| | OCTOBER 20198CIOReviewWhat do you think of when you hear the word wallet? Probably a classic leather rectangle, full of cash and cards? But what did you use for your last purchase? What will you use next? I'm not breaking new ground here; you know as well as I do that payments look different today than they did five, 10, or 50 years ago. What's impressive is the rate of change.Adoption rates are exponential in our connected world ­ and retail is right in the thick of it. Purchasing increasingly occurs through devices and on demand. According to joint research from the National Retail Foundation and Forrester, 83 percent of retailers describe themselves as multichannel in 2018, and 40 percent listed omnichannel scenarios as a top priority over the next 18 months. Leaving the house without card or coin, once unthinkable is increasingly tenable and soon to become an expectation as the future generations set the pace. Even within the traditional wallet, credit cards are equipped with contactless payments technology, and gift cards can be loaded digitally. Countries are also phasing out the penny.A LEGACY OF INNOVATIONInnovation is in InComm's DNA. Brooks Smith has evolved what began in 1992 as a prepaid calling card company into a global payment giant with 369 patents and 500,000 points of distribution, transforming commerce with payments technologies and solutions across a broad swath of industries. I joined InComm in 2018 because of the promise of further disruption and advancements in the payments field; because I saw in Brooks a true innovative spirit, and I couldn't turn down a chance to join the revolution.The era of commerce we're entering, as I've mentioned, is evolving rapidly. The impact of contextual business ­ the seamless implementation of purchase opportunities into everyday activities and natural situations ­ is felt by brick-and-mortar retailers, who are continually adapting to keep By Mark Holt, EVP, Chief Information Officer at InComm, and technology disruptor.FROM OUR STUDIO TO YOUR WALLET: ON THE PULSE OF PAYMENTS INNOVATIONSMark HoltIN MY OPINION
< Page 7 | Page 9 >