the modern pace of living is what drives innovation

The Influence of User Behavior on Creating Better (Payment) Solutions

When we were given mobile phones, we thought “What could possibly happen next?” Science-fiction movies only gave a creative opinion on what could happen in the future and they weren’t so far off. Little did anyone know at that time we would have so many options and such advanced technology.

Nowadays, in a world full of choice and no extra time, people will not opt for the inferior service because they want to be appreciated and, dare we say, pampered. Analyzing consumer behavior is all about identifying forces that affect consumer decision and what we can take is that companies are tailoring products to meet their clients’ needs. 

Demand-pull – technology push

Many say we live in the most stressful of times where everything has to be delivered fast, whether it is something personal or professional. 

That can truly put a lot of pressure on us since we are emotional beings who can get a bit overwhelmed. However, there are advantages and benefits to the way of life that used to be and the modern one. If you recall what life was like ten or twenty years ago, you might realize how even though everything was much slower, you didn’t have a lot of choices. For example, when there we no mobile phones you only had one option to get in touch with someone. 

We are now living a higher-quality life, followed by globalization trends, whereas we are given the opportunity to move to other countries, enjoy other cultures, share our everyday activities with friends, get informed and acquire new knowledge, buy new clothes or food and all of that with much more ease and options than ever before. 

How did people’s habits influence the payment industry?

“Necessity is the mother of invention”


Just as the credit card was supposedly invented after Frank McNamara forgot his wallet in the restaurant, other payment-related methods were invented to better suit people’s needs in a modern and fast life. Payments are an integral part of our lives and, as anticipated, people want that frictionless “on the go” mode in payments too.

In the beginning, there were only a few simple e-commerce features available mostly for the Western part of the globe, while the rest of the world got access to those features somewhat later. A neat example of a great idea related to e-commerce happened in 1989 when two men realized that people don’t have time to go to supermarkets to buy groceries. As a result, Peapod was created, an online grocery store that delivered groceries to a home address in the shortest time possible.

Therefore, companies and innovators were striving to find a way to seamlessly incorporate payments into our everyday lives and tailor it to people’s needs.

A few years later, people could buy virtually anything from the comfort of their own homes. These advances made us all a little impatient and persnickety, which drove the further evolution of e-commerce and payment methods. 

(In)convenience is the father of invention

Having convenient solutions is something of great importance to us. Even if something already exists, we want that to be even more convenient for us because that is how technology is raising us.

People got used to certain standards and serviceability and demand to have it on the go. They also became used to using certain interfaces. When they use an app, it spontaneously leads them to where they want as any smart interface should. An additional example from the payments industry is that people are accustomed to a particular ATM interface in their country and expect the same one when they travel abroad. User interface is very important because it guides users and they are very strict when the guidelines are poorly designed.

One interesting case of an innovative payment method is the wristband-smart watch. A recent fitness craze revival saw the invention of tracking devices such as FitBit that would track your steps or heart rate and monitor other fitness-related activities. Innovators from similar companies realized that when people go running, it’s inconvenient for them to take their phones and wallets. Therefore, they introduced the payment feature on these small trackers and even incorporated operating systems. The wristbands and bracelet payment was also introduced as a convenience on festivals and such bigger events for a smoother experience.

Fun fact

Visa is trying to create sunglasses that will support contactless payment to further improve their clients’ experience.

Our habits and needs slowly started migrating to our mobile phones and that is why they are being called smartphones. No one can imagine a life without it anymore because they became an extension of our hands, and even ourselves in the Internet of Things. We use it literally every day for a wide array of our needs and can feel a slight separation anxiety when we forget them at home. Why? Because then we cannot call anyone, we cannot read or play something while we wait in the dentist’s office, we cannot pay our bills, we cannot check our daily schedule, respond to emails and so on… “On the go” is not just a trend but a way of life and that is why mobile wallets were the next logical step in payments. 

What now?

Our customs and demands are the center focus of the payment industry. People’s behavior will certainly drive the next big thing, but we ask ourselves again: “What could possibly happen next?” Perhaps it is artificial intelligence, perhaps it is virtual reality.

Whatever the future holds, history taught us that there is a lot that could and will happen next.

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