DCBs frictionless nature makes it stand out as one of the most user-friendly payment methods out there, a clear indicator of its bright future. How annoying are all those coins jingling in your pocket or all those credit cards you need to dredge to find?
Wouldn’t it be great to pay for your daily morning coffee with your phone, which you are holding in your hand, checking out the latest news and social media posts while waiting in the queue?

Even though DCB records a steady year-on-year growth rate, it is still perceived as an alternative payment method, not always recognized by consumers. Whether the end user has a credit card handy, that is if he owns one, age or availability of other payment methods, are determining factors of the conversion. This boils down to the question: “What can be done to make DCB a preferred payment option?”

The rules for launching a DCB brand don’t differ much from any other brand. Before end users will complete their purchase via DCB, they first need to know that this payment method exists. The American Marketing Association defines a brand as “a name, term, sign, symbol or design, or a combination of them intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors”. In order to have a successful brand you must prove why end users should use DCB as their preferred payment option, secondly define the right logo or symbol so that you can transport your brand visually. The last but very important step is to have a clear strategy how to communicate your brand.

In a pioneering spirit some European MNOs have already realized that the investment in brand awareness and brand recognition of a payment method is of crucial importance in order to convince people to repeatedly choose DCB for their payment transactions. A brand with strong brand recognition can significally help DCB to stand out from the competition and generate recommendations to one’s friends and family.

A strong branding gives consumers the feeling of security and creates trust which is, especially in the payment business, very important. According Raconteurs infographic trust in a brand is the second most important factor when choosing a bank, even outranking the price. Due to the long-lasting contractual relationship end users have with their carriers, they are more likely to use DCB even if they are not as familiar with the actual payment method as they perceive the carriers as a trustful and legitimate companies characterized by credibility and trustworthiness.