And since we’re on the topic of pugilism (a favorite SAT word), Nick has graciously offered to go 4 rounds…err 4 questions.
How many rounds will Samsung and Apple go? Will we get to the score cards?
Good question and a little early to tell. Looks like round one is already to Apple, given the level of buzz they have generated with the iPhone 6 and Apple Watch, both of which you just know that fanbois will be whipping out whenever they can to impress baristas around the country. Samsung’s unforeseen left hook comes in the form of retroactivity with existing POS terminals, giving them the edge in round two, but the fight may well finally go to Apple if Samsung doesn’t build out their user base and is ultimately trumped by Google Wallet. Apple and Google team up and Samsung retires to their default position of making devices, not ecosystems.
Is EMV bringing a knife to a gun fight with mobile?
EMV in itself would be like bringing a spoon to a gunfight, but the fact that new EMV terminals have NFC capabilities keeps EMV and, by association, card networks and issuers at the core of mobile payments. At least for a few years…
Who’d win in a fintech fight? Millennials or Boomers?
Psshhh. Millennials hands down. These kids are all over Fintech – look at their adoption of Venmo, GPR cards, use of social payments. No contest. Boomers still think EMV is a record label.
Who are the Apollo Creed, Rocky and Drago of payments respectively?
Apollo Creed would be the mag stripe card—a stalwart incumbent in the payments industry; a respected and ageing champion. Rocky would be EMV—a feisty underdog that eventually overcomes his older rival after a protracted fight. Mobile payments would be Ivan Drago, mercilessly killing off the mag stripe and eventually leaving EMV brain damaged and shouting “Adrian” for no apparent reason.