Feature in your knowledge of how to price your services.
Stage 9 – Here come the early adopters. Everyone is thrilled to see customers signing up for the cool new technology. These are the early adopters that are driven to be the first to try everything that is new. During this stage you’ll encounter some issues and resolve them before mass adoption takes place.
Stage 10 – The mass market. Many months and possibly years have passed and finally a significant number of consumers are ready, willing, and able to use the ‘new’ technology because it’s more than just cool – it offers convenience and the price point is appealing. Issuers and merchants will either reap the benefits they want or they will limit/ discontinue or refine the technology.
these stages is the time between thinking that a consumer will use and pay for something until it actually reaches the mass adoption stage. ATMs and credit cards have consistently made money since their invention. Both offer convenience that consumers
are willing to pay for. Paying by phone has been technically feasible for a long time but is just now emerging into the market.
evaluate innovation in terms of how soon and how much profit it can support will drive your career.
The bottom line
Catherine Johnston is President and CEO of ACT Canada: stakeholders driving the evolution of payment and digital identity. ca.linkedin.com/in/ catherinejohnstonact/www.actcda.com
Without hope and enthusiasm there would be very little innovation. Your ability to
Each Click is a Residual Payment.
And then… We return to stage one with a new technology. This pattern repeats throughout our careers.
Authorize.Net has paid out more residual payments than any other payment gateway. Contact us to learn why.
Best practices Get to Stage 7 as quickly and economically as possible in terms of understanding the value to your organization. Your employer and your career will thank you.
Call 1.866.437.0491 or visit www.authorize.net
Where is the money? Whether you are an SME, issuer, acquirer, merchant, or other payment stakeholder, it isn’t hard to see patterns of success and failure. The other factor to consider as you work through
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November/December 2014
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