What does the digital edge have to do with payments? The answer lies in the fact that the world has gone digital, which is changing almost every aspect of how payments are processed. The digital edge is enabling payment providers to connect to their customers where they are, to deliver services that are fast and secure.
This rapid growth in interconnected commerce creates big incentives for companies to innovate, maximize technology or try out new business models. Here’s some of what we see coming in digital commerce in 2017.
A group of 45 Summer Games hopefuls, all sponsored by Visa, were given the wearable Visa payment ring to make purchases in and around Rio de Janeiro. The ring uses the same near-field communication (NFC) technology that enables users to make purchases with smartphones using “Pay” applications from Android, Apple or Samsung.
A single mobile payment transaction requires an unprecedented amount of interaction between distinctly different ecosystems. These interactions must be fast AND secure, requiring direct, high-performance, private interconnections among the various players.
Apple’s launch of the iPhone 6 and Apple Watch today included the announcement that both devices will be equipped with short-range wireless technology that enables their use in digital payments.