The biggest challenge
facing the E-commerce industry is not growth but securing growth; validating
customer's security is the main challenge. The attention span of the shopper is
now in single digit (seconds) cycle and the service provider who can shave this
time down will emerge the winner. The formula-car engineering paradigm is being
accorded the highest priority.
Payment Asia review is
used more to quantify metrics of customer experience by this leading payment
service provider Payment Asia. They are experimenting with other modes of experience as is
Alipay the Chinese giant with facial recognition. Biometrics is already a part
of emerging technology with Applepay including the technology; they have a
disadvantage of using this fingerprint technology only on their devices (that
run the iOS); with over 65% of the world on the Android platform fingerprint
biometric needs better adoption. MIT Labs has succeeded in gesture technology
such as Gestures Everywhere that involves gesture recognition classifying
movement such as signature in the air. The concept is simple and brilliant. It
has been proved that signature of a person is unique and distinct. Paymentasia has
always identified secure transactions as the primary driver in their
strategies.
Imagine the following
scenario. You want to buy the latest smartphone by gesturing at the app, AI
(artificial intelligence) algorithm presents you a choice understanding your
present need is a smartphone (based on earlier searches and through social
media integration). From a drop down list you gesture at the device and proceed
to checkout. You blink your eyes three times (for iris biometric) close to the
camera on the phone and air signature gesture (for validation). The payment is successful,
a message is instantly relayed to a waiting drone that takes off, and within 30
minutes, the drone gently airdrops the package containing
your phone. You gaze into the hovering drones’ camera for confirmation and the
drone takes off. This is not science fiction. The technology is already tested;
it is only waiting for government regulators to assess how much they can levy atax for the service.
Related Source: https://paymentasiareviewshonkong.wordpress.com/2016/11/11/challenges-facing-payment-solutions/
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