Monday, 15 May 2017

RBTE 2017: Sainsbury’s throws down gauntlet to mobile payments industry - Essential Retail

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"Adam Bialy, head of payment technology at Sainsbury’s, revealed at an RBTE 2017 panel discussion that retailers currently see mobile payment vendors as a ‘threat’.

The retailers’ perspective is that many people have joined the payments industry just because they want a piece of the data,’ said Bialy."

RBTE 2017: Sainsbury’s throws down gauntlet to mobile payments industry - Essential Retail

This is a very interesting perspective. As I mentioned in an online discussion about this the other day, it isn’t the loss of transaction fees that bothers the incumbents (because they all have ideas for value-added services that will replace the missing income) but the loss of data (because without the data they can’t make any value-added services). These are real fears.

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