How can you create a frictionless mobile payment experience?

I believe that the endgame is a carefully calibrated mix of both universally accepted and localized options, designed to maximize trust, minimize friction, and preserve profitability and security. For example, while credit and debit cards remain foundational and globally trusted, the emergence of Alternative Payment Methods (APMs) has been revolutionary. Pix in Brazil has not only lowered transaction fees but also democratized instant payments across diverse demographics, Africa's M-Pesa has extended financial inclusivity to underbanked communities. In India, UPI has streamlined real-time transactions, eliminating the need for physical cards. Similarly, China's Alipay offers an integrated services ecosystem beyond payments.

The answer of this question can be considered from a lot of dimensions however the transaction experience and time can be considered the important pillar of course beside the security of the transaction, from the channel dimension we can consider the below : - if we are targeting face to face transactions then contactless payments/ NFC tokenized should be enabled. If we are targeting e-commerce transactions, then tokenized payment depending on the stored payment card is very important for reducing the transaction time and simplifying the checkout process and using an advanced API payment gateway layer is important as well which will enable using a lot of additional value added services as well.

To create a frictionless mobile payment experience in underbanked regions, consider the following: - Understand Users: Tailor the experience to meet the unique needs of underbanked populations. - AI Integration: Use AI for personalization and security. - Engage Experts: Collaborate with fintech professionals. - Security First: Ensure robust security measures. - Mobile-Friendly Design: Optimize for mobile devices. - Offline Options: Allow for offline transactions. - Localization: Adapt to local languages and preferences. - Educational Resources: Provide support and tutorials. - Feedback Loop: Continuously improve based on user input. TOGETHER, let's redefine the future of fintech and drive global financial evolution.

I agree with this and with the other contributions. It’s imperative to research your target audience first and foremost, understand the challenges they face, moreover it’s important to understand as well the country and its financial challenges or opportunities. Some countries for example do not allow large sums or international payments moving outside the country, do the regulations have a cap on daily limits? All these considerations will assist in ensuring a seamless experience for your clients.

Try it for yourself with various different mobile web, be intentional when choosing a payment method and record it down how many steps. Your own experience will help understanding the first step on how a good frictionless payment experience feels like. After all, all of us are the users!

In my experience this is where improvements are needed most. To maximize your success rates and instill trust in clients, reducing the number of steps is key, populating fields automatically, never asking the same information twice, reducing the switch to other apps (such as one time passwords through sms) or enabling ApplePay or Gpay will make the process quicker and more prone to success. More importantly, displaying clear messages on reasons of rejection is something that needs to be clearer as this is the point that causes the most questions between clients and companies.

As a user, It's best to make it simple and fast. The more convenient your payment process is, the better. Look at how tap and go payments are a big success. The payments is made as simple as tapping your card or mobile wallet while the is some complicated authentication and verification processes running behind the scene.

What has been shown is that Tokens are being used more and more. If you have a card that is tokenised you are more likely to use that to make payment easier. For Sweden there is Swish. Swish is Account to Account payments through a digital wallet. It has more steps than card payments but still is one of the preferred payment methods. this is because it is easy. You don't need to remember you card number or bank account. Everything is in the app and connected to your phone number. So it is not always the straight path to less interactions that is the key. It can be how much information you as customer needs to provide.

A simple “straight string dial” using unique generated code on a Feature or Smartphone within a 20 second, transaction “USSD session” defines this simplicity. #C’GateUSSD

I'm not sure how an autofill could be secured, still we need to keep it simple by saving few favourites specific to the user, that may keep the record less vulnerable with authentication to process.

I agree with this submission, my thought is that, to create a frictionless mobile payment experience, focus on simplicity and convenience: 1. Design an intuitive interface and app experience. 2. Simplify registration and use biometric authentication. 3. Allow saved payment info and one-click payments. 4. Offer guest checkout for first-time users. 4. Support multiple payment methods. Provide real-time feedback and address suggestions. 6. Ensure security and error handling. Personalize offers and recommendations. 7. Integrate seamlessly with other systems. 8. Use A/B testing and gather user feedback for continuous improvement.

