Just-in-time digital marketing and real time payments · JUST IN TIME MARKETING CIS CLS GIS SYSTEM...

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1 Just-in-time digital marketing and real time payments Czes Szarycz Managing partner, Orion RTS May 2019

Transcript of Just-in-time digital marketing and real time payments · JUST IN TIME MARKETING CIS CLS GIS SYSTEM...

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Just-in-timedigitalmarketingandrealtimepaymentsCzesSzaryczManagingpartner,OrionRTSMay2019

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OnlinesalesintheUSAhavetripledoverthepastfiveyears2,andyet90%ofallretailpurchasesintheUSAarecompletedinphysicalstores1.Surprisingly,82%ofinternetsavvymillennialsprefertofinalisetheirpurchasesinphysicalshops,althoughtheyuseinternettoresearchproductsoftheirinterests.Forthesereasonslargeshoppingcentresarestillthrivingthroughouttheworld,transformingthemselvestoculturalhubsattractinggeneralpublicbyofferingavarietyoflifestyleevents,educationandentertainment.Traditionalbarrierstopositiveshoppingexperience,likeroadaccess,parkingandshoppingqueuesarebecomingathingofthepast.Shoppingmallownerstendtobesavvynegotiatorsandsecurefavourableagreementswithmostlocalgovernmentsandroadauthoritiestoensureanoptimalcarorpublictransportaccesstotheirproperties.Inaddition,smartphoneappscanalsousherdriversthroughlabyrinthsofshoppingmall’scarparkstoanappropriateparkingspot.Smartappsalsoserveasanavigationandinformationtoolsinformingcustomersofspecialofferingsastheystrollthroughshoppingfloors.Customerlocationsystem(CLS),moreaccuratethansmartphonelocationsensor,canrecordcustomerbehaviour,providinginvaluableinformationtomerchantswhomaywishtoprovidetargetedoffersandachievefavourableadvertising-to-salesratio.Thesamedevicecanalsobeusedasapointofsaletoolremovingtheneedforshopperstostayinlengthyqueuestopayfortheirpurchases.Theycanalsorequestfortheiritemstobedeliveredtotheirhomes,allowingthemtoattendculturaleventsstagedwithinshoppingcentre’sperimeters.TechnologyplaysakeyroleinenablingJITdigitaladvertisingandinstantpayments.OrionRTShasadoptedEuropeanCentralBank/EuropeanRetailPaymentsBoarddefinitionofrealtime/instantpayments:Instantpaymentsaredefinedaselectronicretailpaymentsolutionsavailable24/7/365andresultingintheimmediateinterbankclearingofthetransactionandcreditingofpayee’saccountwithinsecondsofpaymentinitiation,irrespectiveoftheunderlyingpaymentinstrumentused(credittransfer,directdebitorpaymentcard)andofunderlyingclearingandsettlementarrangementsthatmakethispossible.Thusthecharacteristicsofrealtimepaymentsare:Immediatedelivery:Paymentsinitiatedandconfirmedwithinseconds

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Comprehensivereach:Availableacrossagivenregulatoryjurisdiction.Irrevocability:Oncepaymenthasbeeninitiated,itcannotbestopped.Immediateconfirmation:Confirmationmadebeforeintra-daysettlements.Straightthroughprocessing:Nohumaninterventionisneededafterapaymentisinitiated.Secure:PaymentInitiationServiceProvider(PISP)candemonstratecompliancewithPSD2APIsorutiliseclearingservicesprovidedbymanygovernmentsaroundtheworld.

Figure1.RTPCorefeatures. OrionRTSisaPISPthatdevelopedamobileretailpaymentapplicationcalled‘mobill’thatusescustom-builtCLSthatisbasedonthousandsofbeaconsgroupedinconstellations,installedatstrategiclocationsinthecityofWroclaw,Poland,allowingconsumerstopurchaseawiderangeofserviceswherepointofsalesdevicesarenotavailableorarecumbersometouseoraccess.SincethelaunchofourpaymentsysteminSeptember2018,weacquiredthousandsof

RTPCOREFEATURES

24/7OPERATIONS

IMMEDIATEDELIVERY

IMMEDIATECONFIRMATION

IRREVOCABILITY

STRAIGHTTHROUGH

PROCESSING(STP)

