Transcript

The Way We Pay

THE WAY WE PAY PRESENTED BY Womply NFC: NOT FOR COMMERCE AJAY BANGA "[Mobile payments] are a five-to-ten year effort. There is a lot of hype around it. We should all just hold our horses." CEO, MASTERCARD on their partnership with Google Wallet → This is the Hype Cycle. It shows how we adopt new technologies. NFC is at the peak of inflated expectations. That means it's at least five years from mass adoption. O, Near Field Communications Wireless Power O Augmented Reality O Private Cloud Computing Q Virtual Assistants 3D Printing o Gamification o Image Recognition o Internet of Things a Gesture Recognition Location-Aware Applications Speech Recognition Social TV 9 Predictive Analytics Mobile Application Stores Virtual Worlds E-Book Readers Idea Management TROUGH OF DISILLUSIONMENT PEAK OF SLOPE OF PLATEAU OF INFLATED EXPECTATIONS ENLIGHTENMENT PRODUCTIVITY ..but don't take our word for it: Americans willing to use their mobile phone as an alternative to paying with a credit card Yes (9%) No (91%) THE POWER OF PLASTIC → Americans love their credit cards - they spend about $1.3 trillion on their cards every year > Individuals spend an average of $12,000 on their credit cards per year. → Visa is the clear leader: 61% of people with a credit card have one. WOMBANK WE COULD ERADICATE 1152 5121 2752 1092 72 03/15 MSTR WOMBAT Source: US Census Bureau Over a billion cards are out there. Even though more people have debit cards than credit cards, credit card holders spend 60% more YEARS OF WORLD HUNGER 1.5 billion $2.2 trillion WITH ONE YEAR OF CREDIT CARD PURCHASES $1.3 trillion 491 million 176 million 181 million CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT Number of Cards Number of Cardholders How Much They Spend Number of People Who Have VISA MASTERCARD DISCOVER AMEX STORE CARD OTHER People in urban areas have an average of 42 million 36 million 20% 68 million 100 million more credit cards than people in rural areas. 108 million 114 million Source: US Census Bureau The illustrious Black Card is the most expensive in the world. For some, credit cards are more than plastic: they're a lifestyle. The Centurion Card from American Express (AKA the Black Card) is the most exclusive and powerful in the world. It's made of solid titanium and available by invitation only. Once you're in, you'lI have access to a treasure trove of benefits like a personal 800 number to reach your 24-hour concierge, who can get you into sold-out restaurants and concerts. $$$ People who earn $100k or more have 18% more credit cards than the average SPENDING MINIMUM INITIATION FEE ANNUAL FEE $250,000 $5,000 $2,500 American. Source: Mintel Where do you fit in the Spending Matrix? - Spend per Card - Number of Cardholders The light colored circles represent the number of people with that card, while the dark circles represent how much is spent on each card. The further to the right a bubble is, the more people spend on their cards. VISA DISCOVER MASTERCARD American Express> cardholders spend the most. The spending bubble is larger than the population bubble. AMERICAN EXPRESS Lower Average Spend per Customer Higher Source: US Census Bureau If you took all the credit cards in the U.S. and laid them end-to-end they'd be: 79,428 miles Distance around the Earth again and again WTF are all these buildings?! Each of these icons represents 100 Empire State Buildings. If you stacked all the credit cards in the United States FLAT, this is how high they would reach. That's about 3,000 buildings total, or 700 miles. Credit cards are everywhere and yours just got better. AUTOMATICALLY LINK OFFERS AND LOYALTY PROGRAMS TO YOUR EXISTING CARDS IDENTIFY, ACQUIRE AND RE THE RIGHT CUSTOMER FC YOUR BUSINESS > GET STARTED AT WOMPLY.COM COPYRIGHT © 2011 WOMPLY, INC. EXPECTATION

The Way We Pay

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Credit cards: what began as a charge card for a small group of NYC restaurants has become the most ubiquitous way to pay for just about anything. This infographic breaks down the power of credit and d...

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