2014 was a year of “great action” in mobile payments and thanks to Apple and the Apple Pay launch, on two new models and in USA, we can look forward to even more action in 2015. This year we will see the banks (at last) and the global payment schemes do big moves and a lot of marketing in mobile payments. At the end of the year we could have seen the mobile payment tipping point..
Things to look out for in 2015:
– Contactless cards will drive mobile payment. The quick change to EMV in USA (major deadline is October 2015), mandates like from MasterCard and roll-out of contactless cards to new countries (even Sweden!), will pave the way for mobile payments solutions using global payment schemes and NFC.
– Large commercial roll-outs. Programs like CurrentC (USA), Zapp (UK) and Alibaba’s mobile payment? (China) will launch.
– Extended roll-outs (but global?). Apple and Square are working on it and we will see regional/country schemes launch into more countries. Apple Pay next country will be UK.
– Paymentize existing apps. Mobile payment based on standard payment schemes will be added as feature to popular apps.
– Faster payments. Direct account mobile payments schemes with real-time money transfer will gain traction. Example is Sweden’s very successful Swish and the coming UK service Zapp.
– Tokenization. After all security breaches and stolen card numbers, we will see the use of tokens instead of card numbers in many new payment programs. Tokens will also be used as keys in for example mobile access, gift cards, vouchers, etc.
– NFC. Will be the preferred pairing method at POS. BLE will also be used, but mainly for marketing by merchants and we will see first large BLE commercial roll-outs (BLE is today mainly used in pilot’s).
– Finger id. We will see more mobile models with Apple’s Touch ID alike solutions, from both the Android and the Windows families.
– Swipe fee change. Like in prepaid where the consumer pays more and merchant less, same “fee shift” will be seen/tried in new mobile payment, mobile money transfer and mobile bank products.