Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.According to a recent Mastercard global consumer study, more consumers are using contactless cards or their smartphone to make payments, noting a large increase in the use of digital wallets.
The future is being brought forward, in large part, by the rapid consumer adoption of touchless transactions. They've become the new norm across much of the world as people have looked to safe and efficient ways to pay during the pandemic. According to a recent Mastercard global consumer study, 54% of consumers say they have increased usage of a contactless debit or credit card and 44% say they are tapping a smartphone mobile wallet or digital wallet more since COVID.
This interconnected future will rely as much on consumers' eagerness to embrace it as it will the willingness of small businesses, banks, and governments to invest in the needed cybersecurity layers. All IoT devices and the links between them must be fully secure, data privacy measures must meet the highest standards, and individual identity data must be fully protected.
This will decouple transactions from cash registers and give merchants the ability to create whole new ways of interacting with their customers across their shopping experience. In another example, when a customer enters a store in search of a bike, the salesperson can use a mobile device to serve as a personalized guide through the buying experience. It can scan QR codes on the bikes of interest, line up the features, and educate the customer on his options.
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