| | OCTOBER - 20178CIOReviewDELIVERING NEXT GENERATION PAYMENT SOLUTION TO IMPROVE CUSTOMER EXPERIENCEThe Future of the Payments Experience The best payments experience you can have today is one where the payment itself is entirely invisible. We pay for our Uber simply by getting out of the car; we buy our groceries on Amazon by talking to a connected device or pushing a button. There was a time when paying with a fingerprint--or via iris recognition or specialized hardware like rings, bracelets, or the like--was considered cutting edge; but now, we are realizing that the next evolution of payments will be an invisible one. Consumers will likely not coalesce around a single payment modality, nor will they tolerate a fractured experience or unfulfilled promises. As we can see from the failures of PLSTC, Coin, Stratos, Swyp, and the forthcoming FUZE--which is almost sure to go the same way for all the same reasons--consumers are looking for greater convenience and control. And while those one-card solutions held great promise, they left too many promises unfulfilled. Those products failed because they were trying to solve a problem that almost nobody really had. The problem they solved was "I have too many cards in my wallet" and the solution was "one card that contains many cards." The real problem is that point-of-sale payments are actually lagging in the market when it comes to the experience of in-app purchases or the card-on-file experience we get with Uber, Lyft, Amazon, or others. Those payment solutions By Brian M Ziff Levine, Senior Director-Cards & Payments, First Tech Federal Credit UnionIN MY OPINION
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