Thanks for this Jeremy, a very practical view on the market dynamics. I continue to be surprised that major merchants (eg, British Airways) don't offer me an A2A option with rewards, but perhaps the European dynamics will change as the digital identity wallets come online.
Dave I agree, retailers are missing an opportunity. Airlines in particular must pay well above average card fees (corporate/cross-border/high value) providing headroom for generous loyalty rewards attached to A2A. However, in my experience there is a big disconnect in retailers between payments which are managed by operational teams and products handled by product development, marketing and sales teams (a bit like in banks). Ryanair has started offering A2A with open banking, perhaps other airlines and retailers will follow when they become aware of the opportunities with A2A.
Thanks for this Jeremy, a very practical view on the market dynamics. I continue to be surprised that major merchants (eg, British Airways) don't offer me an A2A option with rewards, but perhaps the European dynamics will change as the digital identity wallets come online.
Dave I agree, retailers are missing an opportunity. Airlines in particular must pay well above average card fees (corporate/cross-border/high value) providing headroom for generous loyalty rewards attached to A2A. However, in my experience there is a big disconnect in retailers between payments which are managed by operational teams and products handled by product development, marketing and sales teams (a bit like in banks). Ryanair has started offering A2A with open banking, perhaps other airlines and retailers will follow when they become aware of the opportunities with A2A.