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I recently had to make a very a difficult decision in my personal life that resonated with my professional one.

Posted by Rob Stringer, April 27, 2015 star-wars

I recently had to make a very difficult decision in my personal life that resonated with my professional one, and I was quite surprised not only at my thought process, but the result. I work in the mobile wallet space, enabling banks, card-on-file merchants, and others to have a “device and operating system agnostic platform” on which they can create a mobile payment solution that will make their customers happy and help draw new customers in and retain existing ones. I am also a life-long Star Wars fan, having gone to see the movie in the theaters when it was the only Star Wars and not just A New Hope. I believe that Han shoots first. Anyway, I digress. The digital version of all six movies (remastered) just came out, and I wanted to purchase the set, having not purchased the DVD or Blu-Ray version before. I had a quandary:…

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How Important is Off-line?

Posted by Rob Stringer, April 8, 2015 no-service

One of the many scenarios us mobile payment product people envision when we think of how someone will use our products is how our products will be used when the consumer’s device is “off-line”. When the consumer’s device cannot connect to their carrier’s data plan, how does our application and product react? Once you learn what your product does in this scenario, if the outcome is not desirable, you want to think about how often this happens, and then if this is a “blocker” or just a feature that can be added later in the release. When it comes to tokenization of payment data, this scenario is working its way through pilots and production right now, with varying degrees of success. We have taken a look at different host token technologies to see just how they would work in the off-line scenario, and the results are interesting. There are three…

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Top ten things we learned at the Innovation Project 2015

Posted by Rob Stringer, March 24, 2015 innovation-project

Last week we attended the PYMNTS.com Innovation Project 2015 at Harvard University.  This event featured representatives from companies across the globe innovating in many areas of payments, not only consumer, and from listening to this wide swath of industry experts and entrepreneurs, we came away with ten key learnings. 1)   Innovation is more than about payments 2)   Tokenization is the talk of the town, but boarding a customer is a vulnerable spot 4)   EMV is coming to the US (like it or not), but resistance and questions remain. 5)   Digital currency’s time has not yet come for the mainstream 6)   P2P payments and remittance is a growth area for many 7)   Apple Pay has reaccelerated the innovation pace for competitors across the board. 7)   The days of 60-65% margins for the card networks are in jeopardy, and undoubtedly under pressure from innovation and new entrants (MCX, Amazon) 8)   Dedicated POS…

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What Should a Mobile Wallet REALLY Be? Part 3

Posted by Rob Stringer, March 12, 2015 mobile-wallet-3

Tokens are the key that will open the door to the future Tokens have been around for a long time. But to date no token system is good enough to be the workhorse and de facto standard in mobile. Sure, there are several token providers who are strong in their niche, but we’ve yet to see wide-scale adoption of a mobile host token platform that can serve the rich and poor across multiple operating systems and meet the needs of a diverse set of use cases. To work in mobile, a token system has to be able to accomplish three things without compromise: Work off-line when the mobile device is not connected to the Internet of Things; Scale to the lowest common denominator, and Provide flexibility for multiple providers and verticals while maintaining control with the user. A strong tokenization platform that can provide all three of these pillars will…

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What Should a Mobile Wallet REALLY Be? Part 2

Posted by Rob Stringer, March 11, 2015 mobile-wallet2

Part two of three. It’s about more than payments So who will win the (real) mobile wallet wars? Who can make this vision of future reality? Not the credit card networks as credit cards are only one item in the wallet. Our position is that it has to be about more than payments, and the card networks cannot offer anything more than what they have, which is payments. Not the merchants. Not banks or associations. All of these players don’t have a wide enough charter to make the kind of sweeping impact that’s necessary. Visa wants to make money moving money. Merchants want to sell more products. None of them have a vested interest in changing the way the game is played. What all of the above players can do is help set the tone and standard for what’s to come, but after that, they will be followers, not leaders….

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