Posted by Barry Silverstein on May 1, 2013 05:39 PM
As the mobile payments market heats up with entries like MasterPass from MasterCard, mobile payment player Square continues to forge new ground.
Last November, Square, the brainchild of Twitter co-founder Jack Dorsey, scored a coup by getting Starbucks to accept mobile payments in some 7,000 locations. Users of Square Wallet could also browse menu information and store hours, gain access to their transaction history and even explore nearby businesses. Now Square is adding new features to Square Register so it is all the more attractive to quick-service restaurants.
The move by Square is significant. For the most part, the brand's customer base is comprised of individual merchants, including taxi drivers, food truck owners and people who provide personal services. By adding features such as the ability to modify orders and customize kitchen tickets, Square is hoping to further penetrate the food business.Continue reading...
Posted by Barry Silverstein on March 20, 2013 05:33 PM
Retailers are trying to cope with the challenge of an increasingly mobile consumer who conducts life digitally. This means meeting consumers' expectations on a whole new playing field: the mobile device.
According to Interbrand's just-released Best Retail Brands 2013 report, "retailers are mobilizing to address the larger issues around digital: Where and how does it fit into the organization? How can development teams be reorganized and silos lowered to accommodate a multichannel approach? How will the brand's culture change in response?"
While mobile sales are insignificant now, they are growing rapidly. In-store mobile payments almost quadrupled last year, and PayPal alone processed around $14 billion in mobile payments in 2012, according to Business Insider. That means mobile payments need to be a key part of future retail strategy. Just last week, the U.S. Federal Trade Commission (FTC) issued a report, "Paper, Plastic... or Mobile?" The FTC cites a KPMG survey that found that 83 percent of executives in retail, financial services, technology and telecommunications believe mobile payments will see widespread consumer adoption by 2015.
Another recent study, by JPMorgan, divides the current state of the mobile commerce market: mobile acceptance (any mobile-based payment solution), mobile wallets (applications that enable consumers to use mobile devices for payment instead of credit or debit cards) and mobile commerce (e-commerce via any mobile device).Continue reading...
Posted by Barry Silverstein on March 6, 2013 04:13 PM
It may seem counter-intuitive, but MasterCard and Visa are in the midst of a technology war that may some day eliminate plastic credit cards.
At the recent Mobile World Congress, MasterCard introduced a mobile payments system called MasterPass, while Visa announced mobile payment partnerships with Samsung and Roam, a maker of point-of-sale systems. Both MasterCard and Visa, as well as others including Square, PayPal and Affirm, newly launched by PayPal co-founder Max Levchin, are going after the same golden ring: the emerging mobile payments market.
MasterCard's MasterPass is a good example of where mobile payments technology is headed. According to Ed McLaughlin, chief emerging payments officer for MasterCard, "MasterPass brings together all of the ways we pay for things, from traditional plastic cards to digital wallets, and gives consumers the ability to make a payment from wherever they are and with one simple experience." MasterPass will offer checkout services that support anything from tags, mobile devices and QR codes used at point-of-sale to a simplified checkout process for online retailers. It will also provide "digital wallets" that banks, merchants and partners can adapt for their own use, featuring an open system that even MasterCard competitors can use. Continue reading...
Posted by Shirley Brady on January 7, 2013 07:02 AM
Hostess is in talks to sell off bread brands, as makers of Thomas' English muffins and Tastykake snacks emerge as two of the bidders for Wonder Bread according to the Wall Street Journal.
Hulu CEO resigns as web TV startup faces impasse.
NHL resolves labor dispute, faces shortened season.
Apple envy one of Fast Company's suggested New Year's Resolutions for brands.
Bank of America settles with Fannie Mae for $10 billion.
BMW is paring back car discounts in Germany.
CES lures brands and marketers to Las Vegas.Continue reading...
Posted by Barry Silverstein on November 15, 2012 12:06 PM
Back in January 2011, Starbucks became the first national retailer to offer its own mobile payment technology combined with a loyalty program. It led to more than 100 million mobile transactions occurring in its U.S. stores since the launch.
Now, in a move to push mobile commerce even further, Starbucks is accepting payments in some 7,000 retail locations via Square, Twitter co-founder Jack Dorsey's mobile payment app for iOS and Android smartphones. In addition to laying out cash for that latte, users of Square Wallet can browse menu information and store hours, gain access to their transaction history, and even explore nearby businesses. Since Square Wallet is linked to a debit or credit card, there's never a need to reload a balance, and a digital receipt appears instantly.
It's not only been a huge boost for the Square brand (as Dorsey tweeted, "Immensely proud of the teams at Square and Starbucks: 7,000 stores launched 3 months TO THE DAY after signing the deal. #nailedit"). The announcement by Starbucks seems to come at a time of increased activity that could make 2013 the year of mass adoption of mobile payment technology. Indeed, Dorsey this week announced that "Square is now facilitating over $10 billion of commerce annually for small businesses across the US. Up $2 billion in just 2 months."Continue reading...
Posted by Dale Buss on October 24, 2012 09:00 AM
Dow Chemical to slash 2,400 jobs and close 20 plants.
Zynga cuts staff and kills some games.
BBC investigating staff members in Jimmy Savile sex scandal as New York Times public editor calls for scrutiny of incoming CEO, ex-BBC exec Mark Thompson.
AT&T reports slower growth in new customers.
American Airlines expands route network.
Apple finally unveils its new smaller iPad as advertisers and publishers contemplate utility of new model.
BAE faces pressure after collapse of EADS deal.Continue reading...
sip on this
Posted by Sheila Shayon on October 11, 2012 01:11 PM
A Tokyo pop-up has taken the Starbucks retail store concept to a futuristic, minimalist place that could shake up the java giant's global development team to rethink everything they hold dear about the brand.
Inspired by coffee-lovers' penchant for reading while sipping, Japanese design studio Nendo created a "Starbucks Espresso Journey" pop-up that looks, on the surface, like a monochromatic library — until you notice the rows of tumblers and the subtle take on Starbucks' wordless logo. Floor-to-ceiling bookshelves comprised the curved interior walls as customers perused custom-made books in nine different hues, each about a different type of espresso drink - lattes, cappuccinos or café mochas.
The desaturated shop was installed in September in the Omotesando neighborhood and open for three weeks. Visitors were invited to choose a book, take it to the counter and trade it for an espresso drink. They could also keep the book cover to insert into one of Starbucks’ customizable tumblers. It's visually stunning and upends every expectation we bring to the Starbucks brand experience, to be sure, but still — a library?Continue reading...
Posted by Dale Buss on October 9, 2012 09:03 AM
Yum! Brands third quarter earnings report is being closely watched.
Barclays to buy ING online assets.
Yahoo's Marissa Mayer urged to repurchase stock, profiled in New York magazine.
AT&T shares network with IBM to lure more customers to the cloud.
Amazon veers more into advertising.
American Airlines loses traffic over operational issues.
Apple asked by Taiwan to blur satellite image as Samsung spat dings brand perception.Continue reading...