As we close out 2021 and begin 2022, we see a retail landscape that’s very different than it was two years ago. The global COVID pandemic served as a catalyst for the evolution of how consumers prefer to shop. For example, Accenture predicts an increase of 169% in online purchases from new and low-frequency users. This is just one example of how consumers have pushed toward the convenience of digital services to fulfil their shopping needs.
Imagine you are watching a basketball game at a sports stadium. During the break, you go to the concession stand to buy some snacks and beverages for your kids. You walk up to the counter, pick the stuff you need want and simply walk away without waiting in any lines – your payment is automatically deducted from your credit card! Examples of what I just described already exist with use cases from Amazon Go stores or the TD Garden concession store in Boston. Making payments frictionless is not some marketing gimmick, instead, it is about making payments easier and seamless for the customers; who doesn’t want to skip the long lines?!
