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Barclaycard, Canary Wharf, London bPay The new contactless way to pay Monica Carlesso | VP eCommerce - bPay Barclaycard, Canary Wharf, London, Mobile: +44 (0)7900 737471 | [email protected] Respect | Integrity | Service | Excellence | Stewardship Helping people achieve their ambitions – in the right way Agenda . Barclaycard: the ‘Go-To’ brand for Consumer Payments . bPay: at the center of 2 emerging trends . bPay journey . Results . Challenges . What’s next for bPay 2 Barclaycard is on a journey to be Barclays’ ‘Go-To’ brand for consumer payments Consumer cards Corporate cards Acquiring Only UK bank on both Magstripe sides of the payment flow – making and Chip & Pin Barclaycard taking payments branded Traditional Traditional Partner T&E Purchasing In-store Online Phone branded orders Internet Diverse product set Mobile, digital & other payments beyond cards Contactles Consumer s Mobile and wearable loans Mobile phones payment devices Token accepting payments Multiple and evolving New technologies Cloud Purchase Gateway & etc… financing Tokenization Lending is the primary source of revenue for Barclaycard (~70%) 3 Barclaycard is a top 10 consumer payments provider globally Ranked by Value of Consumer Payments Processed in 2013 1 China UnionPay - Credit card £3,291bn 2 First Data - £845bn issuer 3 JPM Chase - £818bn #1 in Europe 4 Amex - £609bn Merchant 5 Vantiv (ex Fifth Third) - £391bn acquirer 6 Bank of America (MBNA) - #2 in Europe 7 £365bn Alipay China - £332bn of UK debit & 8 US Bancorp (Elavon) - £313bn credit card 9 Worldpay - £302bn >40% payments (As of 2014 – post Barclays re-segmentation) 10… Barclaycard- £257bn 21+ PayPal - £115bn Commonwealth Bank Australia - £104bn ANZ Australia - £81bn Westpac Australia - £77bn RBS - £18bn Sources: Annual reports, Nilson Notes: Rankings based on payment volume, excluding debit issuing. Barclaycard latest estimates based on annual accounts & Nilson Report and post- Barclays re-segmentation; Barclaycard is 4 #1 Issuer in Europe based on Nilson ANR data and#2 acquirer in Europe based on Nilson transactions data Barclaycard always at the forefront of innovation 2013 +1m c’less bus 2016 journeys since launch Bespoke offers 2011 launch Barclaycard launches first mobile payments 2007 system First 1995 contactless First internet card 2015 presence bPay launch 1977 C’less limit increases to £30 Founding 2014 1966 member of Visa We enable payment First UK Credit across London Card Transport Network 2012 +1m c’less journeys in PayTag contactless first week sticker 2010 Payment across TfL C’less limit increases buses 1973 from £10 to £15 C’less limit increases to First to offer 1986 £20 women a credit First FS loyalty 1966 card scheme 5 bPay at the centre of two emerging trends in the tech industry – wearables and contactless boom 42% 219% 43% 236% Industry spend comparison YTD August 2014 vs August 2015 6 bPay journey A wearable payment product that makes contactless transactions linked to a pre-paid account 2012 – 2013 2014 2015 Experimental Small scale test & learn Launch of bPay wearables Events Events & partner Open Market implementations Closed loop Open loop Open loop (third party infrastructure) (in house) Free product Free product Paid for product Band tailored to event Larger band Improved devices E-store Retail partners 7 bPay journey: lessons learnt from 2014 bPay’s pilot Stylish & Opportunities to Speed and Comfortable use convenience • Our customers bodies are their • Integrating bPay with other non- • Our customers love bPay for 2 prime real estate – the product payment functionalities such as reasons: needs to look and feel good to be access to football stadiums will worn every day give our customers a stronger use • Speed – both retailers and case, with more places to use the customers love the fact that the • Offering different forms band bPay band saves them time factors, styles and colours will be during a transaction key to catering to differing •TfL is our strongest use case for preferences consumers so far • Convenience – paying is made simple 8 bPay journey: what’s bPay in 2015 Devices and Packaging Digital Experience 9 bPay journey: 4 phased launch 29 June 01 July 06 July 03 August Announce bPay eShop live First devices land Retail & Ingredient www.shop.bpay.co.uk 10 The marketing campaign Educating and inspiring the UK by showing what bPay is, what it can do and how you can use it to ‘pay your way’ 29 June 06 July Announce bPay Spread the word Create desirability Educate and inspire • PR announcement • First product deliveries • Print partnership live • Barclaycard channels • Colleague • Colleague pop up shop launch • PR Influencer activity • NCE Comms announcement • Mates rates launch offer • Social Vlogger campaign • Full digital experience • OOH campaign live • Digital campaign live • Colleague competition • Social channels live 11 Results: a successful integrated marketing campaign Over 1000 mentions of bPay with 97% positive sentiment A reach of 118 Mln since launch across print and online channels Total circulation figures: 500K Shortlist, 400K Stylist and 3.2Mlnr Metro nationwide Retention of test and learn population exceeded by 32% vs target Brand tracking research results: 56% prompted brand awareness and 65% prompted consideration amongst our design target … considering bPay is a new brand in a new payment category! 12 Results: Bloggers and Social Media Objectives: Create desirability and demonstrate bPay in action Deliver the message of Pay Your Way 7,500 tagged social comments with positive sentiment at 85% Unsolicited engagement from new bPayers and curious consumers “I’m actually considering going contactless as it makes city-dwelling that “I love Bpay, saves me taking a wallet out. I never go anywhere without my much easier. I’m always that annoying person that pays by card and has phone so it's great for me. I just want to get a Wristband now. Ten out of Ten to type in the pin haha” – Supal (fashion blogger) off me.” “Love this idea!! As a teenager I 100% think contactless is the way “Used my bPay band earlier, instantly became the coolest person people had forward!” – Adam Kay seen all day” “Felt like such a boss paying for McDonald's with my #bPay contactless payment wristband” 13 Challenges Innovation in the payments industry Competitive landscape Transform customer needs into features Speed up the time to market in order to test and analyse feedback 14 The future of bPay: keep on learning fast The success of bPay has relied on letting the customers shape where we’re going next and we believe this is the way forward, too The Contactless Jacket Maintain culture of test and learn … and enhance our proposition 15 Thank you! 16.
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