Official Blog of GTM360 Marketing Solutions
Fans of Lewis Carroll will immediately spot the striking resemblance between the title of this post and the refrain from The Mock Turtle’s Song in Alice in Wonderland. A newly opened electronic brokerage gave free eTrading accounts to all employees of the company in which I was working in circa 2000. I signed up for one immediately. … Read more
Let’s take the following two statements: Indians are obsessed over security Indians make payments without entering any password. Each of these statements is a fact. But, taken together, they appear contradictory and portray Indian consumers as fickle (or worse). Not true. In this blog post, I’ll use the principles of Customer Journey Mapping to explain why these … Read more
India’s central bank-cum-banking regulator Reserve Bank of India relaxed the two factor authentication mandate for instore card payments below INR 2000 (~US$30). This means that you can pay with credit or debit card at a store without entering a PIN for purchases below INR 2000. Ever since that announcement was made, card issuers and acquirers … Read more
Many people complain that cashiers decline Apple Pay even though their stores have advertised support for Apple’s payment service. I’ve come across the same experience with HDFC Bank’s PayZapp mobile wallet. The cashier at a restaurant in my neighborhood told me they hadn’t started accepting PayZapp although there was a “PayZapp Accepted” sticker on his … Read more
This is a slightly edited version of my answer to the following Quora question: Usually, there are many apps in the market, the developer remains blissfully unaware of them, develops a similar app without being cognizant of the other apps, and then wonders what went wrong. Yours is the right question. It’s a pleasure answering … Read more
Targeted offers have become famous. That’s not to say they’ve become popular – brand managers report low conversion rates of offers made to offers redeemed. There are many reasons for this problem such as the ones I covered in Walking The Tightrope Between Driving Repeat Purchase And Rewarding Loyalty and How To Fulfill Targeted Offers To … Read more
I recently saw the following post on LinkedIn: “95% of banks in the study have created innovation labs.” This figure seemed extremely high to me. I did a quick-and-dirty survey of three banks in my circle. Not one of them has an innovation lab. Nevertheless, I didn’t conclude that the author of the post was … Read more
Loyalty programs give reward points to consumers for making purchases and let consumers redeem their reward points for gifts. By their very nature, reward points look like an alternative currency and quack like an alternative currency. Blockchain lets them pass the Duck Test and become a alternative currency aka alt-coin. I’ve heard of platforms that help … Read more
Ever since Open Banking was launched in January, the media has gone on an overdrive, warning bank customers about data breaches and urging them to be cautious about sharing their data with TPPs (Third Party Providers). Fintech thought leader Chris Skinner accused the media of kissing “the banks’ backsides”. But it’s not as though the media … Read more
When you pay someone, you expect to get a receipt for the payment. Especially when that “someone” is a business. Receipt – or “proof of receipt of payment” – must be issued by the Payee / Merchant so that you can use it to independently prove that the Payee / Merchant has received your money. … Read more