The news that Starbucks was among the companies working on a platform called Bakkt that will allow consumers to "buy, sell, store and spend digital assets on a seamless global network" was widely interpreted as a sign that the coffee giant was set to accept cryptocurrency payments. Not exactly.
It may seem like science fiction, but biometric payment—scanning an iris or veins in a palm—is a growing reality around the world. Due to the ubiquity of smartphones, the need for faster and more accurate logins has arisen and using fingerprints rather than typing passwords is now an accepted norm. Payments using biometric markers is a logical next step.
According to a recent survey, about eight in 10 US retail executives are considering it. But operations managers—essentially those that are more involved with the customer journey—are not so sure.
Some retailers and restaurant chains are open to the possibility of shifting away from cash, but new survey data found that not all consumers are on board, indicating that bypassing cash could be a risky move.