Ruriko, on how she chooses payment methods:
"I like using Paypay because there's the feeling of striving for the higher cash back next month!" (30 transactions + 50,000 JPY spent = 1% next month, else 0.5%)
Me: "So you like that more than the 1% rewards card you have?"
"Yes!"
"I like using Paypay because there's the feeling of striving for the higher cash back next month!" (30 transactions + 50,000 JPY spent = 1% next month, else 0.5%)
Me: "So you like that more than the 1% rewards card you have?"
"Yes!"
Not a comment on rationality or irrationality, just a comment on user behavior in payments. Here is Paypay discovering that gamification is worth +/- $30 at 100% margin to this user per year.
That makes them, oh, ~10X more effective at selling her video games than the entire Japanese gaming industry, which is sort of impressive when you think about it.
"Patrick don't you use Paypay?"
Yes, because I'm pathologically susceptible to the trade "We will take your brand loyalty by making something where you feel like you are getting rewarded economically even if it is obviously a silly allocation of brainsweat."
Yes, because I'm pathologically susceptible to the trade "We will take your brand loyalty by making something where you feel like you are getting rewarded economically even if it is obviously a silly allocation of brainsweat."
(I fill my Paypay with 1% rewards card via being a Softbank user w/ credit card on file then get 1% cash back from Paypay, which nets to 2%, which is higher than is easily available in Japan.)
Clearly this is not the highest and best use of my brainsweat when applied to the topic of, I don't know, payments infrastructure, and yet I did spend at least an hour hunting around documents to see if I'd find anything that their monetization PMs missed.
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