TM In-App Payments with Payeezy. Tom Eck First Data. October 2, 2014 Payeezy SM Webinar: 15 Minutes to Apple Pay TM In-App Payments with Payeezy Tom Eck First Data October 2, 2014 1 Today s Goal Understand Apple Pay In-App Payments and how to quickly and easily enable them

More information

Consumer Mobile Payments Survey. Driving Value and Adoption of Mobile Payments Consumers Want More

Consumer Mobile Payments Survey. Driving Value and Adoption of Mobile Payments Consumers Want More Consumer Mobile Payments Survey Driving Value and Adoption of Mobile Payments Consumers Want More Accenture recently surveyed North American smart phone users to understand how consumers can be encouraged

More information

E-Commerce payment trends. Petr Polak Senior Sales Manager Czech Republic and Slovakia

E-Commerce payment trends. Petr Polak Senior Sales Manager Czech Republic and Slovakia E-Commerce payment trends Petr Polak Senior Sales Manager Czech Republic and Slovakia 1 Visa Europe European Payment System One VISA Future Visa Europe and Visa Inc. announced today their intention to

More information

Making the Move to EMV: The Risks and the Rewards

Making the Move to EMV: The Risks and the Rewards White paper A First Capital Payments Smart Guide Making the Move to EMV: The Risks and the Rewards Understanding, Implementing, and Benefitting From EMV Technology By: Hiram Hernandez, Jr. CEO, First Capital

More information

Apple Pay. Frequently Asked Questions UK Launch

Apple Pay. Frequently Asked Questions UK Launch Apple Pay Frequently Asked Questions UK Launch Version 1.0 2015 First Data Corporation. All Rights Reserved. All trademarks, service marks and trade names referenced in this material are the property of

More information

A Solution to the Mobile Wallet Conundrum

A Solution to the Mobile Wallet Conundrum A Solution to the Mobile Wallet Conundrum 2014 Cortex MCP Page 1 Introduction: A new approach is needed to make the Mobile Wallet mainstream More people than ever are using smartphones to place and take

More information

Online Credit Card Report

Online Credit Card Report Measuring the digital world. TM Online Credit Card Report April 2011 FOR FURTHER INFORMATION, PLEASE CONTACT: Sarah Lenart comscore, Inc. (703) 234 8689 slenart@comscore.com Stephanie Houck comscore, Inc.

More information

2016 Credit Card Monitor Report

2016 Credit Card Monitor Report Chart Extracts From: 2016 Credit Card Monitor Report Credit Card Rewards, Redemption & Merchant Loyalty Programs Greg Weed 828-697-9192 Greg.Weed@phoenixmi.com April 2016 Table of Contents Page I. Objectives

More information

DATA SECURITY: EVERYTHING YOU NEED TO KNOW

DATA SECURITY: EVERYTHING YOU NEED TO KNOW DATA SECURITY: EVERYTHING YOU NEED TO KNOW! Data Breaches: Where, What and Why! Federal and State Regulations to Protect Data! EMV Chip Technology! PIN or Signature?! Existing and Emerging Security Options!

More information

GFK SURVEY ON DATA PRIVACY AND TRUST

GFK SURVEY ON DATA PRIVACY AND TRUST GFK SURVEY ON DATA PRIVACY AND TRUST Data highlights GfK 2014 1 Methodology 1,000 completed interviews in the U.S. 18+ years March 7 th - 9 th, 2014 Findings sorted by Generations Pre-Boomers (born pre-1946):

More information

Digital Payment Solutions TSYS Enterprise Tokenization:

Digital Payment Solutions TSYS Enterprise Tokenization: Digital Payment Solutions TSYS Enterprise : FAQs & General Information FAQ TSYS DIGITAL DIGITAL PAYMENT PAYMENTS SOLUTIONS SOLUTIONS Account Holder Experience Apple Pay 1 Android Pay 2 Samsung Pay 2 Issuer

More information

WHAT IS A MOBILE WALLET? AN INTRO TO MOBILE WALLETS

WHAT IS A MOBILE WALLET? AN INTRO TO MOBILE WALLETS WHAT IS A MOBILE WALLET? AN INTRO TO MOBILE WALLETS WHAT IS A MOBILE WALLET? PART 1 CONSUMER TECHNOLOGY Perhaps you are skeptic about mobile wallets and if your Credit Union membership will adopt them.

