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Payments: A day in the life of 2020

19 Dec 2019 04:30

It’s hard to believe we’re almost in the 2020s.The past decade has seen the payments space move forward in leaps and bounds. As we cross into a new decade, here we use a ‘day in the life of’ to explore all the ways innovation has found its way into our day and take a look at the fun and not so fun technology we have come to depend on.

A day in the life of…

You wake scanning through your to-do list for the day ahead. Picking up your smartphone for the first of 58 times today, you spend the next 20 minutes hitting the snooze button at 5 minute intervals before you get up. You brush your teeth, slip into the new outfit you bought through a quick online purchase with your Barclaycard, and start your tech-enabled day.

As we approach the roaring twenties, our love affair with digital payments continues to go from strength to strength. Whether you’re buying your lunch with your latest Pingit device, smiling into the screen of your smartphone to pay with FaceID at the supermarket checkout, or checking your personalised investment app before you go to bed, it’s fair to say the way payments work has changed in recent years – providing an increasingly seamless omni-channel experience.

Thanks to hyper-smart devices and the Internet of Things, digital seems to find a new home every day. Your fridge now has the power to order you eggs and avocados when you are running low (not to mention a new romantic partner), your fitness wearable diligently counts your steps between the fridge and the sofa and your TV lets you pay for and watch virtually any movie in the world. Life is sweet…

When you head out into the outside world, things get even more slick and seamless. So, what does a day in the life of a typical tech-lover actually look like?

7.15am You buy a flat white with contactless coffee cup

But first, coffee… In 2018, Barclaycard partnered with Costa to launch the world’s first contactless coffee cup, making your morning coffee easy to pick up and pay for, not to mention better for the environment. Parent tech partner Pingit also lets you top up, cap and control your coffee budget; no cash, no beans.

7.45am You give a contactless charity donation on the walk to bus stop

As the use of card and mobile payments rises, many charities have responded with the launch of contactless charity donation boxes, allowing volunteers and those in need to collect donations from those who are without coins and notes.

8.00am Use contactless on your smartphone to travel on the bus

With a ten-year merchant acquirer contract in place, Barclaycard and TfL

continue to elevate how we pay for transport across the nation’s capital city. Tech continues to boost the transport sector all over; this year saw Trainline step up its smartphone tech efforts, using augmented reality to transform posters into live departure boards designed to point users towards the route with the fewest possible emissions.

8.15am Pingit a friend some money for an upcoming weekend away at the Peak District
Acquiring and entering a new payee’s details can be a bit hassle. As part of the new wave of seamless peer-to-peer payments, Pingit lets you send money to virtually anyone – as long as you have their mobile number.

8.30am Pick up your Mum’s birthday gift and pays contactlessly with wearable

Currently capped at £30, contactless payments are available across pretty much all devices – from wristbands and key fobs to bracelets and designer watches. They are growing in popularity with, 26 per cent of British consumers expecting to use a contactless wearable in the near future, according to MasterCard.

11.00am Check your bank balance and view transactions from last night’s date using Barclays mobile app

Mobile banking has advanced, with new ‘mobile-first’ offerings bringing convenient, flexible banking to the table.

1.00pm Order weekly food subscription box with payment embedded invisibly in app

From flowers to yoga leggings, toilet paper to pasta and even jewellery, the subscription economy is on the rise. For those who want the experience and nutrition of preparing home-cooked meals with none of the shopping and fuss, food subscription apps allow users to choose pre-portioned ingredients for their weekly meals according to their dietary requirements, then pay invisibly in the app.

1.10pm Buy your lunch at JustEat and check you itemised Flux receipt

Whether you fancy a burger and fries or sushi and kombucha, chances are your phone will be able to get you the lunch you want in 60 minutes or less. Working in tandem with your Barclays banking app, our partners at Flux provide automatic paperless receipts for transactions made at select retailers like JustEat  – it’s eco-friendly too.

1.30pm Collect new hiking boots for said weekend in the Peak District ordered via Click & Collect and tries out in-store experience

Earlier this year, research from Barclaycard found that many shoppers were clicking but not collecting. Retailers such as outdoor and sporting superstore Decathlon, are coming up with creative ways to encourage shoppers to come in store – working with Barclaycard, they created a faux Mount Snowdon experience in their Surrey Quays store allowing customers to try out their purchases.

5.45 Meet friends for pre-match pizza and split the bill using TouchBistro

Created to enable a more seamless experience for restaurateurs and diners, TouchBistro is an electronic point-of-sale system which makes it easy for restaurant staff to sell – and for their customers to pay.

7.30 Kick off a totally cash-free football match experience

From Twickenham to Tottenham, sports stadiums are making the move towards cash-free, helping fans enjoy a more intuitive, frictionless experience as they pay for drinks, snacks and merchandise around the stadium.

10pm Jump in a lift-share home and make an invisible payment

Having become an increasingly important feature of city life over the past couple of years, lift-sharing apps help you get picked up and pay in just a few taps.

11pm Some ‘vampire economy’ shopping

Night owls and those in charge of night feeds will know the pull of late-night shopping. Known as the ‘vampire economy’, this thriving industry is powered by those shopping in bed at night or up late watching TV.

And… time for bed. In a world where every second is filled with opportunities to watch, scroll, eat and buy, it’s important for all of us to take stock of our evolving relationship with technology, choosing solutions that will seamlessly enhance our lives – giving us more time to spend on the stuff that matters. Happy 2020!