Money2020 Attendees Share Insights and Takeaways at Bank of America Twitter Chat

AppId is over the quota AppId is over the quota Money2020 Attendees Share Insights and Takeaways at Bank of America Twitter Chat The chat was aimed at conference attendees and people who weren’t able to attend, and was designed to focus on thought leadership around payments. Unlike most chats, this event had a live audience who participated on site along with others who participated in absentia. On the live panel moderated by Peter Osborne were Farhan Siddiqi from Bank of America, Cherian Abraham from Experian, David Birch from Consult Hyperion, consultant Tom Noyes, Elizabeth Dias from Perficient, Jim Issokson from MasterCard and myself (remotely).The following transcript captures comments made during the Bank of America Money2020 Twitter chat. This transcript was edited to keep the answers to questions together. Retweets were also deleted that did not include additional content to shorten the transcript and show the flow of conversation. Metrics for the twitter chat were as follows: Total Participants: 187 Total Number of Tweets: 711 Total Reach: 574,623 Total Impressions: 6,787,715 Total Number of Retweets: 318 Bank of America @BofA_News: Welcome to the Future of Payments Innovation chat, live from #Money2020 in Las Vegas. #BofA_News is pleased to host this opportunity to connect the dots from the #Money2020 conference. My name is @peter_osborne and I’m a communications executive for #BofA. I’m joined by @FarhanSiddiqi, #BofA Strategic Planning Executive for Digital Banking.Jim Marous @JimMarous: A1: Highlight - #Amazon #PayPal #Citi #AmEx #Discover #MasterCard rocked! Showed that payments innovation never sleeps. #Money2020 Elizabeth Dias @techmktggirl: A1: Standout #Money2020 Speakers: @thefriley of @Square & @PayPal. Topics: #TomorrowsBank, Consumerization of Data & Retail 3.0 Kevin Boglarsky @kmbx2ind: #money2020A1. The keynotes even if they went a bit long. Thomas Noyes @noyesclt: A1: I thought amazon MCX and Amex did a fantastic job. Bank Innovation @BankInnovation: I enjoyed the bullishness on Bitcoin and loved the Square and Amex keynotes. - Phil Ryan, Bank Innovation #money2020 Aaron McPherson @aaronmcpherson: A1: Tokens are BIG #money2020 Jim Marous @JimMarous: A1: Loved the tweets Monday "#Bitcoin will do to money, what the internet did for information" #Money2020 Bank of America @BofA_News: A1: Sarah Friar was impressive explaining Square’s lofty mission and its simple approach – Start-Run-Grow. ^fs #money2020 Dave Birch @dgwbirch: #money2020 A1: liked the Amex stuff about the unbanked, the Zapp direct to bank account retail proposition, new PayPal stuff MasterCard @MasterCardNews: A1 - #money2020 - payments is strong. More technology to drive consumer shopping experience - making it easier to transact ngenuity Journal @ngenuityjournal: Square and Stripe -- the sweetheart keynotes of #money2020 Bank of America @BofA_News: A1: Square continues to create value propositions for customers, innovates quickly, and is making an impact ^fs #money2020 James Ray @Rockhopper08: A1 - #Money2020 presentations by #PayPal and #ISIS were most illuminating as we move into 2014. Competing visions, but must coexist. Thomas Noyes @noyesclt: #money2020 I agree that Square had the best product demo hands down... The BIGGEST play in all of commerceJim Marous @JimMarous: A1: Enjoyed the sparring of alternative payments solutions. The gloves actually came off at times. #Money2020Scott Dueweke @Scott_Dueweke: Most important trend at #money2020 is the huge number of VCs here! Xenophon Dimopoulos @XenophonD: A1: The speakers whom I was most impressed with #PayPal, #Amazon & #Stripe. Very informative!! #Money2020 Jon Stotts @JonathanStotts: #Money2020 global-focused panels yesterday were great, covering #banking, #payments & more in China, Russia India Digital Retail Apps @digitalretail: A1: I am keen on Amazon payments - they are off to a fast start with a trusted brand. Will be adding to my app methods of payment #Money2020 vadhri @vadhri: #money2020 square, PayPal and stripe keynotes were good Danny Alpizar @drat717: Funny thing square CFO produce such a good impression, she didn't show nothing new #money2020 #AmEx was the better for me Cherian Abraham @cherian_abraham: #Money2020 - MCX panel was as predictable as the Kadarshian marriage. What did we all expect would happen? Thomas Noyes @noyesclt: #money2020 MCX is NOT a shell... It is real Aaron McPherson @aaronmcpherson: @noyesclt Agree that MCX has made impressive progress - panel had a messaging issue. Where are the opportunities for #money2020 attendees? Jim Marous @JimMarous: @cherian_abraham MCX may last as long as the marriage as well. #Money2020 Aaron McPherson @aaronmcpherson: Looking forward to @noyesclt panel on tokenization - 1:40pm PST in Pinyon 4 #money2020 Paul F. Doyle @pfdvv: Concur, one of the better talks was Amex addressing the unbanked and underbanked #money2020 wadearnold @wadearnold: The quote of the year for #Money2020 - "Google is really good at collecting money from every country in the world" Thomas Noyes @noyesclt: #money2020 room agrees that the best pure presentation was Dan Schulman from #AmExBank of America @BofA_News: A1: Have you seen any products or services at #money2020 that seem particularly interesting Elizabeth Dias @techmktggirl: the @Stripe session as a top #Money2020 track as well with "FIs needing to transform into tech companies". Digital Retail Apps @digitalretail: A1 Loving the new Google Wallet approach - huge shift from a year ago; will be adding google wallet to my app method of pymnt #Money2020 vadhri @vadhri: #money2020 - demo by Loop - very impactfulBank Innovation @BankInnovation: Loop was very cool, and the session poorly attended! RT @thinkpayments: #Money2020 Good morning! I thought loop was cool. ngenuity Journal @ngenuityjournal: @BankInnovation Agree - they stood out to us too. Wasn't fair to the LP360s to put them right after 7 long keynotes w/ no break. #Money2020 Scott Dueweke @Scott_Dueweke: Impressed by the Chinese and Russian energy behind alternative payments. Easy for us to think its all about us! #money2020 vadhri @vadhri: #money2020 any presentation with less slides more demo (need to see what is possible than visionary statements) is what is needed Dave Birch @dgwbirch: #money2020 there is a long-term inexorable shift toward direct access to the funds Dave Birch @dgwbirch: #money2020 maybe in a decade Visa/MC will be switching identity instead of payments Jason A. Cobb @jasonacobb: What about the elephant in the room- offer fatigue? If offers are the driver to move from plastic & people are sick of offers… #money2020 Dun & Bradstreet @DnBUS: @jasonacobb Terrific pt. Encouraging consumers to define the offer types that interest them may help, but timing also important. #Money2020 PrairieCloudware @PrairieClouds: #money2020 skeptical of MCX as zombie apocalypse for Visa et al. Not easy to do what they are trying to do without committees/competitorThomas Noyes @noyesclt: #money2020 retailers are tired of playing by someone else's rules... The are forming the NFL of retail. Dave Birch @dgwbirch: #money2020 good point about the BRICs, who are all developing their own debit systems Jim Marous @JimMarous: Given innovations by big players, no more standing on sideline. Need to place payments solution bets. #paymentsroulette #Money2020 David W Pipe @DavidWPipe: China mobile commerce will explode as 3rd/4th tier cities come online, while so many players are only focused on the US market. #money2020 Cherian Abraham @cherian_abraham::#Money2020 - MCX is treasury groups leading the efforts. Without Marketing involvement, the customer value prop will be missing Sam Maule @sammaule: So the morning TwitterChat jumps right into #MCX - as Tom Noyes put it - MCX is real. Might take 5 yrs but it is real.#money2020 Thomas Noyes @noyesclt: #money2020 MCX addresses loyalty by agreeing every retailer is different. They can support unique loyalty services in a common way Jason A. Cobb @jasonacobb: Big innovation coming up will be more focused on access to banking 4 under served & to payments & credit for starting businesses. #Money2020 Dun & Bradstreet @DnBUS: @jasonacobb Definitely an area for startups...and also for traditional finserv players (via acquisitions). #Money2020 Sara Abernethy @saritasla: @jasonacobb @money2020 Agreed. Big data needs to be about creating experiences. Sole focus on offers is a race to the bottom. #money2020 Jim Marous @JimMarous: A2: Takeaway - #NFC was declared dead . . . again, and again, and again #Money2020 James Wester @jameswester: You can keep saying "it's not about payments," but you still have to do payments flawlessly. That's not a parlor trick #money2020 Paul F. Doyle @pfdvv: @BofA_News biggest take away...the people, the connections, the meetings #money2020 Thomas Noyes @noyesclt: #money2020 this event is the best networking event I've ever attended.. Fantastic. Elizabeth Dias @techmktggirl: A2: In the words of Sinatra, "the best is yet to come" w/ #Payments yet Q's still remain (strategy, fintech, penetration). #money2020 Dave Birch @dgwbirch: #money2020 a2 I think it's too big this year! It's hard to fit in all of the meetings and still see some of the sessions Aaron McPherson @aaronmcpherson: A2: Presenters playing it safer this year #money2020PrairieCloudware @PrairieClouds: #money2020 Biggest takeaway is the networking done. Would come again for that alone. David W Pipe @DavidWPipe: A2: Too many players still trying to solve payment - while payment isn't broken. It's about solving other problems. #money2020 Adam Snyder @snyderstrategy: A2: In the words of Sinatra, "the best is yet to come" w/ #Payments yet Q's still remain (strategy fintech penetration) #money2020 James Ray @Rockhopper08: A2: #Money2020 insights? Consumers aren't seeking to "pay" for transactions, they are seeking to transact. Payments are ancillary. Jim Marous @JimMarous: A2: Takeaway - Conference proved that among more than 4000 #fintech followers, nobody has all the answers #Money2020Paul F. Doyle @pfdvv: It is TOO Big? Yes, this was said today in Vegas...but it is about the conference, not what you might imagine #money2020 Norman Guadagno @ThinkTone: My biggest disappointment with #Money2020 was not enough bling. Needed more gold $ necklaces. Oh, and that consumers are still confused. ngenuity Journal @ngenuityjournal: @dgwbirch compares #money2020 to SXSW's growth -- need to make sure the media presence and corporatism doesn't overshadow authentic convos Kevin Boglarsky @kmbx2ind: #money2020A2. Size of the event might have exceeded a comfortable size. Both in number of sessions and keynotesmore time for networking Jim Marous @JimMarous: A2: Size of event dictated by size of challenge and opportunity in payments today. I wish I could have added one more. #Money2020 Xenophon Dimopoulos @XenophonD: A2: My takeaway is simple, if your business is in emerging payments and financial services, you should attend #money2020 Dave Birch @dgwbirch: #money2020 there's a limit to what the technologists can do in payments, there are regulatory contexts that need to be shifted Sam Maule @sammaule: There are structural and regulatory blockers inhibiting major innovation in payments. Good point from @dgwbirch #money2020 Paul F. Doyle @pfdvv: Point about regulators preventing banks from innovation...very good point #money2020 Digital Retail Apps @digitalretail: A2: shopping and paying flow will be seamless & integrated - not disjointed as it is today #Money2020 Social Network Woman @Donnaantoniadis: I was impressed with @AmericanExpress and their @serve product #Money2020 Jim Marous @JimMarous: A3: Shopper is no longer a follower, but is leading the charge with a