COMPREHENSIVEREACH

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PaymentServiceUsers(PSU)whoutilisetheapplicationinthevarietyofpaymentscenarios:1.PurchaseofticketsforpublictransportwhenatravellerisalreadyinsideavehiclewithoutanyneedtoapproachaPOSdevice.2.Paymentforstreetparkingwithoutaneedtoleaveavehicle.3.Culturalevents,whereonecanrespondimmediatelytoapromotionbypressingasinglebuttontoaccepttheofferforani.e.atickettoanopera,musicalconcert,theatreandothers.4.Utilitybillpayments.5.Paymentstoanymerchantthroughatraditionalproximityoptiontoapointofsaleappliance,makingitaversatileandconvenientmobilepaymentdevice.Keycomponentsofoursolutionare:Clientinformationsystem(CIS)-collectscustomers’slocation,productpreferencedataandintegratesitwithbothdatacollectedfrompublicandprivatesources,utilisingArtificialintelligencetechniquestoenrichdatasetsandtobetterunderstandcustomerbehaviour.CustomerLocationSystem(CLS)-Wecollectlargevolumeofcustomermovementdata,generatedbyourbeaconconstellationsandassessshoppers’svicinitytoretailerslocationinrealtime.Wealertmerchantsaboutclient’sproximity,passingshopper’sCRMlikeinformationbasedonourCISsystem.Merchantshavethenanoptionofsendingatargetedpromotionalmessagealertingpotentialclientsaboutproductoffers.Clientmayrespondtosuchamessagebypressing‘buy’option,whichsendsamessagetoapointofsalebeaconthatgeneratesanelectronicproofofpurchase.Clientmaythencollectanitemfromashelforasalesassistant.

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Figure2.ConceptualRTP/JITmarketingecosystem. Oursimpleinusefront-endapplicationissupportedbyarobustback-end,bigdatainfrastructurebuiltonopenarchitecturalcomponents,developedbyApacheproject,allowingscalabilityanddatapersistency.Wealsocollectmerchantpromotionalmaterialandtrackthesuccessrateofconvertingdigitalofferingstosales.WeaugmentourcustomerdatawithdatacollectedfrompublicallyavailabledatasourcesandfromInternet.OurAIrobotsaretrainedindatasourcingprocessingandanalysis,assessingcustomerloyaltyandimprovingcustomerretention.Customeranalysisisavailabletomerchantsthroughadedicateduserinterface,allowingmerchantstoaccesstheirclientsinformation24/365.Wehavealsodevelopedprovisionsfortransferoffundsdirectlybetweenbankaccounts.WeplantoofferthisoptiontomobillapplicationusersonbothmerchantandshopperssideinQ42019.

CLIENT

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MERCHANT

JUSTINTIME

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CLSGISSYSTEM

CBM

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Figure3.RTP/JITmarketingtargetarchitecture.ConclusionOrionRTSsolutionintegratesmobilepaymentwithjustintimepromotions,usingdigitalchannelsofferedbysmartphones.Oursolutionsoffersconveniencetobothmerchantsandshoppersmatchingclientsneedstobestoffersavailableinrealtime,inshoppingmallsetting,removingaclatterofmis-targetedadvertisementsandprovidinganeasy,remotepaymentoption,removinganeedoflengthyqueuing.Abouttheauthor:CzesSzaryczisanexperiencedseniorbankingtechnologyexecutivewith25yearsofexperiencegainedintheFinancialServicesandAerospaceindustriesinSingapore,Australia,JapanandSouthKorea.References:1.Envision2020,Thefutureofshoppingcenterindustry,ReportfromtheICSCBoardofTrustees. 2. U.S. retail e-commerce sales 2002-2017, https://www.statista.com/topics/2443/us-ecommerce/

DATAACCESS

DATADEPOSIT

INFORMATIONSERVICECALLS

CURATIONINTERACTION

SEARCHREQUESTS

DATASOURCES

FACTORYOFAIAGENTS MERCHANTINTERFACEREGULATORYREPORTING

IOT

BEACONDATA

NEWSOURCES

OTHERSYSTEMSOFINIGHT

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BANKS’SAPI’S

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SOURCES

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CREDITRATING

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DATAACCESS

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STREAMING

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CREDITORBANK

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