“To me, the best modern payment experience is when there is no physical money or bank card. This is the case with Uber, which generates an immediate transfer of funds” said Jean-Bernard Della Chiesa, Innovation Director at underwear retailer Undiz during the Retail Euphorie Conference held at Adyen in early November 2017. Traditional payment services are often associated with difficulty. According to Mr. Ziv Carmon, Marketing Professor at the Insead Business School across various campuses in Europe and Asia, “Payment is a painful moment. The idea of waiting in a line generates anxiety for many customers”.
Today, China is obviously leading the race for payment innovation in the retail sector, with WeChatPay and Alipay payment wallets, which are fully integrated into mobile messaging applications.