E2 Poll Wrap-Up: New Payments in Your Plans

Curtis Franklin Jr., Executive Editor | 2/5/2013 | 18 comments

Curtis Franklin Jr.
For centuries, business has built its attitude about payment on the wisdom of Pink Floyd:

    Money, it's a gas
    Grab that cash with both hands
    And make a stash
-- "Money," Roger Waters, 1995

Now, however, companies worldwide are looking to make it safer and easier for customers to pay for goods and services. The race to ease started with personal checks and bank drafts, and today we're seeing a veritable explosion in new ways of transferring value from one entity to another. The question for many companies is which of those new ways they're going to accept.

That's the precise question we asked our readers in the most recent Enterprise Efficiency poll, New Payments in Your Plans. The answers indicate that there are new payment options coming for a number of companies and their customers -- and the payment options aren't necessarily what the largest banks are promoting.

The two most popular options planned for new acceptance bypass many of the trappings of traditional financial services organizations entirely. PayPal was the most common response in the survey, with over 43 percent of those answering indicating it's in their company's plans, with Square-based or smartphone payments just behind, with 42 percent. It's hard to know whether this indicates an unhappiness of merchants with the fees charged by financial organizations for process credit cards or a rise in the number of "un-banked" consumers who want to use something other than cash for their retail transactions.

In the comments to the poll, there were hints regarding the surprisingly small number who indicated that chip-and-PIN cards were on their enterprise "to-do" list. E2 blogger Joe Stanganelli pointed out that, "...contrary to popular belief, EMV is *not* inherently more secure than standard magnetic stripe cards..." That was echoed by E2 community member batye, who pointed out that based on his training and experience, "...EMV offer new ways to exploit... by hackers/skimmers..."

There's also a question about whether some of the lower-ranking responses are already in broad acceptance by most companies. (Hello, cash, at 32 percent.) Regardless of specific reasons, though, it's obvious that the options for payment are increasing -- and both merchants and consumers will benefit. Let us know which of these options you think will bring the most opportunity -- and which, from a consumer perspective, you're looking forward to using (or are planning to keep far, far from your wallet.)

Which of the following are you likely to begin accepting as payment in the next 12 months? (Choose all that apply.)

Chip-and-pin credit card 20.29%
Mobile wallet 33.33%
PayPal 43.48%
Square/smartphone payment 42.03%
Traditional credit card 30.43%
Cash 31.88%
I don't know 11.59%
View Comments: Newest First | Oldest First | Threaded View
Page 1 / 2   >   >>
Susan Nunziata   E2 Poll Wrap Up: New Payments in Your Plans   2/12/2013 11:11:55 PM
Re: Interesting
@Curt: Soon the kids down the block will need to start using it to sell their lemonade. I was mortified the other day when I passed them while walking my dogs. I have become so much a non-cash person I didn't even have 50 cents on me to buy a lemonade from them! 

 
CurtisFranklin   E2 Poll Wrap Up: New Payments in Your Plans   2/11/2013 11:58:12 PM
Re: Interesting
@Sara, you're absolutely right -- the things aren't made of titanium. At a maximum price of $10, though, I'd suggest buying a spare to keep around just in case things go south at an inopportune time.
CurtisFranklin   E2 Poll Wrap Up: New Payments in Your Plans   2/11/2013 11:55:46 PM
Re: Interesting
@Sara, I think that retailers are getting fantastic value for the money. Compared to the cost of leasing a traditional credit card POS device and maintaining a merchant account, the Square (or its direct competitors) are a true bargain until you're doing many thousands of dollars worth of transactions each month.

For Carol and other artists I know, it's perfect. And I think that the combination of Square and the locavore movement will absolutely revolutionize farmer's markets.
CurtisFranklin   E2 Poll Wrap Up: New Payments in Your Plans   2/11/2013 11:35:02 PM
Re: Interesting
@Susan, for me the most interesting thing about Square is the question of just how large an organization will embrace them. It's been obvious that sole proprietors would use the little devices, but we are seeing alrger companies (like your cab examples) and larger service companies equipping drivers with Squares for their smart phones.

