New payments methods
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The document discusses new payment methods as of January 2016, focusing on mobile payments, electronic money, and peer-to-peer payment systems. It clarifies the distinction between mobile banking and mobile payments, and outlines various examples and costs associated with these payment methods. Additionally, it covers peer-to-peer lending and its social and economic implications.
New payments methods
- 1. New payments methods January 2016 H.Van deVyver
- 2. 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
- 3. New payment methods Terminology: Mobile banking vs. Mobile payments Many 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
- 4. New payment methods 19 January 2016 Bank of China, London 4
- 5. New payment methods 19 January 2016 Bank of China, London 5 © kpmg.com
- 6. New payment methods 19 January 2016 Bank of China, London 6
- 7. 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
- 8. New payment methods 19 January 2016 Bank of China, London 8
- 9. 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
- 10. New payment methods 19 January 2016 Bank of China, London 10
- 11. New payment methods 19 January 2016 Bank of China, London 11 https://www.paypal.com/be/ webapps/mpp/pay-with-app
- 12. 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
- 13. 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“)
- 14. New payment methods 19 January 2016 Bank of China, London 14 Fees: – borrowers:1% of the funded loans – lenders: 0.5% annual loan-servicing
- 15. 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. .
- 16. New payment methods 19 January 2016 Bank of China, London 16 Source: P2P-banking.com
- 17. 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
- 18. 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 predecessorCirclelending in 2007
- 19. New payment methods 19 January 2016 Bank of China, London 19
- 20. New payment methods 19 January 2016 Bank of China, London 20
- 21. New payment methods 19 January 2016 Bank of China, London 21 © kpmg.com
- 22. New payment methods 19 January 2016 Bank of China, London 22 https://www.kpmg.com/Global/en/IssuesAndInsights/Art iclesPublications/social-banker/Documents/the-social- banker-v2.0.pdf
- 23. New payment methods 19 January 2016 Bank of China, London 23
- 24. New payment methods 19 January 2016 Bank of China, London 24
- 25. Interested ? • Please contact us at h.vandevyver@celufo.biz 19 January 2016 25