This Week’s Top Stories in Payment

The way of payment has improved drastically in the modern world, thanks to advanced technology. Nobody can deny how comfortable and convenient it has made our life. While we are talking about it, let’s look at the trending stories of this week about payment....

7 months ago

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The way of payment has improved drastically in the modern world, thanks to advanced technology. Nobody can deny how comfortable and convenient it has made our life. While we are talking about it, let’s look at the trending stories of this week about payment.

Siri

SIRI to Change the Dynamics of Mobile Payment Soon

Forget about going to the store to buy household items, and now you don’t even have to type and search it on the internet. Voice assistants are the new way of buying stuff online while your account-attached credit card pays itself. SIRI is a voice assistant that is only available on iOS devices, and people are telling SIRI what they want to buy, and it filters all the best products available.

However, people are not that comfortable with a voice assistant buying them stuff as of now. Good things take time as we all know. Most people are buying household items. The expected spend by 2022, on e-commerce voice, will be over $6 billion. It just goes on to show how advanced we will be in a few more years. Moreover, wonder what else’s left to see.

Amazon

Amazon Looking to Expand

In the mobile payment industry, Amazon always had the upper hand on everyone else. It’s also known as the leader in mobile payments. It has been in the news for quite a while now, because of the announcement of its expansion.

Amazon plans to expand their stores by buying some of the old stores, converting them to whole foods outlets. It is currently residing in 470 locations. In comparison to Wal-Mart, this is nowhere close. However, keeping in mind the stock and budget of Amazon, it can expand its physical presence a lot.

Sears closed around 120 stores last year. Also, it is reported that overall, up to 200 K-Mart outlets have shut their doors. Amazon could sense an opportunity here. With the name and reputation of Amazon, nobody would think twice before opting to go there. However, after seeing what Sears has done to K-Mart and others as well, owners of different malls all over the United States have gone in shock as to what may happen next. With all that happening, Amazon can benefit from all this with some expansions in one of the busiest areas. Sounds like a perfect plan!

Square

Square shows off its latest SDK

Since Square started, it’s known as one of the leaders in mobile payment. Square is also among the pioneers of mobile payment. Its recent launch has enabled users to add built-in app payments to future and current applications.

Its latest Software Development Kit (SDK) is said to create a complete payment card, which is an industry-friendly solution. It has received positive feedback from both iOS and Android users. A notable fact about this is that it’s released in specific countries, mostly in Europe. It’s said to be customized. It works by requesting the end user to input their credit card information easily.

Many of the big companies were provided with its beta version so the new SDK could be tested and most of them returned satisfied, which is not a surprise. It’s a new addition to the mobile payments app and would prove to be a significant achievement for Square if no issues occur later on.

While many of the leading mobile payment app developers are busy finding a way to invent something extraordinary, Square has not only come up with a unique idea but has also done it in style.


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Published 7 months ago