The Future of Payments and Currency

5/19/2018 The Future of Payments and Currency

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THE FUTURE OF

CURRENCY

PAYMENTS &

ABRIDGED VERSIONOCTOBER 2014


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2

WHAT WELL COVER

Introduction

Trend drivers

New ways to pay

New forms of value exchange

New payment players

Appendix: More about our experts and influencers

The following is an abridged

version of JWT's Future of

Payments & Currency report. To

download the full version, please visit

JWTIntelligence.com.
http://www.jwtintelligence.com/trendletters2/http://www.jwtintelligence.com/trendletters2/http://www.jwtintelligence.com/trendletters2/http://www.jwtintelligence.com/trendletters2/http://www.jwtintelligence.com/trendletters2/http://www.jwtintelligence.com/trendletters2/http://www.jwtintelligence.com/trendletters2/


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3

INTRODUCTION

It seems that suddenly most aspects of the established payments system are on the verge of disruption.Apple Pay has just arrived, Facebook is reportedly mulling peer-to-peer payments, more merchants areaccepting bitcoin, banks are testing payment-enabled wristbands or creating pay-by-tweet schemes, andthe ranks of fintech innovators are growing.

This report examines the rise of new ways to pay and new forms of value exchange, along with newplayers in the payments space, and what it all means for brands.

Never in the history of the payments industry has there been a timeof such disruption and opportunity across regions. Digitaltechnologies will upset the competitive order and the role that

payments play both in the operations of businesses and in the daily lives of

consumers. BCG PERSPECTIVES, Global Payments 2014, Sept. 17, 2014


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4

METHODOLOGY

Our trend reports are the result of quantitative, qualitative and desk research conducted byJWTIntelligence through out the year. For this report, we also interviewed several experts and influencersin payments and currency.*

Deborah Baxley,consulting servicesprincipal, CapgeminiFinancial Services

Rob Girling,co-founder andprincipal, Artefact

EXPERTS

ANDINFLUENCER

S

Bill Maurer,dean of social sciences andprofessor of anthropologyand law, UC Irvine

Craig Erickson,creative director anddesigner, Artefact

*See Appendix to learn more about these experts.


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While technology is opening up myriad possibilities in payments and forms ofcurrency, the mobile wallet and other innovations have taken off in fits andstarts. Skeptics say consumers have little incentive to adopt new systems. ButMillennials are ushering in a new mindset: Theyre much less attached to thestatus quo than their elders and far more open to alternative ideas.

TREND DRIVERS


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TREND DRIVERS

MILLENNIAL MINDSET

DISTRUST IN FINANCIAL

INSTITUTIONS

TECHNOLOGY

DATA BREACHES

TRICKLE-UP INNOVATION

HEDGE AGAINST

ECONOMIC CHAOS


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NICK BILTON,The New York Times

TREND DRIVERS

MILLENNIAL MINDSET


INSTITUTIONS

TECHNOLOGY

DATA BREACHES


HEDGE AGAINST

ECONOMIC CHAOS


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TREND DRIVERS

MILLENNIAL MINDSET


INSTITUTIONS

TECHNOLOGY

DATA BREACHES


HEDGE AGAINST

ECONOMIC CHAOS


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TREND DRIVERS

Image credits: bitcoin;Apple

MILLENNIAL MINDSET


INSTITUTIONS

TECHNOLOGY

DATA BREACHES


HEDGE AGAINST

ECONOMIC CHAOS
https://en.bitcoin.it/wiki/Promotional_graphicshttp://www.macrumors.com/2013/09/10/apple-announces-iphone-5s/http://www.macrumors.com/2013/09/10/apple-announces-iphone-5s/https://en.bitcoin.it/wiki/Promotional_graphics


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TREND DRIVERS

MILLENNIAL MINDSET


INSTITUTIONS

TECHNOLOGY

DATA BREACHES


HEDGE AGAINST

ECONOMIC CHAOS

Recent high-profile data breaches have severely impacted consumerconfidence in the payments system and motivated retailers to seek moresecure tools. In the U.S., Neiman Marcus, Home Depot, Supervalu and, mostnotably, Target are among the prominent businesses to have suffered databreaches. These have compromised millions of credit and debit cards, withTargets breach affecting up to 110 million people.

Fear of fraud will both drive adoption of new systems and inhibit someconsumers from embracing relatively untested systems.

