A is for Apple and APIs in the ABCs of BNPL

 Digital technology and integrations between banks, fintech, and retailers are not just changing the how but when of payments. As a result, the way consumers pay for their purchases includes an increasingly popular option called buy now, pay later (BNPL).

Taking out a loan for a purchase as small as $35, which is basically what BNPL is, would never have been considered in the past. It would have been far too cumbersome for both consumers and lenders. But thanks to the prevalence of application programming interfaces (APIs) in the financial industry, the process is now as easy and seamless as a credit or debit card transaction.

Nearly every major retail store and site now offers customers the option to pay with a BNPL. The players in that space already include the Swedish fintech Klarna, as well as the US-based Sezzle and Affirm. The name behind many store credit cards, Synchrony, also has its offering, and now even bank-branded credit cards like Citi and Chase, as well as Amex, give their customers the option to use BNPL.

The space is heating up even more with Apple’s announcement that it would offer its own BNPL called Apple Pay Later through a subsidiary of the company that has obtained lending licenses.

Use of BNPL has exploded, accounting for $100 billion in retail purchases in 2021, up from $24 billion in 2020, as reported in Fintech Times. The forecast for the market indicates that the trend is here to stay. The global market for BNPL is expected to hit $3.98 trillion by 2030 with a CAGR of over 45%, starting from 2021, according to Allied Market Research.

Read more in The Way We Buy Now: The ABCs of BNPL The title is a nod to Anthony Trollope and my immersion in Victorian lit back in the day.

NFC taps IoT's potential for marketing

Once upon a time, retail stores tried to get our attention with special displays, signs and stickers, but now they can tap into the power of IoT to communicate a lot more than just “New!” or “Special!” The smartphones we carry can convey marketing messages built into the displays or even the product themselves with just a tap.

Thin Film Electronics ASA is a global leader in NFC (near field communication). It creates printed tags, labels, and systems that incorporate memory, sensors, and wireless communication to enable one-to-one digital marketing through just a tap of a smartphone.

Together with GlaxoSmithKline, it deploys Thinfilm's SpeedTap™ tags in interactive “smart” shelves featuring Flonase®  in stores in six Canadian provinces. Customers who tap their NFC-enabled smartphones to the shelves can get information about the product at the moment of decision.

Matt Bright, Senior Director of Product and Technical Marketing, Thinfilm, spoke with us about why the “smart” shelves are just the tip of the iceberg in IoT marketing. We're not only talking about delivering marketing messages, but being able to customize and adapt to them and pick up the trail of the customer journey even beyond the buying decision.

Read more in 

Tying the Physical and Digital in NFC

From your ears to your feet, there are more ways to wear wearables

Wearables were one of the main features at this year’s Consumer Electronics Show (CES). While many conformed to the traditional mold of plastic bracelets, there were some new options that could make them attractive even to those who prefer something more fashionable, versatile, or less encumbered. Now those in the market for wearables can select the sensors that fit their personal style choices.

Research from market research firm Mintel forecasts that this year’s sale of wearables in the US will nearly double, increasing 186 percent over last year. Women make up more than half that market for fitness trackers. About 14 percent of women possess some form of fitness tracker as opposed to 10 percent of men.

GlamFit Ring

That percentage could be even further boosted by the new wearables designed specifically for women in the form of pendants, rings, and bracelets that look like fashionable jewelry. That is the concept behind the fitness, calorie counters, and sleep tracking wearables fromGlamFit Jewelry by Liberty

Read more in 

Wearable Tech Finds Its Style

A smarter phone for use by the visually impaired

For the visually impaired, the empowerment offered by suitably equipped smartphones provides more than convenience -- it represents independence!

Today's smartphones offer the computational power of yesterday's desktop computers, coupled with intuitive, easy-to use interfaces, all small enough to fit in our pockets.

For the visually impaired, however, it's been another story. The visual design of such devices has largely rendered them useless to those who can't see. Taking up the challenge of making mobile devices useful for the vision impaired, Project Ray has launched the "world's only multi-purpose assistive tools with integrated Internet services."

Read more in

Smartphones for the Blind

Data and the Deep

Google Maps Street Views have been used to showcase countries and art museums around the world in the Google Art Project. The data gathered from camera captures around the globe contributes to the Google Earth project, which allows people to view "any location in the world," including the sky, the moon, and Mars. It also offers views of the ocean, on both Google Earth and its Wonders of the World Project, through its partnership with The Catlin Seaview Survey. Read more at 

Data & the Deep Blue Sea

Big data, analytics, and insight into health

Mobile phones coupled with apps make it possible for people to hold the key to their own health information in their hands at all times. There are major ramifications for this possibility.

  Healthcare Analysis: Doctor vs. Device explores the position that doctors are becoming obsolete, replaced by more timely feedback from monitoring devices.

