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. https://blog.thalesesecurity.com/2019/04/25/the-future-of-payments-frictionless/
blog article
THE FUTURE OF PAYMENTS? FRICTIONLESS
The financial industry has been turned on its head over the past 10 years. The emergence of fintech players like Stripe, Square and PayPal have pushed banks to innovate in ways they haven’t since the ATM was implemented. With an estimated $500 billion retail market spend per year, what’s next for the payments industry as a whole. The answer is frictionless payments. Consumers today live in the world of Amazon and online shopping and the need for effortless speed is ever-growing thanks to the retail giant. First it was speed of delivery, then it was speed of ordering and now it is speed of checkout. Cashierless Amazon Go stores have popped up in several locations featuring self-checkout and mobile payments. With more and more stores adapting to the Amazon model to give customers unique experiences, are they keeping security in mind? Security as Frictionless as Checkout. When companies attempt digital transformations, the rush to implement new technology sometimes overshadows full consideration of risk. For example, in our annual Data Threat Report we found that 97% of respondents are storing sensitive data in digitally transformative environments, but only 30% are deploying encryption. READ MORE