At its core, banking has always been about two things: keeping money safe and moving it from point A to point B. Payments\u2014whether through cash, cards, or digital solutions\u2014have evolved significantly, and we are now at a critical juncture where speed, security, and seamlessness are driving the next wave of transformation. When we launched our \u201cPay by Face\u201d trial at Mashreq, it was a critical milestone on our journey toward a payment ecosystem that is faster, smarter, and far more secure. It also provides a springboard to discuss what I like to call the \u201cThree Eras of Payments.\u201d<\/p>\n
In the earliest phase of our payment evolution<\/strong>, the shift away from plastic cards to digital wallets like Apple Pay, Google Pay, and Samsung Pay was revolutionary. This era was characterized by the adoption of contactless transactions, a move that transformed everyday spending into a seamless, almost invisible process. The convenience of a tap or a scan replaced the need for physical cash or plastic, laying the foundation for a digital-first mindset in consumer behavior.<\/p>\n Our current era is defined by immediacy and innovation.<\/strong> Real-time payments have become the norm\u2014transferring funds instantly, whether it\u2019s a person-to-person transfer or a payment at a point-of-sale. Yet, what truly excites me is the integration of emerging form factors. The \u201cPay by Face\u201d trial is emblematic of this transformation. By using facial recognition as a payment method, we are not just adding another authentication method; we are rethinking the entire payment experience.<\/p>\n This trial demonstrates that the future of payments is about more than speed. <\/strong>As customers increasingly demand frictionless, instant, and secure transactions, biometrics and real-time processing are converging to meet these expectations. The seamless, almost magic- like experience of \u201cPay by Face\u201d is a concrete example of how we can harness technology to simplify financial transactions without compromising security. <\/p>\n Looking ahead, the third era promises to disrupt our very concept of what a payment is. <\/strong>Imagine a world where you no longer need a phone or a card\u2014a world where payment transactions occur at an atomic level, triggered by secure, multi-factor biometric identification. In this future, your identity could be verified through a combination of your face, fingerprint, or even other unique biological markers, making physical devices obsolete. <\/p>\n Kartik Taneja<\/p>\n Head of Payments & ConsumerLending at Mashreq<\/p>\n","protected":false},"excerpt":{"rendered":" At its core, banking has always been about two things: keeping money safe and moving it from point A to point B. Payments\u2014whether through cash, cards, or digital solutions\u2014have evolved significantly, and we are now at a critical juncture where speed, security, and seamlessness are driving the next wave of transformation. When we launched our […]<\/p>\n","protected":false},"author":1,"featured_media":101157,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1777],"tags":[1493,159,7,288],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-message-from-mashreq","tag-a-message-from-mashreq","tag-banking","tag-enterpriseam-uae","tag-mashreq","wpautop","entry"],"acf":{"mongo_id":"802b1955-a714-471f-878c-1e0983bd3601","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2551.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The future of payments: a seamless, secure, and instant world","related_issue":[101140],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.7ebbc465-1de8-4aa4-8a87-903c57ddf417.mp3"},"yoast_head":"\n