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Ultimate ordering system: integration with daily processes NOT separate solution

The ‘Internet of everything’ wave of developments sweeping the consumer space is showing how the cash and trade management business suppliers need to integrate the placing of orders into the day-to-day processes of their clients.

Ordering directly

MasterCard and Samsung have launched Groceries by MasterCard, a new app which enables consumers to order groceries directly from Samsung’s new Family Hub refrigerator.

The first shopping app integrated into a refrigerator, Groceries by MasterCard connects consumers to leading grocers in the most convenient and efficient setting – their kitchen. Groceries redefines the family grocery shopping experience by allowing households to share, build, manage and modify their grocery lists and shopping carts throughout the week, see figure below.

Source & Copyright©2015 - MasterCard 

The new Groceries app by MasterCard was developed by MasterCard Labs and Samsung and will come preloaded in Samsung’s Family Hub refrigerator - one of their largest fridges. Consumers will be able to shop and select their needed items and favourite brands from leading online grocers.

Items are added to a cart and the final shopping list is approved with a 4-digit pin, providing control over household purchases. Items are then paid for in a simple, single checkout experience that accepts any US-issued credit and debit cards. Orders are delivered directly by the merchants and are not dependent on a third-party or concierge service.

Learning shopping habits

Not surprisingly the Groceries shopping cart will also learn a family’s shopping habits, making personalized suggestions on items and brands. MasterCard plans to roll out new features, including recipe and video integration. As the rollout continues in 2016, additional grocers will be added to the Groceries app through MasterCard’s partnership with MyWebGrocer, which provides e-commerce and digital marketing solutions for more than 130 grocers across the globe and over 500 major consumer packaged goods brands.

And they will also learn how many clients ignore the system and just scribble a shopping list and run to the corner store.

CTMfile take: This new app shows how the cash and treasury management business should aim to be deeply integrated with key hardware and processes/systems in their clients’ day-to-day lives, and at the same time also cater for the disorganised clients. It’s not easy, but the rewards are huge.

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This item appears in the following sections:
Dealing & Trading
Dealing & Trading Platforms
Working Capital Management
Procure-to-Pay Cycle in WCM

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