Mapa research insightseries-mobilepayments-brochure-feb14

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Mapa research insightseries-mobilepayments-brochure-feb14

  1. 1. Mobile Payments Edition 2: 10 Key Initiatives in 2014 Insight report covering key developments within the field over the last 12 months including trends, our commentary and analysis © Mapa
  2. 2. Exclusive insight into the POS mobile payments market Objectives: Methodology: The objectives for this research was to understand: As part of this report project we have researched Financial • What is the current state of play of the mobile payments services companies, telecom providers and other companies market (primarily POS) in relation to the first edition report? • How have leading initiatives evolved over the last 12 months? that are active in the mobile payments space (primarily POS) across eight European countries as well as Australia, Canada and USA. • What are the key trends and what does the future hold? The report includes a deep dive into 10 key initiatives spanning different types of providers, countries and Report structure: A. Executive Summary B. Definitions and focus areas -------1. Mobile payments related stats and estimates 2. Key findings 3. Deep dive: Spotlight on 10 real world initiatives -------Conclusion February 2014 – Page 2 technological solutions. We give extensive insight on each initiative including quick facts, business cases, our comments and opinions. In addition we highlight how they have evolved over the last 12 months. Findings will feed into internal planning and decision making processes providing inspiration as well as a tool to strengthen business cases. © Mapa
  3. 3. Sample pages from the report February 2014 – Page 3 © Mapa
  4. 4. 2 Key findings Sample page from report Mobile P2P payments inititatives evolving Telcom providers continue to collaborate During the last 12 months we have noticed a number of banking- We see telcos continue to be active within the field. Existing led initiatives, that were originally primarily P2P payments, now solutions are being extended or improved and also new ones introducing, extending or improving point-of-sale related features. are coming to market. • Barclays Pingit (p.24) are extending features for business • Isis Wallet (p.65) in the US being a joint venture between customers and the way they can get paid via the app by AT&T, T-Mobile and Verizon rolled out nationwide in customers. Initially developments were largely aimed at small November last year following a pilot in two cities. businesses. One of the most recent additions is that users can buy goods direct from adverts, billboards or at a counter by • In Spain Telefónica, Vodafone and Orange have partnered scanning a QR code – a feature that Barclays have started to with La Caixa to launch Europe’s largest commercial mobile promote to larger corporations. NFC payments system. The service will go live in February 2014 As a result of all three telcos joining the service can • Commonwealth Bank (p.16): Have launched a new flagship app reach out to 80% of the Spanish mobile phone market. combining a regular banking app with social P2P features, including the option to make contactless payments at PayPass • Weve (UK) is due to launch a mobile wallet solution before terminals (NFC sticker on the back of the device required). the end of 2014. The initiative is a joint venture between UK’s Furthermore users can now also pay paper bills in a more three largest mobile network operators EE, Telefonica UK simple manner by scanning a QR code. (O2) and Vodafone UK together representing more than 80% of UK mobile customers. • Danske Bank (DK): Launched a MobilePay initiative, similar to Barclays Pingit, in May 2013. It has been a huge success and now they are introducing P2B features including point-of-sale features. February 2014 – Page 4 © Mapa
  5. 5. 3 Deep dive: Spotlight on 10 key initiatives: Summary Sample page from report Introduction: We have identified 10 different initiatives spanning different types of providers, countries and technological solutions. The key purpose of each service is explained below. On subsequent pages we give extensive insight on each initiative including quick facts, business cases, our comments and opinions. In addition we highlight how they have evolved over the last 12 months. Where relevant we also include quotes and comments around the different initiatives. 1. Flagship app by Commonwealth Bank (AUS) 6. Google Wallet (USA) • NFC technology which requires an additional PayTag sticker • Learns and evolves from initial experiences • P2P features including pay to mobile, email or Facebook • P2P payments, phsycial card and improved checkout is new 2. Pingit by Barclays (UK) 7. Isis Wallet by Isis (USA) • P2P initiative evolving around payments and shopping • Joint venture between operators AT&T, T-Mobile and Verizon • Huge success with additional potential • The NFC wallet launched nationwide in the US during 2013 3. Sixdots by BNP Paribas Fortis (BE) 8. Square Wallet by Square • Strong collaboration between Belgium bank and telcos • Wallet links customers card to Square merchants • Adding a secure element to the MasterPass solution • Hands-free checkout option, view and redeem rewards 4. V.me introduced by Nationwide (UK) 9. SEQR (SE) • First UK bank to launch V.me to new and existing customers • POS transactions made by scanning a QR code at the counter • Slick option for e- and m-commerce checkout • Solution uses Seamless transaction platform 5. PayPal 10. LevelUp (USA) • Ongoing developments to stay ahead of competition • POS transactions made by scanning a QR code at the counter • Focus on innovating the in-store shopping experience • Focused small businesses providing relevant and timely offers February 2014 – Page 5 © Mapa
