A payment experience need not be painful, yet for millions of people around the globe, it is.

The metric in understanding payments is patience! We are an impatient species when it comes to paying others. Cash is, no doubt, the fast, handover, transaction done, walk-away! Too bad, cash’s market size in transaction is contracting.

As we all heard recently, Denmark would probably be one of the first countries to go cashless. This is not by design, but by societal behavior that led to legislation. Scandinavian countries on average use less than 6% cash in their economies, while the US uses a whopping 47%. So, it would be fair to say that electronic payments need to catch up with the speed at which cash payments are made.

Unfortunately, this is where the fairytale ends for most.

Making payments electronically adds significant time for processing & authorization. These are the kind of behavioral issues that Sign2Pay studies and tries to improve upon. Technology is a great enabler, but without examining the elements of human behavior and interaction in real-world examples, the end result is a more friction prone payment experience.

A typical local payment app at a supermarket may result in the following steps:

  1. Take Phone Out
  2. Unlock
  3. Swipe Screen to go to App Page
  4. Click on App
  5. Enter Security PIN Code for access the App
  6. Find Pending Payment
  7. Approve
  8. Provide PIN for Approval (Optional)

Consider the alternative that Sign2Pay offers through an iBeacon and a payment engine in the retailer’s loyalty app:

  1. Take Phone Out
  2. Sign (Payment Made)

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The heat maps below provide a realistic representation of the pain points with traditional payment service providers.

Sign2Pay payment option is…

  • Frictionless
  • Fewer Steps
  • No more jumping through hoops (i.e. redirection or opening other apps to pay).
  • Intuitive

We are helping mobile commerce achieve a higher conversion by taking something that has been used for centuries and turn it into a more secure way of paying on touch screen devices.

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