What does Google need to do to make its Google Wallet mobile-payment system a success?
Answer is simple:” Give people confidence. Then make it a habit”.
Think about it. So many slight modifications to our daily lifestyle mean so many millions to manufacturers, especially as they’re repeated, day in and day out. And, once established, the cycle self-perpetuates.
There are four problems that need to be solved to assure consumer confidence in Google Wallet.
1. Customers need to be assured that if they lose their phone; they won’t give a thief access to their bank account.
2. The carrier needs to convince the customer that their bank account won’t be vulnerable, period.
3. Compatibility can’t be an issue but user has to be assured that their checks (and debit cards) can be used at any ATM.
4. If this is a digital wallet - make it one. Include a clear sleeve on the back for a driver’s license or other ID.
Make it a habit
Consumers need to feel comfortable with tapping their phones. To do that, ICICI, HSBC, Citibank and Google need to establish a habit. How? Discounts, discounts, discounts. But only if you tap. Movie tickets? At Rs 100 discount at your local Mall, for those who use Google Wallet.