March 20, 2015
Here's what you missed on LTP this past week, March 16, 2015 - March 19, 2015:
E-commerce Giant Alibaba is adding a facial recognition feature dubbed Smile to Pay to its mobile payments service Alipay.
Square is shutting down Square Order, an app that allows consumers to pre-order food and beverages for pickup from local merchants. This may be in favor of a different system, as Square recently acquired Caviar, which connects restaurants with an outsourced delivery service.
We covered all the relevant payments and digital commerce news from SXSW, including a comprehensive compilation of the finalists in their accelerator.
Apple Pay’s list of supporters is growing larger everyday. Here is a list of some recent additions to the Apple Pay family:
PayPal is adopting the Deep Learning approach to strengthen its cyber security, thus making itself a more difficult target for cyber-attacks. Deep Learning systems utilize an artificial neural network of algorithms to learn and adopt.
Banks are not very keen on growing the remittance business. We have compiled a list and analysis of banks around the world that have closed their remittance services. Regulatory, policy, and business model issues, among other things, are causing problems on a micro and macroeconomic level.
Starbucks customers across the U.S. can now order their favorite beverage from their phone, and it will be ready and waiting for them at a specified Starbucks location. The service, called Mobile Order & Pay, is seamlessly integrated into Starbucks’ mobile app and rewards loyalty program as well.
Lyft users can now pay for rides using Google Wallet. At the end of each ride, passengers can add a tip, then submit their payment. Lyft recently added OneTouch support to it’s app, and may continue adding support for other mobile wallets.
Swatch, the popular Swiss watchmaker, is planning to release a new line of smart watches that will incorporate NFC to enable mobile payments, dubbed Swatch Touch. With the line between fashion and technology blurring as a result of the recent popularity of wearables, Swiss watch makers are feeling the heat.
Facebook has now integrated a payment feature into its Messenger app. On other global platforms, this has been done many times before, but within the U.S. this is a pioneering capability.
IBM is rumoured to be in talks with central banks about the creation of a blockchain based currency. Blockchain is the concept that powers Bitcoin. This project is currently in early stages of development.
Xiaomi, a smartphone company, is looking to make bold moves in the mobile wallet space. They have already partnered with financial institutions in an effort to work towards these goals. As seen in larger smartphone brands, entering the mobile wallet space seems to be a new focus for these companies.
Here are a few use cases highlighting the next generation of retail experiences: