The Latest Payment Technology That Will Blow Your Mind.
Payment Technology has now expanded to an unbelievable height as payment can now be made not just from your payment cards alone but from items like your cars, smartphones, smartwatches, even from your fridge at home and your personal Face.
Mobile World Congress 2016 saw the world tech leading payment company unveil to the world what is projected to be a turnaround on how we can be making payment in the nearest future.
In the words of Jason Oxman, chief Executive of Electronic Transaction Association, “We’ve seen an incredible pivot away from the magnetic stripe on a back of a credit card and toward imagining every device as payments-initiating device, including a car, a refrigerator, a watch, a phone and everything in between” he said.
Visa used this year’s MWC to show the world how a car can be connected for payment so that it can use to pay for parking or for gas gas stations using a simple payment chip built inside the vehicle.
The Payment Technology didn’t just end with cars alone as Visa’s Senior Vice President of Digital Solution further stated “If it has connectivity, there’s a potential that somebody might want to use it to pay, whether it’s a watch or a raincoat.
Payment Technology Market
The expansion of Payment Technology development is not just restricted Visa as telecom giants like Google and Apple are still pushing using mobile payment option. This option includes; Smartphone watches and more.
The Recent launch of Samsung Pay is one of the mobile payment solutions.
Payment Technology is not just about mobile technology as users can now make payment from their Home Fridges.
With this smartfridges, users can make payment for groceries from the comfort of their kitchen.
Though not yet popular, but this has just come to stay.
Google has also unveiled plans to launch it new payment option called “Hands Free” that will users make payment verification with their face or photos and their initial.