In today’s world, a sustainable payment infrastructure is a frictionless one. In Mobile Commerce 1.0, that meant consumers could make purchases on their phones anytime; now we’re well into Mobile Commerce 2.0 – in which we can pay for real-world goods and services while inside the business’s app (think Uber or Starbucks). Today’s marketplace is everywhere, all the time, and invisible.
Frictionless payment moves the consumer through stress-free shopping and checkout: accurate, fast; no unnecessary information required. Consumers value that speed and convenience, and as AI aids the development of social commerce and voice-activated devices, that immediacy will become table stakes for retailers.
