Last week I was at Mastercard’s Tech Hub in New York City where I had a firsthand look at some innovative things that Mastercard is working on that is going to change the entire payment or financial industry.
A few things that stood out to me are the innovative IoT products, VR, AR and conversational commerce.
An example where this can be applied to is in store. Think about a clothing store, the key decision moment happens in the fitting room. So, what Mastercard is working on is to bring digital into the fitting room where the mirror will become the interface to interact with. It will show the amount of stock in store or online, it will give recommendations, have an embedded cart, so you can just pay right there and even have your items shipped to your home. All of this done from the fitting room.
Another feature that they are working on is called the “always on store.” This is about bringing the checkout experience at the window when a store is closed. Payment will be done by NFC or app based.
One other example to whet your appetite further of what to expect in the future from Mastercard is AR enabled shopping. It is about walking around in a physical store and interacting with items in the store.
Mastercard is working to make payments much easier. Bringing us the convenience and ease of shopping as well as saving time.
Thanks to Debbie Barta from Mastercard for sharing the exciting news with us.
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