Image credit: businessjournalism.org 10
http://businessjournalism.org/2014/01/13/more-ideas-for-localizing-the-spreading-consumer-data-breach-story/http://businessjournalism.org/2014/01/13/more-ideas-for-localizing-the-spreading-consumer-data-breach-story/


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TREND DRIVERS

With less competition and fewer regulatory restrictions, emerging marketsserve as fertile testing grounds for new payment methods and new players.And with many consumers in these markets unbankedoutside thecommercial banking systemalternative systems like mobile money areflourishing.

Telecoms have led the way when it comes to sending and receiving paymentsvia basic cellphones. Safaricom, in partnership with Vodafone, launched themost successful of these services in Kenya in 2007. Nearly two-thirds ofKenyans now use M-Pesa, and 43% of the nations GDP moves through it.

The success of M-Pesa and similar services is prompting new ideas indeveloped markets. In the U.S., mobile carriers T-Mobile and Sprint have bothentered into the mobile money space.

Image credits: M-Pesa; T-Mobile

MILLENNIAL MINDSET


INSTITUTIONS

TECHNOLOGY

DATA BREACHES


HEDGE AGAINST

ECONOMIC CHAOS
http://www.thinkm-pesa.com/2012/04/how-to-get-your-m-pesa-mini-statement.htmlhttp://www.t-mobile.com/content/dam/tmo/en-g/marquee/landingpage-marquee-visa-desktop_v3.jpghttp://www.t-mobile.com/content/dam/tmo/en-g/marquee/landingpage-marquee-visa-desktop_v3.jpghttp://www.t-mobile.com/content/dam/tmo/en-g/marquee/landingpage-marquee-visa-desktop_v3.jpghttp://www.t-mobile.com/content/dam/tmo/en-g/marquee/landingpage-marquee-visa-desktop_v3.jpghttp://www.thinkm-pesa.com/2012/04/how-to-get-your-m-pesa-mini-statement.htmlhttp://www.thinkm-pesa.com/2012/04/how-to-get-your-m-pesa-mini-statement.htmlhttp://www.thinkm-pesa.com/2012/04/how-to-get-your-m-pesa-mini-statement.html


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Digital technology is opening up new ways to pay, many of them more seamlessand secure than traditional methods. Foremost among these is the mobilewalletusing smartphones to make purchases or peer-to-peer paymentsbutvarious other ideas are coming to fruition, including wearables (tapping awatch, scanning a ring, etc.) and biometric technology like pay-by-fingerprint.

NEW WAYS TO PAY


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MOBILE WALLETS

Broadly speaking, mobile wallet users swipe, tap, wave or otherwise prompt a smartphone to pay afterinitial setup (providing credit card or bank account information and potentially linking to various loyaltyprograms). Technologies vary but include near field communication (NFC), Bluetooth and bar codesystems. For people with little to no access to commercial banks, the advent of mobile moneytexting tosend or receive payments using basic phoneshas been a godsend.

NEW WAYS TO PAY

61

MILLION+Active mobile moneyaccounts worldwide as

of June 2013*

*Source: GSMAImage credit: Alipay
http://technode.com/2013/12/27/alipay-wallet-to-launch-8-edition-and-an-english-version/http://technode.com/2013/12/27/alipay-wallet-to-launch-8-edition-and-an-english-version/


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MOBILE WALLETS(contd.)

NEW WAYS TO PAY

61


of June 2013*

Image credits:Apple;Amazon; Google
https://www.apple.com/iphone-6/apple-pay/https://www.apple.com/iphone-6/apple-pay/https://www.google.com/wallet/https://www.google.com/wallet/https://www.apple.com/iphone-6/apple-pay/https://www.apple.com/iphone-6/apple-pay/


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MOBILE WALLETS(contd.)

NEW WAYS TO PAY

61


of June 2013*

Image credits:PayPal; Kuapay; Softcard
https://www.paypal.com/webapps/mpp/beaconhttp://www.buylocalsantamonica.com/vendors/kuapay.htmlhttps://play.google.com/store/apps/details?id=com.isis.mclient.tmobile.activityhttps://play.google.com/store/apps/details?id=com.isis.mclient.tmobile.activityhttp://www.buylocalsantamonica.com/vendors/kuapay.htmlhttps://www.paypal.com/webapps/mpp/beacon


