The information you need to start your day, including top headlines from PaymentsSource and around the Web. In today's briefing:
Investors are anxious to know how PayPal's new data sharing collaborations with Mastercard and Visa will impact the company's financial performance. PayPal is expected to report a 13% increase in earnings per share and a 17% increase in revenue in the third quarter after the markets close today, according to Investor's Business Daily. The newspaper also reports investors will press PayPal to comment on how those deals, which require PayPal to give the card networks equal visibility as funding options, will affect financial performance in 2017. Analysts polled by Thomson Reuters expect PayPal to report a third quarter earnings per share of 35 cents per share on revenue of $2.65 billion, both of which would top second quarter results.
Since it launched a payments function last year, Facebook Messenger has been busy adding features that allow everything from bill payment to a pilot with Amex. It's now adding a 'bot' to aid shopping, partnering with eBay to narrow the best deals from over one billion listings. Called the ShopBot bot (best read silently), eBay said the tool is designed to aid consumers when more traditional search engines aren't doing the job.
Alibaba is seeking another $1 billion to fund geographic expansion and to accommodate China's fast rise in mobile payments, Bloomberg reports. Alibaba is seeking to raise a total valuation of $8 billion and is looking to build its own local services after selling its stake in Meituan Dianping, a local commerce company. Alibaba hopes to make gains in the broader "online to offline" market, which is expected to reach $1 trillion by next year in China. Also, Alibaba's affiliate Koubei reported $5 billion in payment volume through Alipay in the June quarter, or 48% growth over the previous quarter.
In the the near future, Siri's "daughter" will notice what you're eating based on your payments activity, and if it's unhealthy, suggest a corrective action. In a new outlook, KPMG says that by 2030, banking will be "invisible" with no call centers, branches or sales teams, leaving today's banks as white label providers of digitized services provided mostly by third parties. A highlight of this future, reported by the British technology wire Finextra, is EVA (Enlightened Virtual Assistant), a Siri descendent that uses advanced data analytics, voice authentication, artificial intelligence, connected devices, APIs and the cloud to provide layered services. For example, Eva will contact someone who's made a lot of payments at a fast food joint with an offer for a membership in a gym, book the appointment and make the payment--all at once.
From the Web (powered by Wiser)
Verifone Leads Effort to Define Newest Conexxus Mobile Payment Global Standard for Loyalty
Point of Sale News • Craig Aberle
ATLANTA – October 18, 2016 (NACS, Booth #3431)—Verifone (NYSE: PAY), a world leader in payments and commerce solutions, has brought top mobile technology providers, POS manufacturers and fuel marketers together at Conexxus to establish a new Mobile API standard. Verifone is the first to adopt and deploy this new standard, creating a more consumer-centric mobile commerce environment in gas stations and convenience stores—and at the pump—by allowing tightly coordinated interaction between mobile payment and loyalty applications.
Mobile Payments Awareness Grows, Cash Use Declines; Consumers Demand More to Make the Leap to Mobile, Accenture Survey Finds
NEW YORK--(BUSINESS WIRE)--An Accenture study finds that mobile payments awareness grows and cash use declines.
Loyalty and rewards key to consumers success with mobile wallets
Mobile Payments World • Alex Rolfe
Mobile wallets are finally starting to gain real traction with consumers, but many still need an extra push to turn their mobile wallet use into a true habit. Points has released a new study, “The state of mobile wallet loyalty and engagement."
More from PaymentsSource
First Data's Mobile Strategy Must Straddle Two Worlds
The EMV and mobile wallet movements have split the retail industry, leaving payment companies in the delicate position of having to support clients with very different technological profiles.
Faster Payments Pose a Real-Time Threat to Fraud MonitorsIn a world that is moving faster than ever before, consumers complete transactions at the register with a simple tap of a phone and transfer money across accounts in seconds.
Mastercard Deal at Forefront of Third-Quarter Payments M&AMastercard's $924 million acquisition of VocaLink represented the highest value acquisition in the payments industry during the third quarter of 2016, according to Berkery Noyes' mergers and acquisitions trend report.