Category Archives: Amazon

Commerce is a conversation

Last week I joined Sherri Haymond of MasterCard and Bharathi Ramavarjula of Facebook on a panel moderated by Paul Moreton, for a CapitalOne summit on Payments. When asked what was more important for the future of commerce – Sherri spoke of how security and trust is key, and I talked about how messaging has intersected with payments, (and in Wechat’s case) now intersecting with lending – with Bharathi eloquently summing it up as – “Facebook sees Commerce as a conversation”. Continue reading

Dumb pipes and Wide moats: Networks and Tokens

For Apple Pay, tokenization is the process by which card information is protected and subsequently shielded from the merchant and other parties in the transaction flow – till it reaches an entity equipped to reverse the translation and submit the authorization for bank approval. With AP – this role is entirely owned by the card schemes, even though the specification put forth by EMVCo places no such stipulations and allows third party “Token Service Providers” to exist. Apple is said to have welcomed “non-card scheme TSP’s” to operate within Apple Pay for a couple of reasons – the ability to support non-payment tokens as well as a hedge against putting all its eggs in one basket. For network TSPs like V and MA – tokenization represents a real advantage that dis-incentivizes disruption, while opening their rails to far more potential than just payments. Continue reading

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MCX Part II – Waiting to Exhale

Solipsism of Payments

For an ecosystem that has been described as unfair and out of balance, creating a prevailing atmosphere of mistrust, the payments industry should really look to the MacWorld Expo of 1997 for lessons to its future.

“We have to let go of this notion that for Apple to win, Microsoft has to lose.”

What Steve Jobs meant was that for Apple, this was not a zero-sum game. Apple dominated in the years since, by creating new markets, and devices that captured both minds and marketshare. Continue reading

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Seven clicks to None: Paypal’s changing raison d’etre

Logistics

On Friday, a story caught my eye. No, it was not the “rumored” Apple entry in to mobile payments. That is a post yet to be written. This was actually a story on the ReadWriteMix with David Marcus of PayPal. And the direction indicated by David Marcus for Paypal – even if it were simple, incremental improvements to the checkout process – portends important things for Paypal, and more so for its merchants – both online and offline. To me, it seemed like David Marcus was challenging Paypal to step out of its comfort zone and find its relevance in retail – once more. Continue reading

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There and Back again – A customer journey with Paypal

I remember creating my Paypal account back in 2000 when an acquaintance of mine wanted to split the lunch tab with me, and sent me $20 via email a couple of days later. I remember hurriedly opting to cash out via check, having little trust in a newfangled payment startup. That $20 actually languished in said Paypal account (despite issuing a check that ended up never being cashed) for another couple of years before I actually did something with that money and my Paypal account. What follows is the rest of that journey. Continue reading

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