How long will it be before individuals really are whipping out the Square so they can take their friend's credit cards to pay them back for gas, chips, or that lunch for which money was borrowed and cash never seems to be found?
Sara Peters   E2 Poll Wrap Up: New Payments in Your Plans   2/11/2013 5:56:40 PM
Re: Interesting
I love Square! My only complaint is that I've found that the device isn't quite as hardy as I'd like it to be.... I was recently working at a very busy merch table at a theater. We accepted payments with Square, but it only worked about half the time -- the rest of the time, instead of swiping, we had to hand-type the card information into the phone. It was quite annoying.
Sara Peters   E2 Poll Wrap Up: New Payments in Your Plans   2/11/2013 5:52:41 PM
Re: Interesting
@Curt  Great point:  "I think the real reasons banks like these are that they aren't regulated as credit cards, so there's more latitude in the fee structure."  I don't think that's cynicism. I think it's true. Do you think that retailers are getting ripped off, though? Or do you think that the service is worth the money?
Salik   E2 Poll Wrap Up: New Payments in Your Plans   2/8/2013 1:01:10 AM
Re: Interesting
I agree to that constraint for the government, but it is adversely effecting the Free Lance business in the country. Many people won't get the access to the Paypal money extraction process, for people who know how to, the government wont let them
Susan Nunziata   E2 Poll Wrap Up: New Payments in Your Plans   2/7/2013 6:59:28 PM
Re: Interesting
@Curt: Square has also been a boon to private taxi companies. I also am impressed at how the service provider is maximizing the customer experience. I have used Square to pay at small businesses in the SF Bay Area. On a recent trip to Austin, when I used my credit card to pay for a cab ride, the driver used Square to process the payment on his smartphone. When he ran my card thru the reader, my email address popped up automatically and I was able to have the receipt easily emailed to me. Quite impressive, and a little scary at the same time.
CurtisFranklin   E2 Poll Wrap Up: New Payments in Your Plans   2/7/2013 6:01:34 PM
Re: Interesting
@CMTucker, I think it's fascinating to see the extent to which Square and similar devices are changing the way business is done at farmer's markets and art fairs. I can't imagine having a booth without having Square -- and it helps when it comes to splitting up big checks at restaurants when everyone has plastic, too! Just put the bill on one card, then everyone pays that person back through Square -- it could he the end of dinner party arguments!
CurtisFranklin   E2 Poll Wrap Up: New Payments in Your Plans   2/7/2013 5:58:35 PM
Re: Interesting
@Joe, the banks are pushing the technology as a security upgrade, though we've heard in comments to oth posts that the security angle is over-rated. I think the real reasons banks like these are that they aren't regulated as credit cards, so there's more latitude in the fee structure. Of course, that could just be my cynicism coming through...
Page 1 / 2   >   >>


The blogs and comments posted on EnterpriseEfficiency.com do not reflect the views of TechWeb, EnterpriseEfficiency.com, or its sponsors. EnterpriseEfficiency.com, TechWeb, and its sponsors do not assume responsibility for any comments, claims, or opinions made by authors and bloggers. They are no substitute for your own research and should not be relied upon for trading or any other purpose.

