There’s no denying that driving mobile payment volume is important to Apple. But there is another critical success metric for Apple Pay 1.0.
The cost of driving adoption and use of MCX’s mobile wallet–recently named CurrentC–will offset any reduction in interchange fees the merchants realized. My take:MCX’s mobile wallet is doomed to fail.
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…
GoBank’s recent results suggest that the potential of the Debanked is real, and that there are consumers who are truly giving up checking accounts as their primary financial account. Not because they have to, not because they’re under-served, under-class consumers. But because they want to.
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.
A recent survey conducted by idRADAR asked consumers: What concerns you more, data breaches or government listening to your private phone or email conversations? I can’t believe how consumers responded.
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.