PAYMENT SOLUTIONS that even industries that haven ’ t embraced the digital transformation as fully as others , will be forced to rethink their strategies . “ Mastercard research shows that 42 % of consumers are more likely to stay with an insurer that pays within minutes . As consumer expectations rise , organisations – including the insurance industry – will have to adapt if they are to retain their business .”
Sharma predicts great innovations are to come in the digital payments sector – many of which will be launched this year . “ Another solution we ’ ll continue to see grow is connected commerce and in-vehicle payment systems ,” he says .
“ Connected cars will soon have payment mechanisms incorporated and will use saved payment methods for tolls , gas or even
“ Another solution we ’ ll continue to see grow is connected commerce and in-vehicle payment systems ”
KRIS SHARMA FINANCE SECTOR LEAD , CANONICAL
drive-throughs without the user having to lift a finger . To this effect , frictionless payments will grow exponentially as industries that are less payments-oriented look to incorporate a frictionless payments experience for their customers .
Sharma adds , “ The mobile Point-of-Sale ( or mPOS ) market will continue to grow because it enables retailers to speed up the checkout process and reduce queues and lines – critical as society looks to transform in the aftermath of COVID-19 .”