Innovative Payments Startups, 2012 Edition
Abstract
A number of payments-related offerings demonstrated at FinovateEurope 2012 may represent interesting partnership opportunities for banks.
Celent analysts regularly attend Finovate events, which showcase the latest and most interesting financial services technology startups as well as new offerings from the established firms. In a new report, Innovative Payments Startups, 2012 Edition, Celent provides an overview of Finovate’s second European event and examines nine payments companies and their offerings: Cardlytics, CurrencyFair, Dynamics, Fiserv, Handpoint, Ixaris, LiqPAY.com, PayPal, and Serverside Group.
Compared to last year’s event, payment solutions presented at FinovateEurope 2012 are:
- More incremental and pragmatic rather than disruptive.
- More targeted at financial institutions.
- More card-oriented.
“Launching a truly new and innovative payment solution is very difficult, and working with banks rather than against them often makes sense,” says Zilvinas Bareisis, Senior Analyst with Celent’s Banking group and author of the report. “Also, the innovators’ ongoing focus on cards confirms our view that cards will continue to be an important payment instrument, and that even plastic will survive as a form factor for many years to come.”
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].
Media Contacts
North America (New York)
Dana Greenstein
dgreenstein@celent.com
Tel.: +1 646 364 8254
Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875
Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023
Table of Contents
Executive Summary | 3 | |
Introduction | 5 | |
Overview of Major Financial Services Innovation Themes | 6 | |
Payments: More Variety and Focus on Serving Banks | 9 | |
| Payments Offering: An Overview | 9 |
| Evaluation Framework | 10 |
Assessment of Payments Offerings | 13 | |
| Cardlytics | 13 |
| CurrencyFair | 15 |
| Dynamics | 17 |
| Fiserv | 20 |
| Handpoint | 23 |
| Ixaris | 26 |
| LiqPAY.com | 29 |
| PayPal (Account Opening via La Caixa) | 32 |
| Serverside Group | 35 |
Conclusion | 38 | |
Leveraging Celent’s Expertise | 40 | |
| Support for Financial Institutions | 40 |
| Support for Vendors | 40 |
Related Celent Research | 42 | |