mobile-first mentality. We need to keep up. #Money2020 Cherian Abraham @cherian_abraham: #Money2020 - Paypal defaulting to Bill Me Later as funding source in app was smart, towards building a compelling merchant value prop. Cherian Abraham @cherian_abraham: #Money2020 - Paypal knows how to manage risk, sometimes at the expense of cust experience. Bill Me Later is Paypal finetuning its economics Aaron McPherson @aaronmcpherson: A3: Shopper of the future will have vast information (some of it false) - challenge is going to be to penetrate the cloud #money2020 David W Pipe @DavidWPipe: A3: Shopper of the future will expect identical, seamless experience across all channels - at warp speed. #money2020 Thomas Noyes @noyesclt: #money2020 consumers and merchants will migrate toward value... Payments will evolve to dumb pipes... Something that should work.. Value Elizabeth Dias @techmktggirl: A3: I use the term “omnichannel shopper”: digital, frictionless #CX, value & meaningful engagement during commerce exp. #money2020 Dave Birch @dgwbirch: #money2020 i do think that payments will begin to vanish from the consumer shopping experience Perficient Fin Serv @Perficient_FS: @dgwbirch Agreed, it's all about putting it in context for the consumer or biz. #money2020 Kevin Boglarsky @kmbx2ind: #money2020 Q3. They will be more connected via apps and expectations for payments will be higher. Behind the scenes but easierD3 Banking @D3Banking: #money2020 consumer of the future will be like consumer of today. Convenience, choice and security will direct their behavior. Dave Birch @dgwbirch: .@aaronmcpherson visa/MC could switch merchant identities too and therefore anchor distributed reputation management #money2020 Thomas Noyes @noyesclt: #money2020 banks and V/MA are NOT the center of commerce.. They should work to support it. Few large companies excel at helping others Bank of America @BofA_News: A3: Connected. Informed. Having an abundance of choices. ^fs #Money2020 Dun & Bradstreet @DnBUS: High expectations: "Know me"--very location & platform. RT @BofA_News A3: Connected. Informed. Having an abundance of choices. #Money2020 D3 Banking @D3Banking: #money2020 consumer of the future will more and more expect FIs to behave as retailers. This is not good news for many FIs. Thomas Noyes @noyesclt: #money2020 networks are hard to change. They were formed around an existing value proposition... Agreement... Revenue shares... Rules . .David W Pipe @DavidWPipe: A3: I also believe any solution that tries to dis-intermediate the banks is doomed to failure. #money2020 Bank of America @BofA_News: A3: Expects simple, seamless experiences across channels and more personalized, relevant propositions. ^fs #money2020 Thomas Noyes @noyesclt: #money2020 new networks are forming and most see them though the lens of what we have today (we do that already). The basis of competition Kevin Boglarsky @kmbx2ind: #money2020Discover, Am, v & McCoy need to facilitate commerce. Not just payments. There are Benefits in using safe secure infrastructure Thomas Noyes @noyesclt: #money2020 value proposition is changing.. Consumer trust is not locked in a bank... Just as commerce value is not locked in a card Bank of America @BofA_News: A3: Data is nothing without insight and analysis. ^fs #Money2020 James Ray @Rockhopper08: A3: Future consumers will be better informed and more efficient, with higher expectations; Payments akin to electricity - utility #Money2020 Dun & Bradstreet @DnBUS: A3: Future shoppers will expect a seamless navigation btwn digital & physical. #Money2020 D3 Banking @D3Banking: Nowhere is the gap between FIs and retailers greater when it comes to serving the consumer than in how data is used. Paul F. Doyle @pfdvv: What about B2B? ...are we, as an industry giving enough attention to B2B payments at this event? Me think, not! #money2020 Elizabeth Dias @techmktggirl: "@Apple may very well be the leader when it comes to mobile commerce." #money2020 David W Pipe @DavidWPipe: A3: Secure payment will become nothing more than a hygiene factor as solutions focus on other issues. #money2020 Bank Innovation @BankInnovation: Apple, again the elephant in the room #money2020 Dun & Bradstreet @DnBUS: A3: Retailers will have to battle for shoppers' mental space as they seek to reduce irrelevant offers. #Money2020Thomas Noyes @noyesclt: #money2020 why isn't Apple doing more in payments? They have so much opportunity. They care about great consumer experiences Aaron McPherson @aaronmcpherson: @noyesclt I used to think Apple had a master plan, but now I wonder if they just have bad management. #money2020 Micah Bergdale @nycmacguy: @aaronmcpherson @noyesclt Apple getting into traditional payments would be a divergence of strategy & is not who they want to be #money2020 Aaron McPherson @aaronmcpherson: @noyesclt @nycmacguy Agreed, but I worry that they're missing the window. #money2020 Jason A. Cobb @jasonacobb: Excellent point, Apple & Google occupy the same mental space as MS and IBM did in the past as the big bullies. #Money2020 Dun & Bradstreet @DnBUS: And analysis is nothing w/out the right ?s. RT @BofA_News: A3: Data is nothing without insight & analysis. ^fs #Money2020 #Money2020 Scott Dueweke @Scott_Dueweke: The aging of the population will force mobile into the mainstream, I believe....