More information

Building Customer Loyalty with Prepaid Cards

Building Customer Loyalty with Prepaid Cards Building Customer Loyalty with Prepaid Cards 2 Introduction Retail purchases with prepaid cards are expected to exceed $200 billion in 2014, or five percent of all U.S. retail spending. Some well-known

More information

Frequently Asked Questions & Answers: Bring Your Own Device (BYOD) Policy

Frequently Asked Questions & Answers: Bring Your Own Device (BYOD) Policy Frequently Asked Questions & Answers: Bring Your Own Device (BYOD) Policy Converting a Device Whose phones will be wiped on Wednesday, January 30? If you continue to have a company-paid phone, you are

More information

Latest and Future development of Mobile Payment in Hong Kong

Latest and Future development of Mobile Payment in Hong Kong Latest and Future development of Mobile Payment in Hong Kong About oti Founded in 1990 (NASDAQ: OTIV). Offices in US, Europe, Africa, Asia Global provider of cashless payment solutions Experts in secured

More information

EMV FAQs. Contact us at: CS@VancoPayments.com. Visit us online: VancoPayments.com

EMV FAQs. Contact us at: CS@VancoPayments.com. Visit us online: VancoPayments.com EMV FAQs Contact us at: CS@VancoPayments.com Visit us online: VancoPayments.com What are the benefits of EMV cards to merchants and consumers? What is EMV? The acronym EMV stands for an organization formed

More information

Best practices for choosing and integrating a mobile payments platform. A GlobalOnePay White Paper

Best practices for choosing and integrating a mobile payments platform. A GlobalOnePay White Paper Best practices for choosing and integrating a mobile payments platform A GlobalOnePay White Paper Mobile commerce (mcommerce) purchases and in-app payments made on mobile devices are rapidly becoming just

More information

Flexible and secure. acceo tender retail. payment solution. tender-retail.acceo.com

Flexible and secure. acceo tender retail. payment solution. tender-retail.acceo.com Flexible and secure payment solution acceo tender retail payment solution tender-retail.acceo.com Take control of your payment transactions ACCEO Tender Retail is a specialized middleware that handles

More information

Understand the Business Impact of EMV Chip Cards

Understand the Business Impact of EMV Chip Cards Understand the Business Impact of EMV Chip Cards 3 What About Mail/Telephone Order and ecommerce? 3 What Is EMV 3 How Chip Cards Work 3 Contactless Technology 4 Background: Behind the Curve 4 Liability

More information

Target Security Breach

Target Security Breach Target Security Breach Lessons Learned for Retailers and Consumers 2014 Pointe Solutions, Inc. PO Box 41, Exton, PA 19341 USA +1 610 524 1230 Background In the aftermath of the Target breach that affected

More information

Mobile Payments Applications and Challenges Jose Diaz Director, Business Development & Technical Alliances Thales e-security

Mobile Payments Applications and Challenges Jose Diaz Director, Business Development & Technical Alliances Thales e-security www.thales-esecurity.com Mobile Payments Applications and Challenges Jose Diaz Director, Business Development & Technical Alliances Thales e-security 2 / Verizon Data Breach Report 3 / Victim Industry

More information

Payment Methods: What International Consumers Want, Need and Expect

Payment Methods: What International Consumers Want, Need and Expect Payment Methods: What International Consumers Want, Need and Expect By First Data and Market Strategies International 2011 First Data Corporation. All trademarks, service marks and trade names referenced

More information

...Some people / organizations will be a target REGARDLESS of what they do, but most will be a target / victim BECAUSE of what they do

...Some people / organizations will be a target REGARDLESS of what they do, but most will be a target / victim BECAUSE of what they do ...Some people / organizations will be a target REGARDLESS of what they do, but most will be a target / victim BECAUSE of what they do (2013 DATA BREACH INVESTIGATIONS REPORT p.1) MOBILE D EVICE S AFETY

