Mobile Payments Electric Cars and the Keys to Driving Change Re/code

14 Июн 2014 | Author: | Комментарии к записи Mobile Payments Electric Cars and the Keys to Driving Change Re/code отключены
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Mobile Payments, Electric and the Keys to Driving Change

and giants alike are vying to mobile payments take off big This is the way the world wants to go.

But many of the parts are in place, it has yet to Our mobile devices are doing everything but payments. Yet we all know this device can make a more efficient, seamless

So why isn t everyone doing it?

The analogy I ve trying out is the adoption of electric They should be the future efficient, better for the planet, there s even a cool to them. Yet demand hasn t up with the idea.

Could payments learn from the Catch-22 ?

OEMs won’t put eggs in that basket of lack of customer demand.

of demand is due to minimal infrastructure, electric filling stations,

The shared issues between and smartphone payments boil to cost of hardware (the the car), infrastructure (networks and acceptance, filling stations), but most importantly, the catalyst for human behavior. The old ways, credit cards or gas filling are so ingrained that a better proposition has to power the behavioral

Let s look at hardware. In terms of with mobile payments, the or device itself has already mass-market pricing and saturation. of people, even in developing have cellphones, while the of e-car hardware is still out of the of most car buyers.

Now let s look at infrastructure. In the early days of you couldn t go so far out from home due to lack of cell-tower coverage. s the second analogy with cars.

In either case, if the only allows you to get 100 miles what good is it? More infrastructure means more and ultimately more business.

Here, mobile payments is now ahead of e-cars many are in place, with such as American Eagle, Toys R Us, Locker and Macy s accepting Wallet via NFC readers. But that t yet generated widespread usage.

it comes to cars, the infrastructure supports gasoline automobiles has in place for more than 100 so both hardware and infrastructure challenges to electric-car migration, the switch requiring massive of what already exists.

And NFC and PayPal, for example, there are a of mobile payments options in place. Some require no infrastructure, per se there are software-based gaining traction that straight into the point of However, enormous uncertainty what will prevail many merchants from the commitment to invest in software and staff training.

The multiplicity of payment options the market does nothing to clear these murky Many apps are only at one retailer or one coffee chain and want one that works rather than individual that each service one facet of their lives.

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Let s at the sweep of credit card for a moment. Going from cash-only payment straight to cards was a tough one, but a factor was universality of acceptance the of being able to charge up e-car anywhere. But there was a when you had separate cards for s, Saks and Mobil, only at those merchants.

Bank-issued and debit cards bridged divide. And when it comes to payments, what will move the needle is mass the ability to use your phone, one app, everywhere.

Trust in the security and usability of the is important, as well, but ultimately it down to the quality of the experience that will drive toward mobile payments and for to put a stake in the ground and begin acceptance. Take the seamlessness of passes on mobile phones it s an experience for travelers who got so used to held up at every point in the They can now bypass the kiosk or counter and head straight to the

It isn t simply a matter of mobile replacing the card. The mobile experience has to offer more: It has to a problem like waiting for the skipping a line or splitting the in a restaurant. Factors like coupled with built-in and rewards so that separate cards become obsolete, also play into modification.

There s more that mobile payments catch on if the phone is used for part of the process from nearby restaurants, redeeming offers, calculating how to split a and adding a tip, to making the getting a receipt and collecting points.

Unlike the electric car, issues are slowly being in the mobile payment space. As acceptance increases, mobile should happen without This kind of one-stop could turn the tide of trust in seeing the possibility of out of the leather wallet and into a wallet.

Last week, I a Tesla, and it brought home the I m describing. Tesla is doing to what the iPhone did to Nokia it s the game. No longer just a car it s an e-car experience in every from the way you insert the key into the to handling and acceleration, to the way the lights off that makes you wonder why you d to drive anything else.

It can be the same with mobile that Wow! factor will itself drive the to use it.

Tal Zvi Nathanel is the co-founder and U.S. CEO of a checkout app that integrates capabilities with POS terminals, the payment process into a experience. MyCheck is the largest payments company in Israel, and is rolling out into the U.S. and markets. Reach him @MyCheckUS .

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Coda electric car
Coda electric car
Coda electric car
Coda electric car
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