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MOBILE PAYMENTS 2015: Driving the uberisation of the economy

  • ID: 3301569
  • Report
  • July 2015
  • 163 pages
  • ResearchFarm Ltd
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Uberization means applying the Uber business model in different sectors from healthcare to real estate and food delivery, as well as financial and legal services.

It means meshing smartphones, dynamic pricing and dynamic supply to create a disruptive and delightful user experience.

We believe that the mobile payment revolution will further drive the uberisation of the economy and society towards an on-demand culture.

There is a massive opportunity for the retail sector to combine mobiles, loyalty schemes and the right payment solution - with personalized pricing only one aspect.
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Executive summary
Context: a short history of mobile payments
Mobile payments: all hype? Confusion prevents adoption
Mobile payments: the convergence on NFC
Mobile payments: all Apple Pay? ... even though NFC isn’t the best solution
Mobile payments: horizontal retailer collaboration unlikely, chance to lower fees
Mobile payments: retailer reluctance to share key data with service providers
Mobile payments: retailers as significant actors in financial services already
Context: Technology
Technologies: Near Field Communication, Complex Ecosystem Of Stakeholders
Technologies: Near Field Communication – The Least Bad Scenario For Incumbents
Technologies: Near Field Communication – Uncertain Regulatory And Legal Framework
Technologies: Near Field Communication – the push from Apple
Recent key developments
Summer 2014: WeChat launches P2P service, Amazon Local Register
September/October 2014: WeChat Quick Pay, UK retailers use Zapp
November/December 2014: Snapcash launched, WeChat’s new API, Line Pay
January 2015: Amazon Wallet folds, Line Taxi
February 2015: Google Wallet, WeChat’s red envelopes, Line acquires WebPay
February 2015: Samsung acquire LoopPay
March 2015: Alibaba, PayPal acquires Paydiant, Facebook payments, Line expansion
May 2015: Walmart in China, Starbucks hack, V.me
May 2015: MasterCard Send, UK moving towards cashless, Google’s Android Pay
June 2015: Samsung Pay delay, Denmark’s MobilePay
June 2015: UK gearing up for Apple Pay and Zapp launches
June 2015: MasterCard opens up private label cards, Samsung’s smartwatch
Company profiles – the device manufacturers / hardware providers
Apple Pay: the most likely company to get mobile wallets to gain traction
Apple Pay: off to a strong start ... from an incredibly low base though
Apple Pay: winning with issuers in December 2014
Apple Pay: breaking into travel and airplanes in February 2015
Apple Pay: continuing to win with issuers in May 2015
Apple Pay: international expansion China and Canada
Apple Pay: ...but what about retailers taking part?
Apple Pay: ...poor outlook in Europe due to different structures
Apple Pay: ... what EU banks have to consider, Apple as financial service provider?
Apple Pay: ... but all is not lost, the reputation factor
Apple Pay: ... imminent UK launch, July 2015
Samsung Pay: NFC and MST based, the LoopPay acquisition
Samsung Pay: wide retailer adoption possible due to supporting two standards
Samsung Pay: biometric function, banking partners
Verifone: introducing the service to Aldi Nord
Company profiles – the internet giants
ebay KPIs: Net revenue, marketplaces, payments, enterprise, growth 2009-13
ebay: revenue analysis – the outperformance by PayPal
KPIs: Marketing services and other revenue, growth 2009-13
Strategy – PayPal
PayPal: the jewel in the crown, moving to offline payments
PayPal: Paypal on other online platforms
PayPal: all stakes on the digital wallet?
PayPal: on course to become the number one digital wallet?
PayPal: coexistence of digital wallets and cash and card payments
PayPal: how will PayPal fare after the split? ApplePay, a stagnant innovator?
PayPal: PayPal – the opportunities after the split, new partners, new verticals
PayPal: PayPal for charities, university, QSRs, scaling up across the globe
PayPal: reduction in duplication of ebay sales teams, an acquisition target?
Venmo: PayPal’s P2P solution, making payments social
Venmo: ...soon to connect users to businesses?
Recent key developments: PayPal Here SDK, moving more into offline
