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Table of Contents

Lead Story

How to keep tabs on reps, merchants – Part 2

News

Industry Update

Report tells acquirers how to stay in the game

Name for ATM payment hub

Trouble for UC in the U.K.?

Bitcoin kiosks enter marketplace

'Hands-free' payments beckon

Selling Prepaid

When Big Data meets fulfillment

Features

Opportunities on mobile horizon

Views

Visa's new third-party registration fees – unintended consequences

Ken Musante
Eureka Payments LLC

Tackle risk vectors to improve portfolio performance

Ross Federgreen and Ed Barton
CSR / G2 Web Services

Education

Street SmartsSM:
It's not what you say

Dale S. Laszig
Castles Technology Co. Ltd.

Busting myths about change

Jeff Fortney
Clearent LLC

Evaluating payment gateway performance

Chandan Mukherjee
PayCube Inc.

Company Profile

Cutter LLC

New Products

Funding approval in minutes

CAN Mobile Funder
www.capitalaccessnetwork.com

Seamless QuickBooks integration

ePNSync
www.eprocessingnetwork.com

Inspiration

Roll out the welcome mat at work

Departments

Letter From the Editors:

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

September 23, 2013  •  Issue 13:09:02

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The Mobile Buzz
Opportunities on mobile horizon

When merchants ponder their way forward with mobile payments, the one thing they know for sure is that consumers are starting to expect the option of paying for in-store purchases with mobile devices. It is left to merchants and their service providers to figure out the rest.

An August 2013 white paper from VeriFone Inc. recognizes that merchants need help in understanding the mobile payment options and need guidance when deciding which ones are right for them. In Keeping Pace with Mobile Payment, VeriFone likened the developing mobile payments sphere to the fragmentation of the PC and cell phone markets in the early days, when confusion and skepticism were prevalent. "[B]ut today life without either is unimaginable," the paper stated. "Mobile payment is following a similar path." NFC and one-rate-fits-all The mobile payments landscape is indeed fragmented, with no scheme or player dominating. VeriFone said larger merchants seem destined to adopt near field communication (NFC) -based mobile contactless payments as a by-product of the transition from the mag stripe card to the Europay/MasterCard/Visa chip card standard.

NFC-enabled POS devices and other mobile applications will help large retailers "expand their reach beyond the countertop and find new ways to enrich the shopping experience," VeriFone said. Smaller, independent merchants have taken a different path, however. They routinely adapt smartphones to accept mobile payments and pay providers a flat fee for processing. But, as VeriFone pointed out, that fee grows less cost effective the more card-based transactions a merchant conducts.

VeriFone said that, despite these trends, many small to midsize merchants are hesitant to proceed for fear of becoming locked-in to solutions that could prove obsolete in the fast evolving ecosystem. VeriFone noted that the "promise of mobile payments and related applications is too great to ignore and those who do so risk losing customer loyalty to more adaptive competitors."

The good news is that once merchants take their first steps into mobile payments, a rich array of value-added services will follow – services such as couponing and loyalty applications that VeriFone is confident will create new opportunities for merchants and consumers alike.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Impact Paysystems | Electronic Merchant Systems | Board Studios