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My Payments Wishlist as a consumer - for 2016 and beyond

A few days back, I came across this video on WestJet Christmas miracle in which an airline asked their flyers about what they'd like for Christmas and gave them surprise gifts based on their responses. It was wonderful to watch the joy on the faces of the travellers to see their wishes fulfilled.

With the chill in the air, a holiday / festive mood around the world and with everyone talking about Santa / Secret Santa or Santa's gifts - It is a good time to make wishes, and hope they come true. 

For many of us, the month of December is a time for reflection, introspection of the year gone by and also a time for thinking, wishing and dreaming about what we want.

So I asked myself what are my payments wishlist as a consumer - for 2016 and beyond. Sharing the same in the blog below:

1) Pay by being you : That I should have the option to pay with my presence - either a smile, nod or by just being, and payment is done. This is especially for the times when I find that I don't have cash on me, my card does not work and my mobile battery / signal is running out!

2) Pay Everywhere Always : That I can buy what I want because the merchant does not accept a specific mode of payment. This is especially for the times when you really like something but can't buy because the merchant won't accept the only payment mechanism that you have.

3) Pay Anytime Always : Be it 12 AM mid-night or 8 PM, I should be able to pay for what I want and technology / systems and services should support it. This is for all the times when retail therapy is the only solution for many a problem of the heart, mind and body!

4) Pay in any currency whenever I wish Always : So I should be able to buy and pay for apples, flowers, choclates or anything I wish from any part of the world in my base currency. This is for the times when I really like a product or service from China, Japan, London or America and the only reason I can't source it is because I don't have the required currency 

5) Pay to anyone Always : So I should be able to pay to anyone I want in a simple seamless way - whether I know them or not, at anytime and anywhere - either for personal / business reasons. 

6) That my money is safe - at all times of the day and night, whether it is in a bank account, enroute to another bank account or lying idle in my wallet.

That's it. That concludes my list. Short and Sweet right?

So what is in your payments wishlist? Leave a comment to let us know.. May be Santa is listening

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Comments: (2)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 23 December, 2015, 09:59Be the first to give this comment the thumbs up 0 likes

I keep reading the digerati calling out bank or other finserv providers for lack of this and lack of that without ever listing what exactly they want that banks and FSPs don't provide. It's refreshing to come across an actual wishlist. Some of your items are / were already available.

#1: PayByTouch and SQUARE tried this via fingerprint and photo years ago. Unfortunately, both products died due to lack of consumer offtake.

#2: Cash! Noncash: How much surcharge will you be willing to pay?

#3: Cash! Credit card. Both work 24/7/365.

#4: International credit card. Keeps you shielded from LCY.

#5: Cash! Noncash - PayPal, Venmo, Chillr, etc.

#6: Any scheduled bank with deposit protection guarantee. 

Have you tried them? What limitations, if any, did you face with them?

Balasubramaniam Gd
Balasubramaniam Gd - DBS - singapore 31 December, 2015, 02:16Be the first to give this comment the thumbs up 0 likes

At least from an India perspective its far too early days and 2016 will have to deal with the younger generation who have good risk appetite vs the Tradigital seniors who still frown on the moving away from age old banking customs, the touch and feel factor with that experience !