New Mastercard Retail Solutions Promise Frictionless, 'Low-Touch' Checkout
Responding to growing interest in contactless retail payment during the COVID-19 pandemic, Mastercard announced artificial intelligence-based solutions it said Friday will deliver “low touch, high engagement” shopping experiences. Mastercard’s Shop Anywhere platform is designed to speed the shopping experience by…
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“eliminating existing points of friction through robust inventory and participating shopper analytics.” Consumers benefit from no waiting, no checkout lines and secure payments, said the financial services company. The platform gives shoppers access to stores outside normal operating hours if selected by the retailer, in addition to exclusive merchandise. “As retailers and consumers navigate through one of the most disruptive periods in modern history, it’s clear that traditional business operations will need to evolve quickly,” said Stephane Wyper, Mastercard senior vice president-retail innovation. Shop Anywhere can be deployed in shopping malls, airports, grocery stores and apparel outlets, said Mastercard, with live pilots beginning in October. It's also delivering an AI-powered drive-through platform in partnership with SoundHound and Rekor Systems that uses vehicle recognition and voice ordering.