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TheMobileBuzz
Swenk: The fact that iPhone users
Prospects improving for mobile NFC payments will begin to adopt fingerprint
technology speaks volumes. These
n September 2013, Apple Inc. launched the iPhone 5S, which comes people will become the early adopters
equipped with fingerprint scanning technology for the first time. In of the technology and will eventually
addition, near field communication (NFC) is inching its way into POS demand alternative payment
I terminals, and mobile NFC wallet solutions – like the telecommunication solutions, including instant purchase
companies' offering called Isis – are rounding into form. on a smartphone without the use of
passwords or inputting credit card
With the establishment of the NFC infrastructure and Apple's introduction information.
of biometrics into mainstream culture, gateway provider Payscape Advisors
believes a turning point in mobile NFC payments has been reached. To that end, businesses, both brick-
and-mortar and e-commerce, will
In a question and answer session, Jason Swenk, Chief Innovation Officer at need to adapt to consumer preferences
Payscape Advisors, explored what Apple's addition of biometrics means for and offer customized and convenient
NFC technology, consumers and payment solution providers. payment options. And as merchants
begin to use more advanced and
The Green Sheet: How will advanced security technologies, including the use secure payment technologies, both
of biometrics, affect the payments industry? processing rates and chargebacks will
decrease significantly.
Jason Swenk: Cardholder security controls today are limited to PIN numbers
and ZIP codes. The use of fingerprint technology to authorize payment will not TGS: How could biometrics affect
only lower the risk of fraud but ultimately reduce processing fees and increase mobile commerce?
cash flow for merchants and business owners. Financial technology companies
will begin to compete for biometrics security in addition to the areas payment Swenk: It's going to open a whole
processors are already competing in such as customer service, rates and fees, new world for developers. They'll
convenience, and software integration. build apps that integrate fingerprint
scanning for purchases and make
TGS: How could biometrics affect merchants and small business owners? shopping on smartphones easier
than ever before. The easier it is for
consumers to purchase on-the-go, the
more likely it is that they will adapt
to new payment methods such as
m-commerce.
TGS: Any last words for merchants lost
in the payment technology muddle?
Swenk: When it comes to merchant
services providers, business owners
need to take a close look at the levels of
customer service, industry knowledge,
and responsiveness they've received
from the beginning of the relationship.
A best-in-class processor should be
one that is not only readily available
to manage the account and solve
problems but is at the forefront of
innovations in payment technology,
user experience and security.
Consumers are over-sharing through
social media and location-based
services. Financial technology
companies should pay attention
and leverage this big data to
partner with retailers and provide a
mobile commerce experience that is
personalized, easy and secure. That's
the key to brand loyalty and customer
retention.
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Swenk: The fact that iPhone users
Prospects improving for mobile NFC payments will begin to adopt fingerprint
technology speaks volumes. These
n September 2013, Apple Inc. launched the iPhone 5S, which comes people will become the early adopters
equipped with fingerprint scanning technology for the first time. In of the technology and will eventually
addition, near field communication (NFC) is inching its way into POS demand alternative payment
I terminals, and mobile NFC wallet solutions – like the telecommunication solutions, including instant purchase
companies' offering called Isis – are rounding into form. on a smartphone without the use of
passwords or inputting credit card
With the establishment of the NFC infrastructure and Apple's introduction information.
of biometrics into mainstream culture, gateway provider Payscape Advisors
believes a turning point in mobile NFC payments has been reached. To that end, businesses, both brick-
and-mortar and e-commerce, will
In a question and answer session, Jason Swenk, Chief Innovation Officer at need to adapt to consumer preferences
Payscape Advisors, explored what Apple's addition of biometrics means for and offer customized and convenient
NFC technology, consumers and payment solution providers. payment options. And as merchants
begin to use more advanced and
The Green Sheet: How will advanced security technologies, including the use secure payment technologies, both
of biometrics, affect the payments industry? processing rates and chargebacks will
decrease significantly.
Jason Swenk: Cardholder security controls today are limited to PIN numbers
and ZIP codes. The use of fingerprint technology to authorize payment will not TGS: How could biometrics affect
only lower the risk of fraud but ultimately reduce processing fees and increase mobile commerce?
cash flow for merchants and business owners. Financial technology companies
will begin to compete for biometrics security in addition to the areas payment Swenk: It's going to open a whole
processors are already competing in such as customer service, rates and fees, new world for developers. They'll
convenience, and software integration. build apps that integrate fingerprint
scanning for purchases and make
TGS: How could biometrics affect merchants and small business owners? shopping on smartphones easier
than ever before. The easier it is for
consumers to purchase on-the-go, the
more likely it is that they will adapt
to new payment methods such as
m-commerce.
TGS: Any last words for merchants lost
in the payment technology muddle?
Swenk: When it comes to merchant
services providers, business owners
need to take a close look at the levels of
customer service, industry knowledge,
and responsiveness they've received
from the beginning of the relationship.
A best-in-class processor should be
one that is not only readily available
to manage the account and solve
problems but is at the forefront of
innovations in payment technology,
user experience and security.
Consumers are over-sharing through
social media and location-based
services. Financial technology
companies should pay attention
and leverage this big data to
partner with retailers and provide a
mobile commerce experience that is
personalized, easy and secure. That's
the key to brand loyalty and customer
retention.
26
26
26
