Payment Developments Destined for the Graveyard

We have given all of you trick-or-treaters time to pack away the Batman and Lady Gaga costumes (at least until next year) and settle back into the payments world. We wanted resurrect the Halloween spirit and give you some comments from around the industry for our latest Ask the Industry question:

What’s the spookiest payments innovation in the past year? What development is definitely destined for the graveyard?

“The concept of dynamic cards which can let the user choose different credit card accounts or debit card. I think that’s all going to be jumped by the next incarnation of payment mechanisms even at retail such as a mobile payment/wallet.” David Lo

“I think the solid leg that dynamic cards have going for them (and what they are betting on) is the existing POS infrastructure. To make a mobile payment work in a face-to-face environment you need to give the merchant a way to accept it. Replacing the swipe machines with something else is a huge investment (especially in the US). Not sure what the pay-off would be for acquirers to get rid of all of them in place of something else..” Michael O’Connor

“MagStripes in the next 5 years (mostly gone)

Aggregation of international micro payments – people will do it themselves (mobile etc) that being said, transaction gateways will always be there

Gift card malls sending plastic – will be electronic to mobile or to a single card (wallet) with multi purse functionality” Duane Tough

“Cash…” Serafin Garcia

“Cash as we define gov’t backed currencies (maybe). Currencies (cash) that is a P2P commonality – Never.” Duane Tough


Ask the Industry


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