A new report from the NFC World team has found that Disney's new MagicBand bracelet system provides unmissable lessons for anyone planning, implementing or supplying mobile wallet solutions.
Disney Parks and Resorts' next generation customer experience sets a new bar for mobile wallet design and provides critical lessons for anyone planning, implementing or supplying mobile wallet solutions, a new report has found.
Disney MyMagic+ uses custom built RFID "MagicBands" linked to a mobile app, customer relationship management system and hardware infrastructure to provide visitors with a significantly enhanced experience when visiting a Disney resort.
Guests can use the RFID wristbands to reduce the time they spend queuing, maximise the value of their visit, interact with Disney characters, pre-book and access attractions, lock and unlock their hotel room and even make payments at specially designed POS terminals. And, at the same time, Disney can gain deep insight into how guests use its resorts, create tailored marketing programs and generate additional revenue.
"Disney MyMagic+ sets a new bar for mobile wallet service design and provides a blueprint for how businesses and government organisations seeking to leverage mobile wallet technologies should approach the task of creating a business model that works for them," says Sarah Clark, author of the new report and editor of NFC World and The Mobile Wallet Report.
"It also sends a clear warning shot across the bow of companies seeking to dominate the mobile wallet market by pushing others into conforming to their business model. Disney has implemented its next generation experience without the involvement of any third parties, and others will now wish to follow Disney's example."
Mobile Wallet Market Briefing: Disney MyMagic+ provides readers with a detailed overview of the MyMagic+ concept, the technical architecture employed and the ways in which Disney is likely to be able to profit from its investment. The report concludes with an analysis of the lessons that can be learned from MyMagic+, organised as eight key takeaways:
- The MyMagic+ system is totally under Disney's control — and where Disney has gone, others will want to follow.
- Total management buy-in at the highest level is essential for success.
- How an organisation chooses to close "the last inch" — to identify the customer at the point of sale, access or other point of service — is the last bit of the jigsaw puzzle that should be decided.
- Maintaining customer trust via stringent data privacy policies can be a core part of a mobile wallet strategy.
- Payments terminals need to be able to accept a wide range of solutions.
- A well designed mobile wallet solution can extend customer engagement beyond a resort, retail store, bank branch and more.
- MyMagic+ turns a spotlight on the reasons why mobile wallets are taking so long to gain merchant, bank and other service provider acceptance.
- The MagicBand concept will reignite debate over the importance of issuing a physical card or token in building a customer relationship.
This new 52-page report is part of The Mobile Wallet Report, the business intelligence service for NFC and mobile payments executives, and is included free of charge with an annual subscription.