Category Archive for "Financial"

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Quick Thoughts – Implications of SnapCash for ACH and Person-to-Person (P2P) Payments

With its announcement of Snapcash on Monday, Snapchat (with a $10bn valuation in its last funding in August[1]) enters the market for integration of social media and person-to-person (P2P) payments in competition with PayPal’s Venmo (which handled over $300mm in

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Quick Thoughts – Initially Apple Pay More Disruptive Online than at Point-of-Sale

Apple’s new iPads (iPad Air 2 and iPad Mini 3) announced today will have TouchID and hence allow for Apple Pay purchases within apps supporting the Apple Pay API (albeit not at point-of-sale since the iPads do not have NFC

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Quick Thoughts – Expect MCX and Apple Pay to Partner

Bob Carr, the CEO of HPS, has commented that Apple Pay will make it difficult for MCX to sustain its policy of requiring members to accept only the CurrentC mobile wallet: “I don’t see how that [the exclusivity policy] survives.

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Quick Thoughts – The Online Challenge Faced by PayPal Because of EMV Tokenization

Financially, the argument for splitting eBay and PayPal is stronger today than in the past because eBay now accounts for less than 30% of PayPal transactions (versus over 70% a decade ago) and because PayPal is so relatively large (accounting

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Quick Thoughts – WMT Continues to Undercut Banks using Distribution Advantage and Durbin Arbitrage

Yesterday, WMT announced it will distribute GoBank, a mobile-only checking account offered by GDOT, which is exempt from the Durbin cap on debit interchange because of its size; with assets of less than $1bn, GDOT’s bank subsidiary, Bonneville Bank (a

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Quick Thoughts – Apple Pay as a Catalyst for Mobile Advertising and Other Updates

Below, we address some investor questions that have arisen since Apple Pay was announced on September 9th: Apple Pay is a Catalyst for Mobile Advertising: The card swipe is broken because it does not provide easy authentication for m-commerce purchases

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Apple Pay, Passbook, and the Convergence of Payments and Marketing

APPLE PAY, PASSBOOK, AND THE CONVERGENCE OF PAYMENTS AND MARKETING – CONFERENCE CALL, DATE TBD 1. Mobile wallets are as much about commerce and advertising as payments; a chip, unlike a mag-stripe, is a messaging device as well as a

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Quick Thoughts – Apple Pay Highlights the Business Case for MCX as Retailers Look to Respond to Digital Brands through App-and-Mortar Strategies

A number of merchants, including MCX members such as BBY, have said they have no plans to accept Apple Pay. TGT has announced that it will enable Apple Pay for online purchases through its mobile app but has not indicated

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Quick Thoughts – Apple Pay and the Convergence of Physical and Digital Commerce

Apple Pay is an EMV-compliant, NFC-enabled payments solution that will work: (i) at physical stores with EMV-compliant contactless terminals (currently activated at less than 5% of US retail stores but likely to reach 25% by end-2015); and (ii) through apps

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GS: The Role of Enterprise-Wide Risk Management Systems in Derivatives Pricing

“In the old days, there was complexity on products with leverage and pay-off. Now, the derivatives are simple – the complexity is in the accounting. The world has been turned upside down.”  Head of markets at a major dealer. The

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