Will facial pay technology be the next stage in mobile payments?

Facial Pay - mobile payments with face ID

Will consumers and businesses be willing to adopt it and how will their privacy be secured? The technology for facial pay already exists. That said, developing a transaction method and encouraging individuals and businesses to use it are entirely different challenges. The tech uses mobile payments that verify transactions using an individual’s own face. The idea behind using facial pay technology is that a person would be able to walk into a store, pick up the desired items, then look into a camera at the checkout area to confirm identification.…

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Will the novel coronavirus lead to a positive mobile payments trend?

Mobile payments trend - paying via smartphone

Usage has been slowly picking up in the western world, but contactless transactions may rise in appeal. When examining mobile payments trend data in North America, it’s clear to see that there isn’t much of a rush toward consumer uptake. Usage is increasing more rapidly now than it has since the beginning, but a factor has arisen that may speed the appeal of this type of transaction: COVID-19. Consumers hesitant to try the technology may start finding contactless transactions more appealing. As the novel coronavirus makes its way around the…

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US mobile wallet use is about to become greater than credit card usage online

Mobile wallet use - mobile payments

The slow adoption of m-payments in the United States is finally taking off to mainstream levels. Mobile wallet use in the United States has been slow to take off, particularly when compared to countries in Asia and Europe. That said, the use of m-payments has finally started taking off and will eventually overtake credit cards. The adoption rate for mobile wallet use in the U.S. is rising. A new F.I.S. report predicts that the use of smartphones to complete online payment transactions will overtake credit cards. This is an important…

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Home Depot has broken records as an interconnected multi-channel retailer

Interconnected multi-channel retailer - Home Depot Store

The American building materials and garden supply chain has used online tools to great advantage. The Home Depot’s strategy to become an interconnected multi-channel retailer allowed it to break records at a time of very limited growth in its category. The building materials and garden supply retail sector in the US grew by 0.6 percent from 2018 to 2019. During that same span of time, Home Depot managed to grow its revenues by 1.8 percent overall. In 2018, its revenues were $108.2 billion whereas that figure rose to $110.2 billion…

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7-Eleven mobile payments project launches cashierless store

7-Eleven mobile payments - 7-Eleven Store

The shop, located at its headquarters in Irving, Texas, has opened its doors in pilot mode. A unique 7-Eleven mobile payments project has led to the opening of the brand’s first ever cashierless store. The shop, located at the headquarters, is already operational and is open to company employees. So far, the 7-Eleven mobile payments project is in a pilot phase of testing. The first cashierless store is in Irving, Texas, at the 700 square foot headquarters store. Only company employees are able to shop at the location for the…

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