Recently, in its corporate blog we talked about the industry of mobile NFC payments, focusing on Apple Pay. To Bloomberg came news that Apple plans to strengthen the dissemination of its payment system with the launch of a new p2p service payments, which will transfer money from your iPhone from one account to private individuals. We were in the company PayOnline , which is organizing the payments on websites and mobile applications, this news seems to be a sign, and we have prepared a survey of the views of Western experts on the subject.
Olga Kharif, the author of the publication Bloomberg, he said that Silicon Valley is now obsessed with the idea of a direct transfer of money using smartphone applications. The consequence of this obsession was the birth of a variety of different, usually unprofitable methods of committing such transfers, with almost close to zero commission. The most popular of these applications are now PayPal and its subsidiary Venmo. However, they are becoming increasingly faced with competition, including from Google, Facebook, Square.
Apple also plans to join the fight. According to the information received by the publication last month of the familiar with Apple's plans Source, the most expensive in the world of technology the company is negotiating with banks to launch additional functions for Apple Pay, which allows users to send money to friends. Analysts believe that to remain competitive, companies have to make transactions with debit cards free of charge as part of the service. According specializing in market research companies Crone Consulting, Apple could lose a lot of money to maintain direct cash transfers, because such services are not cheap to operate. According to Crone, creation and confirmation of a new, tied to a debit card account from Apple will cost 50 cents to $ 3 per unit. Each operation in this case will be handled as a minimum of 25 cents. According to Will Stofegi, an analyst at research firm IDC, these friendly translation companies do not bring big profits. "I do not understand how you can monetize this service" - said the expert.
As soon whether Apple will be able to find a way of getting direct profit from this innovation. Apparently, instead, the company will use it to distribute Apple Pay stores. Since the advent of the mobile options tap-to-pay year has passed, but it did not live up to expectations. According to statistics of InfoScout, owners of the new iPhone models used Apple Pay to commit 2.7% of the total number of possible purchases at the last Black Friday, while last year the figure was 4.9%. Meanwhile, PayPal reports that users Venmo last quarter produced transfers totaling $ 2.1 billion, using a joint application for payment of restaurant bills, payment of rent for its neighbors in the housing and return money to friends for movie tickets. "We see this as a way to involve the client in the game. Monetization for us is in second place, - says Joe Lambert, vice president of PayPal. - Users of the personal payments - our most active customers, they enjoy all our products. They spend more than others how to use PayPal, or using our other services in general. " In the near future Venmo also plans to test the introduction of payment for goods and services in stores. Adding the ability to send money to each other on new iPhone models would double the number of users of Apple Pay for 1.5-2 years, said Richard Crone, CEO of Crone Consulting. This change could be very profitable for Apple, which charges a fee every time users take out a smartphone and pay for the purchase with it.
Apple hopes to consolidate and make the inevitable gradual extension of Apple Pay by encouraging personal payments - says Crone. - If I send you $ 50, you certainly want to get them. However, for this you have to connect to the service personal payments Apple Pay. It's a viral way to spread applications. "According to that same source familiar with the plans of the company and wished to remain anonymous, Apple Pay may receive a powerful impetus to the development before the launch of personal money transfer, which is expected early next year. According to another close to the company source, Apple has reached a preliminary agreement with China's largest payment and clearing network UnionPay to launch Apple Pay at cash machines all over China. Analysts are optimistic about Apple's plans despite the fact that the US market, which amounts to 7.5 billion dollars, is now, and so there is no shortage of money transfer services via smartphone. Some experts are so confident in the success of Apple, even predict negative consequences for the providers of credit cards and ATM manufacturers. Applications for money transfer can reduce the need for devices issuing cash. "We'll see how these developments will affect the popularity of ATMs: people just will not need to take cash," - says the publication Bloomberg Matt Wilcox, senior vice president of marketing and innovation Fiserv, providing services to banks.
The company Cardtronics, managing ATM networks, are not It takes seriously concerns about the fact that mobile applications can challenge its business. "It is important to distinguish between the theoretical and the actual behavior of customers - the author said in an email to a company spokesman Nick Papatopulos. - Cash widespread, even in those cases where customers have the opportunity to choose between them and other methods of payment.
