War without winners: mobile payments Cloudy

Now the industry of mobile payment is very chaotic, there are many legal and competitive payment methods, countless startups, industry giants, banking institutions, joint ventures and so on want to share from this market. In the big companies, the deer dominate the role of the time, consumers must wait for the change and patience.

In the past few years, we have seen Square, Google, Intuit and other companies have issued a unique e-wallet. While mobile payments are the highlight of this year's CTIA wireless conference, there is a bit of a difference between reality and imagination: Isis, who has been expected to make a grand move at the CTIA Congress, has finally remained silent.

Media and Visa and MasterCard have talked about their mobile payment strategy for businesses that are connected to ISIS. Frankly speaking, when it comes to ISIS, two companies have been very cold, but the topic of mobile payments is enthusiastic. The stakes are huge, and it's not easy to say which NFC standard or mobile wallet is going to win. In a way, from credit card companies to business to startups, they want to be able to bond with consumers ' future payments.

no major credit card company will be involved in this ISIS joint venture.

ISIS is an international mobile e-commerce company, a joint venture between T, Verizon and T-mobile, with the intention of fundamentally changing consumer shopping and payment methods. Unlike other competitors, the company is supported by telecoms operators, not credit-card companies. Visa, MasterCard, American Express and discover established business contacts with ISIS's payment systems in July last year.

But on CTIA, Isis seems to have lost the two main partners of Visa and MasterCard. The two credit-card companies have introduced their wallets and payment methods while avoiding ISIS at the conference. Visa showed the V.me payment method announced last November, and MasterCard's PayPass also appeared in the conference. Although both of them have worked with ISIS, neither one of them is fully engaged in the joint venture. Their accession has made the previously chaotic mobile payment area more fragmented.

In fact, Visa has strongly recommended its products in the CTIA booth, including the NFC payment system of the V.me and Visa mobile prepay two paywave agreements. Both of these payments go beyond the services offered by the ISIS payment system, and can win the market out of ISIS altogether.

Brad Greene, head of the corporate mobile business development strategy at Visa, points out that when it comes to ISIS, visa authorizes paywave to give the joint venture the ability to connect to the visa system with ISIS wallets. However, Greene that the focus of ISIS is on the NFC field, while visa is concerned with the information and remote transactions that the user has in the cloud service. This does not mean that visa will completely abandon NFC payments to ISIS, and it will provide its own corresponding payment plan.

And the MasterCard Ed McLaughlin that ISIS is not necessarily a competitor. While MasterCard and Visa have not invested in Isis, they prefer to focus on their systems while maintaining a partnership with ISIS. "If Isis came to the door and asked to hook up his wallet to our network, we would consider it," he said. ”

Whether the ISIS payment system can be called a global standard or something that has not yet been determined. It does have the support of three major U.S. businesses, but the big credit-card companies each offer a competitive wallet and payment network. While both Visa and MasterCard allow ISIS's wallets to be plugged into their systems, they are doing so in the hope that consumers will be able to use their own systems.

Visa is actually well aware that there is a place for ISIS in the mobile payment field, but it does not want those businesses to pin around in the payment field.

you should not assume that your NFC payment method is applicable anywhere

In the short term we see more of the different and competitive mobile wallet payment methods offered by various companies such as Visa, MasterCard, Goolge and PayPal. If you want to know whether the payment method you choose can be available in a particular store, you must verify it through the Wallet app. Now each service provider is operating a vertical business model-some sales endpoints and credit cards integrate third-party wallets, but you can't expect your NFC payment scheme to work anywhere.

Like the credit card sector, we expect these mobile payment competitors to eventually find a way to work together to make life easier for consumers. But this relatively simple assumption is very difficult to achieve, as no company can give up the opportunity to dominate the mobile payment field.

Visa's Greene also said it was unclear when these competing solutions could work together. Now the whole atmosphere is like a race, and each "player" is looking for a partner who wants to win the market and dominate the mobile payment platform.

will mobile payments replace credit cards?

Greene believes that business and consumer trust in Visa gives the company a great advantage. He pointed out that the company established its loyal users through credit card services, and that users relied on what they had chosen. And MasterCard prefers to look for partners rather than monopolize the mobile payment platform. McLaughlin points out that MasterCard values global interoperability and is looking for a service that is based on an open API that can be connected to PayPass's payment system by a cooperative wallet provider.

MasterCard is a major credit card company that works closely with the Google Wallet project, so it can ensure that it participates in more different wallet solutions. While Visa has recently announced that it is authorizing its paywave agreement to Google, it is fundamentally different from the idea of MasterCard: MasterCard is talking about an open API, and Visa is authorizing it.

Will mobile payments replace credit cards? The answer is very likely. But the current messy situation, credit cards still have a useful. It is also possible that eventually no one can be the standard for mobile payment platforms. What consumers need in theory is a globally interoperable system, and the sad reminder is that no company is fully receptive to the idea at the moment. By the way, Apple, do you dare to use your ipay to come to the war?

Via:theverge (three shadow silent for Lei Feng net Zhuangao, reprint please specify. )