This eight-page white paper produced by Rambus looks at how digital wallets can benefit retailers and enable next-generation retail experiences.
‘How digital wallets will shape the future of retail’ begins by explaining why retailers are well placed to take advantage of the opportunities offered by mobile payments before identifying two key areas where proprietary digital wallets can reduce costs and increase margins: the management of interchange fees and the digitization of store, gift and loyalty cards and other physical assets.
The paper then goes on to illustrate how digital wallets can improve in-store retail experiences by streamlining the checkout process, integrating loyalty with payments and enabling more accurate consumer profiling.
It also outlines key technologies underpinning digital wallets to enhance security and mitigate risk, including tokenization and biometric authentication, and examines the potential benefits to retailers of the Internet of Things, augmented reality and real-time delivery as well as the role of digital wallets in enabling ‘smart retail’.
How to access this article
This eight-page document is available free of charge to NFC World Knowledge Centre members (PDF format, 140KB).
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This item is part of the What's New in Payments Knowledge Centre.