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2016 Payments Predictions

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As we kick off 2016, what will Financial Institutions and the FinTech disruptors focus on from a payments perspective? What and who will be the winners and losers when it comes to mobile payments, mobile wallets, digital payment solutions, cryptocurrencies and blockchain? CG’s Emerging Payments Leads Jim McLeod and Sam Maule share their thoughts on these topics with David Brear, the Chief Thinker at London’s Think Different Group. Watch the full video: https://www.youtube.com/watch?v=GUnf0OtE6bI

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2016 Payments Predictions

  1. 1. INSPIRED TO HELP YOU SUCCEED PredictionsPayments 2016 by Sam Maule, Jim McLeod and David Brear
  2. 2. What does the future hold for payments in 2016? Mobile Wallets EMV Rollout Investments Blockchain/Bitcoin U.S. Faster Payments
  3. 3. INSPIRED TO HELP YOU SUCCEED3 INSPIRED TO HELP YOU SUCCEED3 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. It’s easy to see that there is going to be a lot of confusion in the market.“MOBILE WALLETS David Brear Chief Thinker, Think Different Group
  4. 4. INSPIRED TO HELP YOU SUCCEED4 INSPIRED TO HELP YOU SUCCEED4 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. MOBILE WALLETS Apple will start to take significant steps away from app-based payments and toward the full integration of Apple Pay into iOS. The current non-contextual and siloed payment processes leave much to be desired from a customer experience perspective – for Apple Pay, as well as bank wallets, retailer wallets and beyond. A fully agnostic (within iOS) and highly contextual payment process would provide a much richer customer experience and offers Apple greater control over a seamless interface. For example, imagine if Apple Pay were integrated into the keyboard built into iOS. This could easily be called upon regardless of what app (Twitter, WhatsApp, Messenger, etc.) the user is in. Plus, it would massively expand Apple’s opportunity and protect the company from challengers that are bound to the social payments space in 2016. Dark Horse Prediction David Brear Chief Thinker, Think Different Group
  5. 5. INSPIRED TO HELP YOU SUCCEED5 INSPIRED TO HELP YOU SUCCEED5 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. EMV ROLLOUT Fraud may go down in one area but it’s going to go up in a bunch of others.“Jim McLeod Emerging Payments Practice Co-lead, Carlisle & Gallagher Consulting Group
  6. 6. INSPIRED TO HELP YOU SUCCEED6 INSPIRED TO HELP YOU SUCCEED6 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. EMV ROLLOUT While we rarely like to think about the “what ifs” in a negative light, it is hard not to think about how EMV adoption could adversely affect the landscape of brick and mortar retail. There are many large retailers that are teetering on the verge of existence and many mid- size retailers struggling to keep their position, let alone gain ground. With the rollout of EMV and the resulting liability shift to the retailer, I fear a breach in 2016 at one of the above- mentioned retailers that did not properly adopt EMV will force a shutdown of multiple locations – or even worse, a complete shutdown. Dark Horse Prediction Jim McLeod Emerging Payments Practice Co-lead, Carlisle & Gallagher Consulting Group
  7. 7. INSPIRED TO HELP YOU SUCCEED7 INSPIRED TO HELP YOU SUCCEED7 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. INVESTMENT We’ll continue to see money pour into the fintech space, especially from the VC side. “Sam Maule Emerging Payments Practice Co-lead, Carlisle & Gallagher Consulting Group
  8. 8. INSPIRED TO HELP YOU SUCCEED8 INSPIRED TO HELP YOU SUCCEED8 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. They don’t call it a long shot for nothing, so I’m going for the ‘Hail Mary’ of predictions. In 2016, either Amex or Discover will be acquired by a competitor or tech titan. Potential buyers of Amex want its merchant and consumer base, brand recognition and internal talent. Discover is an attractive acquisition target because of its long-standing relationship with China Union Pay. I also predict that Google will partner with (or acquire) a leading payment provider to compete digitally with Amazon. INVESTMENT Dark Horse Prediction Sam Maule Emerging Payments Practice Co-lead, Carlisle & Gallagher Consulting Group
  9. 9. INSPIRED TO HELP YOU SUCCEED9 INSPIRED TO HELP YOU SUCCEED9 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. was probably the most overhyped thing to come through in 2015. The interesting thing; however, is it can probably live up to the hype. “BLOCKCHAIN David Brear Chief Thinker, Think Different Group
  10. 10. INSPIRED TO HELP YOU SUCCEED10 INSPIRED TO HELP YOU SUCCEED10 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. BLOCKCHAIN While 2015 was the year of experimenting with the blockchain, 2016 will be the year of doing! Banks will start taking their blockchain experiments out for a spin in 2016. While it is very unlikely we’ll see a customer-facing product built on the blockchain, banks have been experimenting with a number of internal use cases for blockchain technology. My big bet on this one is that something magical happens in the Trade Finance space first – probably with a central body running the guts of it. There are a number of promising startups in Europe and beyond that have very sensible answers to these problems. With a central body orchestrating, it could strip hundreds of millions in operating waste from the companies that get on board. Dark Horse Prediction David Brear Chief Thinker, Think Different Group
  11. 11. INSPIRED TO HELP YOU SUCCEED11 INSPIRED TO HELP YOU SUCCEED11 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. There will be significant attention paid to global remittance.“FASTER PAYMENTS Jim McLeod Emerging Payments Practice Co-lead, Carlisle & Gallagher Consulting Group
  12. 12. INSPIRED TO HELP YOU SUCCEED12 INSPIRED TO HELP YOU SUCCEED12 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. FASTER PAYMENTS Early Warning’s capabilities – along with ClearXchange’s network – will allow the company to compete in the P2P space with Silicon Valley competitors, while it continues to lead the charge on faster payments. While the Fed and its task force continue to make strides, ClearXchange may make us all forget about movements towards Same Day ACH. Their network, along with some focus, could propel ClearXchange to the platform and company we all thought it had the potential to become when it launched in 2011. Dark Horse Prediction Jim McLeod Emerging Payments Practice Co-lead, Carlisle & Gallagher Consulting Group
  13. 13. INSPIRED TO HELP YOU SUCCEED13 INSPIRED TO HELP YOU SUCCEED13 © 2016 Carlisle & Gallagher Consulting Group, Inc., an NTT DATA Company. Proprietary and Confidential. Mobile Wallets: 1:50 – 9:00 EMV: 9:18 – 15:50 Investments/Acquisitions: 16:01 – 22:30 Bitcoin/Blockchain: 22:50 – 29:20 Faster Payments: 29:32 – 36:00 Watch our payments experts discuss each topic: https://www.youtube.com/watch?v=GUnf0OtE6bI
  14. 14. David Brear Chief Thinker, Think Different Group @davidbrear Jim McLeod Emerging Payments Practice Co-lead, Carlisle & Gallagher Consulting Group @jimgmcleod Sam Maule Emerging Payments Practice Co-lead, Carlisle & Gallagher Consulting Group @sammaule Contact the payments experts:

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