The good this week revolves around money, or rather, the ways we part it with. Paying with a credit card is not a great user experience.
It turns out, there's a better way, and there has been for a while, only it's taking longer than expected to pick up.
The idea of using your phone to pay is almost too obvious in today's world. Contactless, password or fingerprint protected and extra secure. While Google Wallet was honestly the first widely implemented payment method, Apple Pay has been spending A LOT of money to integrate NFC payments to their phones and to retails stores, but more importantly, to get people to use it!
The Bad this Week
One player that hasn't succeeded here is Bitcoin. Bitcoin could very well be the future of currency, but o they haven't solved one thing: making payments simple.
The whole concept of having a 'wallet,' the fact that you can 'lose' all your money if the hard drive where your wallet is, fails; this is not a simple UX, and they are still miles away from mass adoption.
I own some Bitcoin, and I've made and lost some money with the extreme surges we've seen in the past couple years, but I don't see why I would use it to pay for anything when even a credit card is a simpler experience.
Now for the tip; when you are looking at conversion rates on websites, you want to reduce friction to the absolute bare minimum.
Ever been on a checkout page and realize they don't take American Express? Or they only take PayPal, and you don't have an account? The struggle is real for your users and the fewer barriers you have, the better.
Companies like Stripe and Square are doing marvels around this. Stripe, for example, lets you add Apple Pay to your checkout page with a few lines of code, and Square's minimalistic... square lets anyone collect payments without going through the hoops of getting a payment processor.
By the way, neither of those works in my home country of Costa Rica. Stores have to go to a bank and pay thousands of dollars to get their credit card stations and deal with their ridiculous 7%+ processing fees.
Stripe, Square will you please? Come over; we'll get pina coladas and get caught in the rain.
Follow The Good, The Bad and The Tip Journey here…
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