Mobile Payment Panel | AMA Panel
In my role as the Director of Programming of Round Tables for the AMA Toronto Chapter, I am going to be working to put together great events and panels like this one. Please get in touch or Tweet me if there is something you’d like to see, and join the AMA to access its wealth of industry events and resources.
Session: Can Financial Services keep up with the New Digital Ecosystem?
With: Laurie Dillon Schalk (Head of Planning – NA, Evidently), Nicolas Dinh (Mobile Payments Lead, MasterCard Canada), Phil Gene (Sr. Manager, Mobile Payments & Emerging Commerce, PC Financial), Hessie Jones (CEO, ArCompany), David Fidler (Manager, Corporate Finance, KPMG Canada)
“Can I buy you a drink?”
Think about what this could look like in a cashless world if I pull out my mobile to buy us a round of G&Ts.
This session was a neat one because I don’t often get to percolate on mobile payment in my day-to-day client work. Hessie Jones spoke quite a bit about the overall customer experience being impacted by mobile technology (ultimately the race to get to the customer at the right place, right time versus giving them a feeling of privacy infringement).
Two superstars were the gents from MasterCard and President’s Choice Financial who provided insight as colourful as their brightly patterned socks. Nick Dinh spoke further about Hessie’s point on customer experience, saying that customers are really having a change of expectation based on “convenience factor.” And Phil took this a step further by explaining the intersection of issuing/transaction needing to drive true value – not just being available, but rather convenient, to Nick’s point. For example, the difference between seamless, authenticated payment that is device/network agnostic versus having to authenticate in the moment (consider tapping a card instead of logging in to an app).
Phil also helped to explain how these types of tech changes impact cash operating costs for a company like Loblaws, and Nick talked a bit about the research MC is looking in to for biometric “pin verified” security (i.e. facial and voice recognition). Even transit came up with a lively discussion about Octopus/Oyster cards (with an audience cameo from a former CTO of Presto to comment on open and closed loop systems).
The group gave a lot of great examples that we can look in to for more info and inspiration, such as Voda Phone’s M-Pesa in Kenya, Line Pay in Japan, Zoom, and YellowPepper. Check these out if you’re curious about what a future drinks night could look like.