Amazon On Personal, Connected Commerce. While there’s a concern throughout the payments and commerce ecosystem that any digital identity being presented might not be what it seems (i.e., fraudulent), that potential duality manifests into a literal one in the goals that businesses seek to achieve: protecting account data while simultaneously authenticating a customer’s identity. Karen Webster recently spoke with Sunil Madhu, Founder and CEO of Socure, about the need for a digital identity authentication solution that does not give either one of those concerns short shrift. KW: There’s a lot of attention being focused on the differences between protecting the payment stream and protecting the customer data stream. What are your thoughts on that distinction with respect to the focus on security in payments today?
SM: Most solutions in the marketplace focus on both sides of the fence, if you will. There are different sets of tools available for those two areas. That method isn’t working well anymore, for a few reasons. How GAFA Redefined the Meaning of Innovation and Our Lives. It took four companies – Google, Apple, Facebook and Amazon – to change the way consumers see financial services, customer service and shopping. Having almost nothing to do with banking, these tech giants are now directing the pace of innovation across the whole industry and redefining our expectations, putting banks on fire with their rapid pace of transformation. While an average consumer doesn’t really notice the transition, professionals have to face the reality and take the challenge that these tech folks have suddenly imposed on finance professionals. In fact, the four tech giants have become such a powerful and prominent part of society that the acronym ‘GAFA’ appeared not so long ago across the Web to describe this new ‘creature’.
It’s interesting that just 15 years ago or so, those four companies had just been founded and were struggling like any other upstart with their competitors and with the market. The corporate culture Closed ecosystem and blind loyalty Attention is money. Amazon Payments' Appeal To SMBs. 5 Shares Share Tweet Email As online retailers compare the pros and cons of using Amazon Payments, it would appear that many have found the former category to outweigh the latter.
Although Amazon does not disclose the number of businesses that offer Amazon Payments in their checkout process, a recent story by Bloomberg shares that more than 23 million eCommerce customers have used their Amazon accounts to pay for purchases on non-Amazon websites since the offering was launched in 2013.
And while some online retailers that use Amazon Payments are on the larger end of the spectrum — the Bloomberg story cites Southwest Airlines and in-flight Wi-Fi company Gogo as being among them — there is, as the outlet posits, a particular appeal for smaller businesses. As Wedbush Securities Analyst Gil Luria commented to Bloomberg: “There’s a market for selling your soul to the devil. The reason that small businesses are willing to risk that exposure (as it were)?
Amazon Payments Targets PayPal With New Partner Programme. New Partner Payment Program will let third party marketplaces accept orders paid for with Amazon Payments Amazon’s quest to be the world’s leading commerce company is to be strengthened by the launch of a new payment programme for suppliers and partners.
Unveiled at the Money 20/20 show in Copenhagen today, the Amazon Payments Partner Program offers third-party merchants a quick and simple way to integrate Amazon Payments into their operations. The free to use service in now open in the UK, as well as the US, Germany and Japan, but does require an invitation to join. Amazon relaunched its payments business in 2013 and the partner programme is the latest stage in its battle with the likes of PayPal. Previously, Amazon Payments were limited to retailers who had a present on Amazon’s site.
Now, the platform has been extended to those who have external marketplaces .The hope for them is that by accepting Amazon Payments, window shoppers will be more likely to make a purchase. Teams Up with Amazon to Expand X-Border Payments for Sellers Worldwide. When Amazon first launched in 1995 as a website that only sold books, founder Jeff Bezos had a vision for the company’s explosive growth and e-commerce domination. He knew from the very beginning that he wanted Amazon to be “an everything store.” Twenty years later, Amazon is a global powerhouse with over 200 million 3rd party sellers, which is why Amazon has teamed up with Payoneer to provide simple, fast and secure payment solutions to Amazon sellers worldwide. We are proud to announce that Payoneer will be featured within Amazon Seller Central (US and EU) as a trusted way for sellers in 24 countries worldwide to receive payment.
