Commerce changes slowly, then quickly. Bricks and mortar give way to clicks, and channels blur.
Commerce is now online, and always on. Standards emerge, too. One standard emerging is that of Secure Remote Commerce, backed by Visa and Mastercard.
Rambus CTO Chakib Bouda told Karen Webster that big change is coming via Secure Remote Commerce, though it might take a bit of time.
In general, consumers need not enter data again and again at each merchant stop where they conduct commerce. Eliminate the friction, the philosophy behind SRC holds, and top lines sprout.
Bouda told Webster that merchants have several methods of keeping cards on file, and there is indeed standardization in trying to keep data safe, through PCI DSS (short for Payment Card Industry Data Security Standards). But the interfaces, the interactions amid websites and browsers and mobile apps … well, a fragmented landscape benefits no one.
Said Bouda: “We’ve neglected the browser-based eCommerce, and now people are focusing a lot on it.” The key is interoperability between players in the ecosystem. Solve an existing problem of interoperability, for consumers and merchants alike, and top lines grow.
Merchants, too, benefit from standardization. Bouda stated that the entire ecosystem is streamlined in terms of time and money, as SRC remains platform-agnostic.
There are so many buttons, Webster and Bouda agreed in Beyond the Buzzword, that eCommerce can become downright confusing. The ideal situation, said Bouda, is that there should exist a single button or maybe a few buttons. Those buttons would all be consolidated, via, say a drop-down function, to make it a lot easier for consumers to purchase things online.