WhatsApp, the Facebook-owned messaging service, is in talks with several Indonesian digital payment firms to bring their payment capability into the popular app, as the company seeks to engage with the country’s growing e-commerce scene.
Paytm, the Indian digital payments firm, is putting money behind a new marketing effort and an expanded content offer to help it double its number of monthly active users from the current figure of 140 million by March next year.
More people now have access to mobile devices (96%) than bank accounts (89%), so it is not surprising that established financial institutions are increasingly forming partnerships with mobile payment providers or developing their own services.
Frictionless commerce is on the rise but what remains important for retailers is “to look at what triggers the customer to buy, and how they actually buy it”, said Anke Zeller, vice president of group strategy for payment solutions ...
There is a paradigm shift coming as the retail experience moves from being centred on checking out to checking in, but an industry observer warns of possible privacy issues and discrimination against low-income people.
Smooth mobile user experiences will be important areas of focus for payments providers in 2019 and beyond, with high-performing integrations and partnerships also top of mind for financial services brands.
Payments are becoming increasingly invisible, a development that presents major challenges for established financial service brands as they struggle to keep up with changing banking behaviour and rising customer expectations.
The August issue of Admap puts the spotlight on the future of payments. Sanjib Kalita, from Money20/20 and Guppy, explains key trends in payments, including digital identities, data as a value driver and the importance of brand trust.
Looks at how payments becoming invisible will present unprecedented challenges for the established financial service brands as they struggle to keep up with the changing banking behavior and rising customer expectations.
Facebook’s announcement that it would participate in the formation of the Libra Association and create a new subsidiary called Calibra signaled an intention to invest around payments, but did not convey new efforts around social commerce any time soon, argues GroupM's Brian Wieser.
Carl Bratton, Ann Constantine and Nic Pietersma
Direct Line Group (DLG), a British insurance company, measured the impact of marketing in both the short and long term to provide a holistic view of how brand acquisition and investment influence consumers.