Constraint spurs innovation and the pandemic has caused fundamental changes in the way consumers shop and interact with retailers. Merchants are implementing new technologies at unprecedented rates to address behavioral shifts; both offline and online. For example, the safety and convenience of contactless payments have led to massive, widespread adoption as 70% of consumers have changed the way they pay for merchandise in the last year alone. Mastercard has been at the forefront of this digital innovation, empowering retailers to leverage technology and data to match the evolving preferences of consumers.
AlleyWatch caught up with some of the leading minds in retail innovation at Mastercard’s NYC Tech Hub to learn more about how they are thinking about the future of retail and Mastercard’s role in powering next-generation commerce from the use of blockchain to supporting digital adoption, to the formation of a space economy.