A Look Back: The Pulse of APEX 2015

Take a look at what attendees had to say at the 2015 All Payments Expo

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Live at APEX | Building New Markets, New Business and New Marketing Power in the Prepaid World

Building New Markets, New Business and New Marketing Power in the Prepaid World

Cathy Corby Iannuzzelli, Corby & Company, Inc.

Patrice Peyret, Banking Up

Jack Pyros, Momentum Groups

Andrew Siden, NexisCard/Prepaid Ventures, LTD.

Moderator: Omri Dahan, Marqeta

Prepaid Adoption: 

49% of Americans do not want a credit card

79% of millennials use prepaid

The lifecycle of innovative prepaid programs:

Program design

Selecting the right partners 

Program build

Going to market

Getting to scale

Pulse of the Session: Insights from the panel of experts

- One card to manage all aspects of a card program is a very exciting trend in prepaid.

- There has been a recent explosion of new uses for prepaid to move money in a more intelligent way.

- Prepaid becoming a part of the lexicon of how money gets moved.

- What is the future of banking? More integrated financial services. And the compartmentalization of prepaid is going to power that.

- Prepaid could be the precursor to credit. 

- The industry is in the beginning steps of exploiting data analytics to better serve the consumers needs.

- The market is moving so fast that you may be left behind before you can actually get to market. Finding the right partners is a key way to avoid this, it is the single most import aspect.

- Prepaid is an access device - ApplePay is a new way to access these funds - slicker, faster, more convenient - and there will be others to come. 

- Leveraging what apple is doing today is critical.

- ApplePay is non-threating for the people in this room.

- Until all ATMs allow you to take cash out from your phone, plastic will still be here.

- Major regulatory concern for prepaid - Data breaks. A lot of the information that is getting out from these breaches is the very information that you use to validate the identity of a customer. 

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Last Chance to Register for APEX | Save $100

All Payments Expo 2015 is taking place next week at Caesars Palace in Las Vegas, but is it not too late to register. Save $100 now by using the code XU2848LNKIN | Register here. 

All Payments Expo is the annual meeting place at the intersection of payments innovation, including emerging payments, prepaid, alternative financial services, retail and technology. APEX attracts the highest caliber of payment decision makers. Attendees span every link of the value chain, from merchants to card networks to banks to entrepreneurs - allowing you access to decision makers with several potential partners at once.

You do not want to miss this, see you in Las Vegas!

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The Retail Prophet will Keynote at APEX

Doug Stephens, one of the world's foremost retail futurists, has influenced some of retail's most recognizable brands, including Target, Home Depot, Disney, Crayola, Citibank and more.

Otherwise known as The Retail Prophet, Doug's keynote at APEX will explain how consumers' evolving expectations, desires and shopping behaviors should reinvent how retailers think, from bricks to clicks.

• How can brick & mortar stores evolve to be as responsive as websites?
• How will channel fragmentation affect your current strategy, and how should you think ahead?
• What strategies work best to increase conversion, brand awareness and loyalty?
• How you should completely re-think your current gift card model

Don't miss his keynote on Tuesday, February 24 at 11 a.m. Register here to secure your spot. Remember, you can save $100 with the code XU2848BLOG.

RETAILERS: Doug is hosting a special retail-only lunch following his keynote. To request an invite, e-mail Diana Middleton at dmiddleton@iirusa.com

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Is 2015 the Year for the Bitcoin?

Alternative payment systems are becoming more prevalent in the payments world and there are many new systems that diminish the need for traditional banking processes. Bitcoins, which came about in 2009, are a currency used that are increasingly being looked at as another alternative payment system in the future.

Bitcoins are an online payment currency that have been revolutionary since their creation for being able to make peer to peer transactions without a middle man, i.e. not having to use a bank. Transactions can also be anonymous and there are no fees which make them very efficient and useful for consumers. ANX have recently issued a Bitcoin debit card which can be shipped to users and is the first Bitcoin debit card to allow users to pay with Bitcoins with the traditional credit card payment system, online and for carrying out cash withdrawals. The card supports 10 different currencies and sold out within 24 hours of being available.

