How Mobile Reinvents Electronic Payment

On the occasion of the Mobile Marketing Forum, held on December 1st in Paris, the Mobile Marketing Association in France brought together Christophe Van Cauwenberghe of Paylib, Francis Barel of Paypal and Cyril Chiche of Lydia to discuss the latest innovations in payments Interpersonal, m-commerce or now point-of-sale payment.

Six months after the launch in France of Apple Pay and as initiatives are multiplying in the sector of FinTech. Mobile Marketing Association France decided to organize a round table on Mobile Payment, on the occasion of its Mobile Marketing Forum held in Paris on 1 December.

This table brought together, on the one hand, Christophe Van Cauwenberghe, Head of Innovation Payments at Société Générale, who came to talk about the Paylib solution with 600,000 users in France. Francis Barel, Development Director of Paypal France, one of the Oldest “Fintech” with 192 million users worldwide and finally Cyril Chiche, founder and CEO of Lydia, a young French start-up of payments but already boasting more than 500,000 users in Europe.

Rewarding hundreds of thousands, Sometimes hundreds of millions of users, are these solutions able to replace interpersonal payments in cash and establish a “cashless” company? “Cash is very expensive for banks and merchants and the company cashless is starting to become a reality in the Nordic countries.

Pending the arrival of the instant payment in the banking world by 2020, Paylib will propose in 2017 a first P2P payment solution open to our users and their loved ones, “said Christophe Van Cauwenberghe of Paylib.” P2P is Paypal’s historic business that allowed, in the late 1990s, to pay ” Sending money via infra-red with a Palm Pilot. We have relaunched this activity by introducing free interpersonal payments within the European Union but I doubt that this will make disappear the cash, which is still widely used in countries Mediterranean countries and in North Africa, “added Francis Barel of Paypal.”

The end of species will be with the new generation Z, which is that of collaborative commerce and access rather But it will be necessary to provide them with suitable interfaces so that they can exchange money via Messenger, iMessage or Siri, providing them with a simple and secure customer experience “Cyril Chiche, from Lydia. On mobile, it is sometimes complicated to reconcile the objectives of security, with that simplicity of interfaces.

And all the speakers pointed out the difficulty for mobile users, to enter the 16 numbers of a bank card, possibly coupled with the 3DSecure system of SMS authentication. “The bank card was not thought for E-commerce And its use developed only because there was no alternative, but our aim is to eliminate the entry of the credit card number or the IBAN so that there is no longer any And we will leave it to our banking partners to choose the best validation solution, by code or by biometrics.

In order to offer the most secure solution to their customers “said Christophe Van Cauwenberghe de Paylib: “Our business is one of trust and we must not compromise between safety and ergonomics, we start with security brick and then work hard with designers and Ergonomics to suppress “Said Cyril Chiche of Lydia.” Based on the 5 billion transactions of our platform, we decided to offer the 1touch technology, which pushes the security invisibly.

If the consumer decides it, it switches to the “zero factor authentication” since it has only to authenticate once and then to be recognized by the other merchants. We are also working to simplify the lives of sellers, making sure that an email address is sufficient to receive a payment. “Francis Barel of Paypal added.

The first interest of a wallet is often to offer a cashier solution to merchants who were not necessarily accepted by the banking system, but once equipped, the merchant will look at the cost of the solution, Security and of course the conversion rates. On average, mobile conversion rates are 10 times lower than those observed on desktop and our solution, fortunately, offers much better performance, which becomes critical when we know that more than half of the audience is now on mobile, “said Francis Barel of Paypal.” We do not notice any significant difference between desktop conversion rates and mobile conversion rates.

A very fluid ergonomics, very competitive costs and above all a guarantee of payment, “said Christophe Van Cauwenberghe of Paylib.” The question of the conversion rates is linked UX and merchants must literally stop to annoy their customers with users who are true course punishments. Now, everyone wants to copy Starbucks with an integrated wallet application. But we must simplify the contrary these courses offer a wallet and connect as offers facebook connect. “Added Cyril Chiche, Lydia.

Adaptées of interpersonal payments or distance selling, these mobile payment solutions are also able to accompany consumers in traditional outlets as alternatives to bank cards, like the apple pay solution, launched last summer in France.

“NFC cards and NFC smartphones will certainly coexist, Apple has opted for a closed NFC component, which prevents us from working on iOS, but we will very soon launch our solution on Android – which still represents more than 80 % Of the fleet of smartphones – which will allow our customers to benefit from a single solution, for their interpersonal payments, VAD payments, and point-of-sale payments, “says Christophe Van Cauwenberghe of Paylib.

“We must clearly engage in commonality by offering the consumer a single payment solution, capable of operating online or offline, regardless of his hardware or software. It is a bit like the toll-barriers at highway barriers, the consumer will favor a fast payment and with a minimum of frictions, “adds Cyril Chiche of Lydia.

“We have to reduce barriers on customer routes and we have to be neutral on hardware, software or consumer banking, but for us, the NFC mobile does not offer a big added value on the NFC. To have to wait in line and to present something to the merchant when we could be identified by the merchant and scan the product ourselves. For us, the best example is probably Uber, which literally makes the payment disappear since everything is Uber also works with our subsidiary Braintree, specializing in B2B payment, which really revolutionizes the customer experience in the physical world. “Complete Francis Barel of Paypal.

Interpersonal payment, M-commerce of physical or digital products, point-of-sale payment without contact or even “without payment”, it is understood that the hour is at disruption in the sector of FinTech. Will these new opportunities benefit traditional banking players, American Internet giants or start-ups? Difficult to say but in any case, it is on mobile that is now the innovation.

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