Mobile Payments Enter A Disruptive Phase

Thomas Husson

A recent article in The Wall Street Journal mentioned that Google could team up with MasterCard and Citigroup to pursue a role in mobile payments; this is yet another indication that disruption is looming in the payment space.

In his keynote at 2011’s Mobile World Congress, Google CEO Eric Schmidt stated that “NFC should revolutionize electronic commerce as well as payments.”

What does Google have to do with payments? Well, it has already rolled out (quite unsuccessfully so far) Google Checkout. What’s different about this new proposal is that this is not just about payments: Google would embed Near Field Communication (NFC) technology in Android mobile devices, allowing consumers to make purchases by waving their smartphones in front of a small reader at checkout counters. So what? Well, NFC is more than just a payment technology; it brings mobile payments together with mobile marketing and loyalty programs. As with mobile devices in general, it helps bridge the digital and physical worlds.

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Some Observations From Finovate Europe

Benjamin Ensor

For the past few years I have watched enviously as the Finovate online financial technology show has gone from strength to strength in San Francisco and New York. So I was thrilled to hear that Finovate was coming to Europe and today I was lucky enough to go along to the show in London.

For those of you who aren’t familiar with Finovate, it’s a fast-paced format with seven-minute live demos and pitches from 35 financial technology vendors. It’s produced by Online Financial Innovations, the people behind the excellent NetBanker blog.

The big themes were:

                Money management: Figlo; IND Group;  Linxo; Lodo Software; LoveMoney.com; Meniga; Strands Personal Finance; Yodlee.

                Security: Business Forensics; miicard; SilverTail Systems; SolidPass; Voice Commerce.

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