Electronic Wallets
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The document discusses the growing mobile payment market, which is estimated to be worth $617 billion by 2016. It outlines several major players in the industry like Visa, Google Wallet, and Isis, and notes the common near-field communication technology needed for competition. The mobile payment market is targeting early adopters between ages 20-44 in technologically advanced areas. Issues around security, privacy laws, and promoting adoption to young consumers are also covered.
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Electronic Wallets
- 1. Digital Trends: Electronic Wallets Nicci Flores, Elizabeth Mickle, Morry Mitrani, Misha Murr
- 3. Reasons to use • Convenience • Security
- 5. Currently Industry Leaders Lurkers
- 6. Competitors • By 2016, the mobile payment market is estimated to be worth $617 billion • Products within mobile payment market: o Visa: V.me o Google + Sprint: Google Wallet o Verizon + TMobile +AT&T: Isis o Square: Square Register o Wal-Mart + Target: MCX (merchant customer exchange) • Common technology needed for fair competition
- 7. Audience • Ages 20 to 44 are most interested in mobile payment market • Early Adopters, tech-savvy • Technologically advanced markets like Austin and New York
- 8. Security/Privacy Laws • Consumer bill of rights: advocating self-regulation as opposed to strict law • Do-not-track mechanism • Skepticism in stifling innovation
- 9. Promotion Mix • Promoting everyday use to young, tech-savvy consumers • Isis Marketing Mix: o Billboards o Bus advertisements o TV commercials • Most effective right now: trade shows and tech festivals
- 10. Management Implications • Security • Convenience • Privacy