When it comes to payments or finance, one of the first discussions that comes to mind is privacy. And it doesn’t matter which country, the subject is always relevant and brings important questions to the surface. For Alyssa Cutright, eBay’s head of global payments, though, millennials are not concern with privacy.
“We had a big concern about our data a few years ago… Today is all about convenience. You hardly ever stop using a smartphone card after you include your data. Millennials, in fact, are not so concerned. The future is about convenience and mobile experience. Whether it’s on the phone or something that’s on your wrist, ”Cutright said during the on the stage of Money 20/20 USA.
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According to eBay’s head of payments, millennials are mindful not only of convenience, but also with the usability and experiences offered by applications. One of the examples given by Cutright was the recently Apple Card launched.
“The magic of this card does not seem to be the metal or the brand itself, but the UX. This is Apple’s kind of magic. When you use it everything looks very simple, organic. With a few taps you see your transfers and transactions. It’s the kind of usability we didn’t know that it could improved,” she said.
Service customization is for Cutright the future of any payment business. And that’s especially what makes eBay still so unique.
“The thing about eBay is that you can find something very unique, that is special to you and not necessarily to me. We have a very wide spectrum of products and businesses, so we can be special to completely different people at the same time.”
Finally, Cutright commented on the expansion of financial services via superapps and other products in the Asian market–specifically China–and whether these superapps and services could ever reach the West.
“It’s amazing the range of different services and products out there and I think it’s very complicated to see something similar here in the US in the near future, due to the concentration of cards and how our market is regulated,” she added.
Translated by Fabiane Ziolla Menezes