Payments in telecoms : Enhancing customer journeys with digital payments
Ericsson ’ s Ola Persson looks at how digital money is helping to streamline customer payment journeys and , subsequently , customer experiences .
“ Digital money has quickly become a strong challenger to cash in no doubt due to its convenience , simplicity , and speed . Digital payments have the inbuilt advantage of delivering a seamless experience from end to end .
“ Open APIs also play a large role in enabling a seamless journey . New-age payment platforms with open APIs like Ericsson Wallet Platform enable third parties like merchants and enterprises to integrate with mobile financial services to offer seamless transactions and payments .
“ Digital payments platforms are typically much more ‘ open ’ than conventional services , meaning they offer increased connectivity and opportunities to create new and novel customer journeys .
“ Looking towards the next decade , we expect to see personal finance management ( PFM ) and robo-advisory tools leveraging AI and ML algorithms with holistic data analytics to forecast future money inflows and outflows and also to provide personalised recommendations for savings and investments .
“ Chatbots and voicebots powered by AI and natural language processing will be available to customers through apps and websites 24 / 7 , further improving their journey from start to finish .
“ Customer care will become automated and able to provide human-like responses that can meaningfully resolve customer queries and issues .” fintechmagazine . com 77