How 'Tap and Go' Changed the Payments Industry

The video discusses the rise of contactless payments, driven by the pandemic and ecommerce growth. MasterCard's PayPass, introduced in 2002, gained traction through transit systems. The company is exploring biometrics as the next innovation. MasterCard's global tech hubs foster innovation and investment in emerging technologies. The video concludes with insights into company culture and access to technology.

What was one of the main reasons for the increase in contactless payments during the pandemic?

• People preferred using cash.

• There was a decrease in ecommerce purchases.

• People wanted to avoid touching cash.

• The technology was not available.

Which sector significantly boosted the adoption of contactless payments?

• Retail

• Transit

• Healthcare

• Education

What is the next potential revolution in the payments industry according to the transcript?

• Magstripe technology

• Chip technology

• Biometric payments

• Cash payments

Where has MasterCard established innovation centers to foster new technologies?

• Only in the United States

• In South America and Antarctica

• In Australia, India, Europe, Canada, and the United States

• In Asia and Africa

What is the purpose of MasterCard's global tech hubs?

• To avoid investing in new technologies

• To invest in emerging technologies and foster innovation

• To play favorites with one technology

• To focus solely on chip technology