  6. 6. 3 Pingit by Barclays (UK): Overview Sample page from report Quick facts Business model Free app for iPhone, Android and Blackberry developed by While initially rolled out as a platform for Barclays customers Barclays in the UK including the following key features: only, extending Pingit to non-Barclays customers was • Available for both personal and business customers. Users primarily undertaken as a means to acquire a banking of Pingit do not have to be Barclays customers. relationship with non-customers. The launch for non- • Ability to make payments to individuals, businesses, and customers included an extensive above the line advertising charities via mobile telephone numbers, QR Codes and campaign, and this coupled with the fact that Pingit was the Short codes. first proposition of its kind in the UK, led to increased on- • Personal customers can make payments P2P payments of boarding of non-Barclays customers (approximately 80% of up to £1,500 and receive up to £5,000 a day. P2B and P2C non-customers who received a payment registered for the payments via QR or Short code can make payments of up to service). £15,000 (£30,000 for joint accounts) • Barclays Business customers can pay up to £3,000 per day and receive an unlimited amount. Nearly 6 months after the launch, the average order value of each transaction was £70, higher than NFC mobile payment services at the time which was capped at £20. In the Mapa comments September 2013 update the app was revamped to allow In nearly two years Pingit has shifted from a P2P platform to customers to pay utility bills and buy goods direct from adverts an all-encompassing tool that can facilitate mobile payments and billboards via QR code. When purchasing goods via a QR for existing customers, serve as a direct sales channel, and code the journey involves six clicks, five of which are the digits provide a high level of functionality for business users. The of the users pass code, making it a seamless payment regularity and quality of updates ensures it is always journey, which will surely increase volume. catering to customers' needs, and above all its roll out as an acquisition tool has been well utilised by the bank. February 2014 – Page 6 © Mapa
  7. 7. 3 Pingit by Barclays (UK): Promoting the service to businesses from report Sample page The business version of Pingit points at it being ’Payments acceptance in the palm of your hand’. As one way to attract business customers Barclays have included case studies of existing business users. Features highlighted on the page include: • Get paid up to £1,500 per day per customer, or up to £3,000 per day by your business customers • Business Directory Listing so that customers can find, pay and call you from within the app • Use of shortcodes (get paid without providing mobile no.) • Customers to scan ’your’ QR code wherever you want • End of day reports and easy refunding February 2014 – Page 7 © Mapa
  8. 8. 3 Pingit by Barclays (UK): Mobile checkout feature Sample page from report In September 2013 Pingit was updated with a new ‘mobile checkout’ feature. The service allows customers to scan a QR code at participating merchants which then shows the customer the price, delivery information and stock levels. Furthermore, customers can purchase the product in just a few clicks. This can certainly add value to the app and is an opportunity for Barclays to approach larger corporations with a marketing and sales tool that can position companies as ‘cutting-edge and consumer-friendly innovators’. The scan facility is accessed via the left hand side navigation. Additional insight: 'For mobile-enabled businesses, this is a great way to increase sales conversion by reducing payment input errors and increased consumer assurance at checkout,' Mike Walters, head of UK corporate payments at Barclays, said. 'It converts every bit of hard media the corporate has and can advertise on, whether that is posters, flyers, leaflets, or even a TV screen or web page, into a sales channel.‘ Link to article: dailym.ai/KwzU3G February 2014 – Page 8 © Mapa
  9. 9. Mapa insight series: Reports schedule 2014 February 2014 – Page 9 © Mapa
