Are Biometric Payments Your Business’ Future Payment Solution?
Mastercard is rolling out a new scheme of biometric payments – as part of their efforts to create more enjoyable shopping experiences for their customers. Customer’s transactions will (literally) be as simple as smiling for a camera or waving your hand to a reader. From swipe and tap to smile and wave – payments will be more seamless for your business than ever.
Has “Pay With A Smile Scheme” Launched in Britain?
The scheme has not been officially launched in Britain. Some trials are going on in Brazil followed by Asia and the Middle East afterward. This evolutionary internet innovation is expected to create a breakthrough as the simplest payment solution for frequent purchases. If the trials succeed, it expected to attract more positive outcomes for early adopting businesses, such as customer satisfaction, less queuing and higher productivity. Since the technology has not yet arrived, this could be the time for reflection – how much effort have you put into your organisations customer journey?
“Pay With A Smile Scheme” As The New Internet Innovation
In 2021, Juniper Research indicated that global contactless card transactions will grow up to 6.8 trillion by 2026. The trends also increased over time, as Dentsu mentioned that 74% of global customers have a positive attitude toward biometric technology. After video calls, on demand movie platforms, and smart home innovations, the internet leads us to this new next-generation payment technology for businesses around the globe.
This “Pay With A Smile” internet innovation is targeted to benefit all parties. The seamless procedure is crafted for both sides of buyer and seller. As a business, it is important to differentiate yourself and stand out in your customers’ eyes. It can also become an alternative for your fraud control issues and chargebacks, making your business run more effectively.
Should I Consider “Pay With A Smile Scheme” For My Business?
Almost twenty years ago, biometrics were mostly restricted. Fingerprints, DNA, and facial recognition were limited and didn’t really grab our attention. Today in 2022, biometric technology has evolved and become part of our daily lives. Internet innovation is developing at an amazing rate and keeps on leveraging and developing new technologies.
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