#money2020 Elizabeth Dias @techmktggirl: A4: Relevant context around payment exp itself, and creating "openness" with apps & services that solve a true cust problem. #money2020 Jim Marous @JimMarous: A4: #Mobile pymnts need perceived security, ease of use and guarantees of cards. Authentication solution = Tipping point #Money2020 James Ray @Rockhopper08: A4: Mobile payments will become mainstream when "open architecture" permits coexistence - no walled gardens! #Money2020 Paul F. Doyle @pfdvv: Mobile payments becoming mainstream is a function of time avid famiiariyh...and consolidation of methods #money2020 Social Network Woman @Donnaantoniadis: So difficult to change consumer behavior - #money2020 Micah Bergdale @nycmacguy: Juniper Research: mobile ticketing, specifically transport, will drive adoption of mobile payments. We are seeing that in the US #money2020 Arnold Ochoa @a8a: In order to become mainstream mobile payments must be ubiquitous, convenient and add value to current payment methods #money2020 PrairieCloudware @PrairieClouds: Mobile payments tech in its current state is still a solution looking for a problem. Cards are simple, fast and secure enough. Jim Marous @JimMarous: A4: #Mobile Pymnts Mainstream: Friction needs to be eliminated for the merchant, the consumer and the bank #Money2020 Aaron McPherson @aaronmcpherson: Q4: when will mobile payments be mainstream? A4: in digital media, it already is. #money2020 Lanny Byers @lannybyers: Dave Birch at the BofA chat says mobile app is not about payment but about the experience. I agree! #money2020 @chyppings @BofA_News Thomas Noyes @noyesclt: #money2020 mobile pos pmts are dependent on value... And changing consumer behavior. Apple has highest trust to change behavior Bank of America @BofA_News: A4: Simpler, faster, secure & more value-add for the shopper & economically beneficial for merchants & financial institutions ^fs #money2020 Kevin Boglarsky @kmbx2ind: #money2020 Mobile going mainstream: have to remove a pain point for consumer or remove friction is a process. Value for the consumer? Sam Maule @sammaule: Technology impacts payments. Visa's CMO on payments strategy "We design around the flick". #money2020 Bank of America @BofA_News: A4: When we have a business model that retailers and banks can get behind… ^fs #money2020 JamesRonca @jamesronca: Mobile payments will be mainstream when they are as easy and convenient as pulling a card from your wallet. #Money2020 Dun & Bradstreet @DnBUS: A4: For mobile payments to go mainstream, need cooperation among the mobile carriers, merchants & financial institutions. #Money2020 Jim Marous @JimMarous: A4: 'Simple' is the new black with mobile. Mobile payments become mainstream when all processes are streamlined. #Money2020 Cherian Abraham @cherian_abraham: #Money2020 - To deliver customer value, one needs context..and lots of it. Which is what makes Banks and Google for example irreplaceable. Sara Abernethy @saritasla: Mobile payment alone does not change the process of checkout in retail. Shopper still waits in line with existing wallets. #money2020 Bank of America @BofA_News: A4: AND there is a compelling enough use case to incent customers to change their behavior (beyond the payment) ^fs #money2020 Bank of America @BofA_News: For mobile payments to succeed they need to be universally accepted. ^fs #money2020 Social Network Woman @Donnaantoniadis: Consumer education is key to changing consumer behavior - #money2020 Bank Innovation @BankInnovation: Huge gap in customer awareness to be overcome to advance mobile payments @techmktggirl #money2020 Cherian Abraham @cherian_abraham: #Money2020 Banks & Google are positioned in a way to capture a lot of customer context and can deliver value if & when they make use of it. Paul F. Doyle @pfdvv: If I have to think about the payment instead about the purchase, then there is a big problem with the payment system #money2020 James Wester @jameswester: Educating consumers IS important. But sometimes, maybe frequently, it's not dumb consumers. Sometimes the product just sucks. #money2020 D3 Banking @D3Banking: #money2020 How will mobile payments overcome the app apocalypse? Asking consumers to open multiple apps ultimately fails. Dun & Bradstreet @DnBUS: A4: Must have a value prop that resonates: what does this do that my card doesn't do today? #Money2020 Arnold Ochoa @a8a:I don't need different kinds of banknotes to buy in different places, why should I need a diff app to pay on different venues #money2020 PrairieCloudware @PrairieClouds: #money2020 Mobile payment apps are a failed strategy at least in the USA. Too many and too irritating to search through apps, find, use. John Muller @jmuller: @noyesclt makes the point: even with strong product, persuading consumers to change behavior is hard and slow. #money2020 Micah Bergdale @nycmacguy: @bytemarkinc processing millions of $ in mobile payments with ticketing. Amazing we are doing more than Isis & PayPal/HomeDepot #money2020 Bank of America @BofA_News: Thanks to everyone who got up early here in Vegas to join the #Money2020 Future of Payments Innovation chat.

Tuesday Afternoon Tweets at Money2020 Combine Insightful & Snarky

AppId is over the quota AppId is over the quota Tuesday Afternoon Tweets at Money2020 Combine Insightful & Snarky Unfortunately, the other spike in tweets represented primarily snarky comments, as attendees became restless in expectation of a major announcement from the MCX panel than never occurred. This not uncommon at events like this, where a tone is set for the day and patience grows thin when all presentations don't deliver equally. Even without the two major tweet spikes for the hashtag #Money2020, the discussion on twitter was robust throughout the day on Tuesday as it was on Monday. The combination of comments around megatrends as well as product insights made for interesting reading at the event as well as from afar.  In just it's second year, #money2020 is to payments what Mobile World Congress is to mobile. Great, well done event and *everyone* is here.— jake furst (@furst) October 8, 2013Has everyone underestimated Amazon's potential to crush payments? High trust, 215 mm active accounts, pushing to Pay With Amazon.#money2020— Kate Fitzgerald (@plasticpayments) October 8, 2013Chat with us & our panel of experts on the future of payments innovation. 