How would you measure the success of Mastercard's Tap and Go contactless payment feature?

Introduction

Measuring the success of Mastercard's Tap and Go contactless payment feature requires a comprehensive approach that considers multiple stakeholders and metrics. To effectively evaluate this product success metric problem, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Mastercard's Tap and Go is a contactless payment feature that allows users to make quick, secure transactions by simply tapping their card or device on a payment terminal. This technology leverages near-field communication (NFC) to facilitate fast, convenient payments without the need to swipe or insert a card.

Key stakeholders include:

1. Consumers: Seeking convenience and speed in transactions
2. Merchants: Aiming to reduce checkout times and improve customer experience
3. Banks: Looking to increase card usage and transaction volume
4. Mastercard: Wanting to grow market share and transaction revenue

User flow:

1. User approaches payment terminal with Tap and Go-enabled card or device
2. User taps card/device on the terminal
3. Transaction is processed within seconds
4. User receives confirmation of payment

Tap and Go fits into Mastercard's broader strategy of enhancing the payment experience and maintaining its position as a leading payment network. It competes with similar offerings from Visa (payWave) and American Express (ExpressPay), as well as mobile payment solutions like Apple Pay and Google Pay.

Product Lifecycle Stage: Tap and Go is in the growth stage, with increasing adoption rates but still room for expansion in many markets.