Dear MEL
Topic Readers,
The
invisible credit card of the future
Barter
to currency, and currency to personal credit or debit. Also, metal coins to
paper banknotes, and to plastic cards. In stores, the cash register to the
bar-code scanner, and soon the microchip reader. How will you be paying or
completing your transactions tomorrow, whether instore or online?
It is
predicted that all of personal payments and transactions can be integrated into
one digital wallet, such as cash, bank accounts, credit or debit cards, or even
reward points earned from your purchases. But how? Many smartphones users are already
enjoying the convenience of mobile payment platforms like Alipay or Apple Pay. And
now credit card issuers are also working on developing wearable devices such as
a ring, bracelet or even eye scanner to replace plastic cards they’ve making
business of for the last half century.
While the
benefits and convenience of new payment methods are going to be enjoyed by
consumers, there will be new and serious battles between tech companies and
banks because the integration could create a zero-sum game.
Enjoy
reading and thinking of benefits, convenience, and also the risk of privacy and
security when everything is integrated into one account or device.
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