More information

Cash 257 Merchant Services and Revenue Collection

Cash 257 Merchant Services and Revenue Collection CPIM Academy Cash 257 Merchant Services and Revenue Collection 2015 Objectives Feel prepared to discuss/understand basics of merchant processing Understand Service Fees Difference between credit and debit

More information

Mobile Banking Apps Becoming Financially Involved

Mobile Banking Apps Becoming Financially Involved Research Paper Mobile Banking Apps Becoming Financially Involved By Joseph Majestic Mobile is one topic that continues to garner significant attention across the banking and payments industries. A quick

More information

Apple Pay. Frequently Asked Questions UK

Apple Pay. Frequently Asked Questions UK Apple Pay Frequently Asked Questions UK Version 1.0 (July 2015) First Data Merchant Solutions is a trading name of First Data Europe Limited, a private limited company incorporated in England (company

More information

CANADA VS THE USA - THE CONTRAST AND LESSONS FOR MOBILE PAYMENTS

CANADA VS THE USA - THE CONTRAST AND LESSONS FOR MOBILE PAYMENTS CANADA VS THE USA - THE CONTRAST AND LESSONS FOR MOBILE PAYMENTS Presented by: Jacqueline Chilton, Founding Partner, Muration Group Catherine Johnston, President & CEO ACT Canada Muration Group 2014 2

More information

RETHINKING CARDS BUSINESS. Erick Ho, Head of Payment Services, SunGard 17 September 2015. Break through.

RETHINKING CARDS BUSINESS. Erick Ho, Head of Payment Services, SunGard 17 September 2015. Break through. RETHINKING CARDS BUSINESS Erick Ho, Head of Payment Services, SunGard 17 September 2015 Break through. Agenda 01 02 03 04 05 Trends and Growth in cards and payment business Sharpening Business Focus The

More information

Online vs. In-Store Shopping

Online vs. In-Store Shopping Online vs. In-Store Shopping Since 2005, Retail Sales have grown... GAFO Stores = 16.7% Electronic Retailers = 112.9% $1,192,197 $1,143,426 $1,155,854 $1,136,469 $1,110,155 $1,114,590 $1,088,369 $1,059,599

More information

Consumer Enthusiasm and Desire for Chip Cards Growing

Consumer Enthusiasm and Desire for Chip Cards Growing Consumer Enthusiasm and Desire for Chip Cards Growing Consumers Asking for Specifics on Chip Card Functionality and Availability: How Does It Work and When Can I Get It? 2,000+ CONSUMERS SURVEYED As chip

More information

Girl Scouts NC Coastal Pines Frequently Asked Questions Sage Credit Card Swipers

Girl Scouts NC Coastal Pines Frequently Asked Questions Sage Credit Card Swipers Girl Scouts NC Coastal Pines Frequently Asked Questions Sage Credit Card Swipers Q: Our troop had an account last year; can we use the same user I.D and password? Is our Merchant I.D the same? This year,

More information

Apple Pay. Will it transform in-store and in-app payments in the UK? Will it transform in-store & in-app payments in the UK?

Apple Pay. Will it transform in-store and in-app payments in the UK? Will it transform in-store & in-app payments in the UK? Will it transform in-store & in-app payments in the UK? 1 OVERVIEW Apple Pay is a payment method that works via NFC enabled Apple devices both in bricks and mortar stores and in apps. In stores it uses

More information

About Visa paywave for mobile

About Visa paywave for mobile F A C T S H E E T About Visa paywave for mobile Visa paywave is Visa s contactless payment technology that enables consumers to make wave and go payments at the shop counter using their payment cards,

More information

MCX/CURRENTC. This payment app will be unique from other mobile payments options in that it is not device specific. Consumers

MCX/CURRENTC. This payment app will be unique from other mobile payments options in that it is not device specific. Consumers Payment Services WHITE PAPER MOBILE PAYMENTS TECHNOLOGY Intelligent solutions to connect with your members. THE HISTORY OF MOBILE As mobile devices have permeated the marketplace, developers have focused

