IDEAS home Printed from https://ideas.repec.org/a/aza/jpss00/y2008v2i2p150-158.html
   My bibliography  Save this article

How to win in an area commonly perceived as a commodity business: Practical advice from one product manager's experience

Author

Listed:
  • Wiles, Thomas H.

Abstract

American Express Bank (AEB), operating in an area frequently referred to as a commodity business, has consistently achieved growth rates several times that of the market as a whole, launched award winning products, and is consistently rated among the best providers in terms of customer satisfaction. This paper shares the author's views on the payments business and discusses specific approaches that contribute to developing winning products. The reader will learn that, while an individual payment may be a commodity, with the right perspective the payments business does not have to be. An effective product manager can avoid a commodity mindset by always keeping the customer's perspective in mind. In this practical exploration into the world of payments, filled with specific examples from the author's experience as a Global Head of eBusiness Development for Financial Institutions Group of AEB, the author suggests three rules that will serve a product manager well in achieving the customer's perspective: (i) perpetually ask 'Why?'; (ii) focus on what people do, not what they say; (iii) address tomorrow today.

Suggested Citation

  • Wiles, Thomas H., 2008. "How to win in an area commonly perceived as a commodity business: Practical advice from one product manager's experience," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 2(2), pages 150-158, January.
    • Handle: RePEc:aza:jpss00:y:2008:v:2:i:2:p:150-158
    as

    Download full text from publisher

    File URL: https://hstalks.com/article/3631/download/
    Download Restriction: Requires a paid subscription for full access.
    File URL: https://hstalks.com/article/3631/
    Download Restriction: Requires a paid subscription for full access.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Payments; cash management; international payments; product development; online payments; Web payments; Internet payments; customer's perspective;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aza:jpss00:y:2008:v:2:i:2:p:150-158. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Henry Stewart Talks (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.