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I think the Commission want a standard pan-European minimum API. The banks should be working on shaping this already. Will blog.

Stephen - PingIt and paym both run over the same FPS rails.

But back to APIs. How is this "mashup" going to develop if the banks won't open up their APIs? And if they are going to open them up, then shouldn't the Payments Council be working on a common API so that apps can use any customer's bank account?

Actually, I expect they are probably working on this already, especially given the trajectory of the EU consultation on XS2A.

"I predict the arrival of many 'PayM' derived Mobile Mashup apps"

Do you predict that the participating banks will provide a common API for apps to use?

If the government really wanted to help small businesses then they would be getting rid of cheques altogether. This is not about making the payments industry more efficient or competitive, it's about the fact that the only people who vote are old and so the rest of us are going to have to continue to subsidise them. I fully expect Baronet Osborne to announce the return of the halfpenny in the spring statement.

1972? Here I found an article in the New Scientist in 1963 forecasting a cashless economy by 1983

http://www.chyp.com/media/blog-entry/1995-and-all-that

One more point - you do need up to date figures because the growth is so fast. Mobile might have been $500m in the US last year, but it's $640m this year (eMarketer) which is a >25% YoY growth

http://www.moblized.com/blog/5-mobile-payment-trends

I like a good argument. But this isn't one. I think 1 in 10 transactions on mobile after only a couple of years shows that mobile is on an upward curve. You think that it isn't. Let's check back in a year, and if fewer than 1 in 10 transactions at Starbucks is via mobile, I'll buy you a Lobster dinner. If more than 1 in 10 transactions at Starbucks is via mobile, it will be on you.

By the way, their CEO says "The mobile Starbucks app "is giving us a greater speed of service, higher attachment, higher ticket and higher reload" so he sounds enthusiastic.

You have calculated mobile as 4% of revenue, but Mobile Commerce Daily says 10% of revenue comes from mobile, so maybe your figures are from last year?

http://www.mobilecommercedaily.com/starbucks-generates-10pc-of-u-s-revenue-from-mobile

By the way, I think Starbucks should ban cash completely.

http://www.chyp.com/media/blog-entry/a-decash-to-go-please

According to Starbucks' Chief Digital Officer, quoted in the Wall Street Journal, on 26th July 2013 "now more than 10% of its transactions in the U.S. are made with a phone".

I didn't say that the information wasn't sensitive, I said that you could read it from the front of the card so the supposed NFC vulnerability is uninteresting. Yes, I am not a fan of PCI-DSS, but that still doesn't mean I want people to store huge quantities that data without security.

To reduce fraud we must make it either harder to steal the cardholder data (the PCI-DSS expensive route) or make it harder to use the cardholder data (the 2FA route). I favour the latter.

Totally rigged. I'm going to ask for a Judicial Review as Dave should have won hands down!

P.S Well done Barclays.