Count the number of clicks, any redirect lagging between pages, swap keyboard for numbers and text to decrease errors, and tokenisation for a seamless checkout experience

- first , yes you need to comlply with all nessassry regulations for every region or specific local standards after you comply with global standard like PCI in all it's Certification for diffrent types and cases of payment acceptance specially Card acceptance. The comes Test and monitor your payment system regularly and fix any issues or errors that may rise

Optimize the application to ensure fast loading times and smooth transitions between different screens, minimizing waiting times and creating a smooth and uninterrupted payment experience.

Do now overcrowd payment methods in checkout page. Display the most popular or most frequent used payment methods on top of the list. Apply various strategies to nudge users to certain payment methods with high purchase success rate.

It is imperative to not restrict users to a specific payment option/instrument but provide all applicable options such as contact-based, contactless, etc. The research and design processes must prioritize making all relevant payment options available to place the freedom of choice into the hands of the user. This, by extension, means design considerations for device capabilities such as NFC in use cases of "tap-n-go", tap-on-glass; camera in use cases such as QR code scan-to-pay as seen with #Ukheshe solutions; and in recent times Bluetooth as seen with #Vipaso solutions. The freedom to chose the source of funds for payment is golden in the quest to make mobile payments frictionless.

While there are benefits, take into consideration that supporting multiple payment options can create multiplied complexity for your business and teams. For example, would you sacrifice the UXUI when you add on disparate payment options? How much more work does it create for finance teams to reconcile all the channels?

Offer responsive and accessible customer support to address any issues or concerns that users may encounter during the payment process, ensuring a smooth resolution of any issues and enhancing user satisfaction.

Mobile wallet support is key. They are the easiest channels to complete a payment. If you actually consider the payment process a lot of users can be lost in the steps where they enter card details. This can be circumvented through support of apple pay that enables payment with a face scan.

White label integrations through API's i.e. many payment gates give you the option for a widget, separate check out page or a custom check out page. Traditional check out pages may correlate to the "pain of paying". I.e. you are reminded of that dull check out page where you are about to spend. Which may cost users. A custom check out page may eliminate this psychological barrier as you and customize the page, apply your own design / the design of your store. The flow becomes much more seamless and eliminates churn, best example is coupang in Korea :)

Simple and user friendly UI will enhance customer experience. 2F/3F authentication can also be made customer centric, easier and faster using biometric checks. High success rate of payment processing with security will be a necessary factor for seamless mobile payments experience.

A focus on UX is vital for smooth mobile payment experiences. Here are a few ways to leverage user-centric thinking and particularly UX writing in mobile payments: 1) Use clear and concise language: Avoid using jargon and technical terms, and provide clear guidance at every step of the process. This helps users understand the payment process and reduces confusion and errors. 2) Provide clear and concise notifications: Provide clear and concise notifications that keep users informed about the status of their payments. Notifications help users manage payment schedules and avoid missed payments. 3) Provide personalized guidance: Provide personalized guidance based on the user's needs and preferences. This reduces frustration and errors.

Creating a secure mobile payment platform with a streamlined interface holds the key to effortless transactions. By adopting a user-friendly payment system, the process of making purchases becomes not only seamless but also significantly easier. The emphasis on a minimalistic screen interface ensures users can navigate the payment landscape with utmost convenience. However, the true essence of a robust payment platform extends beyond mere transactions. Introducing an analytics interface for spending patterns adds a layer of depth to the user experience. This feature goes beyond the transactional aspect, providing users with valuable insights into their spending habits.

In the realm of payment services, it's common to see designers add captivating animations and illustrations to the payment interface. However, users are often laser-focused on completing the payment quickly, making them less interested in the visual bells and whistles. Understanding this primary goal is crucial. Users typically just want a seamless and efficient payment process, so while creative elements are fun, they shouldn't hinder the core objective. Strike a balance that enhances user experience without sacrificing efficiency!

Commoditised and democratised payment initiatives and solutions is a key driver for success in New Frontiers and emerging economies. Everybody uniqueness and peculiarities is recognised making Financial and Economic Inclusion and easy ride and welcomed development. See on on such initiatives from CoralPay @ www.CoralPay.com

Mobile payments cover bill payments and person to person money transfers. For bill payments the key objective is to to be able to make the mobile payment easy to use and secure, and also to go through without delay, because many of these payments are time sensitive. For money transfers too, speed is of the essence, and chat or live support in case of issues is critical.