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#Money2020 in one tweetfest feed

A follower of my twitter feed kindly aggregated all of my Money 20/20 tweets, so here's a great summary of the conference this year:



"The infrastructure for financial services will change dramatically over the next decade." Bob Greifeld, CEO Nasdaq #money2020

In Fintech if you think you can go through life without a regulatory mandate is misguided #money2020 #Nasdaq

Liquidity and tax structures are the two other use case areas Nasdaq is looking at next for Blockchain developments

The blockchain allows me to trade and trust in you without knowing you." Nasdaq CEO #money2020

Blockchain will fundamentally alter the financial structure." NASDAQ CEO Bob Greifeld #money2020

Nasdaq is a technology company and then a financial technology company… Our business has technology at its core." CEO Nasdaq #money2020

Anyone who thinks they can keep their data to themselves won't survive. You need to open it up to APIs and leverage it. #money2020

SMEs get >$100k at 9.6% p.a. as line of credit through #Alibaba and #InlandMicro, funded by @LendingClub (not term loan) #money2020

#HomeAdvisor partner with @LendingClub to offer home improvement loans (avg $12,000). Claim spend of $100m p.a. on building brand #money2020

In last 8 years, @LendingClub has enabled $11bn in funding #money2020 and now covering SMEs and consumers

Loved talking to @Chris_Skinner #money2020 about his new book #valueweb coming out soon

Banks are going to lose their customer relationship because @getMoven and others do it better @brettking #money2020

Business insider


Mobile Payment

#BusinessInsider surveyed 1500 millennials on view of banking. Q1: do you use branches? 60% do but not often #money2020

Millennials access banking on smartphone most often, but on laptop for 'doing stuff' #money2020


Half of millennials would like to stop using cash #money2020

Why do you feel more secure using a card with all your details and numbers clearly visible than an invisible mobile payment? #money2020

Biggest barrier to mobile wallet adoption is SECURITY, according to GPShopper #Money2020

Biggest barrier to mobile wallet adoption is phone battery life apparently #Money2020

Apple Pay grew to 11% of cardholders in 4 months then slowed and now 14% after 1 year #money2020

Google guy says he hires designers for UX who are collaborative and "check their ego at the door

Uber guy says don't obsess about the user. Obsess about solving the user's problems.

Fingerprint reader will be top security for mobile pay by 2030, say 52% of financial innovators surveyed at @money2020 by @CapitalOne

Amazon Payments: On Buy Buttons: "In retail, the customer has all the power. Ultimately, the customer will decide which ones merchants use

Mobile payment revenues up from $8bn 2014 to $210bn 2019


3 out of 10 smartphone users (70m Americans) will be making mobile payments at POS by 2019 (35m today) with revenues of $210bn

Cash still dominates and mobile a long way to go #money2020 emarketer


Facebook Tests A Dedicated Shopping Feed http://on.tcrn.ch/l/VHnI  #hustle411 #money2020

Chase Pay; Capital One wallet. Bank led platforms competing with ApplePay, AndroidPay, Samsung. Consumer confusion inevitable? #money2020

Chase Pay: start with the merchants, then work back

@Verifone is building a #payment platform w/ software, apps, beacons, and hardware #loyalty #retail

#Money2020 @peterstd kicks it off: #merchants need data to deliver a superior customer experience @Verifone

@cardlytics next-gen #POS provides the #payment data in real-time for merchants

With 3 in 10 #ecommerce payments happening on mobile, alternate authentication is a necessity

Future P2P payments will replace cash and it's going to need to be frictionless and anonymous sometimes

Fall in love w/ ur customer, not the idea, product or business model, then obsess w/ their problems 2 iterate #payments #prodmgmt #money2020

Requirements for mobile banking growth (http://thefinancialbrand.com/54930/mobile-digital-payment-trends-research/):

Financial Brand


NFC was Not For Commerce until Apple committed. Now For Convenience

Samsung and Android are always playing catch up as Apple iPhone7 will enhance to Apple Pay 2.0 #money2020

Well just move to PNP fraud (Phone Not Present) #money2020

Tokenisation, tokenisation, tokenisation … TOKENS will solve all of our future security issues (yea, right) #money2020

"Apple don't need a loyalty program to drive loyalty" … I guess, because their fans are blindly loyal to them anyway #money2020

Who controls the Apple Pay data? The retailer. Getting who sold what to whom for how much in real-time. #money2020

