Banks and Large Digital Wallets Providers have a vested interest in embedding Mobile Payment Services into their existing Mobile App. Mobile Payments will drastically increasing the use of the mobile app. About 2 billion people are currently using mobile to pay at stores, in-app on in-web. Optical QR and NFC turned smartphones convenient payment tools. The reservoir of growth is still huge today, and the opportunity for Banks and Wallet providers to put their brand onto Mobile Payment is a no brainer. Local markets needs such as credit/debit selection or instalments can be addressed by local brands, and bring Mobile Payment to additional users.
When doing so, we see 6 technical and User Experience challenges that they must consider to be successful. From Security considerations to the ability to reach all its customers, Banks need to capitalize on Smartphones resources and complement those with necessary technology to deliver a secure, seamless and enjoyable experience. Customers want fast onboarding on their existing devices, they want payment to be simple, secure and rewarding. Find out more about those 6 key issues that need to be well considered to succeed in Mobile Payment in the following White Paper: