Been a busy week in my personal payments reality but its always step out of the day to day to look around at some of the things happening and being said. One theme that naturally tied itself together nicely is the idea of mobile as the “second screen” to commerce experiences and how natural it is becoming, but also how important the relationships are between the players and the context of the experiences.
Payments is a perfect second screen (i.e. mobile) function and it will always need to melt away into the background going forward in a way that payments are only starting to today. Merchants/Products/Brands will continue to strive to establish deeper relationships with their customers — this has always been true. In this desire to understand customers they will strive to create experiences and collect data so they can deliver more and more value. As a consumer my interactions will become richer, deeper and better once I set my context to the “app” for that brand/product/retailer/service — in other words Mobile will be the way I enhance my experience with my favorite places.
Any wallet that doesn’t put the merchant at the core of the experience will falter in the new reality — the brand/product/service that I’m thinking about when I’m in a commerce context will drive the app and that will drive the desire not to think about payments — it’ll drive the desire to just have the product, experience, service I want. Better yet, the context in the physical world will just be triggered by where I am.
Platforms need to support this (Captial One, Apple, etc.), Merchants will build more apps (online and offline blend away), credit will be offered… and guess what, it’s already happening (Starbucks and beyond). Perhaps the question is one of discovery then… how will that happen — social or search?
Favorite tweets in this narrative thread…
- Merchants want to own relationships… “CardFlight Has Raised $1.6 Million From ff Venture Capital” http://t.co/hWa5skFo7C21:25:55, 2013-10-05
- Good article and great discussion in the comments! Mobile is already Mainstream – including at Starbucks http://t.co/296lL5K12l09:55:55, 2013-10-03
- RT @dgwbirch: Visa, Amex and MC take another step closer to the “something present” transaction http://t.co/o5b8MQ0I4M 18:07:06, 2013-10-01
- RT @mdudas: “Mobile payment providers have an amazing opportunity to act as the future credit platforms” ~ @tek_fin:http://t.co/WFzIp8P9RV01:16:16, 2013-10-05