Recent key developments: Braintree’s one-touch mobile payments product
Recent key developments: Microsoft and Shell UK partnerships
Recent key developments: The Paydiant acquisition, Uber partnership
Google: the wallet failure and Softcard acquisition
Google: launching Android Pay
Google: Android Pay vs Samsung Pay, Hands Free Payment
Google: similar approach to Apple, with a crucial difference
Google: trying to create a payment ecosystem, AP a way out for CurrentC?
Google: will Android Pay be all about advertising? Will it charge fees?
Amazon: local register and Amazon’s weakness in payments generally
Amazon: the mobile wallet fail
Company profiles – retailers
Starbucks: the best player in the m-payment space, data points, low AOV
Starbucks: the outstanding mobile payments retailer, US UK interoperability
Starbucks: the customer experience
Starbucks: $15bn processed in m-payments, 7m weekly transactions
Starbucks: key learnings how to make m-payment work
CurrentC: retailers trying to collaborate and do the right thing1
CurrentC: blending payments with loyalty schemes, no till upgrades needed1
CurrentC: more retailer focused than consumer focused, still not live1
CurrentC: being wrong footed by Apple and NFC1
CurrentC: PayPal’s acquisition of Paydiant, the end for CurrentC?
Yapital: white label service provider in m payment is running into trouble1
Yapital: trying to pivot on the service and launch a CurrentC type solution1
Yapital: QR code solution might be up against it
Company profiles – the social networks and messaging apps
WeChat: transforming messaging into a one-stop digital platform1
WeChat: recent key developments from P2P to offline payments in store1
WeChat: opening the API, red envelopes1
WeChat: internationalising; pay for goods, pay friends, hail taxis and chat1
WeChat: a model for Facebook, Snapchat, Venmo and Square’s P2P to emulate
Line: building an ecosystem to cater for users’ digital lives1
Line: Line Wow, food-delivery service, Line Maps, Line Taxi, but will it internationalise?
Snapcash: Snapchat teaming up with payments processor Square1
Snapcash: P2P space gets increasingly crowded
Facebook: building a P2P solution from scratch1
Facebook: no target to monetise payments but rather keep users in the ecosystem
Square: successful dongle, unsuccessful digital wallet, Square Cash1
Square: from P2P to business transactions, $Cashtags enabling donations from strangers1
Square: but how to monetise SquareCash?
Stripe: backed by PayPal founders Peter Thiel, Elon Musk and Max Levchin1
Stripe: Stripe-powered apps will be accepting Apple Pay and Android Pay in UK
The card operators: what are Visa and Mastercard up to?
Card Operators: Disruption Ahead1
Card Operators: Will Still Dominate1
Card Operators: Threat To Interchange1
Card Operators: New Bank Transfers
MasterCard Send: accelerating mobile P2P payments in quickly growing space1
MasterCard Send: a late entrant1
MasterPass: standalone digital wallet and support for other players’ platforms1
MasterPass: in-store checkouts in preparation
Visa: Visa expands UK mobile payments service V.me
Banks: sitting tight
Banks: The Key Players1
Banks: Wait And See Attitude1
Banks: Fragmented EU Market1
Banks: Need To Embrace Innovation
Paym: P2P service from UK banks, not available for on and offline payments1
Paym: the data, 2.2m customers, £44m transactions
Zapp: developed by payments infrastructure company VocaLink1
Zapp : going head to head with Apple Pay
Strategy: Opportunities and recommendations
Strategy: fraud and risk management, recommendation1
Strategy: the business case, recommendation1
Strategy: mobility, loyalty, payments, recommendation1
Strategy: the advertising opportunity, recommendation1
Strategy: the potential of personalised pricing tied to m-payments1
Strategy: the risk of personalised pricing tied to m-payments1
Strategy: queue busting opportunity, higher ATVs through m-payments?
Outlook: all eyes on Apple Pay for now...
Outlook: Will Denmark become the first cashless society?1
Outlook: 2015 will see growth, but accessibility problem remains1
Outlook: loyalty and beacon technology1
Outlook: social networks and wearables
Sources
Table 1: KPIs: Net revenue, marketplaces, payments, enterprise, growth 2009-13
Table 2: KPIs: Marketing services and other revenue, growth 2009-13
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