WE ARE IDEA ENGINEERS

#CXPmpayments

Title

FUTURE OF MONEY
DONALD CHESNUT ALEX SION
CHIEF EXPERIENCE OFFICER

MOBILE PAYMENTS

VICE PRESIDENT, FINANCIAL SERVICES, COE

WE ARE IDEA ENGINEERS

Business Transformation Through Experience Innovation

MOBILE

PAYMENTS?
3

MOBILE
WALLETS?
4

MOBILE

SHOPPING?
5

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 whats the real story here?....

8

MOBILE

PAYMENTS?
9

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

digitization of money.

10

MONEY
11

FUTURE OF

First, a thought starter

12

{video}

13

mPayments: 10 ways our world will change

14

1. mPayment solutions dont simply enable a new method of payment, they will fundamentally transform our relationship with money.
Do you know where your money lives? There will be a paradigm shift in how money works, how people perceive & use it, and the end of physical currency as we know it.
15

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?

16

3. Customer's relationship to money and commerce will move from singular moments to an always-on relationship across space and time.
When does shopping happen? When does purchasing happen? Buying offline, picking up at a store. Checking out an item at the store, paying for it 2 days afterwards
17

4. mPayments will cause a fundamental change in the retail experience.

Mobile payments will enable the check-out process to occur in-aisle, at home, anywhere. As a result, mPayment will challenge and redefine long-standing assumptions of how stores are designed.
18

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.

19

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 the largest obstacles to mobile payments. The ability to pay by phone will not guarantee success.

20

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.

21

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.

22

9. NFC technology will fuel mobile payment growth but mobile payment success is not dependent upon NFC.
Its not about any specific technology. Its about the experience of frictionless, transparent, consumer empowered commerce. Many roads will lead there.

23

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.

24

Mobile Payments and the Digitization of Money will Change EverythingOr will it?

25

From Theory to Action: The work of SapientNitro

26

Q&A
27

Thanks
Donald Chesnut, dchesnut@sapient.com, @D_Chesnut Alex Sion, asion@sapient.com, @ASion1
28

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 whats the real story here?....
29