Huge growth potential in India’s digital payments sector: Manmeet Vohra, Visa
The Head of Marketing, India and South Asia, Visa, shares the creative insight and marketing mix for their recent campaign and more
The wide-scale incentivisation of online payments and use of data to create a seamless experience highlights how adoption of digital transactions will only be pushed forward. Around a similar insight of making online payments easy, Visa recently launched their ‘Look-Tap-Go’ campaign. exchange4media caught up with Manmeet Vohra, Head-Marketing, India and South Asia, Visa, to find out the creative insight and marketing-mix allocation for the campaign and more.
Here are the edited excerpts:
Tell us about the creative insight behind the campaign? What was your creative brief to the agency?
The objective of the campaign is to drive awareness and education about contactless Visa cards by reinforcing messaging around the product and its benefits. Through this campaign, we are highlighting merchant categories for contactless cards such as super market, QSR, coffee shops, fuel, cinema and shopping. We are also conveying the benefits of a fast and seamless payment experience and establishing contactless as the quick and cool way to pay. For transactions up to Rs 2000, consumers can just ‘Tap to pay’ using a contactless Visa card, without the need for any PIN or signature.
Any digital amplification plans with this campaign?
Films and static creatives of the campaign are being promoted on Visa India’s own social media pages as well as on other digital and social media platforms. The target audience is also being served contextual messaging at relevant moments.
How long do you plan to run it?
The campaign is planned to run for six weeks, until September.
How is the campaign in sync with your business agenda?
At Visa, we have always striven to make the payment experience of our consumers seamless and secured. As showcased in our campaign, individuals can now tap and pay through our contactless cards. This not only enables them to spend their time more qualitatively, but also enables merchants to lessen transaction and queues, thereby leading to a much better quality of service and reduced cash handling costs.
What is your marketing plan for the campaign? Which are the areas where you have invested heavily?
This is a 360-degree ATL campaign with heavy media investments across national and regional TV channels, digital and social media, as well as OOH sites in premium malls.
For the campaign, what percentage of your marketing spends is devoted to digital?
We are investing upwards of 30 per cent of our media spends on digital and social platforms for this campaign.
Tell us about your focus areas and growth plans for Visa as we go forward?
To unlock Digital India, Visa aims to drive cash conversion through its core and emerging product offerings and partnerships with issuers and merchants.
What are your thoughts on the growth potential of digital payments market? How is Visa tapping into it and is positioned to benefit by it?
At 390 million, our country has the second-highest number of active Internet users globally. But only 40 per cent of them (160 million) transact online. Besides, the cash in circulation now is more than the pre-demonetisation levels, which means that the citizens are back to using cash as the preferred mode of payment. Hence, there is a trillion-dollar opportunity in India and a huge potential for growth for every player in the payments industry.
With the recent directive of the Finance Ministry advising banks to start issuing contactless cards, we believe that this move will take our country a step closer to achieving its target of 30 billion digital transactions in the current fiscal year.
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