Last week, our fearless leader, Chris Teso, ventured from our home in Portland, Or to the beautiful, revitalized community of Kansas City. When he wasn’t enjoying pit-BBQ and watching the Home-Run Derby/All-Star Game, he was speaking at The Future of Mobile Payments conference with Ben Milne from DWOLLA and Barb Pacheco, SVP of the Federal Reserve Bank of KC.
The overarching theme of mobile payments at the conference was SIMPLICITY. We’ve all become accustomed to long, drawn-out payment processes- Sign up, enter shipping information, input payment information, double check purchase accuracy, submit.
It’s one of our biggest goals to eliminate all of that friction. If in person, paying via cash is one-step- hand cash to representative- but the internet, until this point, hasn’t been able to accomplish any sort of replication.
Because we’ve become so accustomed to ineffective, time-consuming check-out processes, this payments paradigm is going to require a re-education and shift in our current behavior. Whether we like it or not payments are changing and will continue to change. Making it easier for you to transact with the brands you love, the customers you rely on and the friends with which you spend quality time (and cash).
Here’s the video of their discussion- it’s a bit long (1 hour give or take), but well worth it as it really encapsulates the direction of mobile payments for the months and years to come.