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Discover Network - Innovation and the future of payments by Farhan Ahmad
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©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute 1
Innovate or Die: Brand Innovation in the Payments Industry
Farhan Ahmad, General Manager of Prepaid and Director of Emerging Payments, Discover Network
2©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Innovate or Die
“Innovation is not for the faint of heart and takes risk which is outside of the traditional comforts.”
– Geoff Nicholson, 3M Post-It Note Inventor
3©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
What Do These Companies Have in Common?
Named Business Week’s Top 10 Most Innovative Companies for 2010
4©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
The Power of Business Innovation to Create Brands
5©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Innovate or Die
“Insanity is defined as doing the same thing over and over again and expecting different results.”
- Albert Einstein
6©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Companies who are doing it differently….
7©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Payments Evolution
8©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
New Payment Forms Impact Consumer Interactions
New Forms of Marketing
New Forms of Marketing
New Types of Commerce
New Types of Commerce
New Demands of Payments
New Demands of Payments
New Interactions
Where do traditional Payments
Brands fit?
Where do traditional Payments
Brands fit?
9©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
The Perfect Storm for Payments is Brewing
10©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
In Payments, Innovation is Coming From Unexpected Sources
31%Alternative Payment Company
Share of Internet Payments by 2012
$526 BillionExpected Prepaid Load in
US by 2012
11©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
PaymentNetworkPaymentNetwork
Consumer Card Issuing
Bank
Consumer Card Issuing
Bank
Merchant Service Bank
Merchant Service Bank
Consumer/ Buyer
Consumer/ Buyer
Merchant/ Seller
Merchant/ Seller
Roles are Changing and Competition is Increasing
12©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
New Payments Innovation Frontiers
13©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
DEAL WITH IT.
The Rise of New Payments Brands
14©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Mobile Phones are the Next Frontier
Access
Availability
2 Way Communication
15©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Mobile Payments: Why Hasn’t Innovation Hit the U.S.?
?
16©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Mobile Payments: Why Hasn’t Innovation Hit the U.S.?
Inconsistent set of standards
Convenience and security issues
Payments Infrastructure
Value Proposition
17©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Mobile Payments: Changing the Way We Do Business
18©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
How Will Innovation Affect Payments Brands?
What if every consumer becomes a merchant?
19©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Which Brands will Innovate?
Online Payments
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Social Media Online Games
20©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute
Innovate or Die
“Life is 10% what happens to you and 90% how you react to it.”
-Charles Swindoll, American Clergyman
©2010 DFS Services LLC Confidential and Proprietary Do Not Copy or Distribute 21
Innovate or Die: Brand Innovation in the Payments Industry
Presented by: Farhan Ahmad, General Manager of Prepaid and Director of Emerging Payments, Discover Network
Thank You!