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Archive for the ‘Points and Rewards’ Category

MasterCard Gives Sneak Peek Into Mobile Payments Future | PCWorld Business Center

Google Wallet will work on PayPass terminals already deployed in stores, though some of the terminals will need an upgrade to work with the applications, according to officials at the demonstration. In the U.S., there are about 150,000 retail locations equipped with PayPass terminals, according to Kathleen Reilly, vice president and senior business leader at MasterCard, who said the Google Wallet application will be rolled out “within weeks.”

Up to now, the PayPass terminals have worked with NFC chips embedded in cards or special stickers placed on the outside of mobile devices. However, chips embedded in mobile phones offer big advantages, according to Mario Shiliaski, senior vice president of Innovative Platforms.

“A big advantage is that the chips are embedded in secure elements in the hardware, and if they are compromised they are designed to self-destruct,” Shiliaski said.

In addition, there will be a range of complementary applications for the technology that users will be able to download, Shiliaski noted. Google Wallets will initially offer the ability to store electronic coupons that can be redeemed at retail outlets, he said. Later this year, MasterCard’s inControl will be available for download, he added. InControl is designed to let parents or employers establish parameters for when, where and how their cards are used. Users will get text messages, for example, when certain limits are met.

Major retailers including Macy’s, Walgreens, Subway, Noah’s Bagels, American Eagle, Bloomingdale’s, Peet’s Coffee and Toys ‘R’ Us have signed up to work with Google Wallet.

via MasterCard Gives Sneak Peek Into Mobile Payments Future | PCWorld Business Center.

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Will ModoPayments Finally Monetize Check-In? | TechCrunch

It has often been stated that mobile payments are a solution searching for a problem. Indeed, what is the big deal about pulling a card out of your wallet vs. pulling your phone out of your pocket, to transact? Where is the value to drive the mobile payment other than convenience?Modo thinks it has to do with offers and they have integrated a framework for redeeming merchant offers with their payments platform. This makes sense to me. If I had to choose between paying with my Visa card in my wallet or my Visa on my phone that also happens to give me a big discount on the purchase I think the choice is obvious. So right out of the gate, ModoPayments has tied a distinct consumer value proposition to their service in order to drive usage they hope. Google Wallet has a similar concept. It will definitely be a motivator.The platform makes it possible to, in the words of Bruce, “generate a mobile payment transaction at any location that accepts either Visa or MasterCard with no change to POS and no change to the phone that uses ModoPayments.” It can exist as an SMS or native app solution; customers can choose either touchpoint.

via Will ModoPayments Finally Monetize Check-In? | TechCrunch.

Ifeelgoods Raises $6.5 Million To Ride The Facebook Credits Wave

In a couple of days, Facebook will require game developers to implement its Facebook Credits currency, as announced in January 2011 much to the dismay of some developers, although we should also note that several juggernauts, including Zynga, EA and RockYou, were already on board.This morning, Ifeelgoods is announcing that it raised $6.5m to strengthen its offering ahead of the July 1 Facebook Credits implementation deadline. Ifeelgoods offers a platform that allows retailers to provide Facebook Credits as marketing incentives in their online stores.Basically, Ifeelsgoods wants to make online retail promotions more effective and less expensive for sellers by having them hand out credits for virtual goods from popular social games in lieu of traditional promotions such as discounts, coupon codes or gifts.

via Ifeelgoods Raises $6.5 Million To Ride The Facebook Credits Wave.

