In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
MasterPass looks like a serious contender in the payment wars that has a few advantages over Apple Pay. A big one is the existing MasterCard payment network. One critical step the company has done is to get the big monster banks including BOA and Citi (NYSE: C) onboard. Notably missing is Chase which is pushing its own Chase Pay solution.
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Android Pay is spreading to more retailers and banks in the United States. Its most popular feature will be a rather old fashioned one – the ability to get cash. According to Mashable, some customers will be able to get cash from Bank of America (NYSE: BAC) ATMs using Android Pay.
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Chase has become the first bank to go live with a mobile payment solution similar to Apple Pay; Chase Pay. The Chase Pay website is now live; although the solution itself is not yet accepted in any retailers. Instead the digital wallet supports a number of lesser online retailers; including Harry & David, and 1-800 Flowers, in what looks suspiciously like a beta test.
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Interestingly enough a number of retailers that will accept Apple Pay in Hong Kong still do not accept it in the USA. Those retailers include: 7-Eleven, Yum Brands subsidiaries; Kentucky Fried Chicken (KFC) and Pizza Hut, and Starbucks. Other Hong Kong retailers that could accept Pay include McDonalds, Pacific Coffee, Senryo, ThreeSixty, the Apple Store, Lane Crawford and Mannings.
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t looks as if Current C is probably dead, but at least two major new payment apps are rising from its ashes. Both Walmart Pay and Chase Pay have the potential to be far larger than Apple Pay, which is bad news for Apple Inc. (NASDAQ: AAPL). Those brands and not Apple Pay could be the future of payment.
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Despite that Synchrony is capable of significant revenue growth. The company reported revenues of $7.988 billion in September 2014 that grew to $9.84 billion in December 2014, $10.29 billion in December 2015 and $10.41 billion in December 2015. Synchrony’s business is still expanding despite all the changes in the credit card industry, which is better than you can say for American Express (NYSE: AXP).
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My take is that Capital One’s cash and revenue will grow for the foreseeable future because it is well placed to take advantage of the trends in modern banking. In particular, it is in a good position to offer such next-generation solutions as payment apps and online loans.
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Dividends are the icing on the cake, not the desert itself. There are plenty of horrendous companies out there that pay great dividends.
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Yet there are some clouds on the horizon because of dismal revenue growth. The real problem facing Bank of America and its competitors is falling revenues. The revenue drops at BOA are not as bad as in past years, but they are still worrying.
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The monster bank’s real secret weapon could be automatic teller machines (ATMs). News reports indicate that Chase is developing a card-less ATM that is supposed to work with digital wallets like Chase Pay. The advantage to this is obvious: It allows digital wallet users to get cash.
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