Technology is disrupting the brick and mortar retail market. New lifestyle gadgets - wearables of all kinds - and your mobile phone are forming the next generation of payment. Seamlessly as you check out. Markus Braun shares his expertise in a conversation with mobile guru Ina Fried.
Wirecard's CEO Markus Braun were a speaker at last year's DLD and talked about paying with your smartphone. This year you can pay some drinks at the wildcard booth at DLD only with your wristband. Time for a recap. Where are we now?
2014 was the year of improvement, Braun said. NFC became definitely the first standard technology for mobile. Visa and Mastercard are constantly working on it and it will be mandatory for paying maschines/card readers to offer NFC payment.
With NFC a whole new customer experience is possible. A customer are able to have a much quicker check-out and the merchant will have the ability to understand his customers much better. Maybe he analyze an actual need and tune his offerings to satisfy the customers.
Will Apple Pay be a game changer? It will definitely drive mobile payment and NFC. Europe is perfect for it. A high density of NFC terminals especially in UK, Spain and Poland, followed by France is existing for a new shopping experience. Merchants will be able to offer real-time informations while the customer is in front of a product. But the US needs to improve. The still existing magnatic paying system needs to be change into the Europe standard of chip and pin first.
Is there a market for mobile payment? Is Starbucks loyalty card and app only the beginning and do we need loyalty programs for customers to get used to mobile payment? We will see. It's only the beginning.
But, Ina Fried said at the end: "Apple will win. You won't." - not really satisfying for Wilrecard's CEO.