More information

CPIM Academy. Cash 257 Merchant Services and Revenue Collection

CPIM Academy. Cash 257 Merchant Services and Revenue Collection CPIM Academy Cash 257 Merchant Services and Revenue Collection 2015 Objectives Feel prepared to discuss/understand basics of merchant processing Understand Service Fees Difference between credit and debit

More information

Evolving Mobile Payments Industry Landscape

Evolving Mobile Payments Industry Landscape Evolving Mobile Payments Industry Landscape Mobile Banking: Can the Unbanked Bank on It? Sargent Shriver National Center on Poverty Law webinar August 16, 2012 Marianne Crowe Federal Reserve Bank of Boston

More information

Special Report: Trends in Mobile Payment April 2015

Special Report: Trends in Mobile Payment April 2015 Special Report: Trends in Mobile Payment April 2015 Contents Executive Summary Consumers Adopting Mobile Mobile Payment Methods Leveraging Mobile Payments Enabling Your Business 2 Confidential & Proprietary

More information

Spring Hill State Bank Mobile Banking FAQs

Spring Hill State Bank Mobile Banking FAQs Spring Hill State Bank Mobile Banking FAQs What is Mobile Banking? Mobile Banking enables you to access your account information using the Bank online banking website. You must first be enrolled as an

More information

Preparing for EMV chip card acceptance

Preparing for EMV chip card acceptance Preparing for EMV chip card acceptance Ben Brown Vice President, Regional Sales Manager, Wells Fargo Merchant Services Lily Page Vice President, Wholesale ereceivables, Wells Fargo Merchant Services June

More information

As the popularity of mobile banking surges, financial institutions are rushing to develop appealing new enhancements.

As the popularity of mobile banking surges, financial institutions are rushing to develop appealing new enhancements. As the popularity of mobile banking surges, financial institutions are rushing to develop appealing new enhancements. 16 ABA BANK MARKETING AND SALES JANUARY-FEBRUARY 2015 Mobile Banking: What s Next?

More information

Grow with our omni-channel payment processing technologies and merchant services.

Grow with our omni-channel payment processing technologies and merchant services. Grow with our omni-channel payment processing technologies and merchant services. Get ready for growth Payment processing solutions ecommerce mcommerce In-app payments Virtual terminal Card present EMV

More information

General information about NFC technology

General information about NFC technology General information about NFC technology What is NFC? How does it work? What is a tap? What is link between NFC technology and Tapit? NFC stands for Near Field Communication. This is a short range wireless

More information

Driving shopper engagement through digital technology

Driving shopper engagement through digital technology Driving shopper engagement through digital technology Third annual study of the impact of digital technology on the retail landscape. June 2015 The habits of many retail shoppers are changing. Some key

More information

Transforming the Customer Experience When Fraud Attacks

Transforming the Customer Experience When Fraud Attacks Transforming the Customer Experience When Fraud Attacks About the Presenters Mike Young, VP, Product Team, Everbank Manages consumers and business banking products, as well as online and mobile banking

More information

Data Challenges In The Changing Landscape of ecommerce

Data Challenges In The Changing Landscape of ecommerce Data Challenges In The Changing Landscape of ecommerce Your Duty of Care For Your Customer s Information Christine Bardwell Research Manager, IDC Retail Insights cbardwell@idc.com @C_Bardwell Data: from

More information

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating Given recent payment data breaches, clients are increasingly demanding robust security and fraud solutions; and Financial institutions continue to outsource and leverage technology providers given their

More information

Contactless Payments. Björn Salomon-Sörensen, Account Director - Swedbank November 11, 2015

Contactless Payments. Björn Salomon-Sörensen, Account Director - Swedbank November 11, 2015 Contactless Payments Björn Salomon-Sörensen, Account Director - Swedbank CONTACTLESS BASICS AND BENEFITS What s Inside MasterCard Contactless? Similar to a standard MasterCard card with some differences.

More information

2 Always On Americans are falling asleep with their smartphones; can t last a day without them

2 Always On Americans are falling asleep with their smartphones; can t last a day without them 1 We are pleased to share the second annual Bank of America Trends in Consumer Mobility Report, a study that explores mobile behaviors and trends among adult consumers across the country. This year s results

More information

A Brand New Checkout Experience

A Brand New Checkout Experience A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small

More information

A Brand New Checkout Experience

A Brand New Checkout Experience A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small

More information

For parents this document should be read in conjunction with the Osper Cardholder Terms and Conditions.

