So, at the end of a very long third day of SIBOS, I attended the final session on mobile payments which began with Laurent Desmangles of the Boston Consulting Group (BCG) presenting some slides on their view of how the mobile space is developing.
Laurent quite rightly made the assertion that cards would still be around in five years or so, as only 87% of merchants will have NFC terminals by 2020. That sounds like a lot but, in the USofA, that is the same number as Discover cardholders, and Discover cardholders keep Visa and MasterCard in their pockets and purses as 87% is not good enough. You need 99.9%
Laurent’s opening led into the full panel debate which included:
- Kelly Bayer Rosmarin, Business Product and Development, Commonwealth Bank of Australia
- Dan Schatt, GM Financial Innovations, PayPal
- Dr Kiyoyuki Tsujimura, President and CEO, DOCOMO Engineering Inc
and chaired by some chap from the Asian Banker, called Emmanuel Daniel.