A couple of weeks back we had the opportunity to announce and demo our new Payment Method Distribution functionality at Finovate in San Jose, CA. The two-day event allowed innovative Fintech companies to demo new products to an audience of Silicon Valley start-ups, VCs, press and various service providers. Demoing an API is not an easy task, so to spare the audience from a long and potentially boring technical deep-dive we decided to highlight a real-world example of our PMD functionality in action.
Seat Geek kindly stepped up to the plate and put together a live demo site for us to show how PMD has changed their payment flow and improved their customer checkout experience.
By showing the audience a "before-and-after" ticket purchase, we were able to demonstrate how the PMD functionality allowed Seat Geek to redesign its checkout experience so that customers remain within its environment for the duration of the purchase process, thus reducing drop-off rates and increasing the amount of customer data captured and retained by Seat Geek. You can watch the entire demo here.
Finovate also highlighted some other cool emerging payment technologies, particularly in the mobile wallet space. Loop demoed their new streamlined magnetic "loop" that they claim will be integrated into a number of leading handsets over the next 12 months creating a new type of mobile wallet and payment method, while Wipit announced a new, low-cost way for the underbanked to send money to friends and family around the world across the Boost Mobile network.
Another cool feature that was presented at Finovate was Jumio's card and ID scanner, which allows users to quickly capture their credit card details or photo ID via an app on their phone for a range of uses.