I read with great interest your recent article titled "Disrupting the disruptors in payments and banking" [by Patti Murphy, The Green Sheet May 23, 2016, issue 16:05:02, www.greensheet.com/emagazine.php?issue_number=160502].
Many of the themes you addressed tied closely to those covered in an op-ed by Jon Ungerland called "Disrupt the disruptors to strengthen your community" [Credit Union Times, www.cutimes.com/2016/05/08/disrupt-the-disruptors-to-strengthen-your-communit?slreturn=1465834982]. Jon is the CEO of DaLand Solutions, a client of mine.
I mention all of this because I'd like to bring to your attention a mobile transaction platform developed by DaLand called Secure Transaction Image, or STI. It's a visual token-based platform similar in general concept to QR code-based systems, but based on proprietary, patent-pending technology. This makes it more secure and more flexible. It was intentionally designed to provide many of the benefits of blockchain without the obvious drawbacks.
Instead of limiting STI to simple money movement, DaLand stepped back and redefined the digital transaction more like a human being might define a transaction. The end result is a platform that can support a virtually unlimited number of transaction scenarios.
STI-based products that have already launched or are near launch include:
The company is also looking at various lending scenarios, such as using an STI token as a loan preapproval or using the platform to generate digital loan payment coupons. In the latter case, the borrower would only need to capture the token to transact the entire loan payment.
John San Filippo, www.johnsanfilippo.com
Today, June 13, 2016, Apple is expected to open its Worldwide Developer Conference with a focus on software and services, such as Apple Pay. The small mobile payments service has been growing slowly; but, if Apple announces the addition of a money transfer feature similar to PayPal’s Venmo app, the adoption of Apple Pay could see a significant increase.
In the past year a third of consumers overall have reported using a peer-to-peer payment (P2P) app, with 44 percent of those consumers falling between the ages of 18 to 25 and 38 percent between 26 to 35. As part of the Walker Sands' 2016 Future of Retail Study, these findings suggest that, despite mobile payments ranking low as the preferred payment method for different kinds of purchases, P2P payment applications may be more quickly adopted than point-of-sale mobile transactions.
The Walker Sands' 2016 Future of Retail Study also found:
Readers interested in downloading the report can do so at www.walkersands.com/Futureofretail.
Erin Jordan, Walker Sands Communications
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