Here are four tech trends setting the bar for all industries – including global payment processing.
1. Smart Home Devices & Wearables
What Your Payees Expect: Convenience, intuitive interaction.
Smart home devices and wearables are today’s personal digital assistants. We talk to them, they talk back. They multitask, we stay organized.
Your global commission payments need to be similarly convenient, intuitive, and helpful. Much of this comes from which platform application you choose. A high-quality app will integrate with their digital activities, provide smart notifications, and make it easy to access funds.
2. Virtual, Augmented, Mixed Reality
What Your Payees Expect: Connectivity, integration, smooth operation.
VR, AR, and MR are now commodities that blur physical and digital boundaries.
Your payment method should connect smoothly with their digital life as well as their physical reality. Branding your app, cards, platform, and other payment tools can create a familiar link between digital and physical realities.
3. On-Demand Products & Services
What Your Payees Expect: Instant gratification, on-call service.
On-demand movies. On-demand music. On-demand pizza. Amazon’s 1-click ordering service (best or worst invention ever?)…
We all expect rewards and results quickly – if possible, instantly. Instant Payments are an option. What do payees think about a company that clings to outdated payment methods?
4. Machine Learning
What Your Payees Expect: Automation, customization, localization.
Many websites and apps automatically customize their content to our preferences, based on behaviors we don’t even know we’re performing. Commission payments should be similarly automatic and customizable.
Payees should be able to choose how they get paid. The variety of payment options your provide to your account holders can be as important as the payment itself.
Don’t Fall Behind
Technology is evolving so quickly it can be hard to keep up. We can help you to stay ahead of new tech and trends to learn how they are shaping payee expectations.
…After all that, doesn’t a paper check sound kind of silly?