Spending time with money: from shared values to social connectivity

Abstract

There is a rapidly growing momentum driving the development of mobile payment systems for co-present interactions, using near-field communication on smartphones and contactless payment systems. The design (and marketing) imperative for this is to enable faster, simpler, effortless and secure transactions, yet our evidence shows that this focus on reducing transactional friction may ignore other important features around making payments. We draw from empirical data to consider user interactions around financial exchanges made on mobile phones. Our findings examine how the practices around making payments support people in making connections, to other people, to their communities, to the places they move through, to their environment, and to what they consume. While these social and community bonds shape the kinds of interactions that become possible, they also shape how users feel about, and act on, the values that they hold with their co-users. We draw implications for future payment systems that make use of community connections, build trust, leverage transactional latency, and generate opportunities for rich social interactions.