Until now, Amazon required sellers from top cross-border markets including China, Japan and South Korea to open a U.S. bank account to receive their disbursements. Payoneer CEO, Scott Galit discussed the exciting news today, stating: This post is also available in: Google teases on Android Pay launch plans. Google dropped a hint via Twitter about its plans for Android Pay, following speculation that this week would see its debut. “Looking forward to Android Pay? Stay tuned. #soon,” said a tweet from the official Android account. The tweet followed speculation that 26 August was to be the launch day for the payment service in the US. And The Verge spotted an Android Pay logo on a point-of-sale terminal in Subway, another fast food chain, further fuelling speculation. However, the previous thinking had been that Android Pay will appear as part of the forthcoming Marshmallow update to the Android OS, which is expected in October.
NFC-based Android Pay was first unveiled in March this year during Mobile World Congress, with Google revealing further details at the end of May. Facebook’s Free Beacons for Retailers: An Approach to Land-Grab | Let's Talk Payments. Seven months ago, Facebook introduced Place Tips by which businesses can send contextual marketing messages to people in proximity to the store. The social media giant had been testing the Place Tip feature which uses Facebook beacons. These beacons use Bluetooth technology to send a signal to the Facebook app on a shopper’s phone which helps businesses run proximity marketing campaign.
Facebook’s Place Tip feature was initially tested with a small group of businesses in New York City including the Metropolitan Museum of Art, Dominique Ansel Bakery and the Strand Book Store. Last month the company has decided to roll out the Place Tips feature beyond the testing phase. The feature is now available to all businesses in the United States. Interested business owners who want to leverage Facebook’s Bluetooth beacon technology can request for free beacons. Proximity marketing is gaining steam, but at this point, there is no major leader in the market. Kate Latest posts by Kate (see all) Google Creates Payments Platform To Manage Users’ Financial Data. Google Payments is handling users’ financial data, ranging across apps including Android Pay and Google Wallet, VentureBeat reported Friday (June 26).
The platform will now be the service tied to Google’s backend that will support all company payments products, reported VentureBeat, as Android Pay serves in-app and in-store transactions, while Google Wallet remains geared toward peer-to-peer activity. A Google spokesperson told the site in an interview that “as we prepare for the launch of our new payments products, we’re gradually updating the Web destination where people can keep track of payments connected to their Google account, such as Play, Google Express, Google Fiber.
These will now be available at payments.google.com.” But that “gradual” update appears to be coming sooner rather than later. Recent updates to the Google Wallet Privacy Notice reference Google Payments throughout, with the updated notice becoming effective tomorrow (June 30). Google misses out on transaction fee revenues. Alibaba's MyBank eschews US tech exports in favour of inhouse cloud. Chinese e-commerce conglomerate Alibaba has built an inhouse cloud-based banking platform for the online launch of its banking affiliate MyBank, eschewing products from US technology firms that have angered authorities in Beijing. While many of the country's top banks use technology from IBM, Oracle and EMC, the Chinese government is actively promoting a policy dubbed 'IOE-out', in the wake of allegations that US agencies planted backdoors in American tech exports to snoop on overseas targets.
In a presentation of its new internet banking platform, MyBank CIO Tang Jiaci said the technology specifically excluded products from IBM, Oracle and EMC, inline with the government's unofficial policy to wean local companies off US exports. Jiaci said the cloud-based platform would reduce the bank's technology costs and allow it to make cheaper loans. A Hands-Free Payments System From Google – What is it? Convenience seems to be one of the major pain points which most companies in the payments fraternity are addressing now. After Square and PayPal, even Google is focused on enabling hands-free payments. At its I/O event, the Internet search giant announced that it is testing a contemporary way to make payments (apart from Android Pay). From what it appears, customers download an app, and when checking out at a store, they don’t need even to take out the phone.
