Global payment innovation covered in a new report by yStats.com

HAMBURG, Germany - July 18, 2019 - PRLog -- Yücel Yelken, CEO & Founder of yStats.com, shares the observation that "technology innovations like Artificial Intelligence, the Internet of Things and blockchain are rapidly transforming the payments industry worldwide".

AI and IoT disrupt the global payments industry

The integration of virtual voice assistants like Alexa, Google Assistant and Siri into billions of consumer electronic devices has led to the emergence of a new form of AI-powered payments using voice command. Voice-activated payments are projected to see rapid growth between 2019 and 2023, according to a forecast included in the yStats.com report. In addition, a double-digit share of respondents to a recent survey were interested in paying via a connected car or a smart fridge, indicating that IoT payments will soon become more commonplace.

Biometric payments gaining traction, while cryptocurrency payments are yet to rise

The biometrics feature of consumer smartphones, like fingerprint or iris scan, is increasingly used in mobile payments to confirm transactions made with mobile wallets like Apple Pay, Google Pay and others. As a result, biometric payments are projected to increase at a rapid double-digit growth rate over the next five years, according to a forecast cited by yStats.com. Another innovative payment method, cryptocurrency, has not yet gained much popularity as both consumers and merchants are wary of the high volatility of Bitcoin and similar virtual currencies. Nevertheless, more merchants are starting to accept this mean and a small double-digit share of connected shoppers show interest in using it.

For further information, see: https://www.ystats.com/wp-content/uploads/2019/07/2019.07.17_Product-Brochure-Order-Form_Global-Online-Payment-Innovation-Trends-2019.pdf

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