Close
 

Visa’s Marty Kerr talks digital lay-by, mobile payments and Amazon

  • News
  • August 25, 2017
  • Sarah Dunn
Visa’s Marty Kerr talks digital lay-by, mobile payments and Amazon

The payments scene has been changing fast over the last year or two. Mobile payments like Apple Pay and the now-failed Semble; the rise of social-integrated systems like Alipay and WeChat’s payment service; and, locally, the introduction of digital layby services have introduced new challenges and opportunities for both retailers and payments providers. The Register met with Visa’s country manager for New Zealand and the South Pacific, Marty Kerr, for a catch-up on all things payments.

There’s a misconception that Visa is all about credit cards, but it’s actually in the business of payments technology, Kerr says.

Visa’s main role is providing processing services through its VisaNet electronic payments network, which connects more than 15,000 financial institutions in 44 million merchant locations around the world. Over the four quarters ending March 31, 2017, US$9.5 trillion was transacted using its payments products.

Asked for his opinion on why New Zealand has suddenly seen the emergence of four digital lay-by services in less than a year – Laybuy; Oxipay; Afterpay and PartPay – Kerr says they’re a local expression of a global trend in which the barriers to create new fintech solutions are lowered.

Customer experience is more important than it’s ever been, and as more aspects of the payments ecosystem are digitalised, it becomes easier for start-ups to meet consumers’ needs with new products.

“This is a great example of innovation in that space,” Kerr says.

He says traditional lay-by payments were clunky and ripe for reinvention, citing Uber’s streamlined payments process as another example of a new system that’s tapping into previously-unmet consumer demand.

“From our perspective, payments just need to be as frictionless as possible.”

Regarding the rise of mobile, Kerr sees Apple Pay and Kiwi banks’ proprietary alternatives set to grow, although he cautions that plastic, like cheques before it, isn’t going to disappear anytime soon.

 Visa is working closely with the Ministry of Business, Innovation and Employment to address the issue of contactless credit and debit cards. Since the cards were popularised in 2015, providers have come under pressure from Retail NZ and other organisations to provide greater transparency around the cards’ fees.

“We’re fully supportive of more transparency,” Kerr says.

He’s confident there will be movement on this issue within the next six months.

When The Register spoke with Kerr, he had recently returned from a visit to Sydney. He confirmed that retailers there signaled concern about Amazon’s recent entry into Australia: “There’s a lot of nervousness about the unknown in the Australian market.”

Kerr himself is optimistic about the ability of Australian and New Zealand retailers to weather the storm of Amazon’s arrival. He sees price, fulfillment and a frictionless customer experience as Amazon’s key differentiators, “but they haven’t got a monopoly on it. No way.”

Customers seeking a transactional experience will come to Amazon, but some will want a more tailored, human kind of shopping interaction.

“That’s a huge opportunity for New Zealand retailers.”

“I think Kiwi retailers on a per capita [basis] don’t seem to have the same strength of focus on digital that others do.”

This could be a strong strategy if these unspent resources were deliberately diverted into a bricks and mortar offering, but Kerr is unsure whether that’s the case.

The demand for omnichannel retail is growing quickly, but every new venture requires an outstanding payments interface to make it work. Visa’s role is to make sure retailers are supported in this area, Kerr says.

​ ​

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.

 

Military-style semi-automatics ban announced

  • News
  • March 21, 2019
  • The Register team
Military-style semi-automatics ban announced

As of 3pm on March 21, a wide range of semi-automatic weapons have been reclassified under section 74A(c) of the Arms Act as requiring an E endorsement on a firearms license. This means they can no longer be sold to those with A-category gun licenses, and their purchase now requires police approval.

Read more
 
 

Retailers gather for insights at NZ Retail and The Register's breakfast

  • News
  • March 21, 2019
  • The Register
Retailers gather for insights at NZ Retail and The Register's breakfast

NZ Retail and The Register’s sales and marketing breakfast saw dozens of Kiwi retailers come together to network, sharing tips and tricks and absorbing expert advice.

Read more
 
 

Who stole Christmas?

  • News
  • March 21, 2019
  • Kelly Withers
Who stole Christmas?

Results are starting to trickle in from Christmas 2018/2019, and for many retailers, they're a little disappointing. Paydar chief executive and co-founder Kelly Withers explores the data.

Read more
 

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

 
topics
Concept to closet
Business coverage of New Zealand Fashion Week.
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
How to open a store
Sarah Dunn considers what it would take to ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
Sisterhood
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...
 

Chinese businesspeople raise millions for Christchurch victims

  • News
  • March 21, 2019
  • Radio New Zealand
Chinese businesspeople raise millions for Christchurch victims

A group of visiting Chinese businesspeople have raised $2.35 million for victims of the Christchurch mass shooting.

Read more
 
 
News

The Retail NZ Awards: What does it take to be a winning retailer?

Take this time to shine with the upcoming Retail NZ awards, a chance to show the retail industry what makes your business stand out. No ...

 

Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

  • News
  • March 20, 2019
  • Sarah Dunn
Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

In the wake of the attack on Christchurch’s Muslim community on March 15, strong calls for changes to New Zealand’s gun last have been made. Trade Me was the first retailer to act, halting the sale of all semi-automatic weapons on its platform, and it has now been joined by Hunting & Fishing New Zealand.

Read more
 
Next page
Results for
Topics
Jobs
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

Advertise
The Register

editor@theregister.co.nz

Content marketing/advertising? Email anita.hayhoe@icg.co.nz or call 022 639 3004

View Media Kit

}