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Future of Payments Will Be Largely Invisible With Connected Devices

Imagine a future where you walk into a store, pick out the items you want to buy, put them in your shopping cart, and then just walk out of the store when you are done – no billing counters queues and no checkouts. This can be made possible by an array of technology innovations such as sensors, beacons, IoT devices, and a lot of innovative software. Interestingly, the future is already here, at least in some places – Amazon Go and Alibaba are already offering this experience.

Let’s go back a little bit. The first wave of digital commerce began with digital and mobile wallets such as Apple Pay and Samsung Pay, which allowed users to make payments using a mobile phone or a device. But the user has to initiate the transaction and complete a couple of steps.

The second wave started when Uber introduced invisible payments to its app. It became evident that the most convenient payment system is one wh ...

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