The payment services market has been developing dynamically for several years. Many international companies from various economic sectors are introducing increasingly innovative payment methods. Their goal is to make it easier for customers to purchase various products without having to carry a wallet or even a phone. The introduction of new payment methods primarily focuses on finding items that enable payment, which, ultimately, will always be with us. Therefore, a new category of payment methods has emerged (so-called wearable payments), which encompasses anything that can be considered clothing or an item of clothing. Of course, many of these products have long enabled payments. Watches are one such item. However, this group is growing every year. Recently, Curve, in collaboration with Digiseq, introduced new payment options. Starting this year, Curve app users can make payments using jewelry, keychains, or shirts. Furthermore, paying with these items will no longer require a battery.
Another company that has decided to meet the needs of its customers is Mercedes-Benz. This month, the German automotive giant introduced a new feature to its cars. This is called Mercedes Pay Plus, which allows Mercedes car owners to make payments using a fingerprint reader, allowing them to purchase Mercedes products using just their finger, without having to enter a password or code. As highlighted on the Mercedes-Benz website:
"Payment processing directly from the car is an essential aspect of an exclusive and seamless customer experience. The global Mercedes pay ePayment platform allows customers to order and pay for digital add-ons, hardware and software updates directly from their car."
At the moment, this option is only available in Germany, but there is no doubt that it will soon be available in other countries, including Poland.
The above innovative payment methods demonstrate the growing trend of abandoning traditional means of payment, such as cash or even cards, and replacing them with new, technologically advanced solutions. Businesses introducing new payment methods should certainly prioritize the security of their customers. Appropriate security measures should be particularly important for those that don't require a password or code to confirm a transaction.
This alert is for informational purposes only and does not constitute legal advice.
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