Mastercard presented a lot of news to the Mastercard Innovation Forum 2023, the annual event dedicated to the future of payments. Inside a specially set up Demo Area we found electric bikes to be paid for with a contactless card, holograms, smartwatches with a fingerprint sensor. And then many features for both consumers and merchants and businesses: payment solutions with a high tech content.
Mastercard Innovation Forum 2023: the most interesting tech news
Among the innovations that the Mastercard team showed us in the demo area, perhaps the most “handy” for those who love to shop online is Click to Pay. This solution allows you to have secure online shopping experiences without unwanted interruptions. Click to Pay allows you to pay online with all the security guaranteed by Mastercard. But the real advantage is that the process (the Digital Journey), which goes from opening an account to the immediate issuance of a Click to Pay-enabled card, is simpler, faster and more secure than ever before.
When concluding an online purchase, no need to remember passwords or create new accounts. The solution Click to Pay recognizes the consumer upon checkout, with your payment details held safely and securely in your profilo Mastercard Click to Pay, ready to be used when needed. Mastercard explains that it is a standard that more and more ecommerce are adopting: therefore you can use it almost anywhere online.
From smartwatches to electric bikes
Another interesting novelty that we were able to observe at the Mastercard Innovation Forum 2023 is FlyWallet. The result of the work of an Italian startup, is the first smartwatch that uses vital data to track health and use i biometric parameters to allow authentication. Since these parameters allow an individual to be uniquely identified, they can also be used to carry out a payment via wearable, in total safety. The success of the payment is then confirmed thanks to the sound notification of the Sonic Brand of Mastercard.
Instead, Freebike And an innovative Tap&Ride experience which allows you to discover the practicality of a service sharing with integrated POS. In practice, FreeBike is one smart bicycle that offers the user the possibility to pay in contactless mode and start cycling without having to register for specific accounts, apps or services.
The solution is particularly integrated with the Mastercard smart mobility concept. In fact, users already accustomed to using cards, smartphones or wearables to pay for urban public transport can also use bikes. A shared and ecological mobility, but which remains very comfortable – without the need to register different accounts and waste time.
Solutions for companies
In addition to the solutions for us consumers, at the Mastercard Innovation Forum 2023 there are also many solutions for companies. As Dynamic Yield, which allows the most advanced digital retail models to be applied to virtual reality. In a virtual reality store demo, we were able to see how easy it is to create personalized, optimized and synchronized digital interactions.
In addition to virtual reality, there is also talk of cryptocurrencies thanks to CipherTrace. A reality acquired in 2021 by Mastercard, CipherTrace assures compliance, analysis and risk management of cryptocurrencies and blockchain technology anti-money laundering. In fact, it allows you to securely manage risk and monitor the entire context in which trading takes place.
Safety at the center
For businesses, smooth payments coupled with security are even more important. Systemic Risk Assessment, which arises from the collaboration between Mastercard and Interos, allows for the detection, assessment and control of risks on several levels, along their entire network of commercial relationships. In this way, thanks to a intuitive dashboard, you can not only predict and mitigate business risk in the ecosystem of reference, but also act promptly in case of need.
RiskRecon instead, it is a solution designed to respond to cyber threats within your corporate network and the digital ecosystem of partners and suppliers. RiskRecon checks preventively the IT infrastructure of any entity with a web presence. With more than 40 parameters on 9 security domains. As email security, breach events, network filtering, DNS security, system reputation, web encryption, application security, software update, and system hosting.
With these solutions, Mastercard demonstrates that the world of online payments is in full swing – thanks to really interesting technological solutions. More information on the site.