  10. 10. 4 Mapa insight series: Reports schedule 2014 Introduction to the reports: These eight reports (two per quarter) are aimed to cover key hot topics within the field of digital financial services. The reports have a global emphasis providing insight into the latest trends and developments. The reports aims to support investment decisions within the field providing an independent view. In addition they provide as an inspirational resource as well as it helps to increase your overall understanding and awareness of different topics. 1. Cross channel experiences- state of the market 2014 Three key questions to ask as part of the research 1. To what extent are experiences aligned (look and feel, functionality, security and communication)? 2. What is the current state of play including key challenges? 3. What are the key trends and where are we moving? Three key points for the reader to take away: 1. Up-to-date view on the current state of play 2. Understand where developments take place and key trends 3. Insight into leading initiatives 2. Digital innovations: Selling within digital banking channels – 2nd edition Three key questions to ask as part of the research 1. How do banks utilise the different channels from a sales and marketing perspective? 2. How have approaches evolved over the last 12 months? 3. What are the key trends and what does the future hold? Three key points for the reader to take away: 1. Understanding of different techniques and approaches used 2. Get a feel for where the market is moving 3. Insight into leading initiatives February 2014 – Page 10 3. Mobile banking – state of the market 2014 Three key questions to ask as part of the research 1. What is the current state of play? 2. What innovative ways have banks developed for mobile banking users in the last 12 months? 3. What are the key trends and what does the future hold? Three key points for the reader to take away: 1. Up-to-date view on developments within the mobile banking 2. Understand where developments take place and key trends 3. Insight into leading initiatives 4. The evolution of digital PFM – 4th edition Three key questions to ask as part of the research 1. What new digital PFM tools have been implemented in the last 12 months? 2. What have leading vendors accomplished over the last 12 months and where do they see the market going? 3. What are the key trends and what does the future hold? Three key points for the reader to take away: 1. Up-to-date view on developments within digital PFM 2. Understand where developments take place and key trends 3. Insight into leading initiatives © Mapa
  11. 11. 4 Mapa insight series: Reports schedule 2014 5. Digital innovations: Engaging and onboarding business banking customers – 2nd edition Three key questions to ask as part of the research 1. What are banks doing to segment their offerings and make them more relevant and appealing to customers/prospects? 2. What are banks doing to engage customers/prospects and by that draw them into the website? 3. How have techniques and approaches in relation to point 1-2 evolved over the last 12 months? Three key points for the reader to take away: 1. Understand how retail banks worldwide try to engage prospects in the digital space 2. A review of niche features available to business banking customers 3. Insight into how retail banks worldwide utilise the digital channels to generate new customers 6. Tablet banking report series – 6th edition Three key questions to ask as part of the research 1. What is the current state of play in relation to edition 1-5? 2. What innovative features and experiences have banks developed for tablet users in the last 12 months? 3. What are the key trends and what does the future hold? Three key points for the reader to take away: 1. Up-to-date view on developments within the tablet banking 2. Understand where developments take place and key trends 3. Insight into leading initiatives February 2014 – Page 11 7. Digital banking security report – 3rd edition 3 key questions to ask as part of the research 1. What innovative and different initiatives are currently available? 2. How will these initiatives affect the customer experience? 3. What are the key trends and what does the future hold? 3 key points for the reader to take away: 1. Up-to-date view on developments within the field 2. Understand where developments take place and key trends 3. Detailed insight into activity from banks worldwide 8. The evolution of point-of-sale mobile payment services – 3rd edition 3 key questions to ask as part of the research 1. What is the current state of play of the mobile payments market in relation to edition 1-2? 2. What new services have come to market (and being scrapped) in the last 12 months? 3. What are the key trends and what does the future hold? 3 key points for the reader to take away: 1. Up-to-date view on developments within the mobile payments sphere (point-of-sale only) 2. Understand where developments take place and key trends 3. Insight into a range of innovative and different initiatives Next steps: If you are interested in finding out more about the reports including purchasing options please do get in touch with Edward Chatham: edward@maparesearch.com © Mapa
  12. 12. About Mapa February 2014 – Page 12 © Mapa
  13. 13. 4 About Mapa Subscribe to our dashboards or use our free social media resources to keep ahead of the game OUR CLIENTS Go to our news section on our site and subscribe to the RSS feeds www.maparesearch.com/news/rss Follow what we are saying on Twitter www.twitter.com/maparesearch Join our LinkedIn Group: Digital Banking Innovation The best way to get in touch is to email the author: Niklas Olsson, Senior Consultant, or Edward Chatham, Managing Director: niklas@maparesearch.com edward@maparesearch.com Or give us a ring on: + 44 (0)207 566 3940 February 2014 – Page 13 © Mapa

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