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The Smarter Way to Pay – Go Invisible
Banks are going all out to reinvent the experience of making payments
The payment experience is evolving. For instance, ecommerce sites like Amazon.com and service providers like Uber are enabling seamless payment methods that have helped make the payment ‘invisible’, while enhancing the customer experience. As a result, customers are increasingly demanding hassle-free payment experiences and retailers are responding by expanding the array of innovative payment methods. Financial institutions too have recognized that introducing innovative payment solutions is a business imperative; in fact, some banks are already running pilots. However, before embarking on a full-fledged implementation, banks must
- Evaluate the customer journey and assess how they can provide value and support
- Identify and address tech challenges
- Explore opportunities and use cases
- Pay extra attention to system security
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