For parents this document should be read in conjunction with the Osper Cardholder Terms and Conditions. Version: 10.08.15 Osper Service Terms Introduction This document explains your legal rights and obligations in relation to your use of the Osper Service ( Osper ), including use of the Osper App. Parents

More information

EESTEL. Association of European Experts in E-Transactions Systems. Apple iphone 6, Apple Pay, What else? EESTEL White Paper.

EESTEL. Association of European Experts in E-Transactions Systems. Apple iphone 6, Apple Pay, What else? EESTEL White Paper. EESTEL White Paper October 29, 2014 Apple iphone 6, Apple Pay, What else? On 2014, September 9 th, Apple has launched three major products: iphone 6, Apple Watch and Apple Pay. On October 17 th, Apple

More information

Mobile payments: The next step in a bank s digital journey

Mobile payments: The next step in a bank s digital journey Mobile payments: The next step in a bank s digital journey As mobile payments hit the mainstream, bankers should offer their customers a compelling proposition rather than wait for someone else to lure

More information

Retail customers are shouting are you adapting?

Retail customers are shouting are you adapting? Retail customers are shouting are you adapting? Accenture s new survey of global shoppers reveals a rising intensity that is forcing companies to adapt more quickly to the shifting retail reality that

More information

Bringing Mobile Payments to Market for an International Retailer

Bringing Mobile Payments to Market for an International Retailer Bringing Mobile Payments to Market for an International Retailer Founded in 2011, Clearbridge Mobile has emerged as a world class studio developing state of the art wearable and mobile wallet / payment

More information

Mobile Consumers. & You. How to use mobile to your advantage. tradedoubler.com

Mobile Consumers. & You. How to use mobile to your advantage. tradedoubler.com Mobile Consumers & You How to use mobile to your advantage Driving value from the mobile consumer In the age of the smartphone, brands and retailers cannot succeed without persuading mobile researchers

More information

Business white paper Mobile payments

Business white paper Mobile payments Business white paper Mobile payments Setting standards and gaining customer loyalty Business white paper Page 2 Mobile payments With the rapid development of electronic systems and technology, the adoption

More information

TABLE OF CONTENTS. In This Report. Table of Contents 2. Executive Summary 3. Key Findings 4. Online Shopping Habits 5.

TABLE OF CONTENTS. In This Report. Table of Contents 2. Executive Summary 3. Key Findings 4. Online Shopping Habits 5. Walker Sands 2015 Future of Retail Study examines changing trends and consumer behaviors in retail. Based on a survey of more than 1,400 U.S. consumers, Walker Sands second annual report uncovers what

More information

Internet Security Priorities. Benenson Strategy Group and American Viewpoint December 20, 2013

Internet Security Priorities. Benenson Strategy Group and American Viewpoint December 20, 2013 Internet Security Priorities Prepared for: Presented by: Benenson Strategy Group and American Viewpoint December 20, 2013 Methodology The Benenson Strategy Group and American Viewpoint conducted 1,000

More information

Less is More: Streamlining Commerce for the Campus Advantage

Less is More: Streamlining Commerce for the Campus Advantage Less is More: Streamlining Commerce for the Campus Advantage AGENDA Campus Commerce is BIG Business $$$ Revenue Opportunity is Growing Campus Cards are Used Everywhere for Almost Anything Technology What

More information

Leading Edge Insights into the World of the Wealthy

Leading Edge Insights into the World of the Wealthy New York Vol. 10 No. 1 First Quarter 2014 Leading Edge Insights into the World of the Wealthy Inside This Issue: WealthSurvey: Leveraging Technology In-Store and Online Affluent U.S. consumers weigh in

More information

Banking in the Mobile Age: MicroStrategy s Mobile Solutions. Stephen Bruggers VP Financial Services Solutions

