 | MOBILE PAYMENTS 2015: Driving The Uberisation Of The EconomyRelease date: July 6th, 2015 (163 pages) PDF/Powerpoint format. Price: GBP1,990.00 |
Abstract
Uberization means applying the Uber business model in different sectors from healthcare to real estate and food delivery, as well as financial and legal services.
It means meshing smartphones, dynamic pricing and dynamic supply to create a disruptive and delightful user experience.
We believe that the mobile payment revolution will further drive the uberisation of the economy and society towards an on-demand culture.
There is a massive opportunity for the retail sector to combine mobiles, loyalty schemes and the right payment solution – with personalized pricing only one aspect.
Table of contents
| Executive summary | p12 |
| Context: a short history of mobile payments | p20 |
| Mobile payments: all hype? Confusion prevents adoption | p21 |
| Mobile payments: the convergence on NFC | p22 |
| Mobile payments: all Apple Pay? ... even though NFC isn’t the best solution | p23 |
| Mobile payments: horizontal retailer collaboration unlikely, chance to lower fees | p24 |
| Mobile payments: retailer reluctance to share key data with service providers | p25 |
| Mobile payments: retailers as significant actors in financial services already | p26 |
| Context: Technology | p27 |
| Technologies: Near Field Communication, Complex Ecosystem Of Stakeholders | p28 |
| Technologies: Near Field Communication – The Least Bad Scenario For Incumbents | p29 |
| Technologies: Near Field Communication – Uncertain Regulatory And Legal Framework | p30 |
| Technologies: Near Field Communication – the push from Apple | p31 |
| Recent key developments | p32 |
| Summer 2014: WeChat launches P2P service, Amazon Local Register | p33 |
| September/October 2014: WeChat Quick Pay, UK retailers use Zapp | p34 |
| November/December 2014: Snapcash launched, WeChat’s new API, Line Pay | p35 |
| January 2015: Amazon Wallet folds, Line Taxi | p36 |
| February 2015: Google Wallet, WeChat’s red envelopes, Line acquires WebPay | p37 |
| February 2015: Samsung acquire LoopPay | p38 |
| March 2015: Alibaba, PayPal acquires Paydiant, Facebook payments, Line expansion | p39 |
| May 2015: Walmart in China, Starbucks hack, V.me | p40 |
| May 2015: MasterCard Send, UK moving towards cashless, Google’s Android Pay | p41 |
| June 2015: Samsung Pay delay, Denmark’s MobilePay | p42 |
| June 2015: UK gearing up for Apple Pay and Zapp launches | p43 |
| June 2015: MasterCard opens up private label cards, Samsung’s smartwatch | p44 |
| Company profiles – the device manufacturers / hardware providers | p45 |
| Apple Pay: the most likely company to get mobile wallets to gain traction | p47 |
| Apple Pay: off to a strong start ... from an incredibly low base though | p48 |
| Apple Pay: winning with issuers in December 2014 | p49 |
| Apple Pay: breaking into travel and airplanes in February 2015 | p50 |
| Apple Pay: continuing to win with issuers in May 2015 | p51 |
| Apple Pay: international expansion China and Canada | p52 |
| Apple Pay: ...but what about retailers taking part? | p53 |
| Apple Pay: ...poor outlook in Europe due to different structures | p54 |
| Apple Pay: ... what EU banks have to consider, Apple as financial service provider? | p55 |
| Apple Pay: ... but all is not lost, the reputation factor | p56 |
| Apple Pay: ... imminent UK launch, July 2015 | p57 |
| Samsung Pay: NFC and MST based, the LoopPay acquisition | p59 |
| Samsung Pay: wide retailer adoption possible due to supporting two standards | p60 |
| Samsung Pay: biometric function, banking partners | p61 |
| Verifone: introducing the service to Aldi Nord | p62 |
| Company profiles – the internet giants | p63 |
| ebay KPIs: Net revenue, marketplaces, payments, enterprise, growth 2009-13 | p65 |
| ebay: revenue analysis – the outperformance by PayPal | p66 |
| KPIs: Marketing services and other revenue, growth 2009-13 | p67 |
| Strategy – PayPal | p68 |
| PayPal: the jewel in the crown, moving to offline payments | p69 |
| PayPal: Paypal on other online platforms | p70 |
| PayPal: all stakes on the digital wallet? | p71 |
| PayPal: on course to become the number one digital wallet? | p72 |
| PayPal: coexistence of digital wallets and cash and card payments | p73 |
| PayPal: how will PayPal fare after the split? ApplePay, a stagnant innovator? | p74 |
| PayPal: PayPal – the opportunities after the split, new partners, new verticals | p75 |
| PayPal: PayPal for charities, university, QSRs, scaling up across the globe | p76 |
| PayPal: reduction in duplication of ebay sales teams, an acquisition target? | p77 |
| Venmo: PayPal’s P2P solution, making payments social | p78 |
| Venmo: ...soon to connect users to businesses? | p79 |
| Recent key developments: PayPal Here SDK, moving more into offline | p80 |
| Recent key developments: Braintree’s one-touch mobile payments product | p81 |
| Recent key developments: Microsoft and Shell UK partnerships | p82 |
