Bango Share Discussion Threads

[alangrifbang] 22/10/2018 16:05

Chimers I don't know what you have posted I haven't bothered to read it ,once again you have driven all the genuine BANGO posters away again,do us all a favour and GET LOST!!!!

[chimers] 22/10/2018 15:42

Bringing together all those involved in a transaction and removing the middlemen.

[chimers] 22/10/2018 15:28

Bango is trying to sell the stick and hoop at a Fortnite/World of Warcraft fair.

Gluk...........

[chimers] 22/10/2018 15:25

Ouchhhhhh!!!

“In the long term, we want to eliminate the need for credit card terminals altogether, something Apple and Android Pay cannot do,” Nurmammedov said. “This is not in the interest of traditional acquirers, as they generate an average of $600 per credit card terminal each two years by leasing out these devices to merchants. We want to eliminate this so the merchants can save on such unnecessary 20th-century equipment.”

[chimers] 22/10/2018 15:21

"merchants have managed to eliminate payment processing fees altogether on the Beam network.”

[chimers] 22/10/2018 15:20

A global payments acceptance platform, Beam, is combining mobile phones and blockchain technology to provide a way of providing that ease-of-use and speed necessary for retail payments. And the company believes the time is right to introduce an alternate mobile payments solution.

“There are examples where adoption has been less slow,” Beam cofounder and CEO Serdar Nurmammedov told me. “In China, 90 percent of consumers use WeChat as payment for offline purchases. Take a place like the UAE, where the phone penetration rate is much higher than average at 228 percent, you’ll find higher rates of mobile payment adoption. In Dubai, for example, we have seen consumers willing to pay using their mobile when incentivized to do so. Over there, merchants have managed to eliminate payment processing fees altogether on the Beam network.”

So why does this need to exist? What’s wrong with the old way of paying for products in-store?

The current retail economy is rife with inefficiencies. According to studies, $4.5 trillion worth of value is extracted from and wasted in the global retail ecosystem by incumbent intermediaries.

Beam’s idea is to change the way we approach mobile payments. Through its platform, customers are rewarded for purchasing everyday products using their phone. For example, Beam was the first app to let users in the United Arab Emirates (UAE) pay for fuel from their cars.

Beam’s technical network now operates in more than 400,000 stores globally with over 5,000 live stores on three continents. Beam has already processed over $250 million in payments for retailers such as Carrefour, Costa Coffee, Aldo, Tommy Hilfiger, and more.

And it works the same as any other mobile payment solution. Beam integrates with point-of-sale (POS) systems to process transactions on behalf of its retailers. Every payment on the Beam platform captures transactional data points, and each party rightfully owns their own data.

“Credit card terminals process card transactions and work with Apple and Android Pay,” Nurmammedov said. “Beam integrates with POS systems natively (directly at the machine level) as well as with the credit card terminals. We also provide apps to merchants to process Beam transactions. Finally, they can also use a web browser to process Beam transactions.”

Beam has plans, however, to remove the POS from the process entirely.

“In the long term, we want to eliminate the need for credit card terminals altogether, something Apple and Android Pay cannot do,” Nurmammedov said. “This is not in the interest of traditional acquirers, as they generate an average of $600 per credit card terminal each two years by leasing out these devices to merchants. We want to eliminate this so the merchants can save on such unnecessary 20th-century equipment.”

Beam is also not limited to NFC for mobile payment processing.

“We are agnostic to the identification method of the customer at the point of sale,” Nurmammedov said. “We can use NFC, Bluetooth, or even QR codes displayed at POS or on customer’s phone. We implement the best-suiting solution given the environment and the territory in which we launch Beam in. Currently, in Australia, Sweden, and UAE, we also use BLE (Bluetooth Low Energy) beacons.”

Beam’s model provides visibility channels of engagement that the traditional retail value chain sometimes has issues with. In effect, consumers are given control of their own data, and the exchange of that data for value provides the retail value chain with real-time access to insights. Using the data captured in payment conversations, tech service providers become incentivized to act on those insights, which, in turn, helps both enterprise brands and distributors.

Beam’s growth relies on providing an incentive to try an alternate payment model.

“We are inviting local partners and other network participants such as issuer apps and POS companies to join and start generating revenues,” Nurmammedov said. “The more that come on board, the better the system becomes for all. In order to accelerate the rate of adoption in all markets where Beam is launched, we will drop the minimum reward contribution amount of 2 percent and offer zero payment processing fees to all merchants on the Beam network. Whilst the global average of 2 percent to 3 percent payment processing fee may look like a low number on its own, when the net payment processing fees are applied over a merchant’s net profit, the fees mount up to 30 percent.”

