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The battle over supremacy in mobile payments at POS took another odd turn in early December when Walmart launched its own offering for its own stores.  Ostensibly aimed at the underbanked--who also mostly use smartphones--the Walmart wallet uses a Quick Response Code (QR Code)--just like the CurrentC mobile wallet (in testing in Columbus, Ohio) from MCX--of which Walmart is the most influential member.

Though company officials maintain that Walmart is still committed to CurrentC, the recent and substantial cuts in interchange that the biggest merchants have obtained from Visa and MasterCard removes a lot of the pressure to use mobile payments to lower payment acceptance costs--at least for them.  Coupled with the recent financing deal from Chase Pay, new questions arise about the trajectory of tMCX--still the most interesting development in mobile payments.

Banks give a lot of reasons for providing chip cards that work with signatures, rather than four-digit PIN codes, but none of them are convincing. As pressure mounts on card issuers to offer chip-and-PIN cards, why are so many banks clinging to signatures?  It's not for better security; it DOES seem to be motivated by concerns over convenience, capability, and competition--not their customers', but their own.... 

A growing perception that EMV chipcard deployment in the U.S. is too little too late to address the country's rampant problems with payment fraud and data breaches.

 This development raises interest in an alternative approach: Address mag-stripe based problems directly, not obliquely.  It's a hedging option that most payment providers and users can embrace--if the card networks and big banks get out of the way. 

LATEST BLOGS


A growing perception that EMV chipcard deployment in the U.S. is too little too late to address the country&

Nov 24 2015


Banks give a lot of reasons for providing chip cards that work with signatures, rather than four-digit PIN codes, but none of them are convincing.&

Nov 24 2015


The battle over supremacy in mobile payments at POS took another odd turn in early December when Walmart launched its

Nov 24 2015


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