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 Dale Buss on April 3, 2013 09:01 AM
JCPenney slashes CEO Ron Johnson's pay, woos fashionistas with store-in-store bijoux bars.
Facebook dispute over Timeline trademark will go to jury trial; faces questions about new smartphone.
Tesla CEO Elon Musk will personally guarantee car buyback values as company introduces leasing.
A&W introduces Mini Polar Swirls via Vine.
Angelina Jolie opens school in Afghanistan funded by her jewelry collection.
Apple begins production of refreshed iPhone this quarter.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 Mark J. Miller on March 15, 2013 04:22 PM
In the never-ending quest to find good talent, more and more companies are taking to social media and implementing interesting tactics to discover their next great employee.
Most recently, MasterCard has launched a search for five eager beaver interns. Hopefulls must apply via LinkedIn with an idea of how to facilitate a cashless future. Applicants must then follow MasterCard's Twitter, since that's how they're planning on notfying the chosen applicants. The company even created an animated short to advertise the opportunity.Continue reading...
long arm of the law
Posted by Barry Silverstein on March 14, 2013 11:53 AM
At first glance, it may look like a real online store, but DesignsFauxReal.com is actually a counterfeit site mocking Web sites that sell counterfeit merchandise.
It's the latest reaction to a booming black market industry that has faked out real brands for years on street corners of big cities around the world and has now moved online. Just last week, the seizure of 1,500 counterfeit Chinese-made Hermes purses was announced by U.S. Customs and Border Protection. The fakes would have been worth as much as $14 million had they been sold at full price.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 Dale Buss on February 11, 2013 02:09 PM
Pepsi promoted new artists like Hunter Hayes as part of its presence on the Grammy Awards last night, but most of its music marketing budget remains devoted to one very established diva: Beyonce.
Beyonce is demonstrating her personal-brand firepower these days like no time in recent years. Using her Pepsi-sponsored Super Bowl halftime show as a launching pad, she also gave an award at the Grammys with Ellen Degeneres, made time to serve as the cover girl for the March issue of Vogue, taped an interview with Oprah Winfrey scheduled to run on Saturday and, of course, is awaiting reaction to the documentary about her that HBO plans to run on Sunday.
That's all by way of ramping up fan fever for her new "Mrs. Carter World Tour," which kicks off in Belgrade in April and finally reaches the United States in late June. MasterCard is holding a ticket presale event.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...