Non-traditional players have injected new ideas and technologies into the traditional payments ecosystem, increasing consumer expectations for “wow,” seamless experiences. As a result, an anytime, anywhere commerce mindset has emerged, creating a wide set of opportunities for startups to develop their ideas for transforming the customer experience. Consumers’ wants include payment experiences with unique features like easy setup, control, customization and most of all zero friction or wait time. Payment can now happen before, during or after shopping – as long as it does not interfere with the experience. Security is taken for granted and a no-brainer especially for the fraud-concerned German consumer.
The focus of the challenge is on application fields such as shopping experience in offline, online or omni-channel environments to travel experience before, during or after traveling as well as customer banking experience.