10/9 at 7:30AM PST. #Money2020. RSVP here: http://t.co/Ay5v2twhh8— Bank of America (@BofA_News) October 8, 2013Impressive mobile payment technology by @LoopPay: It emulates the same magnetic field as your credit card http://t.co/XbVBgtOJHH #money2020— Erol Kazan (@ErolKazan) October 8, 2013#Money2020 Tweet Highlight Reel Monday: http://t.co/ll2PP0Wvai Tuesday AM: http://t.co/55lE6uWhVn #payments #mobile— Jim Marous (@JimMarous) October 8, 2013"Finance companies are going to need to become technology companies" -- Patrick Collison, Stripe #Money2020— Scott Baldwin (@benry) October 8, 2013While there were over a hundred tweets during the MCX presentation, there was minimal 'love' since the presentation was long on self promotion and short on facts or a new product announcement. The audience was obviously still stoked from the morning sequence of new product announcements from payments leaders like Amazon, PayPal, Citi, MasterCard, American Express and Discover.Seems clear that the value prop to #MCX is all about retailers and they just said so, merchants are driving. No consumer focus? #money2020— Suzanne LaProva (@SuzanneLaProva) October 8, 2013There is no substance to this conversation about MCX. Disappointed. #money2020— Erin McCune (@erinmccune) October 8, 2013The twitter feed on MCX is way more entertaining than the panel #money2020— Aaron McPherson (@aaronmcpherson) October 8, 2013Why do so many "vision videos" look alike? Predicting the future is much easier than creating it. #Money2020— Norman Guadagno (@ThinkTone) October 8, 2013MCX represents 700M customer loyalty and payment accts... not far from the summation of Apple (575M) & Amazon (215M) #money2020— Mike Crawford (@mccrawf7) October 8, 2013Tons of mobile payments hype here at #money2020 -- here's a contrarian view of the challenges the industry faces. http://t.co/7JfkmKMSl3— ngenuity Journal (@ngenuityjournal) October 8, 2013What if we as an industry adopt the @LivingSocial mindset to create inspiration in the hearts of consumers everyday? #imagine #money2020— Suzanne LaProva (@SuzanneLaProva) October 8, 2013"Winners in the space will be the ones who can combine the device with the experience" @MungKiatMC #money2020— Erla Ósk Ásgeirsdótt (@erla_osk) October 8, 2013Jingming Li of AliPay says shops closing as more commerce goes online. Stores becoming "experience centers" for online #money2020 #China— Scott Dueweke (@Scott_Dueweke) October 8, 2013For emerging markets its essential to provide wallet solutions working seamless across both smartphones AND feature phones #money2020— Jan Hallberg (@jhb_mcom) October 8, 2013Yandex, Russia's search engine, looms large: it is 3x more popular than @google, w/ 15MM users, 50K merchant accounts- #money2020— ngenuity Journal (@ngenuityjournal) October 8, 2013"Let's redefine loyalty. It's not discounts or coupons but can we add value in every transaction? How do we personalize the exp?" #money2020— Walt Cox (@waltrcox) October 8, 2013Full house at today's LatAm session ! Read what consumer says on the topic in our latest #consumerlab rep: http://t.co/lziQha0LCC #money2020— Ericsson M-Commerce (@EricssonMcomm) October 9, 2013#money2020 question: will the bank cannibalise their own interchange revenues. My answer: Yes, but if they don't someone else will— Dave Birch (@dgwbirch) October 9, 2013#money2020 Hank on panel: "International transfer infrastructure can't keep pace with volume today"— Earthport (@Earthport) October 9, 2013Loyalty panel - Get the payment part of mobile wallets right first, then loyalty programs can be a differentiator #money2020— anncave (@anncave) October 9, 2013Will digital #payments in China go mainstream in the next five years? #Money2020 Panel divided. #banking #SightSpan— Jon Stotts (@JonathanStotts) October 9, 2013While we've been talking all day about replacing cash #money2020 @money2020, Benjamin Franklin got a makeover today. http://t.co/Ecq45lTu2D— PinkInPayments (@PinkInPayments) October 9, 2013Things are heating up #PayPal party aria #money2020 @ Aria Pool & Cabanas http://t.co/4KdaYCZRq1— Daniel Weckend (@cuervodan) October 9, 2013U.S. Bank, Monitise partner for mobile commerce #Money2020 http://t.co/5JewwaUoiz— Mike Crawford (@mccrawf7) October 9, 2013Bitcoin sets the agenda on day one of #Money2020 conference http://t.co/EvsBnUdeRl as digital currency remains the hot topic— Sophie Donkin (@SophieDonkin) October 9, 2013The 7 Most Inspirational Quotes From The First 24 Hours of #Money2020 - Anil Arora CEO of #Yodlee included http://t.co/sT2rOeUxSm— Yodlee (@Yodlee) October 9, 2013#Money2020 Music Downloads 'A Time for Growth' http://t.co/rINgCNoZH1 'Titans of the Industry' http://t.co/o7NphhcXKq— Jim Marous (@JimMarous) October 8, 2013Thanks to all of the tweeters both at Money2020 in person as well as those who are living vicariously through others (@leimer). Your coverage and commentary on the event are invaluable.Here are the top 10 tweeters who have used the #Money2020 hashtag to date.

Monday at Money2020 in Tweets

AppId is over the quota AppId is over the quota Monday at Money2020 in Tweets #money2020 has started. Read the blog of 3 questions to be asked in almost 60 sessions: http://t.co/X7JIS61Tx1’s— Money2020 (@money2020) October 6, 2013#money2020 "what happens in Vegas, gets tweeted from Vegas"— Dave Birch (@dgwbirch) October 7, 2013Money2020 looks to be an awesome event. Sold out, it looks like EVERYONE is here. @Wmagency #money2020— William Mills (@williamemills) October 7, 2013Omni-Channel Reality: "67% of consumers have started shopping on device but completed the purchase elsewhere" -Kevin Levitt #money2020— comScore FinServ (@comScoreFS) October 7, 2013$Mitk and Experian® Collaborate to Help Organizations Monetize the Mobile Channel http://t.co/cqFCNfizbu #money2020 #mobile #technews #tech— Deppilf flippeD (@deppilf) October 7, 2013From Scott Grimes: Adding mobile to a banking relationship adds 6 touchpoints per week #money2020— Ryan Page (@helloryanpage) October 7, 2013#money2020 