barclaycard presentation at london fintech startups #tmufintech
DESCRIPTION
Barclaycard is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed. Barclaycard has always developed close relationships with entrepreneurs and start-ups, partnering with people having fresh ideas that will lead to tomorrow's innovations. We are happy to sponsor and support TechMeetups.TRANSCRIPT
Michael Saunders, Managing Director, Digital Consumer Payments
7th October 2014
Barclaycard has a heritage of innovation, and continues to push the boundaries in payments
Chip & Pin
Online
2000
2010
1966
2013
Contactless pioneers>18m UK contactless Barclaycards & Barclays debit cards>180k enabled terminals across UK
PayTag and PayBand
Barclaycard Ring
>1m mobile payment devices
>1m customers
bFlex flexible, instant credit
Barclaycard Anywhere Mobile
payment acceptance in UK
Mobile & social
Pay your way
Transport for London
contactless payments
bPay wearabledevices
Contactless is growing in the UK
Step change growth - 100x in the last four years and still continuing to
grow
Retailers rolling out nationally – over 300k places to pay via contactless
20,000,000+
TfL journeys so far
Apple PayDrive to mobile
payments
Averaging over 100k transactions per day on TfL
Key market drivers in technology and acceptance
DebitCredit
Bank AccountPrepaidEtc . . .
We’re launching bPay as an open market payment product, beginning initially with wearables
Form
Fact
or
Fun
din
g S
ou
rce
Focus on combinations that can achieve market wide scale
and ubiquity provide incremental
benefits to both merchants and consumers
generate strong returns
Mag StripeChipContactlessQR & Bar CodedOptical recognition
Become increasingly embedded into peoples’ lives
Enable things people wear and carry everyday to pay
Value added shopping services
Wearable's offer strong consumer utility
NFC is used across non payment applications
Cash displacement is here particularly in youth segments*
Why are we launching with wearable's
Wearable's offers a strong consumer proposition allowing us scale adoption prior to e-com launch• Half of young Britons use
credit cards for good costing less than £2
• Three in four 16-24 year olds use cards for payment under £5
• NFC used across transport and closed loop access systems
• Enables access, ID, transport and social posting
* Source Pennies charity survey
• Customers show high levels of satisfaction in Pay band tests
• Strong feedback for use beyond test environments
Initial distribution of wearable's
Access
“I need it to get in”
Affinity
“I love it”
Attributes
“it makes my product better”
Transit Gyms Festivals
Campus
Fashion
Charities Sports Teams
Retail
Fitness Bands
Smart Watches
Biometrics
Customer Experience: Football
What have we learned in 2014
Strong demand New Consumer Base
Media interest
Persistent use
Social engagement Maker movement