Our CES Wrap Up

We are convinced that 2015 is going to be the year for the payments industry, and the innovations revealed at last week’s International Consumer Electronics Show (#CES2015) serve as further evidence of an exciting year ahead. While CES is widely known as the stage to debut the most exciting electronic product innovations, we were pleasantly surprised to see how many products were payments oriented. We’ve been following this conference closely here at YapStone and now that it’s all over, we wanted to share our favorite products and ideas to emerge from CES:

“One startup that caught my attention at CES was HyprKey, and their Biometric Payment Gateway. They developed a sticker that can be placed on the back of a smartphone, which safeguards user’s sensitive bank account and credit card information. We saw some massive security breaches in 2014 against some of the largest companies in the world; JP Morgan, Sony, and Apple to name a few. HyperKey’s product has data security as a primary feature, and is a great example of user-centric design. Products like this will be instrumental in the user-adoption of purely digital payment solutions.” – Bryan, Product Associate

“It seems like mobile payments just arrived yesterday and so to already see the emergence of biometric scanners for payment terminals at CES is amazing. Security is of the utmost importance to our industry and it’s interesting to see products like PulseWallet, which requires the user to not only swipe their payment, but additionally verify their identities via hand scan and input their telephone numbers. – Wendy, VP/Risk”  

“This is the year of wearable tech and so it’s pretty cool to see that intersect with the payments industry. One example is the debut of the LAKS Smartwatch, which allows users to make payments from their watch with merchants NFC-enabled point of sale terminals. Since it’s currently only available in countries like Poland and Austria, I’ll be interested to see if this product makes its way over to the United States. “ – Cliff, Marketing Manager

“In this year’s CES conference the Wocket Wallet really stood out to me as a simple yet valuable new product in payment technology. As I am not yet ready to keep all of my life’s information on my phone, I enjoy how the wallet allows you to keep your phone, cards and cash separate while still providing multifactor security through biometric authentication.” – Graeme, Project Intern

“The continued rise of mobile commerce during CES 2015 made a big impression on me.  The introduction of Apple Pay in October brought mobile payments to the forefront, but there are numerous companies that have been innovating in the space for years.  With over 85% of Millennials owning a smartphone and the rapid decline of paper currency as a form of payment, it’ll be interesting to see which players and technologies ‘win’ the space and help shape the direction of mobile commerce and its impact on the way we pay.” – Cameron, Business Development Analyst

“I’m very intrigued by Samsung’s announcement that within 5 years, every piece of hardware they manufacture will be an IoT device (Internet of Things). Given the tremendous scope of their product-line spanning from personal electronics and home appliances to enterprise equipment in industries like healthcare and aerospace; the idea that every device will include the protocols and sensors for connectivity and automation is a game-changer. Even more exciting is Samsung’s commitment to an open system for all developers to create applications for their hardware.”- Carrie, Sr. Product Manager

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