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Pierre Boces

Pierre Boces

Senior Marketing Consultant at Welcome Real-time
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Bio As Senior Marketing Consultant at Welcome Real-time, Pierre has responsibility for providing consultancy to prospects and existing customers on their marketing and loyalty strategies. Drawing from experience on existing programmes as well as market trends, Pierre uses his knowledge to provide guidan Career History Pierre joined Welcome Real-time in 2005 as Director of Business Solutions, Asia Pacific, in charge of pre-sales activities, based in Singapore. He was then appointed Vice-President of Product Marketing, a role which he held for five years before becoming Senior Marketing Consultant at the compan



Gartner on mobile payments: 5 key lessons for Retail Banks

20 Jun 2013

A recent report from Gartner on worldwide payment forecasts provides five key lessons for retail banks regarding their approach to mobile payments. 1/ Divert your investments from NFC to alternative solutions Many observers have raised their concerns that NFC payments would not bring much value to retailers. As Gartner has reduced the predicted val...



Digital Wallets - The future is convenience

10 May 2012

MasterCard has just joined Visa, Google, PayPal, Isis, O2 and a whole string of providers who are launching or preparing digital or mobile wallets. As frontiers between the online and physical worlds start to blur, digital wallets will play an increasingly important role for both consumers and merchants. For consumers, the digital wallet can be a ...


Why retail banks can outperform sites like Groupon

27 Feb 2012

Thousands of small and medium-sized merchants, desperate for visibility and exposure have turned to daily deal sites to help drive traffic to their stores. But the profitability of such models is under scrutiny. I believe there is a huge opportunity for retail banks who could provide a sustainable alternative to daily deal sites by driving their c...



Mobile Payments: Opportunity for banks to create true value

06 Dec 2011

There is a lot of activity in the mobile payments space, with companies of all sizes, including Google, PayPal, Visa, MasterCard (with their recent investment in mFoundry), American Express, retail banks and start-ups all vying to win over consumers and retailers. Providing issues around convenience and security can be overcome, consumers and reta...


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Why retail banks can outperform sites like Groupon

  @ Ketharaman Swaminathan Thanks for giving me an opportunity to expand on the blog. The investment by Banks in Social media does not contradict the development by banks of daily deals. Social Media is another channel where daily deals could be proposed by a bank to their youngest cardholders, in complement to the Bank’s daily deal web site for their less younger cardholders. American Express has launched its “Link, Like, Love” and “Go Social” Initiatives on Facebook to help American Express cardholders to benefit from offers they clip on the social media. The offers that are redeemed at the merchant later appear on the Cardholders’ monthly statements. Retail Banks can outperform daily deals sites like Groupon even if they do not have complete access to the type of items that their cardholders buy. There is already value in knowing that a cardholder spent on his credit card a total of 1000$ in airlines tickets at three different low cost companies over the last 6 months. The information collected is good enough for a bank to propose offers targeted to a  category of merchants which are already specialized, so the deals can be linked to specific categories of products, and big retailers like Target would not be the target here. Once the cardholder is in store, there are other technologies and mechanisms to hook the customer for more frequent visits and higher spend. Retail Banks have the legitimacy to develop daily deal site with “personalized offers”. Retail Banks are much better positioned to collect preferences from their customers than Groupon. They can simply collect broad preferences -food, travel, entertainment, etc…- or even register more refined sub-categories -food-> fine dining, exotic, home delivery… Customers of the Bank can change their preferences in time as their needs change while the Retail Bank would continue to securely store those preferences. Retail Banks lack the agility of telecom operators or companies like Google and Paypal. In this competitive battle, technology is surely one of the key success factors, along with the will to jump into the thrills of the promotional world. For the on-going animation of the daily deals platform and the recruitment of merchants, early adopters may do the job themselves. Several marketing operators per country can also do the job on behalf of a Retail Bank although this may lead to the weakening of the relationship between the bank and the cardholders. As for the technology, Retail Banks have now several solutions providers, a few you named, others you did not name, including the ones you have some interest in as well as the one mentioned in my profile. So Retail Banks can acquire the agility they need in this battle by partnering with Solutions Providers and Marketing Operators.