There’s a long way to go before mobile payments really take hold, regardless of whether that market is driven by the likes of Apple, Google, or Beam, but one thing is for sure — smartphone payment solutions are here to stay.

“Mobile payments will become ubiquitous and cash will be redundant,” Nurmammedov said. “For Beam we are creating a platform to go beyond just payments. Bringing together all those involved in a transaction and removing the middlemen. In this way, the benefits created by every purchase can be passed on to those that made it happen. Through predictive planning, for instance, overproduction can be minimized, waste management can be improved, and a more personalized level of rewards for customers will be available. The social impact will be on a level we haven’t seen before.”

[chimers] 22/10/2018 15:18

hxxps://venturebeat.com/2018/10/22/synthetic-minds-raises-5-5-million-to-build-trust-in-blockchain-code/

[alangrifbang] 20/10/2018 12:35

Thank you for the information simon,

[simplesimon1] 20/10/2018 12:21

Interesting news that Ray Anderson has just returned from Bango Nexus Jakarta – Creating profitable developer and operator partnerships. Jakarta is a hotbed of new emerging commerce that is a nice counterpoint to the more established Chinese sphere of influence. Having ASEAN developers on board could facilitate the accommodation of Bango with companies throughout South East Asia. Engaging with the developers first hand in this dynamic market place on such topics as the new Audiens platform could open doors to a phenomenal amount of new opportunities. Have to admire the insight and vision of the Bango management to carry this forward. Now when they sell clients on the advantages of accepting Bango DCB payments there will be an established base of eager developers ready to see that the new platform is properly implemented and fully exploited. Lets hope that Ray and Anil managed to link up with new business.

[lentjes] 20/10/2018 06:45

Just a reminder why Bango chose to hold their latest Nexus in Jakarta

[smallcapinvestor1] 19/10/2018 22:45

Alangrifbang I think what I am saying is don't let the lack of news flow concern you. The company continues on track with exponential growth and we should be patient, ignore all the nonsense and the noise and let the company continue on their current path. I am sure the patience will be rewarded. We are on the cusp now, because another year of doubling platform spend to £1.5b and the shares won't be sub 200p for sure.

[alangrifbang] 19/10/2018 19:54

Thank you lentjes I will hang on to what you say,

[lentjes] 19/10/2018 19:02

All I would say is that everybody complained last year of very little news flow yet Bango again met and bettered their actual year end EUS forecast.

Bango are the stealth of digital payments

[alangrifbang] 19/10/2018 18:38

Smallcapinvestor ,so what you are saying is BANGO might be doing well but they can't say,or they arnt doing well but they can't say,what an intolerable situation for us shareholders,meanwhile it continues to be marked down,I've been a large investor in Bango for many years and I am Really unhappy now,will just have to grin and bear it!

[sheriffned] 19/10/2018 08:51

Chimers, you seem knowledgeable about the market. You must have made a pile of money over the years?

[smallcapinvestor1] 19/10/2018 07:50

A lot of the discussion here is about news flow. Just remember that bango can only release news when asked to and when dealing with global companies like Google and Amazon they are very restrictive on what they allow bango to say. This has always been the way, but the Share price is very important to bango in terms of commercial relationships and employee remuneration and incentives. Also the schedule of migrations with Google and the Amazon roll out are done entirely on those companies schedules. Bango is ready and waiting to act as soon as they are given the go ahead. There really is nothing they can do to speed it up.

[investcarefully] 19/10/2018 02:17

We finally have intelligent discussion. They’ve cleared the BB of idiots and we are ready for action. The average IQ of postings has gone up 110%, let’s hope the market value of Bango shares goes up likewise.

[simplesimon1] 19/10/2018 01:00

Chimers this is the original thread started in 2012 by hamidahamida
and has been very pleasant without you. The thread you started was terminated for good reason. Go away and don't bother trying to use your aliases. We are fed up with you.

[alangrifbang] 18/10/2018 20:54

You stopped everybody posting on this site and if you come back you will do it again,nobody is net rested in what you have to say go back where you came from with the losers,

[chimers] 18/10/2018 19:15

Oh Chimers has never left this is his thread after all.

[alangrifbang] 18/10/2018 18:58

That's a relief ! I wish you would ring Ray or simon Thompson,you seem to get information nobody else can achieve,unless there is any news soon it will drop and we will get chimers back and nobody wants that,hope you are well alan