The new card could mean an increase in interest in Bitcoins and their flexibility and versatility for payment could mean an upsurge in popularity. Being able to transfer money easily online without transaction fees or needing bank transfers is very useful for a consumer and so using Bitcoins means large savings on transaction costs. Also being able to pay now with Bitcoins means less dependency on banks and ATMs to get out cash.

However, there are still question marks regarding Bitcoins and the events of 2014 hit their credibility hard. Ross Ulbricht, the alleged creator of Silk Road, an online drug marketplace where Bitcoins are the currency, has recently been found guilty of charges related to drug trafficking, money laundering plus more and faces a minimum of 20 years in prison. Bitcoins are seen by many as a resource for illegal activity and is still generally not particularly well known globally.

An issue raised by many is the problem with the sporadic nature of the Bitcoin’s value. The value of the Bitcoin today is below $250 whereas at its peak in 2013 it reached a little over $1200. Will the volatility of the value affect a day to day consumer’s interest in getting an ANX debit card or even investing in Bitcoins in the first place? There has however been a lot of investment in Bitcoins by large investors, who say that there simply is a need for one ‘killer app’. In 2014, around $300 million was invested in Bitcoin startups, with startup apps such as ‘Purse.io’ which sources Amazon credits or gift cards and people can buy them off someone looking to get rid of them for Bitcoins.

2015 will be a very big year for the Bitcoin and the next year or two will be crucial to see whether it can evolve into a vital resource in the payment world. Better security and a stabilization of the value are important for whether other big companies such as ANX may invest and provide payment services that cater Bitcoins. This new card could mean even less reliance on traditional payment systems and pave the way for payment systems using Bitcoins.

Cryptocurrency has the potential to be the biggest commerce disruptor since the web. Now is the time to evaluate and leverage the inherent opportunities in Bitcoin's transactional currency applications and the underlying protocol.

All Payments Expo is rife with opportunities for cryptocurrency and mainstream payment systems to dissect potential partnerships and implementation challenges. Companies looking to invest, partner, or acquire new technologies will hear from the most provocative cryptocurrency leaders.

To see all APEX has to offer, download the agenda.

Register now and save $100 when you use the code XU2848BLOG.

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Eliminate Payments Risk at All Payments Expo

Rules, Regulation and Compliance

With innovation comes risk. And where there's risk, there's rules, regulation and compliance - plus, lots of uncertainty.



At All Payments Expo, you'll get the legal analysis and regulator face-time you need to decipher how new regulation developments, fraud trends and lingering uncertainties will impact your payments product or program.

Get Analysis on:

• CFPB-led presentation on its proposed rules for prepaid
• How fraudsters are gaining access to a wide variety of payment access devices, with insight from the FBI and the Federal Reserve Bank of Atlanta
• Analysis on EMV's maturation, and the subsequent impact on payment fraud
• The legal implications of Bitcoin, and how partnerships can satisfy compliance requirements
• How to improve the compliance relationships between prepaid program managers and issuers
• Eliminating gift card-based fraud in-store, online and third-party
• How to boost approval for your product innovations, enhancements and add-ons throughout the regulatory lifecycle
• How non-traditional payments companies and MSBs can better access financial services

View the APEX agenda.

At APEX, you'll have a tailored line-up of legal analysis, regulator access and real-world takeaways. Don't risk your program's growth - get ahead of regulation now by attending APEX.

Save $100 when you register with the code XU2848BLOG

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This Year, Fraudsters are on the Prowl

 
"In the wake of recent security breaches, 63% of organizations have either adopted additional security measures or are planning to do so in the near future." -- AFP Payments Fraud and Control Survey



It's been a year since some of the nation's largest retailers were targeted by fraudsters during the crush of holiday shopping. And from data breaches to account takeovers to e-commerce fraud, there's still trouble percolating.

Dissect the Latest Strategies for Fraud Prevention at APEX

At APEX, you'll take actionable steps to drill into the latest fraudster tactics, prevention strategies and technology aimed at protecting customers, retailers and banking & payment institutions alike.

