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The Race to Mobile Payments – Spotlight on Top 12 Digital Wallets [Infographic]

Are you dizzy keeping track of all the mobile payments announcements? Its seems like every other day a new company throws its hat into the mobile payments arena – from Apple Pay, Android Pay, SamSung Pay to coming soon LG Pay, Chase Pay, and Walmart Pay.

These digital wallets share one common feature – instead of swiping a credit or debit card, you hold your smartphone up to the payment terminal to pay. Most offer tokenization services that substitute a user’s card details by generating a one-time dynamic code for each transaction with random numbers to reduce the risk of fraud. For the average user, the differences are slight. Q INSIGHTS latest Infographic highlights what you need to know. For more details read on.

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Social Currencies to Disrupt Payments – Part 3 of 3

This is the third and final installment of the 3-part blog series on social currencies and its impact on payments. In part 1, I provided background on Google and Facebook’s social media intentions. In part 2, we took a look at the different payments business models of Google and Facebook, and here we examine some potential barriers as well as the opportunities in social currency adoption.

One hurdle (though minor, in my perspective) is that Facebook Credits charges 30% of earned revenue, which is relatively large in comparison to credit card processors and other options that are typically in the single digits. In the context of other online providers, the rate is in-line with Apple, Google, and Amazon that take 30 percent of all purchases made through iTunes, app stores, or Amazon’s eBooks store. For social game providers the benefits can outweigh the costs, which may be the reason why they are willing to adopt a more expensive, but secure, reliable, and frictionless payment system.

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Social Currencies to Disrupt Payments – Part 2 of 3

Last week, I provided background on Google and Facebook’s social media intentions. In this second installment of the three-part blog series we take a look at the different payments business models of Google and Facebook…

Google’s Payments Business Model

As I previously mentioned, games integrated into the social network experience would propel Google’s payments growth strategy and help drive the adoption of Android Operating System, Chrome Web Store, and Google Checkout. Back in 2006, Google launched its PayPal-like alternative payments method, Google Checkout, funded by the major card brands. It was the search giant’s initial venture in a one-stop mechanism for purchasing from stores across the web. Although Google Checkout already exists as a payment function for hundreds of merchants, adoption rates have been sluggish. In incorporating Google Checkout in its Chrome Web Store, Google plans to accelerate adoption of its mobile applications, and looking to emulate the success of Apple’s business model.

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