Adam J Clarke and How We Pay

The future of payments is trending towards mobile, contactless and instant. The trends signal how we will be using our money in the years to come. Read on to see a conclusion about Macropay and its Founder & CEO, Adam J Clarke.

How We Pay Now

The Mobile-point of sale (mPOS) has been one the most widely used payment trends. This technology allows customers to pay from anywhere; be it a concert, trade show, food truck, a pop up cinema and etcetera. It has been reported that the mPOS has a compound annual growth rate (CAGR) of 19% (approx.) between 2020 to 2026.

The next payment trend worth watching is Speaker Payments. Yes, you heard it right - Alexa can now pay your electric bill!

In just six years, smart speakers have become an integral part of many homes around America and other parts on Earth. The big names in tech are racing to create the best smart speaker - Amazon, Google, Apple, you name it! In a recent study by Statista, it was found that 35% of all users use smart speakers when buying products like home care and groceries.

How We Will Pay 

Speaker Fund Transfers also happen! The number of people using smart speakers for sending money or making direct payments has increased by around 28% since last year. However, there are still some safety concerns when using bluetooth-powered smart speakers that need to be addressed.

Regardless of the safety concerns, the future of Speaker Payments & Fund Transfers look bright. It is estimated that the usage of smart speakers will grow rapidly from 18.4 million users in 2017 to a whopping 77.9 million users by 2022.

The future of payments is here, and it’s in the form of artificial intelligence. The safety net for online transactions relies on machine learning to catch fraudulent activity.

The use of Artificial Intelligence in banking is an excellent example for how it can be used to improve our lives. AI helps identify fraudulent transactions, and also notifies you if something seems fishy so that your safety can be monitored by the bank as well.

Macropay and Adam J Clarke

Macropay's mission is to develop cutting-age technology with the goal of making our payment landscape better. The way we settle and pay for goods or services dictates society’s flow, after all!