Visa at Deutsche Bank Conference Notes

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Sam Shrauger – SVP, Digital Solutions

Consumers becoming comfortable with mobile device as payment

” we are now kind of getting to the point certainly in North America where consumers are becoming comfortable with the mobile device as a vehicle for payment. I think with any new technology and I know we tend to like to over ascribe the pace at which people are going to take a new technology and immediately begin paying with it. I think it takes a little bit longer than that for people to get comfortable with these things specifically for payment.”

Breakage rate of ecommerce to mobile is large

” I think that probably the biggest growth area right now is just what was traditional desktop e-commerce moving to mobile. So and actually we have a product out there called Visa Checkout, we built it for a reason which is unfortunately if you’re a retailer right now, there’s kind of a good news, bad news thing. We have a lot of your store traffic shifting to e-commerce and that’s great kind of from an operational standpoint and operational cost standpoint. But at the same time a lot of that what was traditionally kind of desktop, keyboard commerce is shifting to mobile. And the breakage rate in checkout conversion is enormous in mobile for most retailers just because the key entry process and all those things are a big encumbrance.”

Don’t really care what communication protocol wins in payment

“I think what we’re not trying to do necessarily is pick winners in technologies and communication protocols in particular. I mean whether it’s QR or BLE or NFC I mean they are all basically ways of communicating payment data to a reader of some kind but at the end of the day how that happens as long as it’s done securely it’s sort of agnostic to you.”

Probably wont be one mobile wallet to rule them all

“I don’t think that and I think there is always this tendency to say it’s going to revert to this world where there is one wallet that ruled them all. I don’t believe that but I do think you’d have to look at scale players that are out there whether it’s on the device side or on the wallet side that are sort of agnostic to a particular transaction type and those are probably the most likely to do so.”