MasterCard have already used my favourite statistic! US is a quarter the world's card volume but half the world's card fraud— Dave Birch (@dgwbirch) October 7, 2013State of Gift Cards this morning at #money2020. Here's what @rsrresearch says about the best digital gifting programs http://t.co/4lPzhfL5ko— CashStar, Inc (@CashStar_Inc) October 7, 2013The chances of Bitcoin being regulated out of existence are the same as the entire Internet being regulated out of existence. #money2020— Bank Innovation (@BankInnovation) October 7, 2013Dwolla launches #realtime payments in beta, promises new level of convenience with same transaction cost http://t.co/alh5S2hhAs #money2020— Dwolla (@dwolla) October 7, 2013Patrick Gauthier from #PayPay "Regulation is like flood insurance. You bitch about paying for it until you need it." #money2020— Sam Maule (@sammaule) October 7, 2013#money2020 Fred Neil @HomeDepot Payments-retail-consumers: win-win-win collaboration that can be used effectively in marketing programs— IMTC (@IMTConferences) October 7, 2013RT @davidschropfer: 52% of users who have not used mobile for shopping say they are neutral to ever doing so. @comScore #money2020— comScore, Inc. (@comScore) October 7, 2013Why do you have to pay high fees to use your own money? @SuzeOrmanShow was giving the financial industry a hard time today! #money2020— Ericsson M-Commerce (@EricssonMcomm) October 7, 2013CardLinx unites Microsoft, Facebook, BofA, LivingSocial, FirstData, Cardlytics- most interesting yet from #Money2020 http://t.co/IhtcPOvYYm— Andera (@AnderaInc) October 7, 2013Dear #money2020 attendees: Hoping one of you will keep track of all the different definitions of "mobile wallet" that speakers provide.— rshevlin (@rshevlin) October 7, 2013#NFC = Not for Commerce. Panel on Innovation in Online Payment Networks. #money2020Between 1/3 and 1/2 of the audience claimed to be working on integrating Bitcoin into their businesses at the Bitcoin panel @ #money2020 !!— Roger Ver (@rogerkver) October 7, 2013Results of poll:44% here polled say phone at POS market share will be 50% won't happen until 2020 or LATER. #money2020— William Mills (@williamemills) October 7, 2013@KausikRajgopal at #money2020 the survey reflects 29% of attendees believe that banks have the most to lose with the innovation in 7 years.— Mike Horrocks (@mikehorrocks) October 7, 2013840 users and 1,204 tweets (846 RTs) in 2 weeks made #money2020 a Trending Topic in United States. #trndnl— Trendinalia USA (@trendinaliaUS) October 7, 2013How Bitcoin will do to money what the web did to information #money2020 http://t.co/UIhNx89n3Q— Business Insider (@businessinsider) October 7, 2013Visa syas it can double size of its network over next 5 years through use of mobile acceptance devices, says exec Jim McCarthy #money2020— ngenuity Journal (@ngenuityjournal) October 7, 2013@PayWithIsis is launching a new version of their mobile wallet. Bravely with live demo! #money2020 pic.twitter.com/oRrMmy5EyP— Ericsson M-Commerce (@EricssonMcomm) October 7, 2013CEO Mike Abbot of ISIS mobile wallet estimates by next year there will be 30M enabled ISIS phones to make payments, #money2020— ngenuity Journal (@ngenuityjournal) October 7, 2013Of course @phazlehurst is wearing his Google Glasses on stage at #Money2020 - will he send money by blinking?— Erin McCune (@erinmccune) October 7, 2013Google using an iPhone to present their payment app is the cockiest move I've seen at #money2020 Love it.— Alex Maffeo (@AlexMaffeo) October 7, 2013My takeaway from #Money2020 keynotes? Still lots of solutions searching for a real consumer problem to solve.— Norman Guadagno (@ThinkTone) October 7, 2013I’m really surprised by how many blackberries I see in use here at #Money2020. Of course, I’m surprised when I see even one…— Jason A. Cobb (@jasonacobb) October 7, 2013@GoogleWallet has just announced new partnership with @Walgreens for #digital loyalty program at #Money2020— SpecOpsComm (@SpecOpsComm) October 7, 2013Mobile wallets are the "game changer" for P2P payments because everything is right there, says Dave Wilkes of @fusenetwork #money2020— ngenuity Journal (@ngenuityjournal) October 7, 2013P2P need to be done in, or close to, real time so that the time-to-spend is equivalent to cash. #money2020— Ericsson M-Commerce (@EricssonMcomm) October 7, 2013#money2020 Amex reckon that checking account costs 2.5x Bluebird account— Dave Birch (@dgwbirch) October 7, 2013@chuckcordray There must be transparency to be able to monetize #bill pay data. #FutureOfBillPay #money2020— Perficient Fin Serv (@Perficient_FS) October 7, 2013.@Simplify CEO Josh Reich talks about pushing out 10,000 app updates vs. banks' quarter update cycles. "3 months is an eternity" #money2020— JP Nicols (@JPNicols) October 7, 2013Heard from Simple CEO Josh Reich (@i2pi): “As an incumbent, you’re building a 2013 mobile experience on top of 1970’s technology” #Money2020— Tyler Felous (@TMFelous) October 7, 2013@foursquare using #geolocation to push card-linked offers w/out user checking in #money2020— VeriFone (@VeriFone) October 7, 2013Best part of asking question at #money2020 panel discussion about online banking is that you get a #Patron shot.— David Pinski (@dapinski) October 7, 2013Jered Kenna, founder of bitcoin exchange TradeHill: "Banks are afraid of anything that's new." @money2020 #money2020 @Minyanville #bitcoin— Josh Wolonick (@JoshWolonick) October 7, 2013In US, 57% have savings of < $25,000. Info lacking for people to make financial decisions about life, says Anil Arora of @Yodlee #money2020— ngenuity Journal (@ngenuityjournal) October 7, 2013Heard at Money 2020 - "The option to expedite a bill payment today is a billion dollar business."