NFC: and the secret society that may make it never happen

By in banking, mobile, products, strategy on 15 July 2011

NFC on phones is being pushed hard – the Next Big Thing for affluent spenders.
Sure, it makes sense at first. A cool way to pay. But…
NFC- the automated checkout on your phone. But maybe not?
Why not – we’ve this gadget-laden generation. Out to impress. They’ll love NFC.
Well, maybe they won’t even think about it.

How can I say this. It flies in the face of everything the marketers are saying to us.
But that’s the thing about marketers. They can sometimes miss the obvious…

Society’s layer cake

We live in a multi-layered society. The haves, the have-nots. But there’s more to it.
There are sub-layers or slices to every layer. But there is one layer in particular. This layer at first glance, should fall over themselves for NFC.

These guys always spend that bit more. Seen places. Eating at the River Cafe. The best clothes. The In-clubs. Nice cars. With oh-so-stunning-looking girlfriends.
Let’s call them the Guest List Layer.

The New Money

These guys are different. Society was once dominated by the Old Money layer, Society’s It-girls. Daddy-the-banker paid for it all. But this layer crashed hard. Another layer rose up to dominate. the New Money Layer.

Okay – this new layer’s still throwing round lots of money. Whats the difference?
The difference is how they throw their money around.

The myth of the cashless society

The greatest mistake we made was to believe we’d ever have a cashless society. That the system would provide us with easy ways to pay and control our finances, yada, yada.

Big, big mistake, guys. The New Money, Guest List Society aren’t in the system. They play the system. And they play it very differently.

Not for them that so-exclusive black credit card. Nor that private bank account. That attracts the tax-man. And that’s not part of The Guest List Layer’s plans.

Cash is still king

The Guest List Society loves to spend cash. Not tokens, not electronic funds. That’s the thing. The fat wallet. The smell of leather and big bank notes.

Its all about how fat your wallet is, not the size of your credit limit. That’s the key. That’s why NFC couldn’t be further off the Guest List radar.

NFC may be cool for the geeky – but for the real spenders – the cash splashers,
NFC is a joke. Look at that pleb, waving his phone at the waitress!

You see, Guest List Society money has probably never even touched a bank. That’s why they became so rich. Everything they do, they deal – tax and VAT-free. So if you’re banking on these guys to carry your NFC…

Forget it. These guys aren’t on the same page.

Check it out this weekend, watch how the cool people pay…