Banking in the Mobile Age: MicroStrategy s Mobile Solutions. Stephen Bruggers VP Financial Services Solutions Banking in the Mobile Age: MicroStrategy s Mobile Solutions Stephen Bruggers VP Financial Services Solutions Agenda Banking in the Mobile Age Transformation of Banking! Four Pillars of Mobile-Age Banking

More information

Welcome to your CIBC Dividend Visa * Card

Welcome to your CIBC Dividend Visa * Card Welcome to your CIBC Dividend Visa * Card Turn your everyday spending into cash back rewards Get 2% cash back on all grocery purchases 1 Get started with your new cash back card 1. Activate your card Activate

More information

INTRODUCTION AND HISTORY

INTRODUCTION AND HISTORY INTRODUCTION AND HISTORY EMV is actually younger than we all may think as it only became available, as a specification that could be implemented, in 1996. The evolution of EMV can be seen in the development

More information

Security and Usability

Security and Usability Security and Usability David Hunt: DCH Technology Services A Financial Services View Active Security Passive Security Technologies Impact on Users Big Data Consumer context, do we know you? Active Security

More information

Mobile Banking and Payment Trends What You Need to Know

Mobile Banking and Payment Trends What You Need to Know Mobile Banking and Payment Trends What You Need to Know May 2011 1 Research Objectives and Methodology Study objective Determine the impact of mobile devices on behaviors related to financial transactions

More information

White Paper: Are there Payment Threats Lurking in Your Hospital?

White Paper: Are there Payment Threats Lurking in Your Hospital? White Paper: Are there Payment Threats Lurking in Your Hospital? With all the recent high profile stories about data breaches, payment security is a hot topic in healthcare today. There s been a steep

More information

Tokenization: FAQs & General Information. www.tsys.com BACKGROUND. GENERAL INFORMATION What is Tokenization?

Tokenization: FAQs & General Information. www.tsys.com BACKGROUND. GENERAL INFORMATION What is Tokenization? FAQ Tokenization: FAQs & General Information BACKGROUND As technology evolves, consumers are increasingly making their purchases online or through mobile devices and digital wallet applications and their

More information

permitting close proximity communication between devices in this case a phone and a terminal.

permitting close proximity communication between devices in this case a phone and a terminal. MOBILE PAYMENT What it is. How it works. What it means for Canadians. By EnStream LP for the House of Commons Finance Committee February 13, 2014 INTRODUCTION EnStream was established by Bell, Rogers and

More information

toast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard

toast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard toast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard Table of Contents For more than 40 years, merchants and consumers have used magnetic stripe credit cards and compatible

More information

The Cost of Compliance

The Cost of Compliance The Cost of Compliance The Payment Card Industry Data Security Standard (PCI DSS) aims to protect sensitive cardholder data throughout the life cycle of ecommerce transactions. The standard puts heavy

More information

WHITE PAPER KEEPING CLIENT AND EMPLOYEE DATA SECURE DRIVES REVENUE AND BUILDS TRUST PROTECTING THE PROTECTOR

WHITE PAPER KEEPING CLIENT AND EMPLOYEE DATA SECURE DRIVES REVENUE AND BUILDS TRUST PROTECTING THE PROTECTOR KEEPING CLIENT AND EMPLOYEE DATA SECURE DRIVES REVENUE AND BUILDS TRUST Protecting Identities. Enhancing Reputations. IDT911 1 DATA BREACHES AND SUBSEQUENT IDENTITY THEFT AND FRAUD THREATEN YOUR ORGANIZATION

More information

2014 North America Consumer Payments Survey. My Pay. My Way. How consumer choice will shape the future of payments

2014 North America Consumer Payments Survey. My Pay. My Way. How consumer choice will shape the future of payments 2014 North America Consumer Payments Survey My Pay. My Way. How consumer choice will shape the future of payments 2 The digital revolution is transforming commerce, including the payments industry. From

More information

Payeezy.com Security in Apple Pay In-App Development

Payeezy.com Security in Apple Pay In-App Development Payeezy.com Security in Apple Pay In-App Development TM Unlike wallets of the past that saw weak consumer engagement, demand for Apple Pay is being driven directly by consumers. Today, developers are seeing

