Download - Mobile wallet user experience

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




Mobile Wallet Ecosystem includes all services and infrastructure that enable and support mobile wallets and their use

Mobile Wallet EcosystemUser Experience – Mobile Wallet Ecosystem


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


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


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


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


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



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



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



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


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



Buyers

Sellers

Mobile Wallet: Google

User looks for these symbols at checkout

User uses phone to send paymentGoogle Wallet:


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


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


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


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


Mobile Wallet: ISISUser Experience – Mobile Wallet Ecosystem

Buyers

Sellers



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


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?



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



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



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



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.

mailto:[email protected]

Download - Mobile wallet user experience

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