the future of money how mobile payments and the digitization of money will change everything docx

Using our phones as shopping and payment devices is big… … and getting BIGGER... Using our phones as shopping and payment devices is big and getting BIGGER... The probability is high th

Title

DONALD CHESNUT CHIEF EXPERIENCE OFFICER

Business Transformation Through Experience Innovation

WE ARE

IDEA ENGINEERS

PAYMENTS?

WALLETS?

SHOPPING?

Using our phones as shopping and

payment devices is big…

… and getting BIGGER

Using our phones as shopping and payment devices is

big and getting BIGGER

The probability is high that mobile devices become the single most

important customer contact point

for both the Retail and Financial

Services sectors But what’s the real story here?

PAYMENTS?

A real-time, two-way, powerful and flexible,

digitization of money

MONEY FUTURE OF

First, a thought starter…

{video}

mPayments:

10 ways our world will change

1 mPayment solutions don’t simply enable a new

method of payment, they will fundamentally transform

2 Credit cards will undergo

a significant

transformation:

mPayments will redefine

how we pay, how we use

credit, and what a credit

card is

Is it credit? Is there a card?

How do you extend, acquire, receive credit?

3 Customer's relationship to money and commerce

will move from singular moments to an “always-on”

Mobile payments will enable the “check-out” process to occur in-aisle, at home, anywhere

4 mPayments will cause a fundamental change in the

retail experience

5 The arrival of mobile

payments will enable a new generation of real-time,

insight driven, shopping and financial tools

End of the days of consumers being “dumb” at point of sale

Consumer empowerment to the max

6 There are a variety of hurdles for mPayment success, with user adoption being paramount

Overcoming user adoption, interoperability, privacy & security, and government are among

7 mPayments will enable

a whole new class of

merchants – including

new ones

mPayment solutions will enable a whole new

class of merchants: craftsmen, small business

owners, etc

8 The mPayment

landscape is diverse, and

success may come from a wide variety of players

Success may come from across a diverse set of

players, including; tech, merchants, traditional

FS, and government or a combo thereof

9 NFC technology will fuel mobile payment growth

but mobile payment

success is not dependent

upon NFC

It’s not about any specific technology

It’s about the experience of frictionless,

transparent, consumer empowered

commerce

Many roads will lead there

10 Mobile payments

will open up access to

money transactions for

the under-served

Those without bank accounts, or access to

branches Those without smart phones

Financial inclusion

Mobile Payments and the Digitization of Money will Change

Everything…Or will it?

From Theory to Action:

The work of SapientNitro

Q & A

Thanks

Donald Chesnut, dchesnut@sapient.com , @D_Chesnut

Using our phones as shopping and payment devices is

big and getting BIGGER