More Blogs from Curtis Franklin Jr.
Curtis Franklin Jr.   5/30/2014   10 comments
A good community can teach you a lot. And Enterprise Efficiency has been one of the best.
Curtis Franklin Jr.   5/26/2014   41 comments
Today is Memorial Day in the US, a day for remembering those who gave, in the words of Abraham Lincoln, "the last full measure of devotion" for their country and its citizens. It is a ...
Curtis Franklin Jr.   5/22/2014   35 comments
You're about to know precisely where your customers are and what they're doing. Are you ready for Big Data Advertising Everywhere?
Curtis Franklin Jr.   5/6/2014   19 comments
PHP is a great tool for building web pages that access databases. It's pretty nifty for pwning an enterprise site, too.
Curtis Franklin Jr.   4/30/2014   36 comments
BASIC turns 50 this year. Many IT pros wrote their first line of code in the venerable language, but is the ability to write code even important at the top of the IT ladder?
Latest Archived Broadcast
We talk with Bernard Golden about accelerating application delivery in the cloud.
On-demand Video with Chat
Register for this video discussion to learn how tablets can provide true business usability and productivity.
E2 IT Migration Zones
IT Migration Zone - UK
Why PowerShell Is Important
Reduce the Windows 8 Footprint for VDI
Rethinking Storage Management
IT Migration Zone - FR
SQL Server : 240 To de mémoire flash pour votre data warehouse
Quand Office vient booster les revenus Cloud et Android de Microsoft
Windows Phone : Nokia veut davantage d'applications (et les utilisateurs aussi)
IT Migration Zone - DE
Cloud Computing: Warum Unternehmen trotz NSA auf die „private“ Wolke setzen sollten
Cloud Computing bleibt Wachstumsmarkt – Windows Azure ist Vorreiter
Like Us on Facebook
Twitter Feed
Enterprise Efficiency Twitter Feed
Site Moderators Wanted
Enterprise Efficiency is looking for engaged readers to moderate the message boards on this site. Engage in high-IQ conversations with IT industry leaders; earn kudos and perks. Interested? E-mail:
moderators@enterpriseefficiency.com
Dell's Efficiency Modeling Tool
The major problem facing the CIO is how to measure the effectiveness of the IT department. Learn how Dell’s Efficiency Modeling Tool gives the CIO two clear, powerful numbers: Efficiency Quotient and Impact Quotient. These numbers can be transforma¬tive not only to the department, but to the entire enterprise.

Read the full report
The State of Enterprise Efficiency in the Virtual Era: Virtualization – Smart Approaches to Maximize Gains
Virtualization is a presence in nearly all enterprise data centers. But not all companies are using it to its best effect. Learn the common characteristics of success, what barriers companies face, and how to get the most from your efforts.

Read the full report
Informed CIO: Dollars & Sense: Virtual Desktop Infrastructure
Cut through the VDI hype and get the full picture -- including ROI and the impact on your Data Center -- to make an informed decision about your virtual desktop infrastructure deployments.

Read the full report
SPONSORED BY DELL
CASE STUDIES
EBOOKS
PUBLIC SECTOR RESOURCES
VIDEOS
WHITE PAPERS
WINDOWS SERVER 2012 RESOURCES
A Video Case Study – Translational Genomics Research Institute
e2 Video


On the Case
TGen IT: Where We're Going Next

7|11|12   |   08:12   |   10 comments


Now that TGen has broken new ground in genomic research by using Dell's storage, cloud, and high-performance computing solutions, the company discusses what will come next for it and for personalized medicine.
On the Case
Better Care Through Better Communications

6|6|12   |   02:24   |   11 comments


The achievements of the TGen/Dell project could improve how all people receive healthcare, because they are creating ways to improve end-to-end communication of medical data.
On the Case
TGen IT: Where We Are Now

5|15|12   |   06:58   |   6 comments


TGen is breaking new ground in genomic research by using Dell's storage, cloud, and high-performance computing solutions.
On the Case
TGen IT: Where We Were

4|27|12   |   06:45   |   10 comments


The Translational Genomics Research Institute wanted to save lives, but its efforts were hobbled by immense computing challenges related to collecting, processing, sharing, and storing enormous amounts of data.
On the Case
1,200% Faster

4|18|12   |   02:27   |   12 comments


Through their partnership, Dell and TGen have increased the speed of TGen’s medical research by 1,200 percent.
On the Case
IT May Improve Children's Chances of Survival

4|17|12   |   02:12   |   8 comments


IT is helping medical researchers reach breakthroughs in a way and pace never seen before.
On the Case
Medical Advances in the Cloud

4|10|12   |   1:25   |   5 comments


TGen and Dell are pushing the boundaries of computing, and harnessing the power of the cloud to improve healthcare.
On the Case
TGen: Living the Mission

4|9|12   |   2:25   |   3 comments


TGen's CIO puts the organizational mission at the heart of everything the IT staff does.
On the Case
TGen Speeding Up Biomedical Research to Save More Lives