Some of the strategies being dissected in February:

• Preventing gift card fraud from employee and external forces, direct from loss prevention retail executives
• Analysis on the migration from brick and mortar fraud to e-commerce, including the latest schemes
• Technology that can avoid false positives and avert negative customer experiences
• The impact of tokenization and ApplePay in fraud reduction
• Latest info on EMV integration
• Need-to-know information from the FBI, National Cyber-Forensics & Training Alliance and National Anti-ORC Association

Download the full agenda here.

By attending APEX, you'll take critical steps to protect your customers and your reputation - and stay ahead of fraudsters' evolving efforts to compromise the safety of your institution. Save up to $200 if you register by January 23rd! Use the code: XU2848BLOG | Register here.

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Your Holiday Gift from All Payments Expo | Register by Friday 12/19 & Save $300

Register by December 19th and save $300 - Use the code XU2848BLOG | Register.

Find Your Next Buyer at APEX

With more than 1,300 global payments players on the hunt for new technologies and partners, APEX is the best place to kick off 2015 with meaningful meetings and new business opportunities.

 

 Meet the executives with buying power to take your business to the next level. 

 

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Register for All Payments Expo by Friday to Save $400!

Designed to Help You Find New Partners and Grow Business

2015 promises to be a big one for payments players with the world shifting toward lightning-speed disruption from technology and data players; new currencies and form factors entering the fray; and a vast need to uncover new customer segments to avoid market saturation.

Start the year right at All Payments Expo, the only payments event designed to help you find new partners and do business on-site.

You'll save $300 if you sign up for All Payments Expo by Friday, Nov. 21, but use the code XU2848BLOG and save an extra $100 – total savings of $400!

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All Payments Expo Agenda Now Available!

All Payments Expo is your Q1 meeting place to execute 2015 strategy:
 
• Meet with Existing Partners & Clients in Prepaid, Gifting and Incentives
• Meet New Prospects in Omnichannel Retail and Disruptive Technology
• Get Free Meeting Space and Intuitive Technology to Find, Vet and Manage Meetings

 

Download the Agenda Here

New Ideas from these Payments Movers and Shakers to Keep You Competitive:
1-800 FLOWERS
Macy's
Emerge Financial Wellness
Softcard
Gliph
Boom Financial
GoCoin
Digital Currency Council
Paybefore
Darden Restaurants
NBPCA
PayPay Financial
SavedPlus
Flash Foods
Ethereum
Overstock.com
Coin Capital
CVS
Connexions Loyalty
TechCafe
Transcard
Locke Lord
Gx
Hudson Bay Co.
Paybefore
Dorado Industries
Cabela's Inc.
YellowPay
Dravis Group
SeaWorld
Home Depot
Strategic Counsel Corp.
Women's Annex Foundation
Cold Stone Creamery       
Federal Reserve Bank of Atlanta
Wallaby Financial
Papyrus
GoBank
Fandango
FBI
Verifone
Sears Holdings Corporation
Icon Capital Reserve SA
Mobetize, Corp.
Groupon
Bain Capital Ventures
Xerox
Regions Bank
Mercator Advisory Group
Moven
RK Incentives
Cirque du Soleil
Coinsetter
Socure
Sparkpr
SnipSnap
Unidos Financial
National Anti-ORC Association
451 Research
Square
MacAngel LLC.
Transact24
Datzing
Domino's
BankingUp
Rebellion Lab
DineEquity   
Momentum Groups
Accion Venture Lab
Drizly
Bryan Cave
Toys R Us
Plug N' Play
Rushcard
Tally Capital
Keefe Bruyette & Woods
Claire's
U.S. Senate
BitGo
BitPay
Mercator Advisory Group
BigDoor
Central Bank
Wal-Mart
Cracker Barrel Old Country Stores
General Catalyst Partners
HouseTab
Bitcoin Strategy Group
EMV Migration Forum
NCFTA
Self Synthesize!
Gift Card Network
Fiserv
MintCombine
Giftcards.com
Logbar, Inc.
Hyatt Incentive Rewards
Libra
Davis Polk & Wardwell
Kofax

Register for All Payments Expo 2015 now! Use code XU2848BLOG to save $100 off the current rate – total savings of $400 when you register by 11/21 – Register here.

