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AdvisoryBoard
Steve Sotis These affordable and efficient devices support both EMV
eProcessing Network LLC (Europay, Mastercard and Visa) and MSR (magnetic stripe
reader) card types. In addition, ePN offers simple to use
1. eProcessing Network believes that mobile payments are mobile software development kits for software developers
still emerging and the "land grab" is still wide open, with to incorporate within their software products and services.
no clear winner in sight. There are basically two forms of
mobile payments in play: mobile payments initiated by the Jeff Thorness
end user and mobile payments initiated by the merchant. Forte Payment Systems
Beyond the leverage of Apple Pay, Samsung Pay or Google 1. Today's mobile payment options have made creative
Pay, many mobile payment offerings are meeting the needs use of the technology available and are very intriguing to
of the fragmented mobile merchant market segments watch as adoption continues. One of the biggest issues I
that include "pay within the app" or "pay with an app" have noticed is that education and training are connected
in conjunction with a variety of card reader devices that in a relationship with adoption rates, and it works both
function with mobile devices. ways. In areas where there is limited adoption of mobile
payments, aspects that subsequently help advance
The profile of mobile merchants is very diverse – consisting adoption, like education and training, are lacking.
of businesses or individuals that facilitate festivals, flea
markets, garage sales, seasonal rentals – the list continues Similarly, where adoption is increasing at a higher rate,
to grow. And usage of merchant-initiated payments you'll find these aspects are better fleshed out and work
through device attachments is more readily adopted to draw even more users, thus feeding adoption rates even
than usage of in-app payments by the aforementioned higher. In this way, the options are limited in some areas
companies, at least for the time being. and tend to stay that way. In other places, you might find
that mobile payments are really taking off, and the factors
2. Technologies that create a positive merchant and that can continue this advancement are well supported.
consumer experience are emulating from software-as- Â
a-service (SaaS)-based retail/restaurant POS systems. 2. Notifications are an interesting technology that I've
These SaaS-based platforms and systems allow for unique noticed within some of the current mobile payment
vertical merchant markets to be addressed. The hardware options out there. This technology can have a significant
and software are disruptive to the status quo of the past impact on the consumer experience, as it keeps them
30 years. These SaaS-based solutions are elegant, user- engaged and updated in real time with card activity.
friendly, intuitive and affordable. They also help keep the
merchant out of PCI scope by using semi-integrated POS Additionally, both NFC and magnetic secure transmission
terminals or other in-app solutions. (MST) are fantastic. In particular, MST has great potential
based on current terminal deployment. As we continue to
The new world of "hardware" (tablets, phones) is far see the EMV rollout with NFC-enabled terminals, the gap
less expensive than the legacy hardware systems of the between NFC/Apple Pay and MST acceptance locations
past, and unlike legacy hardware, rarely requires any will shrink rapidly.
updates since the software is updated ubiquitously via the
platform. 3. There are three dominant mobile payment players:
Starbucks, Apple Pay, and Samsung Pay. These are smart,
3. Perhaps a clear winner of the mobile market will emerge interesting applications that I'm eager to keep using or to
in the future; however, it's more likely that there will be try for the first time.
several winners or technologies that are preferred by the
merchant and the end user. There is no one clear winner Starbucks, for example, has identified and mastered the
in the card issuing world, just certain card brands with user experience and essentially redefined the loyalty
more cards issued than the others. And they are ranked program. Its widespread adoption and success demonstrate
accordingly, as will be mobile payment technologies and the thoughtfulness of its design and the security of its
companies; the market ultimately will determine and position as a forerunner in the mobile game. Apple Pay
define the rankings and winners. and Samsung Pay are two other players that I'm keeping
my eye on. I anticipate these two will continue to make big
4. eProcessing Network has been involved in mobile moves in the industry.
payments since the late 1990s and has continued to evolve
accordingly. As a payments company, ePN continually 4. Yes, Forte has adapted to make room for mobile
develops and enhances technology, in particular, mobile payments and will continue to adjust as needed. We
payments. We offer an elegant payment app for merchants currently support NFC/Apple Pay at our processing core
to use in tandem with a variety of unique, state-of-the-art and are working to enable these capabilities across all of
mobile payment devices that either plug into a smartphone our solutions.
or tablet or connect via Bluetooth.
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