The rise of cashless and cardless retail transactions suggests consumers are growing comfortable with paying for products from accounts linked to portable devices. How quickly these commerce modalities go mainstream is an open question, but Mastercard is leaving nothing to chance.
The global payment network is not only preparing for digital commerce ruled by recommendation systems fueled by machine learning systems but also war-gaming for the arrival of 5G, as well as the proliferation of IoT and AI, says Jorn Lambert, Mastercard’s executive vice president of digital solutions.