As lockdowns end, consumers are returning to a retail landscape that is still undergoing change — not only in the ways they shop but in the ways they use transit systems and verify their identities.
These changes will lead to further transformation. Consumers are more digitally focused, and merchants will compete to serve them in new ways. Security will also change, as consumers are more accustomed to biometric authentication — creating new possibilities for digital ID and cryptocurrency.
For Mastercard, there's a clear opportunity, but they must balance that against privacy concerns, as well as the needs of consumers who are eager to go back to the old ways.
Host: Kate Fitzgerald, senior editor, American banker
Guest: Chiro Aikat, executive vice president of product and innovation for North America, Mastercard