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Invisible Payments are driving more seamless experiences for customers everywhere. From just strictly transactional to more customer-service oriented run-ins, when payment processes involve less human interaction, the better they actually are. Just think about wearable devices, when it comes to a means of paying for transactions; this implementation is growing more frictionless. Disney has actually mastered the art of wearable devices for completing purchases at retail stores and restaurants.
What are Invisible Payments? The future of payments has the prediction of becoming invisible over time. Triggered by the needs and demands of the younger generations, the desire to run through the checkout line swiftly and efficiently is dire. Tokenization, sensors, camera, machine learning, mobile wallets, and data analytics have helped to create more frictionless transactional experiences. Invisible Payments are already happening through recurring billing processes, queue-less checkouts, and cashier-less checkouts.
Connected Commerce is Go
The payments transformation demands a clear need for omni-channel services. Connected commerce has harnessed the intelligence of IoT devices and sensors to help shoppers complete their purchases, with little to no intervention from the user. Cashier-less brick and mortar shops can use facial recognition to identify shoppers who simply take what they want and walk out all in good time.
Commerce within the IoT realm can help retailers deliver a more personalized offering for their shoppers, whenever and wherever the transaction is initiated on a device. Content and commerce must co-exist together to build better relationships and add value to the users’ experience.
It Just got Personal
From customized offers, real-time shopping history, specific customer-curated stock, and so much more, consumers almost expect to receive this sort of engagement with their favorite retail shops. Consumers will use their mobile devices and phones to research products, compare prices online, and even pay in-store prices to cut out shipping fees. Why shouldn’t retailers also take advantage of that technology to improve the overall customer experience?
As retailers advance towards connected commerce, security must go beyond the norms to ensure that the protection of their more info-rich environments is able to be maintained. When it comes to a technology asset like Artificial Intelligence, Machine Learning, Sensors and other IoT capabilities, they need to put on the grind in order to make invisible payments work. From processing purchases to making the actual decisions, consumers will seek a sense of dependence in knowing that they will be safe and secure through completing their transactions.