More information

MOBILE APP & DIGITAL WALLET USAGE

MOBILE APP & DIGITAL WALLET USAGE MOBILE APP & DIGITAL WALLET USAGE 2013 Consumer Research by Digital Research, Inc. Excerpt from the Full Report: Triggers, Links & Brand Opportunities in the egifting Marketplace MOBILE APP & DIGITAL WALLET

More information

Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011

Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011 Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011 On 5 th March 2010, The Association of Banks in Singapore announced key measures to adopt a holistic

More information

SOLUTION DESCRIPTION PAYMENT TERMINAL TO CRM INTEGRATION

SOLUTION DESCRIPTION PAYMENT TERMINAL TO CRM INTEGRATION Around the world Merchant360 makes promotions, loyalty, and payment easy for brands, merchants and their customers usa SOLUTION DESCRIPTION PAYMENT TERMINAL TO CRM INTEGRATION Use existing cards and mobile

More information

BEHIND OUR DIGITAL DOORS: CYBERSECURITY & THE CONNECTED HOME. Executive Summary

BEHIND OUR DIGITAL DOORS: CYBERSECURITY & THE CONNECTED HOME. Executive Summary BEHIND OUR DIGITAL DOORS: CYBERSECURITY & THE CONNECTED HOME Executive Summary In support of National Cyber Security Awareness Month (October), ESET and the National Cyber Security Alliance (NCSA) commissioned

More information

PREPARED STATEMENT OF SAMSUNG ELECTRONICS AMERICA. For the

PREPARED STATEMENT OF SAMSUNG ELECTRONICS AMERICA. For the PREPARED STATEMENT OF SAMSUNG ELECTRONICS AMERICA For the COMMITTEE ON ENERGY AND COMMERCE OF THE U.S. HOUSE OF REPRESENTATIVES SUBCOMMITTEE ON COMMERCE, MANUFACTURING, AND TRADE On THE DISRUPTER SERIES:

More information

Invigorate Your Mobile Commerce Strategy with Low-Cost Payment Steering

Invigorate Your Mobile Commerce Strategy with Low-Cost Payment Steering Invigorate Your Mobile Commerce Strategy with Low-Cost Payment Steering By: Theresa Ward Director, First Data 2012 First Data Corporation. All trademarks, service marks and trade names referenced in this

More information

A RE T HE U.S. CHIP RULES ENOUGH?

A RE T HE U.S. CHIP RULES ENOUGH? August 2015 A RE T HE U.S. CHIP RULES ENOUGH? A longer term view of security and the payments landscape is needed. Abstract: The United States is finally modernizing its card payment systems and confronting

More information

Mobile Near-Field Communications (NFC) Payments

Mobile Near-Field Communications (NFC) Payments Mobile Near-Field Communications (NFC) Payments OCTOBER 2013 GENERAL INFORMATION American Express continues to develop its infrastructure and capabilities to support growing market interest in mobile payments

More information

The Future of Payments 2015: Financial Institutions. The Payments Value Chain is Driven by Customers

The Future of Payments 2015: Financial Institutions. The Payments Value Chain is Driven by Customers The Future of Payments 2015: Financial Institutions The Payments Value Chain is Driven by Customers 1 Catalyst Payments Are at a Crossroads The payments market is changing. From cash to checks, to charge

More information

Payments simplified. 1

Payments simplified. 1 1 Payments simplified. T H E PAY M E N T I N D U S T RY A I N T W H AT I T U S E D T O B E 2 Complexity is increasing, More change in next 5, than last 50 Emerging payments / loyalty / rewards / coupons

More information

Finding a Cure for Medical Identity Theft

Finding a Cure for Medical Identity Theft Finding a Cure for Medical Identity Theft A look at the rise of medical identity theft and what small healthcare organizations are doing to address threats October 2014 www.csid.com TABLE OF CONTENTS SUMMARY

More information

A RE CARD BRANDS DISAPPEARING

A RE CARD BRANDS DISAPPEARING February 2016 A RE CARD BRANDS DISAPPEARING AT THE POS? Mobile payment brands are taking hold The major card payment brands cannot be complacent if they want to remain the dominant payment brands. The

More information