Apple is going after wallet makers with its new mobile payment system, called Apple Pay, which threatens to disrupt the whole industry. The digital wallet introduced last week allows consumers to make in-store and online payments using their phones -- effectively eliminating the need for a traditional wallet.
Forget the Apple Watch and iPhone 6. Apple Pay is Apple's next biggest innovation and this is why: Touch ID has the potential to finally push mobile over the hump in the U.S.
Yes, Apple has spent a good deal of time discussing the near-field-communication technology and how it is working with retail, credit card and bank partners. It was quick to point out that there are merchants ready to accept Apple Pay as a very secure payment method. But that isn't the news. Go into any Starbucks on any day and you will see plenty of mobile transactions.
The far more intriguing topic...
There’s no denying the impact that digital connectivity is having on our daily routines. It’s changed how we watch video, keep tabs on our health—even the way we connect with our favorite World Cup players. And more recently, digital is starting to transform how consumers pony up cash for their everyday purchases. And for consumers using mobile payment technology, digital is already the norm. In fact, according to Nielsen’s Q2 2014 Mobile Wallet Report, 40 percent of mobile wallet users say they use mobile methods as their primary mode of payment.
Last week we published a post looking at some of the world’s best ecommerce checkouts to see what we could learn from them.
They came from a range of industries, though they all sell consumer goods such as clothes or electronics.
One of the commenters noted that it would be useful to take a more targeted look at other industries, such asutilities, banking or insurance.
By coincidence, I’m in need of a new contents insurance policy so thought I’d ...
The way people pay for stuff is changing, and as consumers branch out beyond cash and credit, financial-services firms like MasterCard want to make sure they're provide the options. To do that, a key focus for the company is to attract younger consumers to join its Priceless program, and use the loyalty offering to develop new ways to pay -- and disseminate data along the way.
PayPal service will start accepting bitcoins, opening up the world’s second-biggest Internet payment network to virtual currency transactions.
“We’re announcing PayPal’s first foray into bitcoin,” Bill Ready, the chief of EBay’s Braintree unit, said at Techcrunch’s Disrupt SF conference yesterday. “Over the coming months we’ll allow our merchants to accept bitcoin. On the consumer side it will be a sleek experience.”
EBay, as the world’s biggest Web marketplace and ...
It’s not your logo or your slogan that defines your brand. It’s the experience your customers and prospects have when interacting with your bank through which it is truly defined.
Unfortunately, many banks still treat their brand as something owned solely by Marketing.
Of course Marketing plays a key role
Yes, it was Marketing who started it...
An old complaint is that the dollar doesn’t stretch as far as it used to. Yet these days, loyalty reward points do.
This phenomenon is not so much an irony as it is a function of innovation among loyalty operators. Businesses have for decades recognized the financial benefits of rewarding customers for their brand loyalty. Program operators across industries, from healthcare to Broadway, have launched loyalty initiatives and relied on their points, offers and other incentives to engage and retain customers.
As these newcomers change ...