Mobile Payments: Who is winning the race to a better user experience?

Emma Scott

A future where you pay with your face, fingerprint, or through social media is not as far away as it seems. In fact, the rapid growth of smartphone ownership is propelling a move towards a cashless economy. The mobile payment industry is forced to accelerate with the customer demand for speed, removal of queues, improved security, and better tools. In collaboration with Accenture Interactive, Fjord has just released a new piece for Accenture Interactive’s Point of View Series on mobile payments and the race towards a better user experience.

The piece highlights the fact that individuals are “paying” like never before. Every day, billions of consumers around the world pay for something either in person or electronically — whether it’s travel, food, entertainment, clothing, healthcare, insurance, or more. The aggregate of these payments reflects a huge amount of time and attention that people could be saving.

As we see more experimentation with simplified payment options, banks and other financial services companies are becoming more aware that they must deliver highly compelling user experiences. To do so, service providers are transforming payment into a faster and more secure process and offering support through new tools to help customers better understand their spending patterns.

Customers are not the only ones benefiting from the new technology. Merchants are no longer bound by payment methods that have restricted their customer base and controlled their sales environment. Now anyone can be a credit card merchant, anywhere, with services such as Square, iZettle, and SumUp, which allow customers to pay with their mobile phones.

Banks will also be key players in evolving mobile payment. Expect more brands to follow pioneering approaches to mobile banking that offer financial assistance in your pocket. One example includes Fjord’s work with Turkish bank, Garanti, on their mobile service, iGaranti, which offers customers a single point of access to 23 different apps covering a diverse range of services such as mobile wallet, savings, and loans.

The transition to a cashless economy is coming, but the success of mobile payments will be influenced by the experience that they deliver.

Read the full piece from Accenture Interactive’s Point of View Series here.


Emma Scott

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