How new ways to pay are shaping the future of commerce

Many of us have already become accustomed to using cards or our mobile phones, smartwatches or other devices to pay for something, in fact some people have stopped carrying cash with them at all.

The world of payments is now expanding even further with experts at Mastercard’s annual Athens Innovation Forum recently outlining exciting new methods such as In-car payments and Bio-metric Check-out Scan Technology.

This year entitled ‘Innovating the Future Together,’ the Forum took place in Athens on 17 October, and was attended by CBN.

Patrik Hanzlík, Rollout Key Account Manager, Škoda X, Uli Kiendl, CEO, ryd and Arne Pache, Senior Vice President, Customer Solutions Center, Central Europe, Mastercard explained how digitization, the Internet of Things and autonomous driving haven’t just changed the automotive industry itself, but also the way we can use our car to buy products and use services.

(L-R) Uli Kiendl, Patrik Hanzlík and Arne Pache

These include how we pay for fuel and parking, but also how we order food from the car, usually through the dashboard of vehicles compatible with this kind of payment.

The experts also noted that this meant that the importance of in-car-payment, the secure, connected and convenient payment from the car's dashboard, is increasing.

Hanzlik is the Rollout Key Account Manager at Škoda X, the center of digital services and technologies for Škoda, responsible for the expansion of Škoda’s portfolio for end customers. Hanzlik and his team is driving the European rollout of innovative In-Car Payment solutions, such as Pay to Fuel/Park, alongside other digital products that enable strategic collaborations with partners like ryd and Mastercard.

Kiendl is the CEO of ryd, a tech scale-up. ryd pay is a leading cross-brand solution for in-car payments / commerce (fueling, EV charging, car wash) in Europe, for example accessible through the dashboard in Mercedes-Benz, BMW or Skoda vehicles building a key pillar in the software-defined vehicle.

As Senior Vice President, Customer Solutions Center, Central Europe, Mastercard, Pache is responsible for the strategy, development and commercialization of innovative digital payment products as well as cybersecurity and network solutions in Central Europe.

Other experts at the Forum, meanwhile, talked about how being able to pay with your fingerprint, eyes or through other biometric means will also soon become an option for consumers.

David Klemm, Vice President, Retail & Commerce, Central Europe, Mastercard and Frederica Mouritz, Director, Retail & Commerce, Mastercard told the audience more about Bio-metric Check-out Scan Technology.

Booths demonstrating the techniques were also set up for audience members to try out.

The first Biometric Checkout Program pilot in Europe was launched in Poland earlier this year, giving shoppers the opportunity to make in-store biometric payments leveraging iris and facial biometrics.

Mastercard's global Biometric Checkout Program, represents a first-of-its-kind technology framework to help establish standards for new ways to pay, allowing cardholders to use a wide range of biometric payment authentication methods such as palm, face or iris scan. This simplifies the checkout process in store, as consumers no longer need to use a physical payment card, cash or a mobile device to pay for purchases.

The Mastercard Biometric Card, meanwhile, combines chip technology with fingerprints to conveniently and safely verify the cardholder’s identity for in-store purchases. An embedded sensor that's powered by the chip, authenticates identity through a fingerprint and can be used at EMV terminals.

During a transaction, the embedded sensor captures and matches the cardholder's fingerprint to the digital template stored on the card. The cardholder's biometric data does not leave the card at any point, as the biometric capture and match is done entirely on the card. If the match is successful, the transaction is authenticated and there is no need for the cardholder to provide a PIN or signature.