Reprinted from TrustedPeer
Meet the Expert
Founder, Bardown Inc.
- Championed digital asset management before the data boom on consumer devices, and mobile applications before app stores existed; currently playing a leadership role in the mobile payments market.
- Key player in the creation of SoftCard, a joint venture involving AT&T, Verizon Wireless and T-Mobile USA to develop the world's first wallet to span multiple banks, networks, and mobile operators.
- Currently leveraging the real world experience of deploying mobile payment solutions to assist banks, mobile network operators, handset manufacturers, and everyone in between to deploy products that engage their consumers.
- Named by in-Mobia as one of top 6 influencers in wireless industry; by Sports Business Journal as one of top 10 influencers in mobile sports; by Billboard as one of top 10 executives in mobile music.
- Formerly two-time captain of the Cornell varsity hockey team, a second round draft pick in the 1990 NHL draft, and leading scorer and MVP of the Boston Bruins minor league team in 1995-96.
Session Packages from $600
Your Expert Package Includes:
- All 7 Best Practices
- Pre-Call Discovery Process
- One-on-One Call with Expert
- Session Summary Report
- Post-Session Engagement
Founder, Bardown Inc.
Risks & Opportunities
Businesses that do not embrace mobile pay risk the following:
- Missing out on key learnings associated with being an early participant in this business trend, such as understanding consumer pain points regarding usability and technology issues.
- Falling behind competitors in critical areas and the resulting customer churn because competitors offer convenient mobile pay solutions.
- Failure to expand the range of services to consumers and business customers in a rapidly changing digital environment.
- Dealing with the consequences of not being there for your customers as they adopt new ways to pay for retail purchases.
- The opportunity to offer value-added services to customers via a mobile pay app, such as coupons, special in-store offers and information pushes to consumers based on their proximity to the retail outlet, as determined by location data collected on their smartphones.
OpportunitiesBusinesses that embrace mobile pay have the following opportunities:
- Testing and learning about what works well in a mobile pay app. Consumers interact with their payment products in new ways and it's important to be able to capture this information as the market is quickly evolving.
- Understanding how to handle know-your-customer (KYC) checks, and identification and verification (ID&V) to be able to seamlessly activate wallets and cards in ways that successfully manage risk.
- To take market share. In other words, the mobile pay market needs new solutions that are not relevant in a plastic credit card. Early movers have an opportunity to establish new lines of business.
- To create a "brand halo" as a digital innovator, winning the respect and loyalty of consumers.
Mobile Payments: Risks & Opportunities