We’re going to survey like it’s 1999. According to an article published on CBS News‘ website: “In a poll conducted for the ID security firm Intercede, 48% of U.S. consumers surveyed said they would never use bill payment apps, and 44% said they would never use mobile banking services. One in five said they did…
Making the payment is not the part of the customer experience that consumers want a digital wallet (whatever that might be) to improve. The mobile moments of opportunity–to improve the customer experience, to add new levels of convenience to the customer experience, to help consumers make better/smarter decisions about how they manage and spend their money–occur before and after the payment.
If you have an impulse purchase problem, the Amazon Fire Phone is not the phone for you. If you need help managing your financial life, don’t think that Amazon–through it’s amazing ability to gather, store, analyze, and deploy data–is going to help you anytime soon. The Fire Phone presents a threat and two opportunities to banks.
A well-known research firm recently claimed that within two years, 25% of the top 50 global banks may launch app stores to enhance customer service and make innovative banking applications easier for customers to find, and that the practice would “snowball” to other FIs. I disagree–read why.
Exactly how digital (or not) are banks? Urban Airship released the results of a study that might help provide some answers. UA’s findings suggest that, relative to other industries, financial services companies might not be as backwards as some folks want to make them out to be.
Selling out to a big bank for $117 million doesn’t exactly strike me as qualifying as a banking industry disruptor. BBVA, however, was not simply paying ~$1200 per customer to acquire Simple’s customers. BBVA paid for a brand that it would need years to build itself.
Device shouldn’t be the only factor determining what constitutes a mobile payment. Location matters. As long as the numbers being reported include home-based, web-based purchases, I remain skeptical that mobile payment statistics really capture the shift in behavior.