The Bankwatch

Tracking the consumer evolution of financial services

A great description of transformative payments | David Marcus

This is one of the clearest posts I have seen describing next generation payment experience.  The emphasis on the word experience.  Payments shifted from something that interrupts and makes you line up and wait, to something that simply happens in the background; in particular with the BLE example described in this extract.

Three Trends That Might Transform The Retail Payments Experience | David Marcus President Paypal

For example, we have a pilot running in our on-campus Starbucks that combines Beacon, with an app built for the Samsung Galaxy Gear 2, and Gear Fit devices. Walk into the area covered by the Beacon, your watch notifies you you’ve checked-in, the barista, greets you by name because your photo shows up on the point-of-sale system, and when she rings you up, you get another push notification. Tap on the watch to confirm the payment, and go. This is one of the most transformative payments experience I’ve had. No wallet. The phone never leaves my pocket. And I’m in control.

Written by Colin Henderson

April 18, 2014 at 10:12

Posted in Uncategorized

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