Bitcoin, iBeacons, Digital Gift Cards...Experts Talk Change!

On Payments Podcast Interview Series – Recap and Round-Up

By Marc Dresner, Senior Editor, IIR

I don’t need to tell you that the world of payments is changing dramatically.

But with APEX—the All Payments Expo—kicking off next week in Las Vegas, it seems prudent to revisit what’s been kicking around in the heads of industry experts lately.

Over the past couple of months, On Payments—a special podcast interview series produced by APEX—has featured a variety of thought leaders at the forefront of the payments and stored value industries and retail.

To prime the pump for those stimulating conversations you’re sure to have at APEX next week, here’s a quick round up of the guests we've featured and the topics they covered.

I urge you to introduce yourselves to these fascinating folks in person and continue the conversation next week.

Safe travels and enjoy the show!

David Berger

EPISODE ONE

Bitcoin may be closer to a mainstream tipping point than you realize. David Berger, CEO of the Digital Currency Council, shares the latest on the growth of virtual tender and talks about his organization’s mission to equip lawyers, accountants and financial professionals for the emerging digital currency economy.

Check out the interview here

Chris Adamo

EPISODE TWO

Digital gift cards will overtake plastic in the next 1-2 years, says Chris Adamo, Manager of Partnerships & Gift Cards at 1-800-FLOWERS. In this episode, Adamo talks about the digital florist’s experience with e-cards thus far and why the impending consumer migration from plastic to digital is good news for retailers.

Check out the interview here

Ryan Craver

EPISODE THREE

Retailers are experimenting with iBeacons as both a marketing and a payments tool. Ryan Craver, former SVP of Corporate Strategy for Lord & Taylor/Hudson’s Bay, discusses how the retailer tested the technology and what he sees ahead.

Check out the interview here

Rik Willard

EPISODE FOUR

Cryptocurrencies are rapidly approaching an inflection point in emerging markets with dramatic implications for the rest of the world. Rik Willard, CEO of MintCombine, discusses how development of cryptocurrencies in emerging markets will disrupt the status quo and rewrite the rules, and what the future may look like.

Check out the interview here

Ryan Lazanis

EPISODE FIVE

Businesses are struggling with Bitcoin tax questions. Ryan Lazanis, CPA, CA and principal of Xen Accounting discusses the potential tax implications around using cryptocurrencies and offers tips for individuals and companies interested in expanding into digital currency payments.

Check out the interview here

Editor’s note: The folks interviewed in On Payments are but a few of the industry experts and thought leaders who will be a featured at APEX 2015—The All Payments Expo—taking place February 23-25 in Las Vegas.

IT’S NOT TOO LATE TO JOIN THEM!

Click here for an agenda or to here register for APEX. 

Or visit www.allpaymentsexpo.com.

SAVE $100 off registration TODAY with promo code: XU2848BLOG

ABOUT THE AUTHOR / INTERVIEWER 
Marc Dresner is IIR USA’s sr. editor and special communication project lead. He is the former executive editor of Research Business Report, a confidential newsletter for the market and consumer research industry. He may be reached at mdresner@iirusa.com. Follow him @mdrezz.

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Lord & Taylor / Hudson's Bay iBeacon Pilot Shows Promise

Former Hudson's Bay/Lord & Taylor CSO: iBeacon Engagement "Phenomenal" But Does it Have a Future in Payments?

By Marc Dresner, Senior Editor, IIR

The shopper’s path to purchase took an exciting turn in mid-2013 with Apple’s introduction of the iBeacon (followed in short order by a bevy of beacon competitors, of course).

And then things got quiet as everyone went off to play with the shiny new toy…

The attraction is a no-brainer. The ability to beam marketing messages, coupons, etc., to the shopper’s phone in the store while they’re actively shopping and to then check them out at POS is something with the potential to revolutionize retail.

According to Business Insider, about half of the top 100 U.S. retailers have been testing beacons and it estimates the technology will be installed in roughly one-third of stores by the end of 2015.

Indeed, everyone from Walmart to McDonald’s to Major League Baseball has been trialing the Bluetooth transmittors.

Ryan Craver

And the results from those tests are now, finally, slowly trickling into news reports.

So I was pretty excited to learn that Ryan Craver, former SVP of Strategy for Lord & Taylor/Hudson’s Bay Co. and who had spearheaded a beacon test for the department store chains, was available to discuss the results.

Craver and his colleagues tested beacons in three different store environments in the U.S. and Canada ahead of a 140-store rollout. (Author's note: The initiative won Mobile Marketer's 2014 Program of the Year. It's toward the end of the linked article.)

And the results were mixed, but very promising.

“The open rates were phenomenal!”

“Our first hypothesis was that the engagement numbers would be off the chart. That held true. The open rates were phenomenal,” Craver told On Payments.

The beacons did not, however, drive traffic in the numbers Craver expected.

Craver says that’s because the app simply isn’t ubiquitous…yet.

“Once beacons are integrated into apps like Facebook and Twitter, we are going to see much, much bigger numbers.”

“Beacon ecosystems haven’t built up yet. But once they are integrated into some of the apps like Facebook and Twitter, we are going to start to see much, much bigger numbers,” Craver predicted.

But whether beacons have a future as a payments tool is questionable. Craver notes the growing popularity of NFC platforms makes it less likely.

“By the end of 2015 or early 2016, all retailers will need to have chip-and-PIN POS.”

“By the end of 2015 or early 2016, all retailers will need to have chip-and-PIN point-of-sale equipment and that will naturally lead to additional retailers that have NFC capabilities,” Craver said.

“So, maybe NFC beats out beacons?” he added.

In this podcast for On Payments—the All Payments Expo (APEX) interview series—Ryan Craver discusses Lord & Taylor’s beacon study, opportunities and challenges for retailers and whether or not the beacon will be the it app for shoppers.

Access the podcast and a transcript here!

Editor’s note: Ryan Craver will be a featured speaker at APEX 2015—the All Payments Expo—taking place February 23-25 in Las Vegas.

For a brochure or to register for APEX, please visit www.allpaymentsexpo.com.

Ps. LAST CHANCE! REGISTER and SAVE $200 by FRIDAY 1/23 with promo code XU2848BLOG

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