I wonder – what will connect tomorrow? What is going to connect next?
Thinking about the countless ways that different people, process, data and things will connect over upcoming years on the Internet of Everything can be almost overwhelming. As I mentioned in my last blog post, not a moment goes by in the day when I am not thinking of how different objects can work together to improve our world. Some of those connections are realistic; others are more visionary, difficult to grasp outside the context of IoE.
Cisco is already telling the story of these connections. You can explore the potentialities of the future for yourself throughConnect This With That, an interactive experience that demonstrates the “how” behind the connections of today and tomorrow. On IoE, it’s possible for any two seemingly unconnected items to work together, creating a new reality for our world’s inhabitants. Imagine, as you pull in for a football game, the stadium automatically sends information to your car about where the best parking is located. As you enter the game, your wallet then talks to the admissions booth, so no tickets are required. What else is possible? For example, what are the technologies and products, current and future, that make it possible for an air quality index to talk to a school desk? Can a health organization connect with your bike, measuring average exercise patterns?
Banks, for the most part, have realized the importance of mobile as a channel. Across the globe, empowered executives are being appointed to head up digital channel programs. Their primary mission: define and implement the mobile banking channel and seamlessly integrate it with the other major digital channels—online banking.
For the most part, they have focused their strategies on ”forklifting” online banking features to mobile without worrying much about mobile payments. However, the new reality of channel migration is a bit more complicated: the merger of virtual and digital channels in this new age of ”omnichannel banking” is bringing digital channels into bank branches, customer homes, and places of business, and transforming the world of payments and commerce.
So, how is the omnichannel reality affecting the world of payments, and why should banks care (aside from the fact that payments-related revenues can account for up to 25 percent of total retail banking revenues)?
Most of us are familiar with mobile apps that allow us, when in a retail store, to scan a product bar code, access online reviews, and potentially buy the product from Amazon.com (or a nearby retailer) at a discounted price. This capability is the new reality (and challenge) of omnichannel in the retail world. Such changes, however, will not end here: imagine receiving offers, digital coupons, credit card loyalty points, and more on your cell phone so that you can seamlessly apply them to your purchases when paying with your mobile device upon checkout (at the physical store or online).
The promise of connecting mobile payments and commerce through new capabilities embedded in the mobile wallet is real, and several mobile-wallet providers have emerged, including a number of non-financial-services players (telcos, tech companies, retailers, and others). Read More »
Recently I took a weekend trip to Sea Ranch, California, a coastal town 2.5 hours drive north of San Francisco. What was interesting (besides the great view and interesting architecture) was for three days there I had no cellular coverage on my mobile phone, but I was able to get access to the internet using Wi Fi in various locations. Being the classic connected and mobile consumer, my trip would have been much less enjoyable without some form of wireless connectivity
Cisco IBSG Retail Director Edward Westenberg recently published a paper on the impact of consumer mobility and what retailers should do to respond to the trend.
Peggy Casey, Cisco retail industry manager sat down with Edward to discuss his latest research and four areas of mobility that retailers should address:
Having attended the annual North American PCI Community Meeting for many years and being involved with PCI compliance since 2008, I’ve heard firsthand the challenges merchants face in their quest for PCI compliance (see Blog: Compliance Headaches Continue). However, thinking back to the PCI Community Meeting last week in Orlando, I was intrigued by how this year’s keynote speaker fit into the program. How could an extreme adventurer, such as Jamie Clarke, rather than a hacker or data breach expert provide the necessary perspective on compliance? As I attended sessions and networked with over a thousand of my peers from 17 countries, it dawned on me: The collective PCI state of mind is reflective of the maturity of the journey and a fresh optimism emerges as we near the top of the mountain after a very long and arduous journey.
Here are some of the highlights from this year’s meeting.
PCI SSC General Manager Bob Russo presented the annual PCI State of the Industry. The PCI standards continue to mature and merchants are increasing the focus to protect cardholder data. The overall tone was more about ‘tweak’ than change.
The opportunity for training from the PCI Council continues to increase with several new programs including a Qualified Integrators and Resellers (QIR) program and a Payment Card Industry Professional (PCIP) certification.
The Special Interest Groups (SIGs) are going strong, which again speaks to the maturity of the standard. We are seeing ongoing clarity, rather than new initiatives. The SIGs leverage valuable business and technical experiences from PCI Participating Organizations (POs). Over 460 POs were in attendance. Our key candidates for the 2013 SIGs are Cardholder Data Discovery and Guidance on Logging. However, there are 7 candidates up for voting.
Spider Labs presented an overview of mobile device security and reviewed several mobile attack scenarios. The PCI Council has released new guidance on secure mobile payment acceptance.
Updates to the Council’s Point-to-Point Encryption (P2PE) program are available.
Feedback on the PCI standards was discussed in preparation for the next releases in 2013.
It’s no secret that people are forming personal attachments to their iPhones, Android phones, and other “smartphone” devices.
In fact, in a recent Pew Research Center study, respondents used adjectives such as “awesome,” “great,” “essential,” “indispensable,” “good,” and “excellent” to describe how they feel about their treasured mobile devices.
This love affair is driving skyrocketing sales of smartphones: by 2015, eMarketer estimates that 58 percent of all mobile users in the United States (149 million people) will own smartphones, while in the European Union, more than 50 percent will own them by 2014. Read More »
Most of us are familiar with mobile apps that allow us, when in a retail store, to scan a product bar code, access online reviews, and potentially buy the product from Amazon.com (or a nearby retailer) at a discounted price. This capability is the new reality (and challenge) of omnichannel in the retail world. Such changes, however, will not end here: imagine receiving offers, digital coupons, credit card loyalty points, and more on your cell phone so that you can seamlessly apply them to your purchases when paying with your mobile device upon checkout (at the physical store or online).
