Innovative Payments Startups, 2012 Edition

Reporting from FinovateEurope 2012
by Zilvinas Bareisis, April 12, 2012
Product Trends/ Reviews
Global, Asia-Pacific, EMEA, Latin America, North America

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 (Boston)
Erica Ferguson
eferguson@celent.com
Tel.: +1 617 262 8225

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

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