AI and IoT disrupt the global payments industry
The integration of virtual voice assistants like Alexa, Google Assistant and Siri into billions of consumer electronic devices has led to the emergence of a new form of AI-powered payments using voice command. Voice-activated payments are projected to see rapid growth between 2019 and 2023, according to a forecast included in the yStats.com report. In addition, a double-digit share of respondents to a recent survey were interested in paying via a connected car or a smart fridge, indicating that IoT payments will soon become more commonplace.
Biometric payments gaining traction, while cryptocurrency payments are yet to rise
The biometrics feature of consumer smartphones, like fingerprint or iris scan, is increasingly used in mobile payments to confirm transactions made with mobile wallets like Apple Pay, Google Pay and others. As a result, biometric payments are projected to increase at a rapid double-digit growth rate over the next five years, according to a forecast cited in this report. Another innovative payment method, cryptocurrency, has not yet gained much popularity as both consumers and merchants are wary of the high volatility of Bitcoin and similar virtual currencies. Nevertheless, more merchants are starting to accept this mean and a small double-digit share of connected shoppers show interest in using it.
Questions Covered in the report:
- What are the top innovation trends in global payments in 2019?
- How large are biometric and voice payments projected to be in 2023?
- What is the future of IoT payments?
- How large are the cryptocurrency payments to merchants in 2019?
- How many real-time payment schemes are there worldwide?
Key Topics Covered:
1. Management Summary
2. Biometric Payments
3. Voice-Activated Payments
4. IoT Payments
5. Real-Time Payments
6. Cryptocurrency Payments
- Alibaba Group
- Alphabet Inc
- Amazon.com Inc
- Ant Financial Services
- Apple Inc
- Banco Bilbao Vizcaya Argentaria SA
- BitPay Inc
- Facebook Inc
- Mastercard Inc.
- PayPal Inc
- Samsung Inc
- Stripe Inc
- Visa Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xzy4jg