Apple Pay now moving into focus on integrating loyalty and improving convenience #money2020

We're going to see issuing bank tokenisation, and that will probably become focus for consumer as their #1 concern is security

BestBuy a founder and still committed to MCX. But if customer wants to use Apple or Samsung Pay, so be it #money2020

People forget Apple Pay usage is two areas: consumer & merchant #money2020 … no good if consumer wants to use but merchant won't accept

Mastercard has seen 109% increase in Apple Pay use since launch #money2020

Apple Pay to drive #biometrics transactions ‘to $5 bn by 2019’

#ApplePay We’ve seen a dramatic decrease in fraud in the last year @MasterCard

#ApplePay already has loyalists without a loyalty program @DBAmericas

#ApplePay It’s all about the consumer experience & making it seamless and frictionless @ShopKeep



JPMorgan Chase says it is building a rival to Apple Pay http://reut.rs/1MPtplG  via Reuters

JPMorgan Chase & Co (JPM.N) said on Monday it will soon launch its own competitor to Apple Pay that will allow consumers to pay retailers using their smartphones in stores, and it has already won the endorsement of a major group of merchants.

Chase signed up the Merchant Customer Exchange mainly by promising to cut retailers' costs, Smith said

Chase is willing to accept a lower fee for Chase Pay transactions than for other transactions, and hopes to make up the difference by getting more volume over its network, Smith said

The bank will continue working with Apple Pay and other services even as it builds a rival, Smith said.



Patrick Collison, Stripe on the stage #money2020

Future of Stripe? Most people are building 'cars' – FinTech products; we are building roads #money2020

The card brands may given poor customer experiences, but they had solved a critical issue: making a payment anywhere, anytime #money2020

Rather than thinking the incumbents were doing it wrong and we could do it better, Stripe started by working with the card brands

Stripe is working with Twitter & Pinterest so you can buy in their apps with a tap. Product is called Relay & no checkout needed

Stripe succeeded by making transaction easy and layering many services via APIs on top #money2020

Vinod Khosla talking about why he's invested in Stripe, Square, Chain and many other payment innovators

AI and machine learning are changing how we do risk analytics etc; blockchain changing how we pay; and mobile how we relate #money2020

Vinod: There's hardly any area of finance that can't be innovated, renewed, disrupted or changed today #money2020



The Internet, born in 1969, was ugly, chaotic, promising in 1995. Bitcoin, blockchain, and distributed ledgers feel similar today #money2020

Xapo predict bitcoin will be BIGGER than PayPal by 2020 #money2020

The key 'use case' for the blockchain is to make bitcoin work as a currency

bitcoin will put pressure on bank margins, especially for X-border payments, as it's basically a cheaper faster payments system

Xapo working on a bitcoin debit card. Challenge is how to process tx in seconds

Xapo see bitcoin debit card success in volatile economies (Argentina, Brazil, Russia, etc) #money2020

The problem is that legislators are trying to fit cryptocurrency regulations into the same box as money transmission regulation #money2020

There have been 22 applications for the bitlicence in NYC and usually accompanied with app for a money transmission license too #money2020


To summarize #blockchain investments

 @AmericanExpress -> @AbraGlobal

@Visa -> @chain

@Mastercard -> @DCGco



"Money 2020: Visa integrates token technology into Visa Checkout"

 ‏@VisaNews Oct 26 Paying w/ a swipe of the hand. Try it out @ our Innovation Lounge. Atrium, second level #money2020 @Safran_Morpho

Closed networks will eventually open up. It's like gravity." – Jim McCarthy #money2020

"The next major wave of change coming is push payments" – Jim McCarthy #money2020

The best experiences in the digital world are the ones that are converged…" – Jim McCarthy #money2020



Safe secure payments-consumer concern! statement basis #MasterCard survey

Forget your password: Pay bills with a selfie #biometrics #money2020 #MasterCard #payments

MasterCard showed off its Identity Check — aka "Selfie Pay" app — that lets users verify their identity with their bank by snapping a selfie, saying a phrase or using a fingerprint. The company piloted the software with Mountain View, California-based First Tech Credit Union and Dutch bank ABN Amro in August — and plans to license it to U.S. customers by mid-2016 and internationally by 2017

MasterCard wants to bring Apple Pay tech to more wearables

Identity is the new money #Money2020 #LetsConnect

Bob Reany shares that 85% of consumers #MasterCard surveyed embrace #biometric tech #Money2020 #LetsConnect

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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