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Rio 2016 Summer Olympics Wearable Tech Track Field Phelps Jacket Cycling Rowing Crew Visa
Clothing, Olympics, Shoes, Sports, Wearable Technology

Wearable Tech Found At The Rio Summer Olympics

August 4, 2016

Rio 2016 Summer Olympics Wearable Tech Track Field Phelps Jacket Cycling Rowing Crew Visa

In less than 2 days the first medals will be handed out at the 2016 Summer Olympics in Rio. In the 4 years since London’s 2012 Games, wearable technology has emerged as a vital aspect of sports. From training to game day, technology is helping athletes realize their peak potential and even provide a competitive edge. The wearable tech being used isn’t just smart watches and connected devices. It also includes cutting edge fabrics and 3D printed accessories. Head past the break to find some of the technologies being used at this summer’s Olympics.  

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by Doug Parker
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MCX CurrentC Postponed Failed Dead Mobile Payment NFC
Retail

NFC Future Bright As Mobile Payment Provider CurrentC “Postpones” Launch Again

May 17, 2016

MCX CurrentC Postponed Failed Failure Dead Mobile Payment NFC Walmart Apple Pay Android Pay

Way back in 2012, the world of mobile payments was new, exciting, and largely uncharted. Companies were posturing to figure out what the future of the payments would look like. NFC tech in phones was a fledgling technology and was far from a sure bet for payment tech. It was during this time that a collection of merchants called the Merchant Payment Consortium (MCX) was formed to create their ideal payment system. Paramount for the new system was the ability to collect user data and avoid credit card processing fees. Based on QR codes, the sharing of data between merchants, and direct withdrawals from the user’s checking account, the CurrentC mobile payment system was created. Four years later and still struggling to come to market, MCX finds CurrentC the odd man out.

MCX has just announced that it will postpone the launch of CurrentC. The postponement feels rather permanent as no timeline or next step was provided by MCX. In fact the Consortium simultaneously announced layoffs and a change of business direction. The layoffs appear to be significant, involving around 30 people which seemingly represents around 1/3 of the company’s staff. Looking through the double-talk and corporate jargon of the press release, CurrentC essentially has one foot in the grave. According to the company, the decision was made “utilizing unique feedback from the marketplace and [the] Columbus pilot.” Not sure what this “unique” feedback was, but the “marketplace” has been decidedly vocal against the payment system for some time. The QR system was overly complex, the lack of privacy concerning, and the ability for merchants (or hackers) to draw directly from a bank account scary. By contrast, competing mobile payment systems almost universally rely on contactless NFC tech that hides user data and tokenizes credit card information, valuing privacy above all else.  

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by Doug Parker
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Chase BoA Bank of America Wells Fargo ATM eATM NFC Apple Pay Android Pay Samsung Pay
Business, Retail

Why Mobile Payment ATMs Signal The End Of Debit Cards

February 3, 2016

Chase BoA Bank of America Wells Fargo ATM eATM NFC Apple Pay Android Pay Samsung Pay

While paying for things at retail is getting simpler and faster everyday thanks to mobile payment systems such as Apple Pay, the ATM experience has only gotten worse over the past 6 months. The introduction of the EMV chip on debit cards means we have returned to the olden days, where ATMs hold onto your card until the transaction is complete. Recently, while I was waiting the 30+ seconds it now takes for the cash machine to simply read my card, I pondered, “Wouldn’t it be amazing if I could just walk up to an ATM and use Apple Pay / Android Pay to get my cash out.”

Either the ATMs are mic’d or I am not the only one who has thought this because 3 out of the 4 largest US banks almost simultaneously announced that they plan to roll out contactless-payment ATMs. Chase, Bank of America, and Wells Fargo will all begin the process of upgrading their machines this year. BoA will be the first to market, intruding NFC equipped terminals by the end of February at selects retail banks in NYC, Charlotte, Boston, Silicon Valley, and San Francisco. Though the bank has told employees not to disclose which mobile payment services it will be compatible with, it is tough to imagine that the ATMs won’t at least support Apple Pay and Android Pay. If a bank’s debit card is already compatible with a mobile payment service, integration should be trivial. (Perhaps Apple is asking banks not to announce Apple Pay integration so the company can make a big announcement at their rumored upcoming March press event.)  

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by Doug Parker
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Swatch Bellamy China US NFC mobile payment watch
Watches

Swatch Bellamy Capable Of NFC Payments Headed To US

December 2, 2015

Swatch Bellamy China US NFC mobile payment watch

Swatch had previously announced plans to release a watch with built in NFC based payment abilities. At the time though, the Swatch Bellamy was only destined for China. Thanks to a new partnership with Visa, the Swiss watchmaker revealed the new NFC capable watch would also launch in the US, Brazil, and Switzerland in early 2016. The device looks every bit like a traditional Swatch watch and is available in 4 styles. There is nothing high-tech looking about the Bellamy; the NFC chip and antenna are hidden under the watch face. The battery life is comparable to a normal Swatch since the company is using passive NFC technology. US prices still are not know, but I would expect them to be similar to the approximate $90 price tag in China.  

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by Doug Parker
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Square Contactless Apple Pay Android NFC EMV Chip
Retail

Square Releases Next Gen Card Reader With NFC And EMV

November 23, 2015

Square Contactless Apple Pay Android NFC EMV Chip

Over the past twelve months a lot has changed with how you use your credit card to pay for things. Almost a year ago, Apple launched the most polished and high profile contactless (NFC) payment system to date. People who had never heard of mobile payments suddenly knew what it was and were using it to easily and safely buy everything from a Big Mac to their prescriptions drugs. This year Google, Samsung, and LG launched similar NFC based payment systems. The second big change in credit cards was the push for EMV chip equipped cards (also known as chip-and-signature). At the start of October, retailers became fully liable for any fraudulent purchases made via a magnetic based ‘swipe,” while fraudulent purchases made via the EMV chip or through contactless payment are still protected.

