Consumers have more options and responsibility at the moment of purchase and payment. When buying a coffee we’re in control of our currency choice, tip, and receipt. We can also pay friends and service providers using apps that make the process fun/easy in an increasingly cash-less society.
Why is it novel?
Digital payment technologies make consumers more nimble and able to spend more frequently.
Why does it work?
Our devices (phones and tablets) have become our wallets and checkbooks.