— D3 Banking (@D3Banking) October 7, 2013Health and Finance are the most important things so people can live their lives-but they can’t see it in one place @Ryan_Caldwell #Money2020— Matt West (@Matt__West) October 7, 2013Incumbents have vested interest in not opening up the app ecosystem, but it's changing says Jim Schinella of @Manilla #money2020— ngenuity Journal (@ngenuityjournal) October 7, 2013The only data more valuable than Google's is financial data. How do we use it for good!? @moneydestop @Yodlee #money2020— Melanie Flanigan (@MelanieFlanigan) October 7, 2013"There are no unbanked people in the US." Dave Wilkes @fuzenetwork. Either I missed his point, or I...disagree. #money2020— David W. Schropfer (@davidschropfer) October 7, 2013#money2020 Bitcoin 'settles nearly instantly' is this good enough for the future of payments?— Debbie Gamble (@debgamble1) October 7, 2013"If we said 'With your permission we would add value to your life,' most people would support that," says Anil Arora of @Yodlee #money2020— ngenuity Journal (@ngenuityjournal) October 7, 2013One big question at #money2020 surrounds #privacy. Is it dead, is it irrelevant, is it secured, is it swapped for $? What do you think?— Mike Horrocks (@mikehorrocks) October 7, 2013#money2020 is like the Who's Who of #Payments. Be There Or Be Square. Well, not @Square, like nerdy. Forget it. #PaymentsHumorIsTough— CNPsolutions LLC (@CNPsolutions) October 7, 2013@dgwbirch just hit the nail on the head, calling American identity mgmt "Security Theater" at best. #Money2020 #FakePortugeseFishingLicense— (?°?°)?? ???? (@msgrasser) October 8, 2013"No offense, but 99% of what I've heard so far at #money2020 has been *consumer*. The elephant in the room is...*business* banking" <= Truth— Michael Levinson (@mdlevinson) October 8, 2013Does the emergence of 'mobile' mean the death of bank branches? Send us your thoughts on #VocaLink. #banking #payments #Money2020— VocaLink (@VocaLink) October 8, 2013What? Why?! Cheers! #money2020 @ Money2020 http://t.co/IZnvVyE6iw— Alex Linebrink (@AlexLinebrink) October 8, 2013

Money2020 Hump Day Tweet Highlights

Despite many people heading back home, the momentum for the day didn't stop, with keynotes from Facebook, Bank of America and First Data being a bridge to excellent 'Launchpad' sessions where new products were introduced each day in 6 minute intervals similar to Finovate.Highlights of tweets made up until the lunch are provided below.#Money2020 Banks & Google are positioned in a way to capture a lot of customer context and can deliver value if & when they make useof it.— Cherian Abraham (@cherian_abraham) October 9, 2013@noyesclt makes the point: even with strong product, persuading consumers to change behavior is hard and slow. #money2020— John Muller (@jmuller) October 9, 2013Tweet Recap of Mon/Tues - Mon: http://t.co/ll2PP0Wvai Tues AM: http://t.co/55lE6uWhVn Tues PM: http://t.co/LNwvynrB8x #Money2020— Jim Marous (@JimMarous) October 9, 2013Watching Deborah Liu of #Facebook payments. How far will she go in exposing their goals of being the ID engine for alt payments? #money2020— Scott Dueweke (@Scott_Dueweke) October 9, 2013The @facebook ecosystem supports 55 currencies, 80 pmt methods and over 1MM pmts daily. Heck yes, they're a player in payments! #money2020— Suzanne LaProva (@SuzanneLaProva) October 9, 2013800 million Facebook users on mobile. #money2020— Sam Maule (@sammaule) October 9, 201350% of apps are abandoned within the first month of use, according to @facebook presenter at #money2020— ngenuity Journal (@ngenuityjournal) October 9, 2013Money2020 Word Cloud Created By My Friends at TSYS#money2020 @facebook Showing integration of facebook in shopping experience ... more evolutionary (A to B) than revolutionary (A to M)— chris fleischer (@ccfleischer) October 9, 2013BofA: 50m customers; 30m online; 14m mobile; 200+ debit swipes/sec; ~100 credit swipes/sec; 3m small biz customers #money2020 --that's scale— Scott Baldwin (@benry) October 9, 2013Bank of America adding 40k-50k mobile banking users every week. #money2020— Eric Rosenzweig (@erosenzweig) October 9, 2013@bankofamerica saves customers $15MM and advertisers $151MM with Bank AmeriDeals powered by @cardlytics #money2020— B.Horne (@BHorne_bdh) October 9, 2013The most used mobile payment device is the debit/credit card. Aditya Bhasin at #money2020— Bank of America (@BofA_News) October 9, 2013FirstData launching Clover at #money2020 http://t.co/Xhs2tyYsOL— Scott Baldwin (@benry) October 9, 2013#Pangea wants to revolutionize money transfers, remittances. 250m people transfer $500b/yr market. US/Mexico launch 1st #money2020— Scott Dueweke (@Scott_Dueweke) October 9, 2013RT @PamelaLeiSmith RT @sheusuk: Very cool demand generation tools embedded into Spark Pay, plus a great skit and free cake pops. #money2020— Social Network Woman (@Donnaantoniadis) October 9, 2013Simplee integrating payment plans into its healthcare payment management service. Great banking opportunity #money2020— Jim Bruene (@netbanker) October 9, 2013@fastacash allows users to send money via social platforms such as @facebook, @Skype, @Twitter #money2020.— ngenuity Journal (@ngenuityjournal) October 9, 2013@Zumigo1 allows issuers to geolocate customers via their phones so that they can authenticate users in cases of suspected fraud #money2020— ngenuity Journal (@ngenuityjournal) October 9, 2013Catching up on #money2020 via Twitter. There are more elephants in the room there than Africa, apparently.— Dominic Venturo (@innov8tr) October 9, 2013Experian launches consulting services for the mobile market at #Money2020 http://t.co/CcdX5gQqUg Congrats @cherian_abraham !!!