Mobile Payments

 

Amit Das Business Analytics Leader | Data Scientist Follow

Payments, Wallets, Apply Pay and Customer Experience Oct 21 2014

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Yesterday, I saw this article on TechCrunch TechCrunch.. My mind raced back several years to a project for a payments company that I was part of. Traditiona raditionally, lly, most payments businesses back then (and even now) are heavily oriented then towards merchants, and have had only a few things to offer offer to the consumer –rewards, offers, chargebacks, chargebacks, purchase protection (in small pockets). pockets). However, our client wanted a detailed "consumer "consumer product strategy". Over a period of almost three-four months, the team having worked its way through mountains of data, gazillion research papers, hundreds of interviews, and many discussions with the firm’s subject matter experts, identified 6 dimensions that should define consumer strategy for a payments company (the fact that a payments company was so invested in thinking about a global consumer strategy was a big surprise, opportunity and challenge). The 6 dimensions were –

 

Security (my  (my financial data is secure, and protected behind an army of genies Security guarding a firewall that protects the real palace), Ubiquity (I Ubiquity  (I should be able to use it anywhere, anytime) , Value (is Value  (is there a benefit to using this form of payment), Convenience (I Convenience  (I should not have to move the mountain to make payment so), Control (I Control  (I want to be able to control the usage and the payment methods to my specifications), and Access (it Access  (it should provide me access to my funds). Thus, in addition to many other ideas, we came up with the idea of the “wallet “wallet”. ”. Back then, we were mostly talking about online wallets, while the modern conversation has moved to mobile wallets. We believed it to be the most breakthrough breakthroug h idea anyone could have come up with at that time. Our client, though, thought it was too ambitious! They went ahead with a whole lot of our recommendations, recommend ations, but not the one about wallet.

A few months down the line, another big company launched its online wallet, and it became the first such wallet (at least a noticeable one) to hit the street. We were aghast! We felt bad. But, deep down, we felt good, because it was also a vindication of something the entire team felt strongly about. Switch to now – wallets are popping up everywhere. Payment innovation and mobile wallets are the newest investment rage. In India itself, there are more than 40 wallet licenses awarded by RBI in the last few years, I am told. Paytm, Mobikwik, Freecharge,, Oxigen, Citrus, Airtel Money and many others are already live and Freecharge functional and driving volumes through these wallets. Yet, the day Apple announced its foray into payments through the Apple Watch and Apple Pay, the world took note. Apple Pay, from what I have seen so far, doesn’t do anything significantly different (apart from the Touch ID, I guess) compared to its competition, but it does promise to deliver what Apple has been delivering for a while – an Apple experience. While the world continues to debate about the apparent superiority of Apple against Android/ Samsung/ Windows/ etc. (depending on which plane the debate is being carried out), very few people argue against the clear superiority of Apple when it comes to a consistently superior customer experience. So, how does Apple Pay stack up against the 6 dimensions - It is easy and

 

convenient (see the video here here)) . It is promising security security (despite  (despite the recent leak of celebrity pictures). It is promising ubiquity ubiquity (with  (with tie ups with more than 500 banks and hundreds of merchants). It remains to be seen the value value/offer /offer ecosystem that it will drive with so much information moving through mobile devices. However, However, there is a ot of startup action happening in that space, and there will be some buy-outs for sure. I believe that “real time analytics”, “value based micro-segmentation micro-segmentation of customers”, “social credit underwriting”, “integrated marketing platforms” platforms” as some of Access,, I believe, will the value driving initiatives that will spawn off from here. Access come, simply with the wide-cast onboarding of so many financial institutions and merchants. There has to be a 2-way movement of money for every stakeholder. Google has experimented with physical cards that work with its wallet (through a mastercard tie-up). tie-up). PayPal had launched physical cards in the past. There will be some reservations by regulators and customers alike (but as long as security concerns are addressed, these should be covered). Control Control,, I believe, is an open question. Remembering Remembering Steve Jobs, I don’t think Apple likes its customers to have too much control over their devices. Rather, Apple has traditionally preferred to control the experience a customer has. Their hypotheses has been that letting consumer have too much control often dilutes the customer experience they eventually have. Additionally, we have seen (historically) that Apple products can have a disruptive impact on customer acceptance of new technologies. If wallets become more “everyday in nature” with Apple Pay, Pay, it will not just benefit an entire startup ecosystem around it (just as the Apps ecosystem has done), but also Android and other platforms where there have been many innovations on the payments front.

