Category
Lifestyle
Assisted Choices
Trend cluster
Category
Experiential
Pay
Enhancing user experiences, interactive payments add allure to everyday routine.
4.2
Trend score
Trend
What is the Experiential Pay trend?
Experiential Pay: As competition among retailers advances, interior aesthetics and product design just isn’t enough to gain consumer recognition, prompting a turn towards more engaging in-store experiences. Providing excitement without sacrificing productivity, retailers are turning to interactive payment options that encourage greater user involvement, enhancing routine credit transactions with heightened, individual touches. This illustrates a move towards more intimate, yet efficient methods of consumer interaction.
Trend themes
Themes within the Experiential Pay trend
Three behaviours holding the trend together01
Experiential Payments
As retailers compete, more engaging in-store experiences can enhance routine credit transactions with unique, individual touches.
02
Biometric Authentication
Facial recognition software can be used to pay without the use of cash, credit cards, or even smartphone apps, providing an innovative, secure payment method.
03
AR Shopping
The use of smart glasses and photorealistic overlays create an augmented reality shopping experience, providing shoppers with digital renderings of products and secure, streamlined transactions.
Industry implications
What the Experiential Pay trend means for industry
Where the trend changes the playbookFor
Retail
Retailers can enhance the shopping experience with experiential payments and AR shopping, increasing consumer engagement.
For
Banking and Payment Systems
Innovations such as biometric authentication and computerized payment cards offer consumers secure ways to make transactions with their financial accounts.
For
Mobile Technology
Peer-to-peer payments through a smartphone keyboard extension offer millennial consumers a more efficient and socially integrated means of dealing with personal finances.
Trend signals
Trend signals for Experiential Pay
Trend score 4.2 out of 10, from popularity 75%, activity 42%, freshness 8%.
Popularity75%
Activity42%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Experiential Pay trend
7 featured examples from Jul 24, 2013 to Nov 15, 2017CategoryUnique
Computerized Payment Cards
'Da Vinci Choice' is a Card with a Built-In Keyboard and Screen
The innovative features of Da Vinci Choice have the potential to disrupt the banking industry by offering enhanced payment solutions.
CategoryWorld
Fare Payment Rings
The Moscow Metro is Introducing the PayRing as an Alternate Payment Method
The transit industry can leverage innovative fare payment options to meet the growing demand for more efficient and convenient services.
CategoryTech
Mobile Peer-to-Peer Payments
Paykey Lets You Transfer Money Through Your Phone's Keyboard
Paykey's keyboard extension disrupts traditional banking by offering a seamless social banking platform for peer-to-peer payments.
CategoryBusiness
Smiling Payment Systems
Alipay Uses Smile to Pay to Let KFC China Customers Pay With Smiles
Adoption of smile-based payment systems can provide an innovative and seamless payment experience for retail customers, enhancing convenience and security.
CategoryBusiness
AR Shopping Experiences
Mastercard's AR Experience Lets Customers Scan Their Eyes to Pay
Retail industries can integrate AR technology and eye-scanning payment authentication to provide their customers with an unforgettable shopping experience and stay ahead of their…
CategoryBusiness
Biometric Buying Systems
This New Payment System Lets You Buy Things with Your Face
The retail industry can benefit from implementing facial recognition payment systems to improve checkout processes and enhance customer experience.
CategoryTech
Binge-Encouraging Coffee Apps
The CUPS App Helps Get Coffee Drinkers a Coffee Discount at Cafes
The CUPS app is specifically designed for coffee drinkers and cafes, providing a disruptive innovation opportunity for the coffee industry.