| Recent key developments: The Paydiant acquisition, Uber partnership | p83 |
| Google: the wallet failure and Softcard acquisition | p85 |
| Google: launching Android Pay | p86 |
| Google: Android Pay vs Samsung Pay, Hands Free Payment | p87 |
| Google: similar approach to Apple, with a crucial difference | p88 |
| Google: trying to create a payment ecosystem, AP a way out for CurrentC? | p89 |
| Google: will Android Pay be all about advertising? Will it charge fees? | p90 |
| Amazon: local register and Amazon’s weakness in payments generally | p91 |
| Amazon: the mobile wallet fail | p92 |
| Company profiles – retailers | p93 |
| Starbucks: the best player in the m-payment space, data points, low AOV | p95 |
| Starbucks: the outstanding mobile payments retailer, US UK interoperability | p96 |
| Starbucks: the customer experience | p97 |
| Starbucks: $15bn processed in m-payments, 7m weekly transactions | p98 |
| Starbucks: key learnings how to make m-payment work | p99 |
| CurrentC: retailers trying to collaborate and do the right thing | p101 |
| CurrentC: blending payments with loyalty schemes, no till upgrades needed | p102 |
| CurrentC: more retailer focused than consumer focused, still not live | p104 |
| CurrentC: being wrong footed by Apple and NFC | p105 |
| CurrentC: PayPal’s acquisition of Paydiant, the end for CurrentC? | p106 |
| Yapital: white label service provider in m payment is running into trouble | p108 |
| Yapital: trying to pivot on the service and launch a CurrentC type solution | p109 |
| Yapital: QR code solution might be up against it | p110 |
| Company profiles – the social networks and messaging apps | p111 |
| WeChat: transforming messaging into a one-stop digital platform | p113 |
| WeChat: recent key developments from P2P to offline payments in store | p114 |
| WeChat: opening the API, red envelopes | p115 |
| WeChat: internationalising; pay for goods, pay friends, hail taxis and chat | p116 |
| WeChat: a model for Facebook, Snapchat, Venmo and Square’s P2P to emulate | p117 |
| Line: building an ecosystem to cater for users’ digital lives | p118 |
| Line: Line Wow, food-delivery service, Line Maps, Line Taxi, but will it internationalise? | p119 |
| Snapcash: Snapchat teaming up with payments processor Square | p120 |
| Snapcash: P2P space gets increasingly crowded | p121 |
| Facebook: building a P2P solution from scratch | p122 |
| Facebook: no target to monetise payments but rather keep users in the ecosystem | p123 |
| Square: successful dongle, unsuccessful digital wallet, Square Cash | p124 |
| Square: from P2P to business transactions, $Cashtags enabling donations from strangers | p125 |
| Square: but how to monetise SquareCash? | p126 |
| Stripe: backed by PayPal founders Peter Thiel, Elon Musk and Max Levchin | p127 |
| Stripe: Stripe-powered apps will be accepting Apple Pay and Android Pay in UK | p128 |
| The card operators: what are Visa and Mastercard up to? | p129 |
| Card Operators: Disruption Ahead | p130 |
| Card Operators: Will Still Dominate | p131 |
| Card Operators: Threat To Interchange | p132 |
| Card Operators: New Bank Transfers | p133 |
| MasterCard Send: accelerating mobile P2P payments in quickly growing space | p135 |
| MasterCard Send: a late entrant | p136 |
| MasterPass: standalone digital wallet and support for other players’ platforms | p137 |
| MasterPass: in-store checkouts in preparation | p138 |
| Visa: Visa expands UK mobile payments service V.me | p140 |
| Banks: sitting tight | p141 |
| Banks: The Key Players | p142 |
| Banks: Wait And See Attitude | p143 |
| Banks: Fragmented EU Market | p144 |
| Banks: Need To Embrace Innovation | p145 |
| Paym: P2P service from UK banks, not available for on and offline payments | p146 |
| Paym: the data, 2.2m customers, £44m transactions | p147 |
| Zapp: developed by payments infrastructure company VocaLink | p148 |
| Zapp : going head to head with Apple Pay | p149 |
| Strategy: Opportunities and recommendations | p150 |
| Strategy: fraud and risk management, recommendation | p151 |
| Strategy: the business case, recommendation | p152 |
| Strategy: mobility, loyalty, payments, recommendation | p153 |
| Strategy: the advertising opportunity, recommendation | p154 |
| Strategy: the potential of personalised pricing tied to m-payments | p155 |
| Strategy: the risk of personalised pricing tied to m-payments | p156 |
| Strategy: queue busting opportunity, higher ATVs through m-payments? | p157 |
| Outlook: all eyes on Apple Pay for now... | p158 |
| Outlook: Will Denmark become the first cashless society? | p159 |
| Outlook: 2015 will see growth, but accessibility problem remains | p160 |
| Outlook: loyalty and beacon technology | p161 |
| Outlook: social networks and wearables | p162 |
| Sources | p163 |
| Table 1: KPIs: Net revenue, marketplaces, payments, enterprise, growth 2009-13 | p65 |
| Table 2: KPIs: Marketing services and other revenue, growth 2009-13 | p67 |