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Register for APEX by this Friday 10/24 to Save $500!

Rates for All Payments Expo 2015 go up after this Friday, 10/24 make sure you register now to maximize your savings. Register now and save $400 off the standard rate, but you can save an EXTRA $100 when you use the code XU2848BLOG - Total savings of $500! Register here.


Increase deal flow and new partnerships for your business by harnessing the changes happening in payments and commerce being discussed at All Payments Expo 

The APEX experience will support every aspect of your strategy - from customizable content across four forums to a complimentary meeting platform, complete with bookable free meeting space, powered by partneringONE


Here's what's new for 2015:

Tailored Forum
Customize your content and hand-pick your sessions across four different focus areas ripe with partnerships, innovation and business development opportunities: Prepaid, Disruptive Technologies, Omnichannel Retail and Gifting/Incentives.

Meet the Regulators
Meet with the regulatory bodies and law enforcement agencies who are impacting your business. Take advantage of this relaxed, informal way to meet and educate the regulatory community.

Private Boardrooms
Exclusively for seasoned executives, APEX has developed four private discussion-based sessions that delve into the most pressing challenges facing the industry. These discussions are private, off-the-record and limited to 25 participants.

Private Retail Exhibit Hall Tour
Retail participants will get exclusive access to the exhibit hall while it is otherwise closed - plus a tour of new technologies led by Martha Weaver, Executive Director, Gift Card Network.

Women in Payments Lunch
A mentoring and networking opportunity build just for women in payments. Conversations built around the biggest questions circulating the industry, including the impact of mobile and cryptocurrency on payments.


Book by this Friday to lock in the lowest possible price ($500 savings) and get access every tool to build your business. Use the code XU2848BLOG to save. Register now.

If you have any questions about the event, please reach out to Ryan Geswell at rgeswell@iirusa.com

See you in Las Vegas!

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All Payments Expo 2015 - Dates Announced

All Payments Expo is THE meeting place for the world's most successful merchants, payments companies, banks and technology firms. Industry leaders come together to create partnerships, launch new products, develop new business and explore innovations 

Download your APEX Sneak Peek here!

Top Reasons to Attend:

More Retailers

APEX attracts 300+ retailers annually to meet with vendors, re-sign contracts and scout out new potential vendors. Retailers also meet with peers for industry benchmarking, networking and to uncover tactics and challenges to grow programs across plastic and digital platforms.     

New Faces

You'll meet more executives who are relevant to all the areas of your business, with a flood of new participants. New attendees hail from retail's IT, Marketing and Corporate Strategy functions; new app developers (from wallets to loyalty); alternative financial services  CEOs, merchant acquirers; cyptocurrency players and more.

Secure Meetings

All APEX attendees will have access to the attendee list on our proprietary partneringONE platform, where you can vet potential partners and easily pre-arrange meetings. More than 5,000 meetings take place onsite annually.          

Growth Opportunities for Prepaid

With prepaid maturing, this is THE place to identify new customer segments, distribution opportunities and use cases that take your prepaid business into unsaturated territory.

Register now and you can save $400! Plus, as a blog reader you can receive an extra $100 off the standard rate, by using the code “XU2848BLOG”, a total savings of $500 - Register Now! 

See you in Las Vegas! 

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Live From All Payments Expo & FinTech Partnerships - Morning of Day 2

The first session of the morning was a very informational discussion -  Partner or Perish: Corporate Venturing's Role in Payments Partnerships

Moderator:
Jim Hale - FTV Capital

Panelists:
Robert Schiff - McKinsey & Company
Kevin Jacques - Intuit
Jay Reinemann - BBVA

Presentations from:
Shamir Karkal - Simple
Michael Diamond - Mitek

Discussion highlights:

2013 Corporate Venture Capital Investment in US:
- First non bubble year ever that more than 10% of the total VC deployed came from corporate VC groups
- Total CVC invested up to 39% in 2013 over 2012 (3.1B vs 2.2B)


Pitfalls to get VC partnerships started - how to go to market and convince your corporate management team:
- Executive leadership team, forward thinking and understanding the problem
- Show the cycles to your management team, walk them through the longevity
- Need curiosity
- Be careful how you set up the governance mechanism

You need to measure success both strategically and financially - where is the partnership going and are you on the right path?

