Biometrics or paying with Google, two payment trends for this year

In recent years, shopping habits They have changed more than ever in recent years, either due to consumer behavior or the need to adapt to an uncertain future and influenced by a socio-health situation that does not stop changing.

Companies, therefore, must be prepared to respond to consumers who are looking for easy, fast and personalized shopping experiences, according to Sipay. A few years ago we saw unthinkable the option to unlock the phone simply with our face, but at present it is a common practice that users carry out in our day to day.

The rise of biometrics, which greatly facilitates the performance of numerous tasks, is already present in payments as well, since, Apple Pay or Google Pay allow users to authenticate using facial recognition to make purchases.

Likewise, in recent months we have already been able to see how some supermarkets and businesses, especially in the United States, have begun to allow payment through facial recognition, so it is expected that in a short time it will be a common practice in other countries.

Another of the great advances that we have witnessed lies in the great revolution of virtual assistants such as Alexa or Siri, which are sometimes already used to make transfers between people or to pay by card. According to a study by Business Insider Intelligence, 8% of American adults have already used some form of voice payment.

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pay with google

Therefore, sooner rather than later, consumers will frequently be using the phrases “I want to buy this product” or “I will pay with Google”. This last company has already developed a program of hands free payment, which allows users to pay by saying these words. The establishment’s staff will only have to request the consumer’s initials and verify their identity by means of a photo that the latter must add to the program. In this way, the amount of the payment will be automatically debited from the customer’s account.

All this would mean progress for businesses, not only in the field of modernization, but also in that of simplicity.

Undoubtedly, one of the most tedious aspects for users consists of in the checkout process, both in physical and online commerce. In the first, because you generally have to wait in long lines to be able to buy items, and in the second, because you have to enter a large amount of data and carry out additional verification processes that slow down the process.

In the United Kingdom, for example, there are already supermarkets that, through surveillance cameras They record all the items that consumers purchase and collect the determined amount when they leave the store. All this is possible since a previous registration of the customer’s card data has been carried out. Tokenization will play a crucial role in seeing this initiative regularly in the future.

On the other hand, and following this trend, for example, the transportation company Uber has begun to charge its customers online, allowing users to book a trip and have their bank account automatically charged at the end of the trip.

Being able to manage purchases without having to go through a checkout process would undoubtedly be a paradise for all sellers, since it would not only provide consumers with greater speed, but would greatly reduce their pain of paying.

Payments in the metaverse

Originally, the metaverse was defined as the environment to play virtually against other players or against the machine itself. What initially emerged as a virtual universe for entertainment, over the months is evolving into a parallel world made up of customizable avatars, for example, with items of clothing.

The great evolution of this technology has caused companies to want to be part of this project, replicating their current business models in virtual shop windows. Therefore, the metaverse has gradually become a metamarket where businesses can sell their products.

Ultimately, there is no doubt that for the acquisition and satisfaction From these new demands, forms of payment must be developed that guarantee a secure environment and that, in a short time, will constitute the bases of the payment sector system.

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