mobile wallet user experience
TRANSCRIPT
User Experience – Mobile Wallet Ecosystem
www.novel-ebiz.com
Strategic Global User Experience Architecture and Design Series
An electronic account dominated in a currency, held on a mobile phone that can be used to store, and transfer value.
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 2©
Mobile Wallet DefinitionUser Experience – Mobile Wallet Ecosystem
An electronic account dominated in a currency, held on a mobile phone that can be used to store, and transfer value.
An electronic account dominated in a currency, held on a mobile phone that can be used to store, and transfer value.
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 3©
Mobile Wallet Ecosystem includes all services and infrastructure that enable and support mobile wallets and their use
Mobile Wallet EcosystemUser Experience – Mobile Wallet Ecosystem
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 4©
Mobile Wallet EcosystemUser Experience – Mobile Wallet Ecosystem
Issuing Bank Payment Networks Acquiring Bank
Hardware Providers
Software Providers
MobileCarriers
MerchantsPoint Of Sale Providers
Financial Ecosystem
Mobile Ecosystem
Retail Ecosystem
Buyers
Sellers
A Concept Diagram
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 5©
Mobile Wallet User GroupsUser Experience – Mobile Wallet Ecosystem
Participating in Mobile Wallet transaction processes with identifiable, user needs, Mobile Wallet User Flow includes two distinctly different user groups:– Buyers (End-users/Customers) – Sellers (Merchants/Retailers)
Buyers
Sellers
Two distinctly different User Groups
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 6©
Mobile Wallet ControllersUser Experience – Mobile Wallet Ecosystem
Mobile Wallet User Flow between buyers and sellers includes third-party controllers of The financial ecosystem : Issuing Bank, Payment Networks, Acquiring Bank
Buyers
Sellers
Institutions that control User Flow
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 7©
Mobile Wallet ControllersUser Experience – Mobile Wallet Ecosystem
- Mobile Wallet Connections- Distribution channels- User enrollment and acquisition- Content driving user flow- Value propositions from channels- Ease of use- Data flow
Buyers
Sellers
Other variables that control User Flow
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 8©
Mobile Wallet User ActivationUser Experience – Mobile Wallet Ecosystem
Buyers
Sellers
1. Create Digital Wallet with a provider: MasterCard, Visa, Google etc.2. Activate Mobile Wallet on mobile device by downloading the provider's corresponding application3. Start using mobile device to make payments at any store with near-field communication (NFC) reader at checkout
User Flow – Steps to mobile wallet activation
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 9©
User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
Mobile Wallet Service Providers
Service providers offer :
-Customer relationship management -Persuasion profiling acquisition -Advertisements -Online stores -Couponing -Customer retention programs
Mobile Wallet Service Providers standard list of offerings
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 10©
User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
Merchants and retailers offer:
-Attractive content for buyers - Active mobile payments receiving units - Continual involvement in delivering updated content- Participation in user experience
Mobile Wallet MerchantsMobile Wallet Merchant’s standard list of offerings
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 11©
User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
From Bank offered Mobile Wallets toa variety Mobile Wallets from various organizations offer an open system approach within which multiple merchants and retailers can participate with lucrative value propositions to buyers…
Mobile Wallet Types
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 12©
Mobile Wallet: GoogleUser Experience – Mobile Wallet Ecosystem
Buyers
Sellers
Google Wallet: In-store and Online Shopping
- Uses NFC technology - Prohibits sharing user’s credit card information with merchants - Partner with Bancorp to issue Google virtual prepaid card to make payments- Bancorp assures user safety and security
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 13©
User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
Mobile Wallet: Google
User looks for these symbols at checkout
User uses phone to send paymentGoogle Wallet:
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 14©
Mobile Wallet: PayPalUser Experience – Mobile Wallet Ecosystem
Buyers
Sellers
PayPal: - User activates PayPal account for in-store shopping- User enters mobile phone number at checkout to pay for merchandise - PayPal recognizes user and pays for the purchase. User pays PayPal
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 15©
Mobile Wallet: PayPalUser Experience – Mobile Wallet Ecosystem
Buyers
Sellers
PayPal process flow between Buyers and Sellers:
User views Product list
Checks outAdds to Cart
PayPal says “Thank You”
PayPal rejects transaction
PayPal
A: Successful TransactionB: Failed Transaction
B
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 16©
Mobile Wallet: Square Wallet User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
Square Wallet :- A mobile application that enables payment over a WiFi network - When user gets within 100 meters of a participating merchant, user’s photo appears on the merchant's register, user can then pay by simply identifying name
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 17©
Mobile Wallet: The Level UpUser Experience – Mobile Wallet Ecosystem
Buyers
Sellers
The Level Up :
-A mobile wallet application - For non-NFC devices -The application uses quick response (QR) codes to make in-store payment
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 18©
Mobile Wallet: ISISUser Experience – Mobile Wallet Ecosystem
Buyers
Sellers
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 19©
User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
ISIS:
This Mobile Wallet holds virtual versions of most things existing in user’s physical wallet –-Credit card -Debit Card -Loyalty card -Special offers and savings from merchants
Mobile Wallet: ISIS
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 20©
Mobile Wallet: User driven income User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
Level Up charges 35 cents for every dollar of credit used by customers via Level Up promotions like:
-Customer Acquisition Campaign: Customers are driven to a business with an incentive and for having delivered the new customer Level Up charges a fee
-Loyalty Campaign: Customers are offered rewards for return visit to the store, Level Up makes a percentage of the income generated by the business owner
How do Mobile Wallets make money?
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 21©
User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
- Multiple payment mechanisms and selection of payment type by merchant category
- Notifications posted on discounts, incentives and special offers
- That a mobile wallet may obviate the need to carry physical wallets
Mobile Wallet: User Likes
Likes: Source: Research, conducted by Technology Strategies International and Hotspex for The Mobile Wallet in Canada
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 22©
User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
-Mobile wallet at the point-of-sale — some see it as more time consuming
-Complexity of managing multiple payment instruments and many vendors in the wallet
-- Threat of being without a payment option available if phone loses power and connectivity
Mobile Wallet: User Concerns
Concerns: Source: Research, conducted by Technology Strategies International and Hotspex for The Mobile Wallet in Canada
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 23©
User Experience – Mobile Wallet Ecosystem
Buyers
Sellers
Mobile Wallet: User Concerns
Major Concern: Security
User perceives potential for the mobile wallet to be a source of spam from m-commerce partners and participating mobile merchants
Concerns: Source: Research, conducted by Technology Strategies International and Hotspex for The Mobile Wallet in Canada
Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013 24©
User Experience – Mobile Wallet Ecosystem
Mobile Wallet: A part of M-Commerce
ArchitectureAuthor: Sushmita DuttConsultant , User Experience and Information Architecture for
Web, Mobile and Hybrid Technology Platforms [email protected]
Within predicted growth of M-Commerce, Mobile Wallet has definite commercial potential involving a variety of financial institutions, merchants, retailers and network providers.
The challenge lies in delivering best user experience with assured security.