new payments methods
TRANSCRIPT
New payments methods January 2016
H. Van de Vyver
New payment methods
19 January 2016
Bank of China, London 2
Situation
• Card based payments
• Network money
Mobile payments
• Possibilities
• Services
• Costs
• Demo
Peer to peer payments
• Possibilities
• Services
• Costs
• Demo
Friends to family
payments
New payment methods
Terminology: Mobile banking vs. Mobile paymentsMany consumers (and even a fair number of bankers) make the mistake of using these two terms interchangeably.
But there is a difference: Mobile Banking refers to platforms that enable customers to access financial services (such as transfers, bill payments, balance information and investment options).
Mobile Payments, on the other hand, is generally defined as the process of using a hand-held device to pay for a product or service, either remotely or at a point-of-sale.
https://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/mobile-payments-for-banks/Pages/monetizing-mobile.aspx
19 January 2016
Bank of China, London 3
© kpmg.com
New payment methods
19 January 2016
Bank of China, London 4
New payment methods
19 January 2016
Bank of China, London 5
© kpmg.com
New payment methods
19 January 2016
Bank of China, London 6
New payment methods
19 January 2016
Bank of China, London 7
Situation
• Card based payments
• Network money
Mobile payments
• Possibilities
• Services
• Costs
• Demo
Peer to peer payments
• Possibilities
• Services
• Costs
• Demo
Friends to family
payments
New payment methods
19 January 2016
Bank of China, London 8
New payment methods
19 January 2016
Bank of China, London 9
Electronic money, or e-money, is any electronic payment media –any material, device, or system that conducts payment via the transfer of electromagnetically stored information
Source: Six Puzzles in Electronic Money and Banking
Connel Fullenkamp and Saleh M Nsouli
International Monetary Fund
New payment methods
19 January 2016
Bank of China, London 10
New payment methods
19 January 2016
Bank of China, London 11
https://www.paypal.com/be/webapps/mpp/pay-with-app
New payment methods
19 January 2016
Bank of China, London 12
Situation
• Card based payments
• Network money
Mobile payments
• Possibilities
• Services
• Costs
• Demo
Peer to peer payments
• Possibilities
• Services
• Costs
• Demo
Friends to family
payments
New payment methods
19 January 2016
Bank of China, London 13
Peer to peer payments
– p2p lending marketplaces (e.g. Prosper, Zopa, Lending Club,Smava) – participants driven mainly by economic motives
– social lending services enabling micro financing (e.g. Kiva, MyC4) – participants driven mainly by social motives
– other concepts (e.g. Virginmoney “We manage loans between family and friends“)
New payment methods
19 January 2016
Bank of China, London 14
Fees:
– borrowers:1% of the funded loans
– lenders: 0.5% annual loan-servicing
New payment methods
19 January 2016
Bank of China, London 15
get information on standard interest rates and default rates associated with the various credit rating levels
make judgments about reasonable payments and risk levels.
bids with the lowest rates combined to produce a single loan ( repaid over three years).
payments drawn from the borrower's bank account and sent to the various lenders' accounts.
.
New paymentmethods
19 January 2016
Bank of China, London 16
Source: P2P-banking.com
New payment methods
19 January 2016
Bank of China, London 17
Situation
• Card based payments
• Network money
Mobile payments
• Possibilities
• Services
• Costs
• Demo
Peer to peer payments
• Possibilities
• Services
• Costs
• Demo
Friends to family
payments
New payment methods
19 January 2016
Bank of China, London 18
facilitator of friends and family p2p loans in the US
does not do the matchmaking between borrowers and lenders,
supports the process between persons that already had offline
relations
number on loan volume generated was 390 million US$.
acquired predecessor Circlelending in 2007
New payment methods
19 January 2016
Bank of China, London 19
New payment methods
19 January 2016
Bank of China, London 20
New payment methods
19 January 2016
Bank of China, London 21
© kpmg.com
New payment methods
19 January 2016
Bank of China, London 22
https://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/social-banker/Documents/the-social-banker-v2.0.pdf
New payment methods
19 January 2016
Bank of China, London 23
New payment methods
19 January 2016
Bank of China, London 24
