Payment industry – especially recently – evolves really fast. Just read some headlines on any of the news sites: “Squareup.com is going to…”, “NFC in new model of smartphone…”, “PayPal is buying…”, etc. That’s why I think right now is the best moment to talk about the future of this industry. So, where is the payment industry going?
Right now we can consider and talk about three possible (or maybe better – obvious) directions.
Your fridge is going to accept your card
Try to imagine such situation: you have a fridge, which can check what’s in it and what’s needed. Then this fridge buys all the needed things using your credit card and asks for a delivery to your home. Science fiction? Not really.
Now imagine other machines in your home with similar functionalities. Dishwasher, washing machine or even a lamp in your kid’s room (light bulbs can always burn out).
Card-present transactions without touching anything
Mobile payments, NFC, contactless payments… these are trendy topics nowadays. They won’t replace “traditional” card payments, but surely will become more popular in the following years.
But why? This kind of stuff is for geeks. Well, sure, but it turns out that people like these kind of geeky things. They like gadgets. That’s why they’re going to love NFC and any other contactless toys. Especially once we can hear about the things like that.
Payments gone crazy
Yeah, there’s lot of creative ways for using credit cards online. Most of them are simply for fun. But is this bad in any way? Everyone likes to have fun. That’s why someone has to fill this niche. And I bet that there will be lots firms, which will find a chance to earn some money in this business.
Do you agree with me?