As of 1/1/30, customers will not make purchases by giving each merchant full access to a non-transaction-specific numeric string (i.e. credit cards as they are today): 70%
That certainly seems a very reasonable prediction, and perhaps too conservative. In many ways one might say that current chip based card transactions (which would also include all the mobile payments like Apple/Samsung/Google pay) have already departed that non-transaction-specific model. Similarly, for online purchases that use token technologies these are often linked to the specific merchant.
However, there might be two ways to interpret that predictions. 1) the payment mechanisms used for non-cash transactions will move towards transaction specific identifiers and cash will not be used or used significantly less than today or 2) we might see some form of transaction specific “money” (block-chain currencies seem to fit but I don’t think they are the future) and more transactions are conducted as “cash” rather than using these payment card mechanisms.
Either (1) or (2) (and some other possibilities) would satisfy my prediction. My prediction is just that, however we do things in 2029, it won’t be by handing each merchant the keys to our entire credit account.
That certainly seems a very reasonable prediction, and perhaps too conservative. In many ways one might say that current chip based card transactions (which would also include all the mobile payments like Apple/Samsung/Google pay) have already departed that non-transaction-specific model. Similarly, for online purchases that use token technologies these are often linked to the specific merchant.
However, there might be two ways to interpret that predictions. 1) the payment mechanisms used for non-cash transactions will move towards transaction specific identifiers and cash will not be used or used significantly less than today or 2) we might see some form of transaction specific “money” (block-chain currencies seem to fit but I don’t think they are the future) and more transactions are conducted as “cash” rather than using these payment card mechanisms.
Either (1) or (2) (and some other possibilities) would satisfy my prediction. My prediction is just that, however we do things in 2029, it won’t be by handing each merchant the keys to our entire credit account.