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Digital Payments Lack the Framework for Success…And That Needs To Change

Co-authored with Mark Kovarski

In an era of constant technological evolution, our utilization of different technologies, including mobile devices, has had massive impact on the financial services industry. As a result, the industry is facing major disruption as new technology translates into new ways of exchanging value (money). In fact, digital payment concepts are constantly developing, with technology advances changing the payment universe as we know it. Disruptive innovations, such as Apple Pay, continue to gain scaled acceptance globally. Contactless payment solutions could take us a step further towards getting rid of the security and convenience shortfalls of traditional credit and debit cards, but it’s important that a capable, secure network is put in place before digital payments can truly flourish.

The Changing Payments Landscape

The first official currency was introduced in Turkey in 600vBC and, around 1661 AD, coins evolved into bank notes. In 1946, the first credit card was introduced and since the start of this century technology advances have disrupted the world of money more than once. In 1999, European banks started offering mobile banking while in 2008, contactless payment cards were issued in the UK for the first time. Now, driven by mobile and Internet technologies, we are in the early stages of fundamentally changing how we perceive the concept of money. Financial control is no longer only in the hands of the financial industry. Today, entrepreneurial minds are connecting us to our (and others) money in new and innovative ways.

Smartphones and tablets have recently become common devices with 79.4 million U.S. consumers who shop online. According to (source) 51% of U.S. digital buyers are expected to make purchases using a mobile device. New services like Apple Pay and mobile payments (M-payments) are becoming increasingly common in financial services. The questions we must begin to consider are, who will be the key providers in the financial services market in the future and what sort of payment ecosystem will emerge? Read More »

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Looking for Money in New Places

There are some innovative ways to make money nowadays, and sometimes kids can come up with new ways that we hadn’t thought about.  For examples, we know some kids in the area who are raising money for various charities.  Instead of asking their relatives to sponsor them or going door-to-door to the neighbors to get the money, one child decided to sell duct tape wallets and homemade potpurri, while another decided to sell her book collection to raise money.  Those kids clearly are thinking about new ways to get money for something old and traditional.

Dad & Kids

In the world of service providers and networks, the demand for new and better services continue to grow, while the networks must expand and quickly adapt to these demands.  One way that operators are evolving their network is to Read More »

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IoT Meets Standards, Driving Interoperability and Adoption

For years, industrial control systems have been characterized by proprietary devices, protocols, communications, and applications. However, at the Hannover Fair last spring, virtually every exhibitor showed products that support IP, Ethernet, or Wi-Fi interfaces—something that would have been unthinkable just a decade ago.

The Internet of Everything (IoE) is driving this change, with an exponentially growing number of connections among people, process, data, and things. The Internet of Things (IoT) is a key enabler of this evolution. By 2020, according to Cisco’s analysis, there will be 50 billion connected devices—all needing a common way to work together.

As I discussed in my last blog, the worlds of Information technology (IT) and operational technology (OT) are converging—and they are converging around standards. The good news is that the industry is recognizing that a fragmented, proprietary model does not scale, and inhibits the value of IoT deployments. The IoT standardization efforts are focused on four different areas: Read More »

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The Ubiquitous Nature of the Internet of Everything (IoE) drives new Network Requirements

Taru KhuranaCo-written with Taru Khurana, Senior Analyst, SP Thought Leadership

The ubiquitous nature of Internet of Everything (IoE) is driving a digital transformation in many industries and businesses. This digital disruption has already begun and it’s driving advanced cloud access and network performance requirements for a wide range of devices and machine-to machine (M2M) connections. Faster broadband speeds and lower latencies as well as wider network access are essential enablers for the future of IoE that many envision. The growing number of cloud applications that are being developed for a wide variety of business and consumer uses are dramatically changing the demands and expectations of public and private network services.

Consider the connected car. Integrated “infotainment” is a growing feature trend that is being implemented in many types of vehicles. This type of mobile connectivity will create even more reliance on the Internet to bring Read More »

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Bringing Our “A” Game: Cisco Again Recognized as a UC&C Industry Leader by IDC

I’ve noticed that many business clichés have been invading my language. I’ve been trying to be proactive in curbing the habit. Needless to say, it’s not working. So instead of trying to cut back, at the end of the day I’ve decided to push the envelope and give 110% to using as many as possible in this post. My hope is that this moves the needle in creating my own behavioral paradigm shift. 

Has it become cliché to be the “industry leader”? As an industry, we (marketing professionals) overuse the term “industry leading” to the point where it has probably become a rubber stamp. But I think it’s acceptable when credible independent sources do in fact recognize you as an industry leader.

To that end, IDC recently did just that. IDC named Cisco as a leader in the IDC MarketScape: Worldwide Unified Communications and Collaboration 2015 Vendor Assessment — for the second time in as many iterations of that report.

It’s important to understand that this kind of analysis is a moving target based on a constantly evolving view of the market. It requires us to open the Read More »

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