The Kids Want Chat

Can you guess Gen Y’s most used feature on a mobile phone? Here’s a hint:  isn’t making phone calls. The most popular mobile feature among Gen Y is texting. Consequentially, the today’s hottest apps cater to Gen Y’s need to talk through their thumbs: Yik Yak, What’s App, Messenger and Kik being just a few examples. Unfortunately, mobile banking providers have missed out on this trend.     Read the rest of this entry »

Will Facebook’s Messenger P2P Platform Be a Success?

Facebook continues to search for increased consumer mindshare and new sources of revenue as it moves further into the consumer payment and purchasing space. In the past two weeks, Facebook announced that it would be bringing out a platform for Messenger, with an API, business interface, and a developer program and, most importantly, a P2P payments offering. By doing so, Messenger is  following in the footsteps of the example set by cross-platform messaging competitor Read the rest of this entry »

The Flawed Mythology of The EMV CNP Explosion

A colleague of mine forwarded me an inbound email for an upcoming conference the other day titled “Chip Cards to Result in Massive Online Fraud”, asking where I stand on this, as if he didn’t know that this was effectively lighting the blue touch paper on a Roman Candle and  running for cover. I replied with a three word answer…

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Apple Watch is going to Sell Out

Apple Watch is Tim Cook’s first new product launch, and the Cupertino-based company is doing everything in its power to make sure it succeeds. Javelin is cautiously optimistic; we’re already crunching consumer data to prepare a report on how to build banking, payments and retail experiences for Apple Watch and other smartwatches. No matter how many new devices we see hit the market, it’s always interesting to look at the theatrics behind a successful launch (or at least a seemingly successful launch).

Apple is reportedly heavily restricting inventory for its April 24th release data, likely gearing up for headlines saying the device is sold out (an age old trick). Potential customers are being advised to reserve the devices ahead of time and book in-store appointments to try on the devices beginning April 10th. Those with eyes on the Sport and standard Apple Watch can reserve 15 minute periods to try on the devices, reportedly during which they’ll receive fashion advice from blue t-shirt wearing Apple employees. Demos of the $10,000 and up Apple Watch Edition will last 30 minutes.

It’s been eight years since Apple released the highly popular iPhone. Five years have passed since the first iPad hit the market. Now it’s time for Apple Watch. And Javelin is going to be the first with the most comprehensive report on Apple Watch strategies for banking, retail and payments. Our new report will be available to Javelin subscribers April 2nd.

Trust and Technology

Javelin recently put out a report, Trust, Technology and the U.S. Consumer, that tracked the long term effects of the interplay between innovation and trust. Technology providers like Apple, Google, Amazon, PayPal-eBay, and Facebook have been making solid gains in consumer perceptions of trust and privacy since 2011, while top banks and payment networks have lost ground.

As devices become more personal, the information we can collect becomes more sensitive. Eight in 10 consumers feel it is important to have a choice regarding the personal information that is collected when they use a mobile device—and the number shoots up to 9 in 10 for those who are likely to use contactless payments to buy items in stores in the next 12 months.trust tech

Trust will be key to gain adoption in mobile wallets and mobile payments. Clear disclosure of the data collected and the reasons for collection will be a factor in keeping and gaining consumer trust as more companies begin to mine consumer data for ever more elusive returns. Consumers are willing to give up privacy when the returns are right, but there will be a strong backlash against firms that don’t play by the rules.

Americans Are Finally Ready for Biometrics in Banking

For decades, the U.S. financial industry has toyed with heavier integration of physical characteristics as a proof of identity. Over the last five years, the clamor to do so has progressively increased, with little to show for it. Even with the hype, most people have limited interaction with any biometric system on a regular basis. One was inclined to say that biometrics are the authentication of the future – but probably always will be. Consumers Trust Banks with Biometric Information

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