Welcome to the latest entry in The 2018 Source Code: A Dev’s Guide. To help devs make the most of 2018, we’re posting informative Q&As with industry experts throughout the month of January. In this post, Matt Smith, VP of Visa Developer Platform, shares his insights, tips and predictions for the mobile payments space.
How do you think the rise of mobile commerce changes the way devs design apps?
The rise of mobile commerce has forced developers to design and develop for mobile-first user journeys. The ability to conveniently find and transact on things from anywhere at any time is having a profound impact on the way developers design applications. Companies are seeing the need compete on the differentiated experiences they create. Consuming outside API-based services that complement your application’s purpose and thus let go of traditional development philosophies that mandated owning your entire value chain provides agility and supports focus on the customer experience. These commerce experiences rely heavily on all tenants of responsive design and a core of API-centric resources. In short, mobile commerce has pushed developers to consume and produce APIs that can be harmonized to create convenient digital journeys for their customers.
Mobile payments are a space where devs need to collaborate with big financial players/institutions. What’s your advice to devs on strategic partnerships?
Devs should always keep an open mind on who to partner with. There have been many instances where defined markets have failed to adopt or partner with new technologies and ways of executing, which has caused many large name brands and companies to fail. Video rental companies refused to invest in online streaming. Taxi companies refused to develop or deploy an easier way to catch a ride. Big retailers have almost gone bankrupt refusing to modernize and compete with online retailers. Strategic partnerships can help you move forward and show you new perspective on solving problems. Innovation is key, and strategic partnerships should be fostered to enable and encourage that innovation.
Doubts about security can get in the way of consumer adoption regarding mobile payments. How can devs ensure that the information shared across apps is secure?
The goal of a mobile developer in the payment space in regards to security should be to answer the question following question: “How do I gain and maintain my customer’s trust?” Security is, and will continue to be, paramount in the mobile payments industry. SSL, TLS, encryption and biometrics are all technologies that every mobile developer wanting to deliver payment apps should be using. Proper vetting of resources that you want to consume will help to ensure that your customer’s data is kept secure. Today’s customers are willing to make commerce a daily part of their mobile routine; your app’s security should always reinforce that decision.
The future of mobile payments is rapidly changing. What is the one big bet that developers should be making in 2018 when it comes to developing mobile app payment solutions?
2018 will see the continued rise of the collaborative open API ecosystem. Devs will be building payment journeys that consume services cross-industry and that produce new services that are published back out for others. These journeys will include emerging standards and Payment APIs. Consuming a partner’s flexible APIs to build new mobile-first user experiences will enrich the global API ecosystem. This ecosystem lifecycle will itself become a metric of health as it relates to developers and their inter-dependency on each other.