Nov 9, 2006

Critical mistake #7: Launch without positioning your brand as a new way to pay

(This is the last post in the series on key success factors and common mistakes. Yes! Finally done!)

The market likes new branding when the payment experience changes. Visa and MasterCard were of course born out of this. But more recently, you can see the same thing with Chase’s Blink brand for contactless payments in the US.

If your EMV deployment changes the payment experience for cardholders and merchants and if you don’t take care to position your brand for that new experience, then you can be sure that the market will position it for you. You may like how the market positions your brand, or you may not. Worse, your own people will position it in lots of different ways, with little or no consistency.

It would be much better to think through branding issues before launching. You may decide to create a new brand (for example “Blink”) or you may decide that the new experience should become a new attribute of your core brand. The thought process is probably more important than the actual decision.

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