Markus Eichinger, EVP Group Strategy at Wirecard: Now accepting credit cards and email addresses: why personal data has become currency
Summary
Markus Eichinger, EVP Group Strategy at Wirecard: Now accepting credit cards and email addresses: why personal data has become currency Retail experiences are constantly changing, with shoppers using an ever-growing list of methods to find, buy and collect products. But a recent study from Wirecard has revealed that not only do physical stores still have a big part to play in the retail landscape, there are also multiple ways to complete transactions – with cashless payments being increasingly prominent. Although sensitive, sharing personal information benefits both parties as it empowers merchants to learn more about their customers and how best to serve them, while giving consumers valued money off. Shoppers are becoming savvier about how they safeguard their money, regardless of where or how they buy goods, so personal information and authentication is intrinsic to keeping funds secure. Data can also be used through a wide range of channels, and this is important for the majority of shoppers who either research the products they want to purchase in-store before buying online afterwards (88%) or vice versa (93%).