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MOBILE WALLETS:PEER-TO-PEER

PAYMENTS

NEW WAYS TO PAY

Active mobile moneyaccounts worldwide as

of June 2013*

Image credits:Dwolla; Venmo; Ribbon; Paym

Various startups are looking to digitize peer-to-peer transactions, mostly by way of

mobile apps. Business Insider estimates the global volume of P2P payments at morethan $1 trillion annually, with only a sliver made through mobile today.
https://www.dwolla.com/abouthttp://brand.venmo.com/styleguidehttps://microventures.com/about/portfolio/ribbonhttp://www.paym.co.uk/http://www.paym.co.uk/https://microventures.com/about/portfolio/ribbonhttp://brand.venmo.com/styleguidehttps://www.dwolla.com/about


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BRANDED APPS

NEW WAYS TO PAY


of June 2013*

As banks, tech giants and new entrants vie to dominate in the mobile wallet space, Starbucksand other brands are creating their own apps, enabling frequent customers to payseamlessly. In some casesnotably with taxi services like Uber and fast food brandsthe appslet users both order and pay, reducing wait times or hassle. In other cases, as with Starbucks,the apps draw users by folding in loyalty rewards or coupons. Brands benefit by collecting

extensive customer data and drawing in impatient, cash-averse Millennials.Image credit:Starbucks
http://news.starbucks.com/news/starbucks-accelerates-mobile-payment-leadership-with-release-of-enhanced-iohttp://news.starbucks.com/news/starbucks-accelerates-mobile-payment-leadership-with-release-of-enhanced-io


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NEW WAYS TO PAY


of June 2013*

Image credit:MyCheck

DINE AND GO

Some see a role for payment apps beyond the fast food sphere, with patrons atbars and restaurants harnessing mobile to more quickly and easily settle theirchecks. Customers can tap, pay and leave without flagging down an employee;from the merchants point of view, this frees up staff and potentially opens up

tables more quickly.

MyCheck, which has apartnership with PayPal,

launched its app in

Israel in 2012 and hasmoved into a few citiesin the U.S., the U.K.

and Brazil.
https://itunes.apple.com/us/app/mycheck-us/id545739234?mt=8https://itunes.apple.com/us/app/mycheck-us/id545739234?mt=8


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WEARABLES

NEW WAYS TO PAY


of June 2013*

WearablesInternet-connected devices worn on the bodypromise an even more seamless

method of payment than mobile phones. The vision is that consumers will simply hold up awatch, tap a wristband or perhaps issue a verbal instruction to Google Glass.

Image credit: Eaze

Glasses: Some mobile-payment players are betting on consumers paying with a gesture, tapor voice command using Glass or other high-tech specs. Eaze, a startup pushing the idea ofNod to Pay, links to two bitcoin payment systems and plans to add fiat currencies.
https://paywitheaze.com/wallethttps://paywitheaze.com/wallet


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WEARABLES(contd.)

NEW WAYS TO PAY


of June 2013*

Image credits:Apple;Artefact

Watches: Several payment apps work in tandem withearly entrants on the smartwatch market. Theseinclude PayPals app for Samsungs Gear 2 andWearBucks for owners of Android Wear watches.

Wristbands:For people willing to link up credit ordebit card information, smart wristbands may have along-term role to play as a way to make fast

purchases at events like music festivals ordestinations like theme parks.
http://www.apple.com/apple-pay/http://www.artefactgroup.com/content/token-a-wallet-on-your-wrist/http://www.artefactgroup.com/content/token-a-wallet-on-your-wrist/http://www.apple.com/apple-pay/


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WEARABLES(contd.)

NEW WAYS TO PAY


of June 2013*

Image credit: Barclaycard
https://bpayband.co.uk/(X(1)S(z22023tpgbesd0xcmuh3r3fa))/default.aspx?AspxAutoDetectCookieSupport=1https://bpayband.co.uk/(X(1)S(z22023tpgbesd0xcmuh3r3fa))/default.aspx?AspxAutoDetectCookieSupport=1


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BIOMETRICPAYMENTS

NEW WAYS TO PAY

Image credits: PayPal; Biyo

The SamsungGalaxy S5enables

fingerprintpayment viaPayPals app

To improve security, businesses are starting to adopt systems that identify and

authenticate people based on physical or behavioral characteristics: iris scans, digitalfingerprints, voice prints, vein or facial maps and so on. The method is also moreconvenient for users than typing passwords, although privacy will be a concern forsome. Fingerprint recognition, the most widely used biometric system thus far, willbecome increasingly common now that Apple is embracing mobile payments.
https://www.youtube.com/watch?v=1XpAEH7ENXIhttp://biyowallet.com/http://biyowallet.com/https://www.youtube.com/watch?v=1XpAEH7ENXI


