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Payments & procurement: mobile, intelligent procurement + subscription economy

All sorts of companies in the payment systems business are getting together, new structures are opening opportunities, and developments continue apace. Important recent developments include:

  • New mobile payment platform: Google I/O the tech giant announced that they will partner Android Pay and PayPal for a mobile payments platform which could be far bigger than ApplePay given the far greater numbers of Android phones
  • SAP Ariba and IBM join forces to transform procurement with SAP Leonardo and Watson (computer) to make procurement smarter with cognitive procurement solutions that redefine the source-to-settle process.  The companies will launch a Cognitive Procurement hub to further the development of intelligent procurement solutions and services
  • Spend management company Coupa have announced the launch of Coupa Payments which uses their partnership with invoice payments company Nvoicepay
  • Visa partners with B2B virtual payments company CSI globalVCard to extend its services to Visa issuers enabling them to link their own corporate customers to the combined accounts payable offerings of both Visa and CSI globalVCard. The tools will support reconciliation, instant card issuance through CSI globalVCard’s mobile app, spend control and other AP technologies.
  • Dutch banks join forces to launch all-in-one mobile payments app Payconiq
  • Danish banking collective launches nationwide mobile payments Boki
  • Apple rumoured to be in talks to launch Venmo alternative – Apple iCash?
  • Adyen showed how survive the Subscription Economy by:
    • understand how payments can increase the lifetime value of the customer: 
      • Source & Copyright©2017 - Adyen 
    • Maximising the signup process
      • Offer local and prepaid payment methods
      • Combat card testing and reseller fraud
    • Increasing customer retention
      • Delivering uninterrupted service
      • Take data driven approach to retries
      • Fine-tune your billing intervals.

CTMfile take: Understanding and managing the - steady increase in the number of local mobile payments, development of cognitive procurement and exploiting move to Subscription Economy - will be critical to company’s survival over the next decade.

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This item appears in the following sections:
Payments - Receipts
Accounts Receivable Management
Direct Debit Bill Payments
International Bill Payments
Collecting Payments on the Internet
Collecting Payments via Mobile

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