PayPal’s Scott Thompson and Wells Fargo’s Mike McCoy discuss the changing POS experiences driven by new channels, in exclusive PYMNTs.com interviews
BOSTON--(BUSINESS WIRE)--In its continuing series of exclusive interviews with CEO’s from leading payments industry players, PYMNTS.com captured insights from Scott Thompson, PayPal and Mike McCoy, Wells Fargo, both predict mobile as the industry game changer. Thompson, CEO of Paypal, predicts that “mobile is going to happen in a huge way… [and that it’s] a pretty interesting paradigm change if the point of sale is actually in your hand, not in the merchant’s hand.” Mike McCoy, President of Wells Fargo Card Services agrees saying, “there will be a lot of developments in the mobile channels as well as online.”
“mobile is going to happen in a huge way… [and that it’s] a pretty interesting paradigm change if the point of sale is actually in your hand, not in the merchant’s hand.”
Editor's Note: The "paradigm shift" that Mr. McCoy speaks of, namely, placing the point of sale in the consumers hand, first happened with an eCommerce transaction.
Unfortunately, the forces that be decided to teach those "hands" to "type" instead of "swipe." Thus our credit/debit card numbers were were "handed" right over to hackers. The good news is that according to all reports, unlike a dog, you CAN teach an old hand new tricks. The great news is that there is a PCI 2.0 Certified PIN Entry Device handily available from HomeATM.
Rounding out this week’s interviews, PYMNTS.com profiled Moneris’ (processor of more than 2.5 billion credit and debit card transactions a year, for over 350,000 merchant locations) President, Greg Cohen and InstaMed’s (the industry leading healthcare payments network and platform) CEO, Bill Marvin, the full interviews can be found here:
http://pymnts.com/captains-of-the-industry-scott-thompson-on-what-s-next-with-paypal/;
http://www.pymnts.com/captains-of-the-industry-mike-mccoy-on-what-s-next-with-wells-fargo;
http://pymnts.com/moneris-president-of-u-s-business-greg-cohen-on-what-s-next/?tsc;
http://www.pymnts.com/ceo-series-bill-marvin-on-what-s-next-with-instamed
PYMNTS.com promotes the companies, products and people that drive "what's next" in payments, worldwide. PYMNTS.com is a joint venture between Berkshire Hathaway's Business Wire and Market Platform Dynamics. In the two months since its launch, PYMNTS.com has assembled a very large and highly engaged community of relevant (and senior) industry executives and opinion makers across the payments ecosystem who regularly click on its newsletter, visit the site, and spend a lot of time there. PYMNTs.com has become the "hub" for payments innovation for those whose core business is payments and for those who view payments as central to their own commerce capabilities.
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About Market Platform Dynamics (MPD):
MPD is a management consulting firm that ignites catalyst businesses by leveraging new technologies, business models and pricing strategies. MPD has a wealth of experience within industries that are characterized by complex platform-centered ecosystems, including payments, mobile/telecoms, digital and advertising-supported media, and software-based businesses.
MPD works with both incumbents and new entrants, offering a unique lens into the dynamics that shape the competitive playing field. In addition to traditional consulting-based services, MPD’s Catalyst Ventures provides intellectual and human capital to new firms. MPD’s experts include economists, econometricians, product development specialists, and strategic marketers who apply cutting-edge business theory and statistical methods to the practical problems of building and growing a profitable catalyst business. MPD is headquartered in Cambridge, MA, and has offices in London and Hong Kong.
For more information visit www.marketplatforms.com.
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