If the iPhone users will bind their bank accounts to the Apple Pay, they will be able to completely eliminate the use of credit cards not only for translation money to friends, but also, quite possibly, in general, for any purchases, thereby getting rid of the intermediaries. "It's something like a short circuit in the current scheme of interaction of consumers and providers of payment services, - says Crone. - After 3-5 years, Apple Pay and related services will be able to pick up a 20 per cent of all lending operations. "To predict how much time will be spent on such a major change is almost impossible, but an analyst at Aite Group Taly Baker, who uses QuickPay by Chase at least once a week to transfer money to friends, believes that a cashless future is inevitable: "I can not wait for the day when my purse will not be nothing superfluous - just lipstick and a smart phone." Opinion on the p2p-payments expressed in a post to Medium Jeremy Aller, CEO and founder of Bitcoin-mobile wallet Circle, the company has attracted millions in investment, and their Android-application NFC-support payments like Apple Pay: Jeremy claims that p2p-payment market has a reputation solidified in development. Many times, Western companies have tried to present it with their payment products, but none of them has not been able to justify the hype created around him and realize their potential. However, direct payments are now again become relevant and becoming one of the most valuable components of the consumer segment of the Internet. Like other extremely popular applications, which are based on providing consumers with attractive and free services (search services, means of communication, the media), p2p-payment services have the potential to be a springboard for entering the vast expanses of the entire ecosystem of financial services and payments. Renewed interest in p2p- payment was made possible by a number of factors: the global spread of smartphones, they can be used as tools to make payments (QR-code, technology, Bluetooth LE and NFC), the development of applications, instant messengers and the emergence of open protocols of the payment transactions (such as blokcheyn).
Together they create the preconditions for major changes in the area of consumer finance, comparable with past breakthroughs in the development of media and communication technologies and retailing on the Internet. In addition to technical factors, there are demographic - maturing "Generation Next, the purchasing power that the US has already exceeded 1.4 trillion dollars annually, and is growing in the rest of the world. "Millenialy" appreciate mobility, including in matters of money and ways of dealing with them. In addition, over time they grow and develop professionally, amassing a personal fortune, and have at its disposal wealth, inherited a legacy from his predecessors. All this will lead to the fact that they are bound to play a major role in spreading the applications for making retail payments and the management of private wealth. Analyst firm Aite Group estimates the volume of the existing market p2p-payment of 1.2 billion dollars and reported in their studies of the prevalence of it products, using mostly non-electronic, paper or solid carriers, such as cash or checks. In other words, we already have in the back of 1.2 trillion dollars, the work that is only possible using the outdated, non-digital mechanisms. By analyzing the majority of emerging markets around the world, you will notice that p2p-payments form the basis of their economic activity, which in general has traditionally It is more informal. It is because of the prevalence of the habit to pay for services directly, without intermediaries, and calculated individually, cash remains so popular. However, an increasing number of consumers are beginning to use smart phones, and therefore, p2p payment applications have all the prerequisites in order to radically change the habits of consumers in terms of storage and use of money. The chances to make it grow, if the industry can take advantage of the open internet protocols for the transfer of funds, as well as globalize this phenomenon with the help of the Internet. The market p2p payments much like text messaging market 20 years ago. The latter was presented as a rule, only government or business monopolies. Operators manually distributed and sent text messages intended for transmission which were mainly used only the physical media that is writing. In those days, few could have predicted that such mundane nowadays the idea as "e-mail", and bring about a revolution will have an impact on text communications around the world. We have a marketing term - "unmanifested desire." It is used to describe the deeply hidden desires, the presence of which people are not even aware. The emergence of applications that allow you to send payments and to share resources as easily, smoothly and pleasantly, as we send emails, messages, or content on the Internet, will give the same effect as if we were fully allowed to enjoy their "unmanifested desires." In the past twenty years we have seen a sharp increase in the areas of communication and information exchange. Equally rapid change, we will see increased activity in the sphere of p2p-payments.
Gradually, the value of the transfer of funds will be closer to zero, as has already happened with the exchange of messages and content on the Internet. In addition, mobile applications will offer entirely new mechanisms for the use of money. The idea of direct communication between people has existed for thousands of years, and yet only now we have started to penetrate into the deep essence of this kind of interaction. However, let us return to our infopovodu, that Apple could enter the market p2p-payments and who is this wins as all you can see that someone has won. When it comes to our personal funds or savings accounts, people want to have applications that give them the widest possible coverage. They want to be sure that the funds are sent by them will reach the recipient that they themselves will be able to easily get transfers intended for them. This desire to receive wide coverage will raise the demand for open operating worldwide application. The choice of operating systems, devices, currency or communication channels used for this, falling by the wayside. The emergence of open Internet protocols for transfer of funds and implementation of blokcheynov on a global scale would create conditions for the free flow of money, as is already happening with the exchange of information on the Internet. Currently, most of the pioneers and major players in the market building closed systems, where users are tied to their platform and customers, and can not get the benefits that could provide a unified global exchange network
