Should I Blink or Not?
You may have heard about a new smart credit product known in the financial industry as “the contactless credit card.” It enables consumers to make purchases without having to swipe their credit cards, making it faster and easier to transact.
All the credit card companies are offering them… VISA, American Express, MasterCard. And some of the major banks are making their own push as well.
It’s interesting to look at the names being used. Visa is marketing its version as VISA Contactless… a name that is generic. American Express calls its version ExpressPay… a very straightforward, almost descriptive name. MasterCard goes by PayPass… also an intuitive name. So should we assume that using straightforward names is the common wisdom?
Not necessarily so. Chase comes out with its own proprietary card (that works on both MasterCard and VISA terminals) and calls it Blink. Now, Blink is a very different kind of name… evocative and distinctive rather than straightforward and intuitive. By the way, The Chase website for Blink is pretty cool.
IT ALL DEPENDS WHAT YOU INTEND FOR THE NAME TO ACCOMPLISH AND
HOW MUCH BRAND MUSCLE YOU PUT BEHIND IT.
So which is the better name… Contactless, ExpressPay, PayPass, or Blink? Everybody has their own opinion on what’s a good name. Selecting a name can be pretty subjective.
Time will tell which product fares the best. But there are some observations we can make about these names themselves.
Let’s start with VISA Contactless. First of all it’s pretty boring. I assume that VISA is setting the stage for its bank partners to rebrand their cards. The name (or word) “Contactless” is a pretty weak trademark, and without the VISA name attached, it probably isn’t protectable at all. In fact, I read about it on a Web site called “ContactlessNews.” But on the other hand, it requires very little consumer education and expense to explain what it’s all about.
What about American Express’s Express Pay? The name is more distinctive and protectable than Contactless. I would assume that American Express can register the name. However, there are a number of other trademarks for the ExpressPay name in financial services. Again, it is a pretty intuitive name that requires less effort and expense to educate since it so nicely reinforces the AMEX name.
PayPass? MasterCard seems to have locked up the trademark on this name. So I guess it is nice and proprietary… making their lawyers happy. It is also straightforward and intuitive. So, all in all, a pretty effective name. Too basic to be compelling, but unique enough.
Then we get to Blink. This is the kind of name that marketing people and trademark attorneys both love. At first blush, it has nothing to do with financial services, so it is very memorable, proprietary, and protectable. It stands out from the pack. It has a nice consumer-friendly and evocative quality to it. But it is far from intuitive. It requires a lot of marketing reinforcement to make it work.
So back to the original question… if the intention is to support the brand with significant marketing dollars, which is the best? If not, which is best? Unfortunately, this question has no answer. It all depends on what you intend for the name to accomplish and how much brand muscle you put behind it.
When I present names to the client, I like to give them a range of options… from straightforward to evocative… and help them to determine the implications of each direction. I believe that this is what name consulting is about.
So, to Blink or not to Blink? What do you think?