Remember to track the impact that your team is having.

10 years ago advantage rested alone with the largest companies - today the situation is almost completely reversed because of small and medium businesses new adoption and solutions.

2.5 million money making households outside the banking industry - tapping this market has a high potential. The concept; build new payment rails that will force adoption.

Thank you to the outstanding panel and stay tuned for more live recaps from All Payments Expo & FinTech Partnerships.

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Prepaid Debit Cards: Safety & Security in Logistics Warehousing

Guest Post by ODW Logistics 


Third-party logistics providers work to ensure that the supply chain management of prepaid debit cards includes consumer protection. Safety and security are important factors when handling this sensitive product.


 Here are some factors to consider:

• To be a sophisticated provider, the first area of protection starts with the warehouse entrance gate. All visitors and employees are registered to keep potential security threats at bay.

• Other important safety and security precautions to consider in a prepaid products warehouse provider include: automatic police dispatch, alarm fitted fire doors with a safe escape, trip hazard floors, semi annual inspections on equipment to ensure everything is working properly, disaster recovery plans and required certifications.

• Hiring trustworthy employees to join your staff is quite possibly the most important factor.  Your product and customers are not going to be safe if your 3PL does not screen employees and verify they undergo the correct training.  

Each prepaid fulfillment operation will have its own characteristics based on customer demand. When choosing a 3PL or other fulfillment company to manage your prepaid products, some or all of these factors may or may not apply.

_________


Guest post by All Payments Expo exhibitor, ODW Logistics

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Last Chance to Register for All Payments Expo

There is just 1 week left until All Payments Expo – a gathering of 1,500+ industry doers and thinkers. With new business opportunities across the entire payments ecosystem, this is a must attend event for all payments industry professionals. Don’t miss out – register for APEX today! Use code XU2748BLOG to receive your 10% discount.

Register Here 

See you in Las Vegas!

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10 minutes can send you to APEX 2014 on a free pass!

What does compliance cost your organization? What are the risks? How does your organization navigate the regulatory environment? The All Payments Expo (APEX) is just around the corner March 3-5 and more than 1,500 payments pros will converge on the Las Vegas Mirage Hotel to share their expertise, hear the latest industry updates and find real solutions to their business challenges.

If you've been hoping to attend, but haven't made it happen, you are in luck! The prepaid compliance experts from Card Compliant want to send you to APEX on a free conference pass, and give you access to some of the latest industry thinking and trends on regulatory, accounting and unclaimed property compliance.

Simply take this short 10-question survey to be registered to win a free APEX conference pass, valued at $2,295 and obtain access to Card Compliant's exclusive compliance survey report.

 Take the survey now.

The survey closes Monday Feb 24, so respond now to be included in the drawing for a free pass. Respondents will receive the survey report in the few weeks following the show and can get a sneak peak during one of the APEX Immersion Lab sessions on Tuesday, March 4 at 11:30 am: Regulatory and Revenue Strategies: Maintaining a Profitable Program.  Hope to see you there!

Questions about the survey or regulatory compliance?  Email us at info@cardcompliant.com.

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Square Inks Payments Partnership with Whole Foods

Via Mashable
 
Early this morning, Square and Whole Foods announced a partnership to process payments at select locations.

This is Square’s first partnership with a major grocery chain – this Whole Foods partnership is Square's most prominent retail partner since Starbucks agreed to use the startup's digital payment products in 2012.

“Whole Foods Market and Square share a focus on supporting local sellers and creating amazing shopping experiences,” Jack Dorsey, cofounder and CEO of Square, said in a statement. “With Square, Whole Foods Market will enable commerce in more parts of their stores with easy, accessible tools that showcase the best of what’s achievable in the service of retailers and customers.”

Square's point-of-sale system – The Square Stand – is currently being used at seven different Whole Foods locations and will be at more stores this year. However, Square is not being used for Whole Foods' main checkout lines - rather, the payment tool is being used at "in-store venues," including sandwich counters, juice bars and pizzerias.

