Apple Pay & Weve Fail: A Wake Up Call

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The unveiling of Apple Pay and unravelling of Weve (the UK operators’ payments venture) looked like bad news for telcos’ ambitions in mobile payments in some markets, and highlighted challenges to Google and others’ models. Yet there are already successful telco models and favourable market trends that telcos should exploit. So what are the opportunities now?


Format: PDF filePages: 28 pagesCharts: 10Author: STL research teamPublication Date: September 2014

Table of Contents

  • Introduction
  • Executive Summary
  • Mobile payments: Now is the time
  • Rewriting the Mobile Payments Playbook
  • The Apple Pay proposition
  • Will Apple Pay be a success?
  • The implications of Apple Pay for telcos
  • The Weve U-Turn
  • How Weve broke new ground
  • Weve’s shareholders break ranks
  • Weve pulls back
  • Conclusions and recommendations

Table of Figures

  • Figure 1: Forecasts for the value of mobile proximity payments in the U.S
  • Figure 2: Apple has made it easy to add payment cards to Passbook
  • Figure 3: The consumer is authenticated via the iPhone’s fingerprint scanner
  • Figure 4: You double-click a button to confirm a payment with Apple Watch
  • Figure 5: Various apps allow consumers to make payments via Apple Pay
  • Figure 6: MCX’s approach to security
  • Figure 7: Apple’s shrinking share of the global smartphone market
  • Figure 8: The Softcard wallet enables consumers to filter offers by their location
  • Figure 9: The virtuous circle Weve was aiming to create
  • Figure 10: Everything Everywhere’s Cash on Tap app is clunky to use

Technologies and industry terms referenced include: Advertising, API, big data, business models, commerce, digital commerce, Disruption, Innovation, localized commerce, location based services, marketing, mobile, new digital economics, Payments, Personal Data, SoLoMo, Strategies, Strategy, Telco, Telecom, transformation, wallets