All they have to do is stand in front of the cash register and say, “I’d like to pay with Google.” This solution is currently in the testing stage. Google is partnering with McDonald’s and Papa John’s Pizza to launch the system. The service is initially being launched in San Francisco later this year and merchants interested can sign up for the beta. Video of hands-free payments which looks like a facial recognition system mashed with some in-store analytics and geo-fencing: The Many Mysteries of Android Pay. While many recent mobile payment announcements have lacked transparency, the lack of implementation details surrounding Android Pay makes any effort to handicap Google’s chances of remaining relevant in payments futile.
The details of the announcement are in this Ars Technica article “Android Pay is all about tokenization; Google Wallet takes a backseat:”“SAN FRANCISCO—On Thursday, Google officially announced a revamped version of Google Wallet called Android Pay. The new Android Pay API will be an open platform that will allow developers to incorporate payments into their Android apps. Customers will be able to pay for things in brick-and-mortar stores via Near Field Communications (NFC) or through apps. At launch, Android Pay will work in more than 700,000 store locations, although many of them have long accepted Google Wallet, including McDonald's, Macy's, and Whole Foods. Still, the rise of Android Pay doesn’t mean that Google Wallet will be cast aside. 1. What is Android Pay and a Comprehensive Analysis of all its Facets. On Level 2, session room 1 at Google I/O, at 3:00 PM yesterday, Google unveiled details of its new payments platform “Android Pay”. It meant that the U.S. mobile payments market (and global) started looking more competitive, and perhaps better for the end consumer .
With more than US$ 3.5 bn spent through this channel in 2014, the global search giant Google is hoping to make a come back after its first troubled attempt at payments, a.k.a. Google Wallet. Those of you who have been tracking this sector closely would know that, Android devices had NFC and card emulation capabilities ahead of Apple. In-fact, Google had ventured into payments four years earlier.
In early 2011, Google launched the “Google Wallet” which was described as “novel, not so perfect, and certainly not a seamless payment solution” back then by reviewers. Google could not make the best use of Google Wallet in the last few years and hence lost the opportunity. Power of Collaboration Security Highlights of Android Pay Amit. Google working on “brand new” Wallet service for Android and iOS.
By Rian Boden • nfcworld.com • Published 29 May 2015, 13:25 • Last updated 3 June 2015, 11:23 Google has confirmed it is developing a “brand new” Google Wallet app for Android and iOS that will allow anyone with a US debit card to send and receive money for free “within minutes”, even if the other person doesn’t have the app. “We have seen incredible growth in the number of people sending and receiving money to their friends and family using Google Wallet, whether from Gmail, the web or the Wallet app,” the company wrote in a Google+ post.
“So, we’ve decided to focus on making this experience even better and are working to build a brand new Google Wallet app for Android and iOS. “The money you receive can either be directly sent to your bank account or it can be spent in stores using the Google Wallet card. How Amazon Does Commerce. Amazon’s 2015 so far is a tale of big announcements, marketplace rollouts and unique takes on commerce in the hyper-connected world that’s transforming into an Internet of Things phenomenon. Amazon may have to answer to investors about its lack of profits as it continues on its “investment mode,” but it’s hard to argue that Amazon is reinventing commerce at every turn as it gets its hands into retail markets as diverse as travel, hospitality, home services and grocery, not to mention, going direct to consumers with branded commerce buttons it calls Dash. Here at PYMNTS we like to track Amazon similar to the way it wants customers to track packages with drones — with a close eye to what all of these various opportunities will deliver.
To help guide that journey, we’ve gathered up the Top 10 stories so far this year that provide a closer look into Amazon’s ecosystem for 2015. 1. Prime Turns Amazon Profitable Again (but temporarily) 2. 3. 4. 5. 6. 7. 8. 9. An Amazon patent filed with the U.S. The Many Mysteries of Android Pay. What is Android Pay and a Comprehensive Analysis of all its Facets. Google Unveils Android Pay With Big Support. Google gave a sneak peek yesterday (May 28) into the news that the payments industry has been waiting for since the launch of Apple Pay: Android Pay.
