EP041 - Digital Payments Deep Dive
Key considerations when looking at Digital Payment Options:
Ability to support all the payment types your customers want to use (brands of cards, store cards, debit, ACH) Size of vendors current user base and overlap with your customer base (will you be accessing an installed base of users from your vendor, or will you be onboarding your customers to the vendors platform). Ability to integrate digital receipts and post purchase experience Ability to integrate coupons, offers, promotions, and loyalty programs
In Browser
In-App
In-Store
Device
Coming (limited)
Yes
Yes (NFC)
Yes
Yes
Yes (NFC)
No
Yes
Yes (NFC)
Bank
Yes
Yes
Yes (Camera in POS)
Retailer
Yes (other product)
Yes
Yes (Camera in POS)
Yes
Yes
Only in Amazon Book store (Camera in both POS and phone)
Yes (other product)
Yes
Yes (Camera in phone)
Unknown
Yes
Yes (Camera in POS)
Other
Yes
Yes
Limited
Yes
Yes
Yes (other product)
Yes
Yes
Yes (other product)
Note: Jason incorrectly referred to Merchant Customer Exchange ("MCX"), the joint retail consortium creating it's own payment method, as "WMX". They have canceled their plans to launch their own mobile payment system and have reduced their staff, but they are still operating and pursuing other partnerships.
Google Handsfree - Payment pilot in San Francisco Bay Area, currently a separate effort from Android Pay
Checkout the @retailgeek instagram feed for a library of images showing the (confused) state of chip & signature in the US.
Money 2020 Tradeshow - October 23-26th in Las Vegas
PYMNTS.com website - Great source for payment industry news
Disclosure: Samsung provided the Galaxy S7 Edge smartphone that was used to test Samsung Pay and Android Pay.
This episode is sponsored by the National Retail Federation. The Jason and Scot show will be live podcasting at the NRF/shop.org digital summit 2016 which is in Dallas September 26-28th this year. We have a custom discount code for our listeners. The code is JASON&SCOT, you will get a 10% discount on the full conference fee. Visit retailsdigitalsummit.nrf.com to enter the code when you register for the show and we’ll see you there!
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Episode 41 of the Jason & Scot show was recorded on Tuesday, August 17th, 2016.
Join your hosts Jason "Retailgeek" Goldberg, SVP Commerce & Content at Razorfish, and Scot Wingo, Founder and Executive Chairman of Channel Advisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.
