Gartner Research

Social Messaging Apps Disrupt Payment Markets

Published: 12 September 2014

ID: G00264341

Analyst(s): Christophe Uzureau , Ethan Wang

Summary

Tencent's WeChat wallet shows that social-messaging-based apps can extend their reach beyond payments, disrupting traditional providers. Bank CIOs can learn from social messaging apps to contextualize their digital wallet solutions and tie them to broader financial tools.

Table Of Contents

Analysis

  • Social Messaging App Plays the Payment Innovation Game
    • Social Messaging App Captures Liquidity Targeted to New Customer Segmentation
    • Using Gamification to Stimulate Customer Acquisition
    • Social Messaging App Shifts Consumer Expectations Upward
    • Lessons Learned by Banks
  • Social Messaging Apps Open Their APIs as Catalysts to Innovation
    • Open APIs Play a Significant Role to Develop Payment Platforms
    • Transforming the Ecosystem for Proximity Payments
    • Lessons Learned by Banks
  • Regulatory Uncertainties Constrain Payment Innovations
    • Increasing Regulatory Pressure on Liquidity Risk Management
    • Balance Consumer Protection With User Convenience
    • Lessons Learned by Banks
  • Bottom Line
    • Recommendations

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