Reducing Friction and Increasing Convenience: Examining the Natural Evolution of Digital Payments & Loyalty Programs
The number of digital wallets worldwide has grown from fewer than 2 million in 2016 to 2.8 billion in 2020. By 2028, a staggering 74% of the global population will utilize a digital wallet*. Our host John Sviokla welcomed innovative product builder and former PayPal and Wells Fargo exec Dickson Chu to explore the latest trends, technologies, and strategies happening within the digital payment ecosystem.
They dove into loyalty systems, points, and behavior; explored the role of gamification and reward systems. Plus, how to enhance customer engagement and strategies around digital payments.
Dickson Chu brings over 30 years of experience as a senior executive and advisor to firms including Wells Fargo Corp, PayPal, Citigroup, BBVA, Computer Sciences Corp and Yahoo!. His functional expertise includes new product development, strategic partnerships, and go-to-market strategies.
He joined PayPal shortly after being acquired by eBay, Inc. to lead a new team to create the ‘off-eBay payments business’, which he renamed PayPal Merchant Service. Within four years as Global General Manager, the small team of twelve grew to over one thousand across six countries, became the growth engine for PayPal and by 2010 was 50% of PayPal revenue at over $1B, starting from less than $50M. He then created a new role at PayPal, Head of Global Product and Experience to align innovation, growth, and product development efforts across the company. In this role, he led product strategy, development and user experience design for the millions of PayPal consumers and merchant customers around the world.