The past decades have witnessed how technology takes longer strides every year in improving the convenience of day to day activities disrupting the user experience and interactions. Payment has not been an exception for this, seeing steps being taken from cash to plastic cards with a magnetic band, followed by enhanced security through cards with chip leading us to today’s contactless payment with cards that feature a built-in antenna. PSI Pay in partnership with Kerv has been working in taking contactless payment to a new level introducing wearable technology in their first in class conactless payment ring.
Through all the moments of payment from cash to contactless and online, security concerns arise and these concerns need to be addressed both from a company perspective, as well as from an individual’s responsibility of keeping their information safe. With PSI Pay and Kerv’s new technology, a series of steps have been taken to safeguard the consumer, as well as some user recommendations to stay secure.
The first layer of protection is the physical proximity necessary to interact with the contactless payment method. The technology used is known as Near Field Communication, which requires the reader to be under an inch apart from the card or ring. Furthermore, the user can utilize a screening wallet that completely blocks any unwanted communication with the card. PSI Pay and Kerv’s ring has the added protection of the ring being able to be turned off to avoid any unwanted communication.
Contactless payment offers a two-step validation. The technology is equivalent to that of the PIN without the inconvenience of remembering codes, nor waiting for the card to be authorized. The card generates a unique code that then the reader has to verify.
Another layer of security for the consumer is the zero liability policy for the cardholder in the case the card is utilized by an unauthorized party.
Lastly, PSI Pay and Kerv recommend their users to frequently check their transactions on the banking app. Notifications can be easily setup, and early identification of potentially fraudulent transactions can minimize the risk to the consumer.
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When you go online to search a product or even to buy a product, you usually return to your computer at a later date to see that similar products to the ones you have either searched or bought in the past have been suggested for you so that you will buy them in the future. This is because of algorithms that humans have created. Their basic assumptions are that if you’ve bought something in the past you are more likely to buy it again in the future. But, as with all things, this human algorithm is flawed mainly because not all humans are the same. This is where the idea of sentient artificial intelligence comes in. Sentient AI has been used for many tasks in the world of e-commerce but one of its most interesting applications is that of conversion rate optimization. Conversion rate optimization is the idea that online retailers want to maximize the number of not only people who visit their website but the number of people who buy something off of their website. Sentient AI has the ability to learn each individual person as opposed to applying blanket algorithms that may or may not apply to the user. It has the ability to learn from specific previous purchases of a user and then suggests websites or specific products for them to search for or purchase in the future. The higher percentage of people who interact with a website the higher chance that something will be purchased on that website and thus the profits of that website increase over time. The are many advantages to utilizing sentient AI for conversion rate optimization especially if you are a small online business that is just starting out. As with all companies in their infancy, it is unlikely that a new online business can staff many people to be dedicated to finding the right audience who is in the market for your type of products. By making the one time purchase of a sentient AI conversion rate optimization program, a business would be able to “employ” the technology around the clock with little to no maintenance. As profits grow, the online retailer can then expand and hire more personnel to further expand the company. There are certainly still some bugs to work out but the day is coming closer where artificial intelligence is able to revolutionize the way the world does business online.
Technology is changing many industries today. Many business leaders want to learn different ways to apply technology changes in their industry. Talk Fusion is a growing company in the technology industry. This is a company that works with business leaders across the country on different ways that technology can improve their business. In the years ahead, this information is going to be more important than ever before.
Value of Technology
In the business world, technology is more important than ever before. There are many companies that are trying to gain market share in their industry. One of the best ways to do this is to offer products and services more efficiently.
With new software options, companies can drastically reduce the amount of money it takes to offer products and services to customers. Over time, this savings can then be invested back into the business. There are many people who are excited about all of the potential improvements that can be made in business through this innovation.
Talk Fusion is a company that wants to help improve the world. Few business leaders truly understand all of the possibilities to improve sales and profits through new technology. Talk Fusion wants to help companies take the next step with their business and financial planning.
In addition, many small business owners see opportunity in this area as well. One advantage that small companies have is the ability to change quickly. Unlike large companies, small companies do not have a lot of red tape to go through when making big changes with the business. Learn more: https://talkfusion.com/en