Official Blog of GTM360 Marketing Solutions
The world’s leading mobile wallets use QR codes. This includes Alipay and WeChat Pay in China, PayTM and PayZapp in India and Starbucks App in the United States. QR code has been popular in China for the last 4-5 years. In India, the nineties-era technology has become very visible in the last one year, driven by … Read more
Personal Finance Managers and Mobile Money Management Apps (herewith “PFM”) have been around for over a decade. So far, PFM has focused on budgeting by helping users control everyday expenses such as the proverbial $5 coffee. For reasons explained in Innovative Fintechs Don’t Need No Open Banking Regulation, PFM’s value proposition is disproportionately low compared … Read more
As we all know, there was a severe cash crunch in India on the back of the demonetization of high value currency notes a year ago. To ease the pain, the government of India made a big push towards digital payments. Trending under #CashlessIndia, the drive amplified the visibility of preexisting digital payments and triggered … Read more
In Loss Aversion: Why Negative Messaging Works In Marketing, we saw how the Loss Aversion principle in consumer behavior makes negative copy effective. At the end of the post, I’d cautioned vendors against using negative style in content indiscriminately and implored them to handle campaigns based on negative copy with a lot of care. In this … Read more
Consumer advocates ranted about overdraft protection fees in 2008, saying the service was forced down upon consumers. While the uninitiated can Google “overdraft protection” for a prosaic definition of the term, Stanley Bing offers the following tongue-in-cheek description for one of the most lucrative services offered by US banks: “No matter what you spend with your … Read more
Take the following thread on Twitter. @s_ketharaman: Merchant A/c is reqd. for BharatQR, I wonder how many such merchants will qualify for it. Meanwhile, PayTM will race ahead:) @logic: After Banks figure this out and do something with eKYC, they will realize that people are not ready to pay MDR, want privacy @s_ketharaman: But Merchants … Read more
I noticed a huge crowd during a recent visit to my bank branch. I happened to spot the bank’s Head of Relationship Banking – let me call her Sonia – in the branch. I asked her how come their branch was so full when finsurgents have been predicting the death of branches for so long. … Read more
If you think bots will never replace human agents, you’re amongst the lucky few who has been served by intelligent human agents. Let's stop pretending that the average Customer Service Rep has an IQ of 140 when we believe that chatbots are not intelligent enough to replace human agents. https://t.co/ErzpUfMmLP via @verge . #CustomerService pic.twitter.com/ujDj2l3593 … Read more
Contrary to popular belief, Flipkart didn’t pioneer ecommerce in India. That distinction belongs to Fabmall, the startup that introduced ecommerce in the mid-1990s well before Flipkart was founded in 2007. I remember placing orders from a dial-up modem in 1998 and paying online by credit card, which was the only mode of payment supported by … Read more
We all know the cost of a failed payment in terms of loss of service, late payment fees, reinstatement charges, and so on. In this post, I’m going to estimate the cost of escaping a failed payment. I had to pay college fees of INR 300,000 (~US$ 4615). The college supported an array of digital … Read more