News & Views: June 2019
The driving force behind Navigate is to give you, our clients, valuable insights into the dynamic markets we operate in. We trust that Navigate does that but we are also aware that we don’t have a monopoly on good insight. As such, Visa provides Navigate users with regular updates on the interesting things we are reading, watching and listening to.
Our intention is to share content you might have missed missed from a range of different sources, from highly respected titles to gems from less obvious sources Visa experts value.
Libra
Wired: Facebook's Libra coin cryptocurrency, explained
Wired provides an in-depth exploration of what Libra is and Facebook’s aspirations for the new cryptocurrency coin. The author details how Facebook hopes to appeal to the nearly 2 billion adults without access to a traditional bank; how it is approaching questions around data sharing, and how this is a move meant to encourage trust in the payment system from financial regulators and users.
The Economist: Facebook wants to create a worldwide digital currency
Here, The Economist analyses Facebook’s ambitions to drive consumer empowerment and foster a new age of innovation with Libra. Consortium dynamics, political, regulatory and consumer adoption challenges, as well as the perennial question of who holds the power and profit, are detailed in this insightful piece.
TechCrunch: What money should be
In light of Facebook’s plans to launch Libra, TechCrunch’s Nik Milanovic takes a step back to offer a perspective on how money, more broadly, works today and how it should work. Also included are some thought-provoking ideas that broaden current thinking.
Digital identity
PaymentsSource: Apple's new login is a small, yet powerful step toward digital ID
David Heun of PaymentsSource examines the potential market impact of Apple’s latest tokenisation concept and move into privacy controls, ‘Sign in with Apple’. While plans for how the service will take shape in the future are not yet known, the writer nonetheless described it as a ‘bold’ step that could position Apple as a ‘trusted steward of identity’.
Fortune: What’s next in Blockchain? Ask this teenage engineer
Fortune sits down with a young brain-computer interface developer who is challenging people to rethink the possibilities of blockchain and how it can be used to establish a digital identity. The 17-year-old explains how this can be established through a combination of data points and biometrics to challenge identity theft issues or copywriting attribution.
Mobile Payments Today: The role of mobile smartphones in identity verification
Meeting consumer expectations for quick, frictionless mobile payments, while ensuring enough barriers are in place to deter fraudsters, has never been more vital. IDology’s Christina Luttrell calls for businesses to create a ‘persistent mobile identifier’ – an identity that remains consistent throughout mobile change events, such as when a consumer switches to a different carrier, without the need for passwords.
Emerging ways to pay
PaymentsSource: 5 trends driving growth of digital wallets
The entry of more digital wallet offerings to market has ushered in a new era of industry support. PaymentsSource summarises a wide range of reports that explore why digital wallet adoption is primed for take-off, the most important factors during its use, and key consumer behaviours.
CNBC: ‘A new era in commerce’: Amazon Pay VP says voice payments potential is ‘phenomenal’
Is voice-based shopping the future of retail? Speaking to CNBC’s Elizabeth Schulze at Money 20/20, Amazon Pay VP Patrick Gauthier explains that while consumers still have some way to go before becoming comfortable with it as a payments method, voice will represent a “new era in commerce”. Gauthier likened its potential impact to the immense changes brought about by e-commerce and mobile in the last 20 years.
Financial Times: Battle intensifies to unlock value in the ‘internet of things’
The Financial Times argues that IoT has set a new strategic agenda for businesses and is increasingly linked to brand value. Featuring comments by industry experts and Vodafone’s chief executive Nick Read, this piece presents a compelling case for why brands should take IoT seriously.
And one from the Archives...
Every time we produce a ‘News & Views’ we will also point you towards a piece of content that isn’t brand new, but that we have found extremely interesting and that supplements the content from Navigate.
Financial Times Special Report: Financial Inclusion – Middle East and Africa
In April, the Financial Times explored how technology is driving seismic change in these historically underbanked regions. The report’s features include an interview with the World Bank on expanding financial services; how cash culture reigns in North Africa; fintech and financial inclusion in Iraq, and the mobile money landscape in Kenya.
For further insights, read more of our News & Views content here.
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