Killer payment features customers are using today

Meaghan Johnson 11:FS Why am I here?

Meaghan Johnson

Co-founder & Director of Research 11:FS

@digital_magss

@11FSTeam DIGITAL 1% BANKING IS FINISHED ONLY For the next 99% we’ve created this team And that allows us to do a few things…

Build (Re)Build Invest Speak A Product Banks Capital lot! The secret to fintech success:

1. Use truly digital capabilities to ... 2. deliver valuable services to customers… 3. who are underserved or overcharged

@jasonbates WeChat Pay: What can’t you do?

WeChat Pay

• Payment solution integrated inside the social and messaging application of WeChat • Three types of payments: app, offline, official account payment • Up to 30% of WeChat accounts are linked with a WeChat store • WeChat groups – more than 100 people a card must be linked to WeChat account • Tencent charges 0.6% commission on all transactions made through WeChat payment in China, 3% on cross-border tx Vipps: Fueling Norwegian payments

Vipps

• Used by half the Norwegian adult population • 1 million users in first 5 months • Developed by DNB although 40% of its users are non-DNB customers • Social aspect, as users can chat with each other. • In addition to e-commerce and P2P payment solution, customers can pay with Vipps in other apps Bunq: Making payments collaborative

Bunq • Connect feature allows users to share accounts with friends. Full access means friends can: • View account information • Allow them to make payments from the account • Set a budget N26: Partnering for success

N26 + Transferwise • Launched in early 2016. • Transfer Euros into 19 currencies. • “A revolutionary partnership” as the two “share a common vision: to revolutionize finance through innovative technology that puts the consumer first. And now Transferwise is built right into the N26 app” Discover: Convenience and support

Discover

• yet to truly take off in the US • Driven by a number of factors, one being a lack of confidence of the security of the solution • Customers can freeze and remove cards in Apple Pay within the Discover app • Provides a sense of convenience and support that customers have a choice Monese: Contextualising payments

Monese

• Enables immigrants and expats to access core banking services. • Account can be opened in under 3 minutes. • Fully-fledged current account interface, low cost international transfers. Monzo: Force Touch shortcut

Monzo

• Leading banks are starting to use Force Touch as a means for a shortcut to actions such as transfers, balance few, ATM / Branch locator. • Monzo and are taking Force Touch one step further by contextaulising the payment links based on recent and frequent payees. What does the future hold?

@jasonbates Paykey: Putting the tech where the customer is

Paykey

• Offers a secured payment keyboard that can facilitate payments directly from a bank account in social media channels such as Twitter, WhatsApp, We Chat, Facebook etc. • Custom limits can be set up and users can choose their authentication method of choice. • Customers of Sparebank1 and Westpac Australia can currently avail of the keyboard. Paytogether: Group pay 2.0?

Paytogether

• Payment gateway for group bookings or purchases in a single transaction. • At POS, customers add group members using either an email or mobile numbers and assign the respective tickets, Members of the group are sent a unique one-time URL to pay together, which the vendor receives in a single deposit. • Rich CRM for businesses THANK YOU The No1      business podcast on iTunes; downloaded in over 140 countries.

@digital_magss | @11FSTeam & 11FS.co.uk | @FinTechInsiders & FinTechInsider.com