— LoyaltyPayments.com (@mloyaltypayment) October 9, 2013Stuart Aitken, CEO dunnhumby USA: "data allows you to see customers as individuals" "demographics tell you nothing" #BigData #money2020— Iker de los Ríos (@ikerdlr) October 9, 2013Digital ID just as messy in banking as it is in tech #money2020 panel on emerging authentication and ID solutions— Scott Baldwin (@benry) October 9, 2013User behavior the holy grail for authentication? Current model way too complex. Need standardized security model states panel. #money2020— Sam Maule (@sammaule) October 9, 2013Personal opinion: Until Apple supports NFC, NFC will not become the new standard for payments #money2020— Howie Wu (@Howie_Wu) October 9, 2013Cardless ATMs Allow You To Get Cash with Your Phone via @CNNMoney #money2020 #mobilecommerce http://t.co/6x2oCtwTKw— SpecOpsComm (@SpecOpsComm) October 9, 2013One differentiation of Leaf v @Square: Leaf believes merchant better served w/ dedicated POS hardware-Leaf CEO Aron Schwarzkopf #money2020— ngenuity Journal (@ngenuityjournal) October 9, 2013New Gartner data shows banks drop from top digital wallet consumers likely to use in future #Money2020 #GartnerSYM pic.twitter.com/5RiQ3M4yep— Mike Crawford (@mccrawf7) October 9, 2013#money2020 finally made it in to the exhibition - now on the swag trail - vanitv M&Ms current fave— Dave Birch (@dgwbirch) October 9, 2013

Tuesday Morning at Money2020 Filled With New Product Announcements

AppId is over the quota AppId is over the quota Tuesday Morning at Money2020 Filled With New Product Announcements Note: Each of these tweets are 'live' allowing you to access, re-tweet, favorite, etc. Thanks to everyone for the great digital conversation that makes the event a worldwide gathering.Day 2 of #Money2020 ahead and they just pushed the keynotes to 20 minutes later. Maybe I can go lose $20 more? #20overload— Norman Guadagno (@ThinkTone) October 8, 2013Sign Up for Wed. Twitter Chat Breakfast at #Money2020 @dgwbirch @cherian_abraham @techmktggirl @noyesclt http://t.co/iyhW73z7Fn— Jim Marous (@JimMarous) October 8, 2013Partnerships are critical to success in technology innovation #money2020— Matt Wilcox (@mattwilcoxpro) October 8, 2013"More iPhones sold than babies born" via @PayPal - I love mobile but that's frightening #money2020— Walt Cox (@waltrcox) October 8, 2013The battle is joined at #Money2020...as #PayPal and #ISIS exchange blows during their keynotes (respectively). Game on!— James Ray (@Rockhopper08) October 8, 2013@paymentsnews: PayPal Introduces Payment Code for POS Purchasing http://t.co/dzZPKCadTw #money2020— Erin McCune (@erinmccune) October 8, 2013@PayPal omnichannel announcements: PayPal App (new), PayPal Beacon, & Payment Code (QR). Where does this leave FIs?#CreditUnions #Money2020— Walter Cunningham (@cunningham95) October 8, 2013Citi and Aetna to debut in January an app dubbed M2Health to make payments and billing easier says Gary Greenwald of @Citi #money2020— ngenuity Journal (@ngenuityjournal) October 8, 2013#money2020 props to Citi for best acronym so far NFC = needlessly fucking complicated— Dave Birch (@dgwbirch) October 8, 2013So Citi 'leaps' into NFC and PayPal launches QR codes. Is this #money2020 or is this #money2005? Where's the innovation?— Bradley Leimer (@leimer) October 8, 201385% of global payments and 50% of US payments are still cash and check according to MasterCard research. #Money2020— Jason A. Cobb (@jasonacobb) October 8, 2013Consumers don't want to pay in a different way that's slightly more complex, but want to see a benefit- Ed McLaughlin @MasterCard #money2020— ngenuity Journal (@ngenuityjournal) October 8, 2013#money2020 we're all edging towards the Something Present (SP) model, if you ask me— Dave Birch (@dgwbirch) October 8, 2013MasterCard discussing working with Visa/Amex on defining payment standards. Tokenization, form factors, consistent UI #money2020 #money2020— Walt Cox (@waltrcox) October 8, 2013Next Level of Instant Gratification Combination of physical and digital #payment worlds http://t.co/ZiAt5qxKYI #money2020— Jim Marous (@JimMarous) October 8, 2013@square merchants sign up in 3 minutes. In four years, 4.5M customers, doubling every 9 months. #money2020— ngenuity Journal (@ngenuityjournal) October 8, 2013#AmEx Serve® Introduces New Money Management Capabilities and a Free Cash Load Network http://t.co/IJ063wvhRL #Money2020— Jim Marous (@JimMarous) October 8, 20131 Million $AXP Bluebird customers, $1B+ in balances 39% funded via direct deposit 87% enrollees new to AMEX 47% consumers <35 #money2020— Mike Crawford (@mccrawf7) October 8, 2013Reserve (@americanexpress Serve) actually encourages/facilitates positive financial behavior - teach a person to fish-well done! #money2020— Raph J. (@dninjaraph) October 8, 2013We're entering into era of the nonbank, consumers have all the power in palm of their hand, says Dan Shulman of @AmericanExpress #money2020— ngenuity Journal (@ngenuityjournal) October 8, 2013By 2020, we will have 50 billion connected devices, all with purchasing power. @ericsson exec at #money2020 @retailmag @bsminfo— Jim Roddy (@Jim_Roddy) October 8, 2013Great Discover presentation new focus on Network NOT just PayPal white label rails for rent. #money2020— Thomas Noyes (@noyesclt) October 8, 2013Amazon has 215 million active users, including payment and shipping info and is world's most trusted brand. #money2020— Bank Innovation (@BankInnovation) October 8, 2013Announced @money2020: Tom Taylor, @amazon launches "Login & Pay" for #online #payments! #money2020 #paypal #challenge http://t.co/HRDRiBbOHp— SpecOpsComm (@SpecOpsComm) October 8, 2013Different models, but Amazon has 2 mil sellers doing $24 bil (2012) Square has 4.5 mil doing $15 bil (2013) #money2020— Jim Bruene (@netbanker) October 8, 2013#money2020 @amazonpayments doing what everyone fears/hopes/envisions/wonders what @apple would do in the #payments space ... still waiting— chris fleischer (@ccfleischer) October 8, 2013Amazon captures 10%of GoGo Air's payment volume in 2 months. Wow!! Fantastic adoption and consumer experience. #money2020 @amazonpayments— Thomas Noyes (@noyesclt) October 8, 2013all the announcements coming out of #Money2020 further convince me that payments are the new 5th P of marketing http://t.co/3msJx9JyNv— rshevlin (@rshevlin) October 8, 2013