Android Pay is the latest payments scheme the Internet giant is pinning its mobile payments hopes on after Google Wallet’s failure to ignite multiple times since its original launch in April 2011. And, it enters a very crowded field of play. Android Pay, which doesn’t have a set launch day, will go head-to-head in the battle for mobile payments with Apple Pay, the forthcoming Samsung Pay, PayPal, Visa Checkout and MasterPass.
Google’s mobile wallet option will allow consumers to pay via their mobile device in store using NFC technology. The same stores that enable the acceptance of every other mobile payments technology that leverages NFC technology, including Apple Pay. Android Pay will work with any phone that has an NFC chip installed and will run on KitKat operating systems or newer. MasterCard Visa Discover PayPal/Braintree U.S. The “Why” Behind Google Buy. Technology Giants Have Started Seeing “Carrier Billing” as a Viable Payment Option. Twitter’s Commerce Strategy Remains Vague As Profit Dips. Microsoft Forays into the World of Payments; Gets Its 1st Money Transmitter License.
Is Physical Retail A Threat To Amazon? News: Google preps Gmail bill payment feature. Update: How Does Facebook P2P Actually Work? | Lets Talk Payments. Is Facebook Now Payments’ Biggest Threat? Amazon's Webstore Shutting Down. Google plans Wallet revamp with partnership ploy. Is Android Pay Next For Google? Can Google Ignite An mWallet, Compete With Apple Pay and Herd Cats? Apple Dominates Mobile Revenue. Facebook Enters the Arena of Proximity Marketing with Bluetooth Beacons.
Google Expands P2P Platform. What is the Key to Google's Success? - Techbitzz. Payment Strategy of Twitter - Techbitzz. Amazon To Pull The Plug On Its Mobile Wallet. Google Cloud Platform Attains PCI Validation. Google discusses Wallet plans. Google CEO Says Amazon Is Its Biggest Threat. Pay security and privacy overview. Has Google Given Up on Google Wallet? What’s Wrong With Social Commerce. Has Google Given Up on Google Wallet? Bill Gates Bullish On Apple Pay.
Blog - Why Apple Pay Will End Card-Not-Present Rates for In-App Purchases - Mercator Advisory Group. Apple Pay: Is it enough? Amazon shuts down P2P payments service. Biometric security means Apple can make money from mobile transactions. PayPal Was Dealt Out By Apple. Are Social Networks Really Ready For E-Commerce (And Do Users Really Want It)?
22 Patents that Indicate Apple is making Payment Foray in September. Zuckerberg says mobile payments coming to Facebook Messenger — eventuallyMobile World Live. Apple is Negotiating With Visa for iPhone 6 Mobile Payments Solution. Zuckerberg: Facebook’s Focus On Ad Revenue, Not Payments. Is Yelp + Amazon The Mobile Commerce Game Changer? PayPal Now Offering Next Day Settlement. Apple in payments: a disruptor's dilemma | Mobile Payments Today. What Apple Didn’t Say That Acquirers Should Have Heard. Amazon expands middleman role in latest online payments push. Yesterday Apple filed another NFC patent, iPhone 6 seems to be getting the contactless technology - Lets Talk Payments. Facebook faces multiple barriers to success in mobile payments.
7 big milestones that Payments Industry crossed this year - Lets Talk Payments. 800 Million iTunes Accounts … And Then What? Apple has at least twice as many credit cards on file as Amazon. Five Internet Giants Are Maneuvering To Control The Future Of Payments. A deeper look at Facebook's strengths and weaknesses to be a payments player, and What if Scenarios - Lets Talk Payments. Apple’s Cook on New Products: ‘Take the Time to Get It Right’ - Digits.
Securities analyst predicts NFC-enabled iPhone. Apple iWatch to ship with NFC this year? Apple will change consumers' behavior about contactless mobile payments.