The problem is these changes all require new equipment, an easy proposition for a large, multi-door retailer but a tall order for a small boutique. Square, whose original phone / tablet card-swipe accessory changed the credit card processing business, has begun shipping their next generation card reader. The small, Bluetooth connected device allows a small business to easily begin accepting contactless payments, such as Apple Pay, or chip-and-signature based payments. Simply pair the reader to the phone / tablet you use as a register and then connect it to your Square account and you are ready to go. Since the system is Bluetooth based, you can also have the original “swipe” accessory connected to your register simultaneously. At $49, Square’s new device is a no brainer. All it takes is one fraudulent transaction and you could be out a lot more than $49! But the tech isn’t just good news to retailers; given the number of Square-based registers we come across in a week, it is easy to see that the company’s new reader could spur the next leap in the widespread adaption of contactless payments.

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by Doug Parker
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Adam Selman Mastercard Mobile Payment NFC Dress
Wearable Technology

Adam Selman Partners With MasterCard For Mobile Payment Clothing

October 28, 2015

Adam Selman Mastercard Mobile Payment NFC Dress

Fashion designer Adam Selman has partnered with MasterCard to explore integrating mobile payment enabled NFC chips into clothing. The credit card giant is on a quest to see what items in our daily life the technology can be integrated into and which make sense. Selman’s first dress to include MasterCard’s tech is a classic looking, 1970’s inspired, empire waist mini. The black bow at the bust conceals the NFC chip. Perhaps realizing that not everyone wants to thrust their chest at a payment terminal, Selman continued his exploration by designing sunglasses, gloves, a clutch, and earrings (again, not very convenient) all capable of mobile payments. The NFC chips found in the dress and accessories are controlled from your phone via Bluetooth and they are safe for dry cleaning. While negotiations are still underway, MasterCard expects Selman’s designs to hit the market in the 2nd half of 2016. In case you are not familiar with Adam Selman, he used to work with private clients such as Michael Jackson and Britney Spears to design stage costumes before launching his own fashion line. Inspired by easy to wear styles from the 70’s and 80’s, he is perhaps best known for collaborating on looks with Rihanna.

Choosing mobile payment technology as one of the first techs to incorporate into ready-to-wear clothing is a smart move. Certainly one of my favorite, and most used, aspects of the Apple Watch is being able to double tap a button and hold my wrist up to a payment terminal to buy things. It is incredibly fast and simple…virtually transparent. While fashion tech can be used to accomplish so many things, payments is a safe first step. It is something everyone can use and it doesn’t result in clothes that look like they are out of a futuristic graphic novel. As long as the technology doesn’t cause a large increase in the cost of clothing or accessories, including it might further spur the adaption of NFC mobile payments (which is a win for everybody). The only question now is what do we call fashion whose only tech feature is mobile payments?

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by Doug Parker
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Retail

Chase Teams Up With CurrentC To Launch QR Based Chase Pay

October 27, 2015

Chase Pay CurrentC MCX

Just when we though the mobile payment space was starting to get its ducks in a row and align behind NFC technology, Chase has announced a QR based service. Chase’s Chase Pay platform runs on the much beleaguered CurrentC platform. Unlike competing mobile payment systems, which utilize wireless technology triggered by your fingerprint, CurrentC requires the scanning of QR codes. For businesses that make up MCX consortium, Chase’s involvement is great news and must feel like a lifeline. Besides being the first real vote of confidence for the platform, prior to Chase’s announcement users were stuck using either a store credit card to make purchases or connect the app directly to their checking account. Thanks to Chase Pay, CurrentC users will be able to charge to a Chase branded credit or debit card. Chase expect the service to launch in early to mid 2016, around the same time CurrentC is expected to launch.

But 2016 is a ways off and, if MCX’s previous CurrentC timelines are any indication, I would not hold my breathe for a launch in the early part of the year. MCX was formed in 2012 to create retailer buy-in for the CurrentC technology; if it does actually launch in 2016, it will already be 4 years behind the times. The original idea of CurrentC was to offer a payment system that every phone had the technology to use. But nearly all phones currently being sold include NFC payment technology and every day more people own phones with the tech. Relying on a multi-step process utilizing a phone’s camera and screen to scan and display codes is only becoming more needless and cumbersome over time. And let’s not forget the rise of wearable devices, which won’t work the CurrentC QR system. All told, the CurrentC service was slow to launch and has probably missed its window. The delay was likely due to decisions needing to satisfy all the companies which paid to join MCX; they all wanted a say in creating a payment service that benefited them. While CurrentC does offer much better store loyalty program integration versus other mobile payment systems, this is truly a side product of one of the primary CurrentC purposes: data capture. MCX designed their technology to capturing users’ buying habits across retailers and to share that information with member businesses. The other primary purpose of CurrentC was to eliminate credit card transaction fees charged to retailers (former Walmart CEO Lee Scott once said “I don’t know that MCX will succeed, and I don’t care. As long as Visa suffers.”).

If all of this sounds bad for the consumer compared to the high level of privacy, card choice, and convince offered by Apple Pay, Samsung Pay, and Android Pay, you are right! Consumer sentiment is overwhelmingly negative towards CurrentC and retailers are listening. Over the past few months several MCX members (including Rite Aid and Best Buy), who had been stuck in a very penalizing exclusivity clause, began offering NFC based mobile payments as soon as they were legally able to. Given the momentum, it is surprising (and disappointing) that Chase, a strong Apple Pay supporter, would have spent the time and resources to develop Chase Pay.

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by Doug Parker
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