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EMAILS, TEXTSAND TWEETS

NEW WAYS TO PAY

Image credit: Popmoney

Today more and more companiesfrom startups to financial institutions and tech giants

like Googleare enabling person-to-person payments, bill payments and productpurchases via a simple message. For instance, French bank Groupe BPCE will enablepeople to tweet money to one another via its S-money mobile-wallet subsidiary, thanksto a partnership with Twitter.
https://www.popmoney.com/https://www.popmoney.com/


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WHAT IT MEANSFOR BRANDS

NEW WAYS TO PAY

Prepare for a cash-limited future

Cater to Millennials

Compel consumers to opt in

Open a personalized marketing

channel

Security and privacy above all


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A growing array of alternative currenciesranging from cryptocurrencies tolocal currencies, branded currency and social media currencyis supplementingor even replacing conventional money.

NEW FORMS OF CURRENCY

Money is always only a human creation, kind of a collective illusion Its something weinvent as societies and states and communities, and we can reinvent it if we want to.

BILL MAURER, dean of social sciences and professor of anthropology and law, UC Irvine


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NON-FIATCURRENCIES

Dollars, pounds, euros, pesos, yenthese are all fiat currencies, or legal tender. But even

with the backing of a government, their value exists only by popular consent. Soincreasingly people are thinking more creatively about what money can be, from localcurrencies to cryptocurrencies like bitcoin, which can function just as wellif not better, insome instancesas a medium of value exchange.

Local currencies are undergoing aresurgence thanks to the economic crisisand rising income inequality. A localcurrency can help to mitigate the impactof a troubled economy, stimulatinggrowth by increasing demand for localgoods while keeping money from flowingout of the area.

Image credit: Tilt

Local currencies incirculation includethe Brixton Pound

and Bristol Pound inthe U.K., the

Capivari in Braziland COjacks in

Colorado.
http://tilt.ft.com/posts/2011-09/30631/brazil-home-worlds-63-most-overvalued-currencieshttp://tilt.ft.com/posts/2011-09/30631/brazil-home-worlds-63-most-overvalued-currencies


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CRYPTOCURRENCIES

In the last year or so, a number of major businesses have started accepting bitcoin, most via

bitcoin middlemen, lending the novel currency greater credibility. And there are now morethan 250 bitcoin ATMs worldwide. Still, most consumers remain fairly skeptical about

bitcoin.


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CRYPTOCURRENCIES(contd.)

Bitcoin pros and cons: While they have serious downsides, cryptocurrenciesappeal to users for a number of reasons. They allow people to send and receivemoney around the world instantly, without the need for banks as intermediaries.This means little to no fees for processing transactions, as well as greater privacy,although cryptocurrencies are not anonymous, as is widely believed. For peoplewith little trust in government and the banking system, cryptocurrency provides away to transact without relying on either.

38%of U.S. and U.K.

Millennials are interestedin using currencies such as

bitcoin, vs. 17% of GenXers and 7% of Boomers


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CRYPTOCURRENCIES(contd.)

Experts place the number of businesses accepting bitcoin as high as 80,000

worldwide, a wide majority of which are small merchants. But some biggerplayers across categories are earning buzz by welcoming the currency, in someinstances experiencing an initial boost in sales. Most use Coinbase or anotherbitcoin middleman, shielding themselves from risk while paying much less in feesthan with credit card transactions.

Image credit: Life on Bitcoin

This crowdfundeddocumentary

follows a newlymarried couple

trying to get by onbitcoin alone.

Prominent businessesaccepting bitcoin:

Dish Network

Dell

United Way

Expedia

Overstock.com

The Sacramento

Kings
http://about.dish.com/sites/dishnetwork.newshq.businesswire.com/files/Poster.jpghttp://about.dish.com/sites/dishnetwork.newshq.businesswire.com/files/Poster.jpg


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ALTERNATIVE BRANDCURRENCIES

Social media as currency: Brands commonly offer incentives in exchange for

Facebook likes or Twitter follows. Now, with social media ingrained into the dailylives of many, some are evolving this idea by enabling consumers to acquireproducts or discounts with social media actions in lieu of cash.

