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MOBILE PAYMENTS: FIX THIS EXPERIENCE
After almost 20 years of minimal consumer-facing innovation statement credits start rolling in when you check-in to
in the payments vertical, all the recent buzz has centered places. No special phones and special readers at the point
around the notion of mobile payments. Why carry a wallet of sale. No slowing of the check-out process. Just a great
full of credit cards when your phone can do the same job customer experience.
and also incorporate loyalty points, coupons, and send real-
time offers from Macy’s the minute you walk into Which brings us to another very important issue: until all
Bloomingdales? Near Field Communication (NFC) solutions merchants accept mobile payments, mass adoption will
like Isis and Google Wallet and Cloud-based products like never happen. Brands need to take away pain points for
LevelUp are making big bets that consumers agree. merchants, not add to them. Asking a local merchant to
invest in NFC or some other modiﬁcation to their POS just is
So, then, why is that mobile payments technologies have yet not realistic. And until all dry cleaners and coffee shops
to take off? It was almost two years ago that Verizon, T- take mobile payments, customers won’t care.
Mobile, and AT&T announced that they were forming the
joint venture known as Isis. Arguably the most important So, what are mobile payments brands to do? For one,
reason: mobile payments brands have yet to clearly leverage the power of experience and one-to-one
articulate a real value proposition to consumers to drive marketing. Empowering early adopters (like all of the
adoption. What’s the experience consumers are truly hipsters at SXSW) to share their experiences with the
looking for? It’s not convenience; they’re bringing their masses not only helps to make consumers aware but also
wallets with them anyway. breaks down adoption anxiety. People listen to nerds,
especially when they have something interesting to
The real opportunity for mobile payments brands is to make say. Give early adopters a platform to become evangelists
their experience absolutely simple, intuitive, and easy for a for mobile payments technology and watch consumers and
consumer to adopt offers, pay for something, and get credit merchants hop on board.
at their favorite merchant. Asking consumers to take their
phone out, open an app, select a card, and then pay is too
much—especially if you factor in the guy standing in line Doug Wilber is Director of Business Strategy.
behind you at Starbucks who just wants to pay for his
morning latte with cash.
Companies should look to Amex and foursquare. Simply link
your Amex to your foursquare account and the