Payments Disruption in Action — Payments Views from Glenbrook Partners

Every so often, we can be witnesses to disruptive innovation in action. It’s exciting when it happens – for those who see it. Alas, most don’t see it – although they will eventually. Which pair of glasses are you peering through?For those who can see it, there’s disruptive innovation in action at the moment in the merchant acquiring sector of the card payment system. The pieces on this particular game board are beginning to be moved around.In one case, it’s the result of the combination of powerful technology Apple’s iOS platforms in the the hands of skilled designers and engineers from outside the traditional card payment system. They’re taking a beautiful new and powerful platform and shaping it to accelerate change in a stodgy legacy world. Envisioning a new world that leaves the legacy behind. After all, why not?In another case, one of the important incumbents is reshaping its approach to an increasingly important corner of the market. It’s adapting to the new conversation that market has been having with stakeholders and beginning to evolve its traditional model into a next generation solution.I’m reminded once again of the Albert Camus quote: “Great ideas come into the world as gently as doves.” There’s a bit of fluttering going on – all around. Can you see it, feel it? Are you adapting/adjusting or just sailing along?

via Payments Disruption in Action — Payments Views from Glenbrook Partners.

Google Unveils Wallet And Offers: An Open Platform For Mobile Payments

Important development with profound ramifications for Moneeey Inc, …. enabling offers and payment using granular money substitutes

…With Wallet, you’ll be able to add your existing credit cards though only Mastercard is a partner right now of the major card companies. And it’s a wallet you can lock, Tilenius notes. There are multiple levels of security. There’s the phone lock, a required Google pin, credit card information encryption, and your credit card number is never fully displayed.Right off the bat, Google Wallet will work with Mastercard Paypass. This means right now 300,000 merchants around the world and 120,000 in the U.S. are technically ready though it’s not rolling out everywhere yet. It will initially work with “Gcard” a Google pre-paid card set up by Mastercard.The initial trials will be in San Francisco and New York. Tilenius says this will expand nationally in the coming months.The other component of the announcement is Google Offers. These work seamlessly with Google Wallet. You find an offer you want, save it to Wallet with a click and you’re ready. You can redeem them by tapping the phone at the point of sale. Or you can show the offer to a cashier.Initially, Macy’s, Subway, Walgreens, Toys R Us, and more are partners. The first trial programs will be in San Francisco, New York, and Portland this summer.Tilenius notes that the first offers will be “offer of the day” but notes that “this is just the tip of the iceberg.” Eventually, there will be check-in offers, offer ads ads on Google that are really offers that you can easily transfer to Wallet, and others.

via Google Unveils Wallet And Offers: An Open Platform For Mobile Payments.

Grappling With Groupon — Payments Views from Glenbrook Partners

Last weekend, my wife and I stopped into a downtown Spokane restaurant and I noticed on their Chalkboard a message to Groupon customers, pointing out some of the features and limitations of their Groupon coupon. I asked the proprietor about their Groupon experience. She said she was very surprised by the number of sales, which approached 1000 customers, but was ambivalent about the whole deal, believing a lot of the purchases were made by deal-hunters versus the attractive new customers she was hoping for. She also mentioned another local restaurant which had sold over 2,000 certificates… and was worried about their success in a program that nets them about 25% in face value for each coupon sold.

I think it’s great that small, local merchants can use Groupon to offer marketing deals and potentially attract new customers… but I also worry for them. My worst case scenario is that the unique community merchant down the street signs up for a Groupon deal expecting a few new customers, but instead finds thousands of coupon-bearing price shoppers walking through the door, slowly, slowly putting that merchant out of business.

Small business owners, like the ones featured by Groupon, have to wear many hats each day: CEO, CIO, CTO, COO and CMO to name a few. As such, it will be the rare owner who has the time to sit down and really think through the consequences of a “successful” Groupon campaign on their business — both positive and negative — and make sure that the deal they negotiate with Groupon is a good deal for all parties concerned. I think this will happen more frequently over time, as the merchant community gets more familiar with these kinds of deals, and more deal performance evidence, both anecdotal and data-driven becomes known.

…But in the meantime, to all of my local, favorite Spokane merchants, please, before you do your next Groupon deal, make sure that you think long and hard about how your business will be affected if a whole lot of new (and existing) customers are standing at your door with their 75% off (to you) coupons!

via Grappling With Groupon — Payments Views from Glenbrook Partners.

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