IFighting Heart Disease With Big Data  looks at the Health eHeart plan to collect health data of a million people over ten years in an effort to learn more about heart disease, the leading cause of death in America.  

Smartphone signals for retail analytics

Shopping online offers customers convenience and price transparency, but it offers retailers even more. As Amazon has demonstrated in its successful model, the information it derives from its customer behavior online gives it insight that it uses to tailor its marketing to the individual. As your online browsing tracks, not only what you buy, but what you considered buying, the retailer gets to learn a lot more about you than the person who rings up your purchase at a store. How can a bricks-and-mortar establishment compete with that kind of analytic edge?

 Read more in In-Store Customer Analytics Get Digital Twist

That's big data entertainment!

In the past, the device held by someone watching television was usually a remote control. In the future, it is just as likely to be a mobile device. Starting next fall, television ratings will be measured in tweets as well as Nielsen numbers as social conversations are analyzed to calculate the reach of a program. Nielsen and Twitter announced the new form rating last month, but their partnership has been in the works for over a year. 

Snoopy was prophetic. 3-D movies have made a comeback. Consequently, movies today pack a lot more data per frame. But big data is also involved in the trend toward data streaming that is displacing discs and in the data on what people want to watch. 

Big data drives today’s movie industry, both in terms of the amount of data packed into each frame you see at theaters and in terms of video streaming online.  It’s what delivers 3-D effects in the theater and personalized recommendations to Netflix viewers.  And very big numbers ride on both.

In the past few years, 3-D movies have staged a comeback on a scale much greater than their  brief heyday in the 1950s. Adding in the 3-D effect adds "anywhere from 100% to 200% more data per frame," according to Jeff Denworth, vice president of marketing for DataDirect Networks (DDN). Denworth attributes the proliferation of present-day 3-D films to the huge success James Cameron had with the 3-D film "Avatar" in 2009, which packed a petabyte of data. 

"Avatar" cost about $237 million to produce, but it brought in more than ten times that amount. It earned the distinction of   IMDB identifies it as "the highest-grossing film of all time."  By the beginning of 2010, it had taken in $2,779,404,183.  A rash of 3-D films followed this success, and many did very well. According to iSuppli Market Intelligence (owned by IHS)  in 2011 3-D films brought in $7 billion at the box-office, 16 percent more than the previous year.

 The full figures for 2012 are not yet in, though they will likely be higher as the number of 3-D screens have gone up from about 9,000 in "2009 to 43,000 in by the third quarter" of 2012. One of the biggest draws of the year, Marvel’s 3D superhero flick, "The Avengers," grossed  $1,511,757,910 in 2012.  As 3-D has grown so common at the theater, movie-makers have to point to something else to distinguish their offering.

 "The Hobbit: An Unexpected Journey" had to do 3-D one better with its "brand new format High Frame Rate 3D (HFR 3D)." Instead of the 24 frames per second, which is the movie standard, it packs in 48. The advantage to the viewer, it claims, is that the greater number offers an experience "closer to what the human eye actually sees." Perhaps so, but quite a number of viewers were less than thrilled by the effect. Nevertheless, by December 29, 2012, "The Hobbit" had already taken in $600,508,000, according to IMDB figures.  

Big data is also the key to watching movies on the small screen. Instead of picking up a disc when they buy or rent a movie, people now can just have it come right to them. As Dan Cryan, senior principal analyst at HIS  observed, in 2012 Americans made  "a historic switch to Internet-based consumption, setting the stage for a worldwide migration from physical to online." 

 Estimates of  online movie payments for the US in 2012 are “3.4 billion views or transactions, up from 1.4 billion in 2011.  This form of video streaming is dominated by Netflix in the US, where it makes up "33% of peak period downstream traffic"  Amazon, Hulu, and HBO Go follow far behind at 1.8%, 1.5%, and .5% respectively.  It intends to keep its lead with the help of big data.

Netflix was the subject of a WSJ blog on using big data to improve streaming video.  Though Netflix still offers to mail out the DVDs people select for rental, more customers now opt for streaming.  In the interest of improving efficiency on that end, Netflix transferred its holdings to Amazon’s cloud. It also started using Hadoop, which enables it "to run massive data analyses, such as graphing traffic patterns for every type of device across multiple markets." That helps plan for improved data transmission and better understanding of the customer.

In addition to using big data solutions for delivery of content, Netflix applies algorithms to predict what their customers would likely want to watch next.  This type of data mining technology makes Netflix confident that it can handle hosting original content. In fact, it bet more than  $100 million on it; that’s the reported sum paid for the rights to two seasons of House of Cards, one of several original content series it plans on streaming. 

 As Netflix’s Chief Communications Officer, Jonathan Friedland, says, "We know what people watch on Netflix and we’re able with a high degree of confidence to understand how big a likely audience is for a given show based on people’s viewing habits." 

So what do you think? Is it possible to guarantee a hit with big data?