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Worldwide Expert 2009: Новые платежные технологии на рынке электронных денег и платежей
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Worldwide Expert 2009: Новые платежные технологии на рынке электронных денег и платежей

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Dave Birch (Consult Hyperion)

Dave Birch (Consult Hyperion)

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  • 1. N ew P a ym ent Tec hnolog ies Understanding the technology roadmap E-Money in Russia and CIS: Moscow (November 2009)
  • 2. New payment technologies—understanding the roadmap Author: Relevance Co-Founder of Consult Hyperion www.chyp.com dave.birch@chyp.com twitter dgwbirch Visa Europe Research Fellow in Payment Innovation Centre for the Study of Financial Innovation www.csfi.org.uk Chair of the Digital Money Forum www.digitalmoneyforum.com/blog Associated podcasts www.chyp.com/podcasts.php iTunes “Consult Hyperion” mkt.028/23/15 v01 [3/40]
  • 3. New payment technologies—understanding the roadmap Author: Books Digital Identity Management (May 2007) Digital Money Reader (Mar. 2009) Digital Identity Reader (Nov. 2008) mkt.028/23/15 v01 [4/40]
  • 4. Approach S etting out some areas for discus sion
  • 5. New payment technologies—understanding the roadmap Introduction Think around innovation Learn from the past Think about the future (see space coins…) Explore drivers European figures Look around Some snapshots Figure out how to get a roadmap Planning for new technology Travelex / UK National Space Centre It is the business of the future to be dangerous… the major advances in civilization are processes that all but wreck the societies in which they occur Alfred North Whitehead (1861-1947) mkt.028/23/15 v01 [6/40]
  • 6. Innovation in Payments Let’s look again at the “payments problem”
  • 7. New payment technologies—understanding the roadmap Digital Money: Where is it? Wholesale is all electronic Retail cash use is falling Slowly Cheques are to disappear This really is a first! It is difficult to introduce new payment instruments to the market when there will not be any direct chargeable returns; it is difficult for new competitors to enter the market with new services, as there is little opportunity to compete with seemingly free services — H. Leinonen in Payments Habits and Trends in the Changing e-Landscape, Bank of Finland (April 2008). mkt.028/23/15 v01 [8/40]
  • 8. New payment technologies—understanding the roadmap Digital Money: What’s driving it? Business change Follow the money Š Interest Š Fees Š Transaction charges SEPA SCF Š Downward pressure on interchange Š Non-bank pressure EU9 Payment Profits What about non-SEPA? (Source: McKinsey, 7/07) Š Transparent pricing? A common element in all the European payment systems is that they have reached a state of equilibrium by using cross-subsidies — W. de Ploey & O. Denecker (McKinsey) quoted on gtnews (3rd July 2007). mkt.028/23/15 v01 [9/40]
  • 9. New payment technologies—understanding the roadmap Cash Replacement: Why didn’t it work? Early attempts EFT-POS UK Mondex/VisaCash/SEMP/Sermepa/Danmont etc etc Paybox/Movilpago etc Limitations on acquiring side Channels to the market Overall POS density Value-added services The heyday of bank card profits may be over as officials begin to wonder if there will ever be such a thing as profits — The third issue of the Nilson Report (now a respected and long-standing source of news for the card business) in September 1970. mkt.028/23/15 v01 [10/40]
  • 10. New payment technologies—understanding the roadmap What’s different? Why now? Technology change Ubiquity of mobile phones Contactless and NFC interfaces Š Link to transit Machine-to-machine Cultural change Mobile generation Connected consumers Emerging infrastructure Does this “solve” payments? You’ll be able to keep [keys, money, ID and watch] and more in another information appliance we call the Wallet PC… Rather than holding paper currency, the new wallet will store unforgeable digital money… — Bill Gates in The Road Ahead (1995).. mkt.028/23/15 v01 [11/40]
  • 11. New payment technologies—understanding the roadmap Global technology picture > mkt.028/23/15 v01 [12/40]
  • 12. New payment technologies—understanding the roadmap Cash Replacement: Why will it work? Technology change Ubiquity of mobile phones Contactless and NFC interfaces Š Link to transit Machine-to-machine Cultural change Mobile generation Connected consumers Emerging infrastructure Does this “solve” payments? You’ll be able to keep [keys, money, ID and watch] and more in another information appliance we call the Wallet PC… Rather than holding paper currency, the new wallet will store unforgeable digital money… — Bill Gates in The Road Ahead (1995).. mkt.028/23/15 v01 [13/40]
  • 13. New payment technologies—understanding the roadmap Case Study: Bank Monitise Mobile interface SMS, Java, iPhone etc Connected to 20,000 institutions via FIS Fidelity and Metvante H&R Block example Tax rebate via bank-issued prepaid card Transaction alerts instead of call centre mkt.028/23/15 v01 [14/40]
  • 14. New payment technologies—understanding the roadmap Case Study: Bank and Operator O2 Money Visa prepaid card, energised by mobile Load n’ Go (13-18) / Cash Manager (18+) Immediate success Mass roll-out mkt.028/23/15 v01 [15/40]
  • 15. New payment technologies—understanding the roadmap Case Study: Operator M-PESA 7 million users 11,000 new customers per day Extending financial services New commerce We have not sold any sugar in months. They only want M-PESA A shopkeeper in Bukura, Western Kenya, quoted by University of Edinburgh researcher (June 2008) mkt.028/23/15 v01 [16/40]
  • 16. Making a Roadmap Models to support communication and discussion
  • 17. New payment technologies—understanding the roadmap Roadmap: Timeline Metcalfe’s Law > Reed’s Law Moore’s Law What surprises me is just how inefficient and siloed the whole payment system still is Michael Porter (author of Competitive Advantage). mkt.028/23/15 v01 [18/40]
  • 18. New payment technologies—understanding the roadmap Roadmap: Innovation in Context > mkt.028/23/15 v01 [19/40]
  • 19. New payment technologies—understanding the roadmap The impact of technology > mkt.028/23/15 v01 [20/40]
  • 20. T ha nk You For more information please visit www.chyp.com