google, amazon, apple, and nfc: another clash of the titans?
DESCRIPTION
Keynote I gave at Mobile Payment Expo 2011 (18-19 May 2011) in ParisTRANSCRIPT
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Jan Ondrus ESSEC Business School
Google, Amazon, Apple and NFC: Another Clash of the Titans?
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There was a time when...
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... the payment industry was very happy
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1-4 % commission
on any purchase
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Market was stable & balanced
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Money was relatively easy
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But as any party, it could not last forever...
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With new technology developments...
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Telcos and device makers became interested in the payment market
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Mobile phones were getting more popular
& m-commerce was about to take off
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As a result...
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Some Titans wanted to dominate the market
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While others tried to collaborate
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Most initiatives just failed...
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The market went from buzzes to failures...
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Until...
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Nov 15 2010
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Google announcement about NFC
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Looked like someone was finally bringing the missing piece
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It generated...
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... a lot of buzzes &
ideas again
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and more importantly...
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... financial interests
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New Titans on the market: New opportunities
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Good or Badthing for the
payment industry ?
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In any case, the whole industry has reacted...
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Forming different alliances
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So now what?
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Are we going to repeat the same story again and again?
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Let’s take a closer look at the newcomers...
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✔ Strategic alliances✔ Google Checkout✔ Google Places✔ Android
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✘ Credit card # stored✘ Privacy issues
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✔ Physical and digital retail✔ Amazon Payments✔ Amazon 1-‐Click✔ Knowledge about consumers✔ Credit card # stored
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✘ Alliances✘ Hardware✘ Mobile plaCorm
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✔ iTunes store ✔ iPhone/iPad✔ IntegraGon✔ Image✔ Credit card # stored
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✘ Physical merchants✘ Alliances✘ Interoperability✘ Payment engine
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Any possible winner?
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Too early to say...
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The industry is still facing the same issues as before...
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http://designforrecognition.files.wordpress.com/2010/06/chicken-the-egg.jpg
Chicken and egg problem
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Standardization & Interoperability
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Control of the secure element
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Finding the right business model
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Minimizing merchants’ rejection
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Avoiding consumer’s disinterest
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Web 2.0 Summit, Eric Schmidt (Google)
So did it really change the game?
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Only the future will tell...
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To conclude...
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Create sustainable ecosystem(s)
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Align business models and environments
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Provide appropriate technology