Image credit: Carlsberg

Danish beer companyCarlsberg partnered with

bars in Denmark toextend happy hour fordrinkers who posted

social media photos withthe hashtag

#HappyBeerTime
http://adsoftheworld.com/media/ambient/carlsberg_happy_beer_timehttp://adsoftheworld.com/media/ambient/carlsberg_happy_beer_time


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(contd.)

Tweet-to-pay pop-up shops:

These temporary locationsprovide unique experiences thatconsumers are keen to captureand then share with theirfollowers, increasing brandengagement and stimulatingword-of-mouth.

In London, Weight Watcherscreated the Feel Good Caf,where visitors paid with socialmedia shares. And Marc Jacobslaunched a Tweet Shop whereguests received free gifts basedon their social posts.

Image credit: Weight Watchers
https://twitter.com/wwfeelgoodcafe/status/469836320165343232/photo/1https://twitter.com/wwfeelgoodcafe/status/469836320165343232/photo/1


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(contd.)

Vending machines: Along with pop-up shops, Internet-connected vending

machines are becoming a go-to source for accepting social media actionsfor payment.

Image credits: Walkers; Old Navy
http://www.dailymail.co.uk/tvshowbiz/article-2737048/Gary-Lineker-introduces-worlds-Twitter-vending-machine-crisps.htmlhttp://www.hawtcelebs.com/emma-roberts-at-old-navy-flip-flop-vending-machine-in-los-angeles/http://www.hawtcelebs.com/emma-roberts-at-old-navy-flip-flop-vending-machine-in-los-angeles/http://www.dailymail.co.uk/tvshowbiz/article-2737048/Gary-Lineker-introduces-worlds-Twitter-vending-machine-crisps.html


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(contd.)

Incentivizing good behavior: Some brands have turned positive actions on

the part of consumers into a form of currency.

Image credits:Anthon Berg; McDonalds

Chocolate brand AnthonBerg set up the pop-upGenerous Store, where

customers could earn boxesof chocolate by pledging to

do good deeds, andMcDonalds let customerspay with recycled cans.
http://popsop.com/2013/01/give-and-give/http://ddb.se/work/mcdonalds/can-currency/http://ddb.se/work/mcdonalds/can-currency/http://popsop.com/2013/01/give-and-give/


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(contd.)

Branded currency: For years, loyalty has translated into a currency of sorts, with

merchants offering Buy 10, get 1 free, airlines awarding seats to frequent flyersand so on. These loyalty schemes, including gift cards and coupons, account formore than $165 billion in purchasing power in the U.S. alone. With that much valuein circulation, some brands are reframing these offers, shifting brand loyalty into acurrency in a more traditional sense. And thanks to smartphones, disparateprograms are becoming more manageable for consumers, who can readily cash in.

Image credits:Amazon; Kik; McDonalds
http://g-ecx.images-amazon.com/images/G/01/zeroes/retail/images/zeroes-coin-dp._V353889149_.jpghttps://top.kik.com/http://a2.mzstatic.com/eu/r30/Purple6/v4/12/da/31/12da31ea-4a98-005a-f30f-c6131517311d/screen568x568.jpeghttp://a2.mzstatic.com/eu/r30/Purple6/v4/12/da/31/12da31ea-4a98-005a-f30f-c6131517311d/screen568x568.jpeghttps://top.kik.com/http://g-ecx.images-amazon.com/images/G/01/zeroes/retail/images/zeroes-coin-dp._V353889149_.jpg


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(contd.)

Products as currency: Brands have been getting creative with the age-old practice

of barter, turning their goods into currency as part of social responsibility initiativesor novel marketing ploys. For telecom brands, mobile minutes or data can serve ascurrency for consumers hungry for more phone access.

Image credits: KitKat; Vodafone

Social responsibility: To help boost tourism in aregion of Japan that was devastated by the 2011earthquake and tsunami, Nestl is enabling

travelers to use special-edition KitKat packs astravel passes on the Sanriku Railway.

Mobile airtime/data: In Egypt, Vodafone worked with

JWT to introduce airtime as a form of currency. Smallshops or kiosks in the country often substitute low-valueitems like gum and candy for small change; in a twist onthis practice, Vodafone created mobile-top-up cards insmall denominations, designing them to fit in a cashregister. These Fakka (small change) cards drove anaverage 7% rise in revenue per customer.
http://www.nestle.com/media/newsandfeatures/kitkat-for-japan-railway-recoveryhttps://www.jwt.com/en/cairo/work/fakka/https://www.jwt.com/en/cairo/work/fakka/http://www.nestle.com/media/newsandfeatures/kitkat-for-japan-railway-recovery


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(contd.)