4|5|12   |   1:59   |   6 comments


The Translational Genomics Research Institute is revamping its computing to improve speed, storage, and collaboration – and, most importantly, to save lives.
On the Case
Computing Power Helping to Save Children's Lives

3|28|12   |   2:13   |   3 comments


The Translational Genomics Institute’s partnership with Dell is enabling them to treat kids with neuroblastoma more quickly and save more lives.
Tom Nolle
The Big Reason to Use Office

3|18|14   |   02:24   |   46 comments


Office and personal productivity tools come in a first-class and coach flavor set, but what makes the difference is primarily little things that most users won't encounter. What's the big issue in using something other than Office, and can you get around it?
E2 Editors
SPONSORED: Mobile Security — A Use Case

3|4|14   |   04:27   |   16 comments


New mobile security solutions can accommodate a wide array of needs, including those of a complex university environment.
Tom Nolle
Killing Net Neutrality Might Save You Money

1|16|14   |   2:13   |   16 comments


The DC Court of Appeals voided most of the Neutrality Order, and whatever it might mean for the Internet overall, it might mean better and cheaper Internet VPNs for businesses.
Tom Nolle
The Internet of Everythinguseful

1|10|14   |   2:18   |   19 comments


We really don't want an "Internet of Everything" but even building an Internet of Everythinguseful means setting some ground rules to insure there's value in the process and that costs and risks are minimized.
Tom Nolle
Maturing Google Chrome

12|30|13   |   2.18   |   25 comments


Google's Chrome OS has a lot of potential value and a lot of recent press, but it still needs something to make it more than a thin client. It needs cloud integration, it needs extended APIs via web services, and it needs to suck it up and support a hard drive.
Sara Peters
No More Cookie-Cutter IT

12|23|13   |   03.58   |   21 comments


Creating the right combination of technology, people, and processes for your IT organization is a lot like baking Christmas cookies.
Sara Peters
Smart Wigs Not a Smart Idea

12|5|13   |   3:01   |   46 comments


Sony is seeking a patent for wigs that contain computing devices.
Tom Nolle
Cloud in the Wild

12|4|13   |   02:23   |   15 comments


On a recent African trip I saw examples of the value of the cloud in developing nations, for educational and community development programs. We could build on this, but not only in developing economies, because these same programs are often under-supported even in first-world countries.
E2 Editors
SPONSORED: Is Malware Evading Your IPS?

11|18|13   |   03:16   |   4 comments


Intrusion prevention software is supposed to detect and block malware intrusions, but clever malware authors can evade your IPS in these five main ways.
Sara Peters
Where Have All the Mentors Gone?

9|27|13   |   3:15   |   38 comments


A good professional mentor can change your life for the better... but where do you find one?
Tom Nolle
SDN Wars & You Could Win

9|17|13   |   2:10   |   5 comments


VMware's debate with Cisco on SDN might finally create a fusion between an SDN view that's all about software and another that's all about network equipment. That would be good for every enterprise considering the cloud and SDN.
Ivan Schneider
The Future of the Smart Watch

9|12|13   |   3:19   |   39 comments


Wearing a bulky, oversized watch is good training for the next phase in wristwatches: the Internet-enabled, connected watch. Why the smartphone-tethered connected watch makes sense, plus Ivan demos an entirely new concept for the "smart watch."
Tom Nolle
Cutting Your Cloud Storage Costs

9|4|13   |   2:06   |   3 comments


Cloud storage costs are determined primarily by the rate at which files are changed and the possibility of concurrent access/update. If you can structure your storage use to optimize these factors you can cut costs, perhaps to zero.
Sara Peters
Do CIOs Need an IT Background?

8|29|13   |   2:11   |   23 comments


Most of the CIOs interviewed in the How to Become a CIO series did not start their careers as IT professionals. So is an IT background essential?
Ivan Schneider
The Internet Loves Birthdays

8|27|13   |   3:25   |   69 comments


The Internet has evolved into a machine for drumming up a chorus of "Happy Birthday" messages, from family, friends, friends of friends who you added on Facebook, random people that you circled on G+, and increasingly, automated bots. Enough already.