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- Bank of Santa Clarita Reports Record Pre-Tax Earnings
- Northern Star Financial, Inc. Announces Agreement with Corporate Merchant Services, Inc.
- Global High Income Fund Inc. – Fund Commentary
- Washington Trust Announces “I Luv RI” Photo Contest Winner
- Health Providers Across 40 Hospitals and 3,000 Physicians Join doxo
PYMNTS Voice
Commentary » PYMNTS Voice
PayPal X’s Global Payments Development Platform
When it comes to using invisible engines to drive innovation and transform industries, PayPal is the first out of the gate in the payments industry and well ahead of the traditional players. This online payments giant claims that “PayPal X is the first and only global payments platform open to third-party developers. Our new set of APIs will offer unlimited possibilities for [developers] to easily monetize your ideas, by providing security and connectivity to the world’s financial systems.” This isn’t the usual hype—whizbangthing.ppt—that we get from payments providers trying to stake a claim. Six months after announcing its open platform more than 25,000 applications have been written to it and a vibrant developer community is are cranking out more apps as you read this.
Can IP Commerce Create the Apps Store for Payments?
There’s no Steve Jobs strutting on the stage, massive consumer buzz, or slick television ads about how there’s an app just for you. But there are some things you’ve probably heard about and a soon-to-be known Denver based company, IPCommerce, is the invisible engine that’s powering them.
Why the Payments Industry Needs a Catalyst to Drive Payments Innovation
I’ve explored how invisible engines drive innovation and transform industries. I’m now going to explain how they will do that in the payments industry. This entry explains why the payments industry needs a catalyst to ignite innovation.
What’s in the Cloud for Payments?
When we speak of “payments in the cloud” we are using the term in a broader sense than it is usually used in the information technology world.
How the iPhone Invisible Engine Provided a Catalyst for the Mobile Phone Industry
The iPhone provides a potent illustration of the invisible engines/catalyst business model. By the end of 2009 there were more than 100,000 applications available for the iPhone. These applications have been downloaded more than 3 billion times since Apple opened its iPhone store in July 2008. Apple's success has shaken up the mobile phone industry in many countries around the world. It has unleashed tens of thousands of entrepreneurs and created a multi-billion dollar application industry for mobile devices. Here is how an invisible engine helped make this.
The Invisible Engines that Drive Innovation and Transform Industries
The use of software platforms to drive innovation and transform industries has exploded since the 2006 publication of my book Invisible Engines with MIT Professor and former Sloan School Dean Richard Schmalensee and Harvard Business School Professor Andrei Hagiu. Around the globe, invisible engines are ushering in a new era of technological change based on software. The Apple iPhone has shaken the mobile phone industry worldwide in part by creating a massive applications business built on the phone's operating system. Firefox has revolutionized the browser industry by encouraging developers to write add-ons and in doing so toppled Microsoft's Internet Explorer from dominance in many countries. Facebook has created a powerful social networking platform by opening itself up to developers. Amazon has started cloud-computing platform that enables entrepreneurs to access its vast software code, hardware and global communication systems over the Internet.
AmEx and Revolution Money - What a Difference a Day Makes
Just two days ago, I posted a question on LinkedIn about the one innovation in 2009 that had the potential to change the landscape for the next 2-3 years.
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- Health Providers Across 40 Hospitals and 3,000 Physicians Join doxo Feb 03, 2012
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2012 ach acquisition ad-supported advertising africa akerlof alternative payment alternative payments amazon amazon fps amazon price check american express amex android api apis apple application applications at&t atm authentication automated clearing house b2b b2bsynergy banking bank of america barclays behavioral economics big bank excuse billmelater bing blackberry bling nation bloomberg bob dole braintree brian burnseed business business model business week business wire c$ cmoney capgemini capital markets summit card act cardholders card issuer card issuers card issuing card network card networks card reform cards carte blanche cartes & identification 2010 cash cass sunstein catalyst code catalysts cfpa cfpa act chase check card checks chicken-and-egg china china union pay cisco citi cloud computing code commerce compliance congress consolidation consumer consumer financial protection agency consumer financial protection board consumer loyalty consumer payments research center consumers contactless contactless cards contactless payments corduro credit credit card credit card networks credit cards ctia cup cybersource daily deals dan ariely daniel read data center david evans david s. evans debit debit card debit cards debt decoupled developer developers development device fidelity dick schmalensee digital media diners club discover disruptive disruptive technology dodd droid durbin durbin amendment e-commerce e-payment e-wallets ebay ebillme ecommerce economics economists economy eft electronic commerce electronic payments element payment services elizabeth warren emv encryption epayment epayments evans facebok facebook facebook commerce farmville federal reserve fees financial financial reform finovate firefox foreign networks frank frank parry futures g-cash gaming gao general accountability office gift google google checkout google wallet gopayment greatest developments groupon guest payments hagiu healthcare holiday hyperbolic discounting ibm icbc ignition ignition series ignition strategy innovation interchange international telecommunications union internet internet-based intuit invisible engines ipad ip commerce ipcommerce iphone iphones ipo isis issuer jack dorsey jason diaz jcb international jibun bank john donohue joshua wright journal jp morgan justin fox karen webster kathy miller kenya law lending linkedin livingsocial loyalty m-commerce m-pesa magnetic strip mag stripe magtek making credit safer manhattan mara airolki margaret weichert market platform dynamics mastercard mastercard in-control mcommerce merchant merchants merger meters microsoft mit mobile mobile apps mobile banking mobile money mobile payments money transfer more than money motorola mpayments mtn myspace national payment card near field communications network networks new businesses new business models newspaper publishing newspapers new york city new york times nfc nilson non-cash obama obopay oliver williamson online online banking open platforms other p2p paas patrick gauthier payment payment card payment cards payment engine payment networks payments payments innovation paypal paypalx paypal x payroll paysimple payvment payware pci pci ssc peter guidi philippines pin platform platforms point of sale points policy pos prepaid processing psychology pts publishing pymnts pymnts.com quattro reform regulation related publications retail revolution money rewards richard thaler roam data ronald coase saas safaricom schiller schmalensee screening rules sdk search security senator durbin serve shane frederick shopping small business smart-phones smartphone smartphones social social commerce social network social networks software square standards start-up startup startup strategy steve jobs stocks strategy survey of consumer payment choice swipe fee tablet target taxi taxipass taztag techcrunch technology tempo the payments authority tim attinger traffic transaction costs transactions tsys twitter two-sided market two-sided platforms u.s. bank u.s. chamber of commerce user behavior validation verifone verizon virtual currency visa vivotech vodafone wall street wamu warren buffett washinton web 2.0 wells fargo wespay western union windows wright wsj x.commerce yahoo yes bank youtube zoompass zynga
