Consumers continue to want the ease that new technology brings, especially when it comes to payment options. This has only increased since the start of the COVID-19 pandemic. Financial institutions are inventing innovative ways to consumers to harness payment technology, such as touch-free payment options.
Watch: Harnessing in-Vehicle Payment Technology
Car manufacturers are integrating payment technology for services, such as food and gas. Scott Goddard, Sr. Manager, Commerce-Marketing Performance with Global Connected Consumer at General Motors, commented that the advantages of the new technology are enhanced customer experience, increased brand loyalty, and greater leverage of consumer insights data.
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Waving in Touch-Free Retail Payments: How Payment Technology Can Help Rejuvenate the High Street
The COVID-19 pandemic will have lasting impacts on retailers. There will be a greater emphasis touch-free shopping experience. “Finding creative ways to help people shop will be the way that high street retail innovates for years to come – and it will all be touch-free,” said Vince Graziani, CEO, IDEX Biometrics ASA.
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Australia’s Biggest Lender to Take on Afterpay, PayPal in Buy Now, Pay Later Race
Afterpay is a way for consumers to purchase items immediately and then pay it off over time. Recently, Commonwealth Bank of Australia became the nation’s first major lender to offer its own “buy now, pay later” service. Many other financial institutions have noticed the increase in popularity of this service and are starting to work towards offering similar services.
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