News & Views: August 2019
The driving force behind Navigate is to give you, our readers, valuable insights into the dynamic markets we operate in. We trust that Navigate does that but we are also aware that we don’t have a monopoly on good insight. As such, Visa provides Navigate users with regular updates on the interesting things we are reading, watching and listening to.
Our intention is to share content you might have missed from a range of different sources, from highly respected titles to gems from less obvious sources Visa experts around Europe value.
The move to password-free
Forbes: Passwords are the weakest defense in a zero trust world
As security breaches and issues grow increasingly complex, are passwords no longer strong enough to protect against fraud? Forbes contributor Louis Columbus analyses two reports by IDG and Enterprise Management Associates, which each provide insights into the perils of passwords and the merits of mobile when it comes to enterprise security and user experiences. He points to hard-hitting statistics that illustrate his case – such as that 86% of senior technology decision makers would abandon password authentication if they could.
Fast Company - Forget passwords: this start-up wants to authenticate your mind
What if consumers could prove their identity without any authentication checks? BioCatch – an Israeli start-up that uses behavioural parameters to protect digital identity – speaks to Fast Company about how it creates biometric “cognitive signatures” to verify account holders and its market impact.
Watch Visa Navigate’s exclusive spotlight with BioCatch here.
Connected travel
PYMNTS.COM: The road ahead for connected car commerce
The car journey as a ‘commerce on wheels’ ecosystem is explored in this PYMNTS.com panel and complementary article. A range of experts discuss what this projected $230 billion opportunity for the American market could look like, the emerging non-ownership model and the notion of “universal commerce”. Soon, for instance, our cars could help consumers recognise how to avoid traffic jams, direct them to the most economical petrol station, or even remind them to make a quick coffee pit stop.
Smart Cities World: How technology will shape transportation in smart cities
A transportation studies researcher from the University of California explains how and why the next ten years will see the most transformational change to public transportation and global cities since the invention of the car – particularly around converging trends being driven by sustainability concerns, technology innovations, rising life expectancies, extended working hours and millennials entering the workforce.
Eye For Travel - Reality check-in: a sneak peak at airports of the future
Eye For Travel shares examples of innovations driving the development of next-gen airports and traveller journeys – from 5G-enabled security robots in South Korea, to passenger-inspired avatars in Portugal, and the replacement of luggage carousels with direct-to-destination services.
Future of cash
Financial Times: Could cash end up inside a museum? (paywall)
In light of a new Bank of England exhibition full of artefacts that reflect the changing world of payments, unveiled to mark its 325th anniversary, Financial Times’ Claer Barrett takes us on a journey through the history of cash, ending with a question around what social insights could be gleaned in 50 or 100 years from today’s practices.
Fast Company: The cashless retail revolution has been overestimated
Taking into account findings from a recent report by Square, moves from several US merchants to go cashless and reactionary legislation in a number of states, Fast Company assesses the country’s climate to a cash-free future, and why this move is unlikely and “extremely difficult” to achieve.
BBC: Millions choose a cashless lifestyle
On the other side of the Atlantic, BBC takes a closer look at the UK’s cash landscape, pointing to findings from a UK Finance report that more than five million people led a close to cashless lifestyle last year. Though while the volume of cash payments in the country fell by 16 percent, like the US, the article explores why the UK will not become a cashless society.
And one from the Archives...
Every time we produce a ‘News & Views’ we will also point you towards a piece of content that isn’t brand new, but that we have found extremely interesting and that supplements the content from Visa Navigate.
The Economist Special Report: Young people and their phones are shaking up banking (paywall)
And finally, this Special Report on Banking puts the millennial front and centre as a powerful force for change in this industry. As the rise of mobile has revolutionised the world of payments, The Economist takes a stance that it makes most sense to view the future of banking through the eyes of digital natives.
For further insights, read more of our News & Views content here.
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