Thinking Beyond Apple Pay

There has been a lot of hype around Apple Pay since it launched earlier this year, but with retailers being slow to catch on and the increasing success of other branded Smart Phones, is tap to pay shopping really going to catch on?

More and more retailers are looking for ways to reduce the amount of friction at the tills. Self service machines – a staple to almost every supermarket chain – started the craze and despite the confusing interfaces and long waits for staff approval, the consumer has been put in control of their shopping experience, which reduces stress and frustration.

Fast forward ten years and we have seen little in the way of development from these machines, but experts predict that it will only be a matter of a few short years before the face of the high street changes completely and in turn the way we spend our money will also change.

Here is our futuristic look at how your ‘purse’ could look in the future:

Retina and Iris Scanners:

No you aren’t in a version of Demolition Man, this is reality. The scanners have been trailed in America, with versions shown at many tech shows in recent years. The technology scans and detects the retina or iris and links it back to the unique algorithm connected to your bank details and pays for the goods in quite literally the blink of an eye.

Fingerprint Scanners:

Biometrics isn’t exactly something you hear of every day on the high street, but with the increasing need to make transactions more seamless and easy, retailers could follow in the footsteps of the smartphone technology generation and use fingerprint recognition to pay for goods in store.

Quick Scan:

How would you feel if you were in a store, you could scan an item you wanted to buy on your phone and pay for it on your phone and walk out? Many I’m sure would feel very uncomfortable with not acknowledging at least a shop worker and letting them know you’ve paid, but if the future predictions are right, we could be doing this on a daily, or hourly basis.

Screenless ATM’s:

Without the need to jeopardise your security by punching in your PIN at an ATM, these screen less ATM’s work on a tap from an iPhone, which must be opened with fingerprint or security pin before hand, in order to dispense cash.

Loyalty Cards:

Carrying around several loyalty cards in your purse will be a thing of the past as technology surges forward with the introduction of loyalty apps. The schemes will also see a shift in the way they reward points, with many being focused on earning points through shared experience on social channels, aiding marketing and brand promotion. The move will not only help retailers to take a single view to drive personalisation of their in-store experience but gather information to help up-sell and find out more about their habits.

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