The topic of brand value in mobile payments dominated the “New Value Exchange” panel Tuesday afternoon in Hall 8 at Mobile World Congress 2013. A quartet of panelists, including PayPal’s senior vice president of strategy and business development Mark Lavelle, agreed that given the sensitivity surrounding mobile payments, having a recognizable and proven company name was crucial in establishing a level of trust with users and new adoptees.
Lavelle noted that part of the reason PayPal launched its mobile card reader PayPal Here was because the company wanted to help vouch for small businesses that might otherwise lose a sale from a dubious customer. Having a large partner like PayPal, he said, also helped with international sales, adding that over 40% of PayPal users will do a cross-border trade within their first several transactions.
Privacy is also a crucial issue when it comes to establishing and maintaining mobile payments customers, the group agreed, and having a strong brand was crucial to establishing both.
Not that customer loyalty should be taken for granted, said Sean Gilchrist , the managing director of digital banking at Barclays Bank. One mistake can ruin years of customer goodwill and the companies needed “to be sensitive” to their concerns, he said.