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Innovate or Die: Brand Innovation in the Payments Industry
Farhan Ahmad, General Manager of Prepaid and Director of Emerging Payments, Discover Network
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Innovate or Die
“Innovation is not for the faint of heart and takes risk which is outside of the traditional comforts.”
– Geoff Nicholson, 3M Post-It Note Inventor
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What Do These Companies Have in Common?
Named Business Week’s Top 10 Most Innovative Companies for 2010
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The Power of Business Innovation to Create Brands
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Innovate or Die
“Insanity is defined as doing the same thing over and over again and expecting different results.”
- Albert Einstein
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Companies who are doing it differently….
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Payments Evolution
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New Payment Forms Impact Consumer Interactions
New Forms of Marketing
New Forms of Marketing
New Types of Commerce
New Types of Commerce
New Demands of Payments
New Demands of Payments
New Interactions
Where do traditional Payments
Brands fit?
Where do traditional Payments
Brands fit?
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The Perfect Storm for Payments is Brewing
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In Payments, Innovation is Coming From Unexpected Sources
31%Alternative Payment Company
Share of Internet Payments by 2012
$526 BillionExpected Prepaid Load in
US by 2012
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PaymentNetworkPaymentNetwork
Consumer Card Issuing
Bank
Consumer Card Issuing
Bank
Merchant Service Bank
Merchant Service Bank
Consumer/ Buyer
Consumer/ Buyer
Merchant/ Seller
Merchant/ Seller
Roles are Changing and Competition is Increasing
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New Payments Innovation Frontiers
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DEAL WITH IT.
The Rise of New Payments Brands
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Mobile Phones are the Next Frontier
Access
Availability
2 Way Communication
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Mobile Payments: Why Hasn’t Innovation Hit the U.S.?
?
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Mobile Payments: Why Hasn’t Innovation Hit the U.S.?
Inconsistent set of standards
Convenience and security issues
Payments Infrastructure
Value Proposition
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Mobile Payments: Changing the Way We Do Business
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How Will Innovation Affect Payments Brands?
What if every consumer becomes a merchant?
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Which Brands will Innovate?
Online Payments
+ =
===
+
+
+
Social Media Online Games
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Innovate or Die
“Life is 10% what happens to you and 90% how you react to it.”
-Charles Swindoll, American Clergyman
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Innovate or Die: Brand Innovation in the Payments Industry
Presented by: Farhan Ahmad, General Manager of Prepaid and Director of Emerging Payments, Discover Network
Thank You!