Quality Over Quantity: Worldpay talks the future of mobile apps at TRANSACT 16

We recently took our annual trip to TRANSACT 16, the premier payments technology event hosted by the Electronic Transactions Association, a top payments industry trade group.

More than 4,000 attendees from tech startup founders to payments executives were present to make new connections, introduce emerging technologies and gain insight from leaders in the industry, including three Worldpay US executives who spoke at the event.

  • President of Small Business Steve Karp highlighted how merchants can leverage the latest payments technologies to create a better in-store user experience on a panel titled “Redefining the Mobile In-Store Experience.” Intuitive mobile app features such as clean design, geolocation features and in-app checkout were outlined as the most important for companies to strengthen the in-store experience and boost sales. As leaders in modern money, Worldpay has seen these features benefit multiple FinTech startups in our ATDC FinTech Program at Georgia Tech’s Advanced Technology Development Center (ATDC) incubator.
  • Vice President of Sales Operations Jennifer Hand spoke on a panel titled “You’ve Closed the Deal, Now What?” that focused on merger integrations in acquiring and best practices in merger integration.
  • Vice President of Innovation and Design Joe Kleinwaechter discussed the opportunities and challenges facing the mobile payments industry and how businesses are adopting the mobile point of sale in “Transforming the Consumer Payment Experience.” 

“An important thing to remember is quality over quantity when it comes to the customer experience,” said Kleinwaechter. “It’s not good enough to just provide an experience; it has to be a great, simple, fast experience or no experience at all. People aren’t tolerating bad apps anymore, so if you’re going to be present in the mobile world you better get it right. If you can’t do big right, then go small. If you can’t make small right, do nothing.”

In addition to the topics discussed on panels, EMV was a major theme of the event, especially Visa’s Quick Chip technology announcement. The new software, which will be offered to banks, payment processors and other financial institutions free of charge, will streamline chip card processing by reducing the transaction times from the current ten seconds to two seconds or less. 

For more updates on the payments industry and events we’re attending, follow us on Twitter at @Worldpay_US.

Written by:   ,  2 May 2016