Exciting days ahead, I say!  (Image credit: worldnewsstand. worldnewsstand.net) net)

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Vladimir Ninov Entrepreneur, Social Media Expert, Sales & Entrepreneur, Marketing Consultant, Follow

Proven Sure Fire Ways to Exploit LinkedIn Marketing Secrets Today Oct 21 2014

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LinkedIn Marketing

Using LinkedIn advertising secrets can sky rocket your company and also end up being the difference between where your company is now and where it will be in the near future. You might have heard the old time analyzed truth, which states "Your Net-Worth is going to be a direct representation of the Network" Industry leaders understand this truth, so they also understand and also recognize the power of LinkedIn Unlike Myspace, or MySpace, LinkedIn is a site for professional networking, networking, and based on latest studies, LinkedIn, has more real "power professionals" with substantial affect in their vocation than any site on the internet. Spending some time off to learn how to correctly implement LinkedIn advertising Tricks into your company, gives you the leading edge that you have to align on your

 

own with the proper network for your company co mpany..

Proven Sure Fire Ways to Exploit LinkedIn Marketing Secrets Today

Employ!! Engage with other people immediately. Get noticed! The earlier the better. Employ You MUST display yourself a leader in your business. Individuals require masters and moreover, they are seeking masters today. Intensify to the plate and also be counted. It will transform the influence, thus your company. Benefit from LinkedIn Groups! Groups! Believe outside the package. The primary industry has niches, and also sub niches within it. Find groups within your main industry, industry, additionally,, within the niches and also sub niches, and enroll in them. Contribute additionally value to the cluster cluster.. Direct these to practical resources (your own personal), location your authority directly in their deal with the intent to help them achieve more of what they want.

 

Show Authority Authority - Just don't sign up, quite sign up and take cost. Take action! Most people join LinkedIn and undergo the "normal" ways that LinkedIn offers to "get the term out", thereby making a presence. This can't be you, get in and obtain creative. Don't wait for potential customers to come to you - go to all of them. LinkedIn is for networking with other people that’s why it's a Social Networking site not a site for spamming , you don`t have to go around posting your affiliate links everywhere. People go LinkedIn to meet other business-minded people and build relationships. Therefore, Therefore, your goal on LinkedIn is to meet other like-minded people and get to know them, build your relationship. LinkedIn is best and the biggest network for business orientated people. Just by thinking about this would make you want to learn everything about this LinkedIn Marketing Strategy. LinkedIn can also be combined with the Article marketing strategy that you can use to generate 30+ leads daily. daily. It’s all about giving quality advice, that means you should write quality Article and submit it to the LinkedIn directory. directory.

Be recommended by your connections

I know you may understand this but when someone you trust recommends someone to you, you are more than likely to believe that person has a lot of value because you respect the person vouching for them isn't it? This is true with getting recommendations recommenda tions on LinkedIn. The more recommendations you have, the more valuable and sought after you become because of all the trusted professionals who have vouched

 

for you. How do you get lots of recommendations? You do this by giving a lot of quality recommendations recommend ations to those that you can vouch for upfront, without asking for anything in return. By doing so, a majority of those people you wrote the recommendation recommend ation for will feel it necessary to give you one in return. Just make sure that you don't recommend any stranger, and provide them for individuals you know, like, and trust. You will see that the more recommendations you give, the more you will receive and this will only help bring in more business and achieve your professional goals.

Conclusion

I believe that this cool and neat strategy that you can start applying right away and start seeing immediate results in your lead count. Most Network Marketers don't have thousands of dollars to spend on paid advertisements, and if don't either then I STRONGLY recommend you to use this simple and effective LinkedIn Marketing Strategy.

Also, sign up for my newsletter by clicking on the "Subscribe "Subscribe"" button and get a special deal from SeederList  , a website SeederList , which assists LinkedIn users to effectively promote their LinkedIn articles on Pulse and to build authority on LinkedIn. Only the first 500 will benefit from the special offer!

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 is the author of  Vladimir Ninov  is " Universal Universal Guide to Crowd Fund  "  Your Business  Bus iness " 

Vladimir has over 8’950 followers and  over 1.4 million Pulse article views on  Linkedin.

Vladimir is also Founder of 

SeederList  [Innovative   [Innovative LinkedIn  Articles Promo Tool]  Easy-East Fund [Crowdfunding, [Crowdfunding, Marketing & Advertising  Consultancy]  and GetFollowers2Day  [Social  [Social Media Solutions boutique for entrepreneurs,

startups, small & medium type of businesses] .

His websites social media followers are over 650'000 spread on Twitter and  Facebook.

 

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Vladimir Ninov 14 posts Follow