131 views 0 comments

Visa Announces Pilot Program for Sensory Branding Initiative

by on December 7, 2017
 

Even established players such as Visa have to keep innovating every year. That is much easier said than done in this era of digital payments. Consumers have so many different preferences, it is difficult to please everyone. Sensory branding is the new way to go for this company, although the concept is a bit unusual. Using sound, animation, and haptic cues to designate completed transactions is not something most consumers are used to.

It is commendable to see Visa think outside the box for a change. Consumers become more and more reliant on visual cues for trusted shopping environments. This is especially true in the world of online shopping and e-commerce. Sites displaying a Visa logo often instill trust, even though anyone can host this logo with relative ease. However, this same “sentiment” isn’t present in either the digital and physical world. Something has to change in this regard, but that’s not all that easy.

Visa Unveils Sensory Branding Initiative

This is why the Visa team has come up with an interesting solution. Although sensory branding is more gimmicky than anything else, it also has a lot of promise. Short sounds, animation, and haptic cues will signal completed transactions moving forward. These cues can be identified with the Vis brand, which is a positive sign. No other major competitor uses similar methods right now.

Visa’s CMO Lynne Biggar comments as follows:

“As payments become increasingly embedded in commerce, the notion of ‘Everywhere You Want To Be’ takes on even greater meaning for our brand. As new payment experiences continue to take shape in the world, this suite of sensory branding elements will give consumers the assurances we know they want every time they use Visa.”

For the time being, this new program will not roll out until early 2018. A select few POS hardware vendors and national merchants agreed to a pilot program. How all of this will play out, remains to be determined. If successful, this sensory branding will play a role during the 2018 Olympic Winter Games. It is an interesting option to pursue, although sensory branding may not be the ultimate solution either.

Header image courtesy of Shutterstock

Enjoyed this article?

If you liked this article, sign up for the newsletter on the main page, and make sure to follow Fintechist on Twitter! and Facebook

Be the first to comment!
 
Leave a reply »

 

Leave a Response