mobile wallet user experience

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User Experience Mobile Wallet Ecosystemwww.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

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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

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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

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Mobile Wallet EcosystemUser Experience Mobile Wallet Ecosystem

Issuing BankPayment NetworksAcquiring BankHardware ProvidersSoftware ProvidersMobileCarriersMerchantsPoint Of Sale Providers Financial Ecosystem Mobile Ecosystem Retail Ecosystem

Buyers Sellers

A Concept Diagram

Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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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

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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

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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

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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

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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

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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 Merchants standard list of offerings

Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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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

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Mobile Wallet: GoogleUser Experience Mobile Wallet Ecosystem

Buyers Sellers

Google Wallet: In-store and Online Shopping Uses NFC technology Prohibits sharing users 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

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User Experience Mobile Wallet Ecosystem

Buyers Sellers

Mobile Wallet: Google

User looks for these symbols at checkoutUser uses phone to send paymentGoogle Wallet:

Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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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

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Mobile Wallet: PayPalUser Experience Mobile Wallet Ecosystem

Buyers Sellers

PayPal process flow between Buyers and Sellers:User views

Product list Checks outAdds to CartPayPal says Thank You

PayPal rejects transaction

PayPalA: Successful TransactionB: Failed TransactionB

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Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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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, users photo appears on the merchant's register, user can then pay by simply identifying name

Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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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

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Mobile Wallet: ISISUser Experience Mobile Wallet Ecosystem

Buyers Sellers

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Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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User Experience Mobile Wallet Ecosystem

Buyers Sellers

ISIS: This Mobile Wallet holds virtual versions of most things existing in users 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

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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 ownerHow do Mobile Wallets make money?

Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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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 LikesLikes: Source: Research, conducted by Technology Strategies International and Hotspex for The Mobile Wallet in Canada

Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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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 connectivityMobile Wallet: User ConcernsConcerns: Source: Research, conducted by Technology Strategies International and Hotspex for The Mobile Wallet in Canada

Author: Sushmita Dutt, Novel-eBiz Presentation: June 10, 2013

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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 merchantsConcerns: Source: R