Payment innovation: Take the better option now by Wesley Yuhn As technology becomes even more central to our lives, innovation is spilling over into everything on a global scale, including retail. And when small and great sums of money are on the line, you can be sure all parties involved will work tirelessly to protect themselves. Consumers are faced with more payment options at the check-out counter and online than in any other period in history: cash, credit, debit, mobile payments, biometrics — the list goes on. The embrace of advances in FinTech inspires a notion of security and reduction in fraudulent activity. However, it’s necessary to examine what requirements should be prescribed given the digital divide that still exists in both developed and emerging economies.

1. Payment Innovation
Payment Innovation: Take The Better Option Now….

2. Payment Innovation: What’s Trending By Wesley Yuhn

3. Payment Innovation: What’s Trending By Wesley Yuhn
 As technology becomes even more central to our lives,
innovation is spilling over into everything on a global scale,
including retail. And when small and great sums of money are on
the line, you can be sure all parties involved will work tirelessly
to protect themselves.
 Consumers are faced with more payment options at the check-
out counter and online than in any other period in history: cash,
credit, debit, mobile payments, biometrics — the list goes on.
The embrace of advances in FinTech inspires a notion of security
and reduction in fraudulent activity.
 However, it’s necessary to examine what requirements should be
prescribed given the digital divide that still exists in both
developed and emerging economies.

4. Payment Innovation: What’s Trending By Wesley Yuhn
 Let me preface this by saying this piece is not intended to be
hostile toward innovation. In fact, I’ve devoted my career to
championing innovation and believe technological advances
have had innumerable positive impacts on our society.
 Have said that, every industry needs to seize any opportunity
in order to make better and more productive then what we
currently have, while simultaneously developing and
introducing next-generation technologies. The current debate
around payment technology and the FinTech space is a prime
example of this.

5. Payment Innovation: What’s Trending By Wesley Yuhn
 When discussing advancements in payment options, many
immediately think of PayPal, Amazon Payments, Google and
Apple Pay, which garnered a lot of attention when they were
released. Driving home this point are the regular segments on
morning shows touting mobile payments as “the next big thing.”
Thank you, Matt Lauer.
 But as The New York Times reported earlier this year, consumers
are simply not making the shift to mobile payments. According to
the article, a recent survey found that an estimated $8.7 billion
in purchases were made with phones in 2015, a paltry 0.2
percent of the estimated $4.35 trillion of in-store sales last year.
Another new market report projects the mobile point-of-sale
market will only reach 38 percent by 2024. So yes, mobile
payments are the next big thing — as long as by “next” you mean
years from now.

6. Payment Innovation: What’s Trending By Wesley Yuhn
 Mobile payments technology has plenty of hurdles remaining,
from innovation to adoption to deployment. For instance, how
many retailers — large and small — have payment terminals
capable of accepting mobile payments? Not many.
 And while there haven’t been detailed studies tracking how
many retailers currently accept mobile payments, studies have
shown that just over half of American retailers currently accept
new chip-enabled cards — which is not really retailers’ fault. In
the end, it all comes down to having the most up-to-date
payment terminals. If a vendor does not accept chip cards,
chances are slim it is taking mobile payments.
 We’ll get into chip cards later.
 Read More.. Financial Technology Daily and TechCrunch

7. Payment Innovation: What’s Trending By Wesley Yuhn
 http://techcrunch.com/2016/08/24/payment-innovation-
take-the-better-option-now/
 https://www.linkedin.com/pulse/payment-innovation-take-
better-option-now-wesley-yuhn?trk=mp-reader-card
 http://wesleyyuhnfintech.com/