Ad campaigns: Some brands have turned their products into currencies in ad

campaigns, framing the emotional value of their goods in a new light. To show thatHeineken opens your world, the beer-maker tasked a man with getting from InnerMongolia back home to Thailand using nothing but Heineken and a little bit of wit.

Image credit: Heineken
https://www.youtube.com/watch?v=1jponFXRHNMhttps://www.youtube.com/watch?v=1jponFXRHNM


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Barter reinforces value

Drive engagement with social currencies

Turn loyalty into instant currency

Embrace alternative currencies


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Disruption in the payments and currency sphere is opening the way for newplayers to act as intermediaries between consumers and their money. Well seeconsumer interaction with banks and other traditional financial institutionswane as newcomers offer innovative or compelling solutions. Consider that 73%of Millennials would be more excited about a new offering in financial servicesfrom Google, Amazon, Apple, PayPal or Square than from their own nationwidebank, according to Viacoms Millennial Disruption Index.

NEW PAYMENT PLAYERS


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NEW PAYMENT PLAYERS


BRANDS ASFINANCIAL

INTERMEDIARIES

Mobile operators, tech giants and others are making forays into the financial space, taking

on roles traditionally filled by banks and other financial services companies. By doing so,these companies can track spending patterns and behavior, as well as reduce interchangeand processing fees. The mobile wallet is a key driver. Mobile payment transactionsfacilitated by non-banks will increase from 1.1 billion in 2012 to 7 billion in 2015,according to a forecast by Capgemini and The Royal Bank of Scotland.

72%of North American

Millennials would be likelyto bank with at least one

nonfinancial servicescompany if it offered

banking services*

*Source: Accentures 2014 North America Consumer Digital Banking SurveyImage credits:Millicom; T-Mobile
http://www.tigo.co.tz/tigo-pesahttp://consumerist.com/2014/01/22/a-whole-new-meaning-to-mobile-banking-t-mobile-announces-money-management-service/http://consumerist.com/2014/01/22/a-whole-new-meaning-to-mobile-banking-t-mobile-announces-money-management-service/http://consumerist.com/2014/01/22/a-whole-new-meaning-to-mobile-banking-t-mobile-announces-money-management-service/http://consumerist.com/2014/01/22/a-whole-new-meaning-to-mobile-banking-t-mobile-announces-money-management-service/http://www.tigo.co.tz/tigo-pesa


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NEW PAYMENT PLAYERS


BRANDS ASFINANCIAL

INTERMEDIARIES

(contd.)

Image credits:Google; Tech for Korea

Tech companies andmessaging services are well

positioned to integratepayments systems. Google

now offers free P2Ppayments through Gmail orits Wallet app, and South

Koreas KakaoTalk recentlylaunched the PayPal-like

KakaoPay.
https://www.google.com/wallet/images/overview/send-money.pnghttp://www.techforkorea.com/2014/09/17/kakaopay-easy-mobile-transaction-app-for-south-korea/http://www.techforkorea.com/2014/09/17/kakaopay-easy-mobile-transaction-app-for-south-korea/https://www.google.com/wallet/images/overview/send-money.png


41/45

NEW PAYMENT PLAYERS

BRANDS ASFINANCIAL

INTERMEDIARIES

(contd.)

Image credits:Tesco; Walmart

Retailers: Retailers have long providedfinancial services, but some are expandingmore assertively into the space. BothMarks & Spencer and Tesco recentlystarted offering personal checkingaccounts in the U.K.

Walmart has been targeting the

underbanked. This year, the retailerlaunched a money transfer serviceenabling customers to send funds to orfrom any Walmart in the U.S. and PuertoRicoand partnered with Green Dot Corp.on GoBank, a mobile checking account

with a linked debit card.
http://www.tescobank.com/http://www.walmart.com/cp/Online-Money-Transfers/1089406http://www.walmart.com/cp/Online-Money-Transfers/1089406http://www.tescobank.com/


