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Contextual Parity & Micro Payments

By Hendrik Kleinsmiede, Director of Innovation • Visa Europe

May 06, 2016

This week, Jon Downing from Visa Europe Collab attended the Consensus 2016 event in New York to talk about Collab’s recent global remittance service proof-of-concept with Epiphyte.

On the Collab blog this week we discuss the impact of Contextual Parity on finance – and how it has led banking into competition with every business in the world – and the huge potential of nano-payments within the Internet of Things.

What is Contextual Parity? Today’s consumers are much more demanding than they used to be – yes, they expect their banking app to be better, faster and easier to use than its direct rivals – but they also expect parity with the latest and best technology from every other walk of life. Read more here.

Tell me about Micro-Payments! The Internet of Things is about connected environments – homes; cars; public places – each one enabled by tiny, invisible sensors that are intelligent enough to monitor what occurs within that environment and to make inferences about it and the people who inhabit it. Such intelligent sensors lead to self-restocking fridges, and many other examples – but how should we approach a transaction as tiny as a fraction of a penny, like a lightbulb that pays for its own electricity as it’s used? Find out more here!

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