M2M payments is here to properly disrupt

Words of the moment — millennials and disruption. But when something becomes so broadly used that it becomes a verb, then you can bet your last dollar, it is here for more than a peek. There is a huge proliferation of pay through messaging applications recently and my other favourite thing this year “leveraged partnerships” are combining to take this bull by the horns.

Facebook now accepting PayPal/eBay accepting Facebook Shopbot for payments. Any many other examples of this relatively new but actually tried and tested phenomenon. To make this stick and get it into the hands of the public for validation, the best road is through ecommerce at all levels. This will do for payments, what google did for search. Banks ought to take notice and quick.

Some quick and uneducated (mine) analysis can demonstrate some really simple ways in which pay by message can ignite the follow areas of interest:

#1 Huge cost savings through frictionless returns processing for ecommerce orders. In app/message communications can prevent negative goodwill and win back a bad buyer experience.

#2 Service to sales — For years I struggled to make this reality. Take your traditional customer service teams and use them for conversion, retention and more intimacy with our customer bases — now possible if used right. My favourite potential capitalist use.

#3 Personalised/direct offers based on any variable you want — think about it for a second, you’re logged in to your online account via an app and for the last 2 months you wanted those new boots but wanted to wait until you got paid or it went to 20% off — no longer do you have to watch, search this, or go back to it — hey presto, text me when it hits a mark or it just will — pay in 1 touch? ecommerce utopia — the Passive buyer.

#4 Behavioural marketing — not personalised — behavioural, science based marketing will be a skill/product we all need to familiarise ourselves with.

#5 Remote workforces — the workforce of the future will be different, have different needs and labour mobility should really only be a factor of an internet connection.

All of the above merit discussion in greater depth as stand alone topics. There will be workforce considerations, significant cost savings and finally a chance for a new type of marketing to evolve and really make a name for itself as a truly value added function.

Conversion rates should increase closer maybe to 5%+ as standard rapidly and the depth of analytics should become richer. What we have not yet really seen is how Amazon or Google (maybe my news feed or research is not yet up to date) will utilise this tech to make us even stickier in time. It does make sense now as to why Google wants to perfect its mobile offering and It will be interesting to see how Pixel evolves without a wallet in place — Stripe would be the perfect accompaniment.

I’m excited to see where this new evolution goes, it now creates the validation for looking to change your communication platforms in business and look beyond the norms. If you want to discuss this further, text me $1 to 555–39200000 and we can discuss it further.