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NEW PAYMENT PLAYERS

FINTECH INNOVATORS

Image credits:Circle; Plastc; Ripple; Square; Stripe; WorldRemit

The payments space is moving at incredible speed, with new technologiesand startups quickly making headway while most traditional institutions lagin updating clunky legacy systems. Innovative fintech startups include thebitcoin bank Circle; Plastc, which is creating a credit card-shaped digitaldevice; and Ripple, whose open-source, distributed-payment protocol letsusers make instant payments with any currency.
https://pbs.twimg.com/profile_images/467154031182221312/mnDS-oR7.pnghttps://www.facebook.com/PlastcInc/photos/a.1397550390484882.1073741825.1397550057151582/1510153712557882/?type=1&theaterhttps://pbs.twimg.com/profile_images/3444605259/7df80b92dafa6e42ff9e28259d9f62dd.pnghttps://pbs.twimg.com/profile_images/458796011356311552/2D5G8yIo.pnghttps://pbs.twimg.com/profile_images/497432038492733440/eW6tXeq3.pnghttps://pbs.twimg.com/profile_images/506490752927416322/oMtZaXBj.pnghttps://pbs.twimg.com/profile_images/506490752927416322/oMtZaXBj.pnghttps://pbs.twimg.com/profile_images/497432038492733440/eW6tXeq3.pnghttps://pbs.twimg.com/profile_images/458796011356311552/2D5G8yIo.pnghttps://pbs.twimg.com/profile_images/3444605259/7df80b92dafa6e42ff9e28259d9f62dd.pnghttps://www.facebook.com/PlastcInc/photos/a.1397550390484882.1073741825.1397550057151582/1510153712557882/?type=1&theaterhttps://pbs.twimg.com/profile_images/467154031182221312/mnDS-oR7.png


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NEW PAYMENT PLAYERS


Boost your primary business with financial services

Pursue the underbanked opportunity

Utilize and build your network


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MORE ABOUT OUR EXPERTS AND INFLUENCERS

Deborah Baxley, consulting services principal, Capgemini Financial ServicesBaxley, who joined Capgemini in 2010, is an international payments consultant with 20 years of consultingexperience. She has performed strategy work in 14 countries for eight top global issuers and payment brands, twotop payment processors and three top bank card acquirers, and has advised companies on product direction andcompetitive positioning. She was the IBM partner responsible for strategy and change consulting for financialservices in North America and led IBMs credit card strategy in China. She is current secretary and former chair ofthe Smart Card Alliance Payments Council.

Craig Erickson, creative director and designer, ArtefactEricksons experience spans large corporate environments and small startups, including data visualization, productUX, typography, games, advertising and identity. Prior to joining Artefact, a technology product design anddevelopment company, he was co-founder and creative director of design and development studio SectionSeven. AtArtefact, hes been instrumental in the design of award-winning product concepts, from the connected home of thefuture to patient-centered decision tools for physicians.

Rob Girling, co-founder and principal, ArtefactGirlingscareer started at Apple after he won the 1991 and 1992 Apple Student Interface Design Competition forconcepts around mobile and personal computing. He then spent 10 years at Microsoft, obtaining several patents andmaking innovative contributions to Microsoft Office and Microsoft Games, eventually becoming design manager forthe user interface, brand and user experience of Windows XP. After leaving Microsoft in 2002, Girling worked as asenior interaction designer for IDEO and as the lead game designer for Sonys MAG action game. He co-foundedArtefact, a technology product design and development company, in 2006.

Bill Maurer, dean of social sciences and professor of anthropology and law, UC IrvineA cultural anthropologist, Bill Maurer serves as director of the Institute for Money, Technology and FinancialInclusion and was founding co-director of the Intel Science and Technology Center for Social Computing. Heconducts research on law, property, money and finance, focusing on the technological infrastructures and socialrelations of exchange and payment. Maurer has particular expertise in emerging, alternative and experimentalforms of money, payment and finance, their legal implications, and how they have the potential to challenge thedefinition and nature of money itself. He received his B.A. from Vassar College and his M.A. and Ph.D. from StanfordUniversity.


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THANK YOU

J. Walter Thompson: J. Walter Thompson, the worlds best-known marketing communications brand, has been

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leading edgefrom hiring the industrys first female copywriter to developing award-winning branded content today.For more information, please visit www.jwt.com and follow us @JWT_Worldwide.

JWTIntelligence: JWTIntelligence is a center for provocative thinking that focuses on identifying shifts in the global

zeitgeist. Its aim is to bring the outside into help inspire ideas beyond brand, category and consumer conventionsand to

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The Future of Payments and Currency

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