As Square has been rumored to be prepping for an IPO, this partnership between Square and Whole Foods comes at a perfect time. Square reportedly generated more than $100 million in revenue last year and major partnerships like this one could help boost that number even higher.

All Payments Expo is where payments partnerships get started. The annual meeting place for payments professionals focused on areas of growth and convergence in payments. Our mission is to catalyze the partnerships necessary to build the next generation of payments, from the mobile environment to the brick-and-mortar POS.

Don't miss out - Register Today! 

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20% of U.S. Smartphone Owners Used a Mobile Wallet in 2013

One-fifth of U.S. smartphone owners – 40 million Americans – used a mobile wallet in 2013, according to Parks Associates. The firm goes deeper and forecasts that the number of mobile wallet users will continue to grow 183% to 113 million by 2017 – that is 43% of the U.S. smartphone owners.

The significant increase in mobile wallet adoption is projected due to the surge in new payment technologies. These new technologies have a much broader application than mobile wallet technologies of old – mobile loyalty programs along with in-store marketing, will give smartphone users and merchants a greater incentive to start using/accepting mobile wallets.

When thinking of mobile wallets, one often thinks NFC. However, the most used mobile wallet apps actually use barcodes/QR codes – for these apps there is no need for merchants to replace their POS hardware, a simple upgrade allows for adoption (unlike NFC wallets that require a new POS system).

At All Payments Expo this March, find partners to expand your commerce capabilities and determine how new devices are reshaping the payments business model. This is the only event that attracts the highest volume and caliber of decision makers from across the payments ecosystem. Attendees span every link of the value chain - allowing you to take your business to the next level, and solidify relationships with existing clients and customers.

Our mission is to catalyze the partnerships necessary to build the next generation of payments, from the mobile environment to the brick-and-mortar POS.

This is a MUST attend event – Register Today!

See you in Las Vegas!



Read the full article here.

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Register for APEX by Friday 1/31 to Save $200!

As a valued reader of our blog, you will receive an EXTRA 10% off the current conference rate! That is over $200 in extra savings – over $400 in total savings.

Register Here: http://bit.ly/1anEGNC

All Payments Expo is taking place March 3-5 at The Mirage in Las Vegas. All Payments Expo is the annual meeting place for payments professionals focused on areas of growth and convergence in payments. Our mission is to catalyze the partnerships necessary to build the next generation of payments, from the mobile environment to the brick-and-mortar POS.

It's a new year, and 2014 promises to be a big one for payments players. With new products being developed, competition intensifying and regulation and interchange rulings expected this year, partnerships are powering major moves in the next fiscal year.

Register now and lock in the lowest rate: http://bit.ly/1anEGNC

See you in Las Vegas!

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Q&A with Matt Davies, Executive Director, Gift Card Network

2014 All Payments Expo speaker Matt Davies, Executive Director, Gift Card Network sits down with APEX for a brief Q&A about the future of the payments industry. To hear more about the landscape of the payments industry from Matt, make sure you register for APEX today! And remember, blog readers receive a 10% discount - register here.


1) What is the most overheated opportunity for payments players? What is the most overlooked that should get more attention?

Mobile Wallets and its many iterations has dominated the discussion without bothering to define it. There are so many different concepts and approaches that the market is confused and will stay stagnant until a major player comes in and pushes the market in a specific direction with a goal that the public and merchant population has bought into and finds value in.

Education about the payments space is the most important thing for us to focus on. Startups needing merchant support must look at the things that merchants care about, and go about building their own brand and market share prior to asking for support, and educate and market themselves to their potential clients in a comfortable way.

2) What is one thing blocking innovation for payments in the U.S.?

The cultural difference between entrepreneurs, who are have incentive to break the rules, and the decision makers, who have incentive to create new rules or play by them. There is a vast difference between what CAN be done and what SHOULD be done for each particular merchant- we need to break down the psychological barriers and engage in neutral problem-solving conversations.

3) In ten years, what will be the new payment type that’s gotten the most traction?

Flat transaction rate credit and debit card providers. It's an ideal state for retailers to get away from the percentage based model, and it allows consumers to utilize credit.
 
That, or monkey-bucks.

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