IS THERE A LIMIT TO HOW FRICTIONLESS WE CAN MAKE PAYMENTS?

Описание: How frictionless will payments become? 💸

In our latest episode of “All About Payments” Marek Buenting talks about Amazon and their newest touch-less payment offering enabled through Alexa at more than 11,000 ExxonMobil Stations in the U.S. 🇺🇸

Check out the video and let us know whether voice payments at checkouts are something, you look forward to? 🤔

Transcript: - Is there a limit to how frictionless we can make payments? And how quickly are we approaching this landmark?

Consumers' unquenchable desire for “convenience” has been a key driver and opened many doors for payment innovation.

Currently, the world is rapidly moving towards a place where contactless (mobile) payments have been massively adopted too, and are accepted everywhere. But is it good enough?

It is very well possible that the Pandemic has “kickstarted” a new phase in payments innovation. One where AI-powered voice payment methods could become the new norm.Or perhaps we're innovating to such extend that “the act of paying” happens consciously for the consumer, with zero transactional related actions have to be initiated to pay.

Why are we discussing the future from this perspective? Amazon Pay is not shying away and building the fundaments for this “future complete frictionless” with its newest touch-less payment offering enabled through Alexa at more than 11,000 ExxonMobil Stations in the U.S. 

“Alexa, pay for gas” is all you need to say… Alexa confirms the location and pump number of the station at which point Fiserv’s digital-commerce technology will activate the pump and perform token generation to ensure the payment process is secure.

The partnership between ExxonMobil, Amazon, and Fiserv to build pay-at-the-pump with Alexa was first presented in January at the annual Consumer Electronics Show. 

Voice payments have been introduced as a true touchless payment experience. This technology has already been on the rise before the pandemic hit but now more than ever people are seeking ways to answer the big question “how can I pay without touching anything?”

The survey “How will we pay” conducted by Visa and PYMNTS showed that more than three in 10 consumers own voice assistants, compared to just 1.4 out of 10 in 2017.

Will this frictionless experience attract the interest of consumers and is this the next big thing we should expect when paying at the drive-through?
Let us know what you think in the comments down below!

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