The battle for payments in NZ is on. Or is it? We have a plethora of wannabe players, but nobody seems to get it.
Paypal doesn’t care – after all eBay isn’t around and why support Trade Me?
Pago is just woefully bureaucratically crippled, and they can’t spell
Paymex looks ok, but who the heck are they anyway?
Paymate is a bunch of aussies who need to learn about web usability.
And there are probably others out there – the fact I cannot find them (or even these guys) with a cursory Google is not a good sign…
Wannabee payments monopolists – here is some free advice. If you want to crack the New Zealand market then it is very very simple – copy what PayPal did when they launched.
Give us money. $5 or $10 when we join.
And how much are you spending on advertising? oh right – nothing. Don’t think for a moment that PayPal succeeded without advertising (and giving away money). An occasional self laudatory press release isn’t going to get you anywhere (aside from inclusion in a blog rant).
Also spend effort (and pay money to usability professionals) to make your website easy to use, be local and never forget that our bank to bank personal transfers are dead simple, so you’d better be pretty good.
That said – those bank transfers cost far too much, and have considerable room for improvement in usability (are you listening BNZ?). Why are they not instant instead of overnight? The banks have a window of opportunity to shape up, or one of these guys or someone that gets it will take their business away.