<div class="block">Tapping your phone or smart watch has already become a normal way to shop but technology is primed to take the experience even further. Cheddar News senior reporter explored the future of shopping and payments with Mastercard&#39;s immersive technology.</div>

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The Future of Shopping and Payments

And imagine taking a good look at something and then it's instantly added to your shopping cart. That scenario may sound like science fiction, but it could be a reality someday soon, Mastercard invited Cheddar, new senior reporter Michelle Castillo to visit its New York Experience Center there. She got a glimpse of what shopping and payments might look like in the not too distant future. Technology is changing the way we shop and it's not just the chip in your card. Mastercard's Chief Technology Officer, Ed mclaughlin showed me the future of shopping and we're way past cash and cards as we see these digital experiences becoming more and more immersive. One of the things that people want to do is buy stuff, engage in commerce and making sure your Mastercard is right there with you, starting with the ability to buy things with just one look in the future. We may all be shopping in the metaverse. But how can your avatar do that? Well, this demo is one theoretical way about how it could work. So what you're going to do is you're going to use this eye tracking device you're noticing. I'm not wearing a headset and look at a product for just three seconds. I'm looking at the Prairie cookies right now and then I can just look at the ads cart and it should do it. Just like that. Mastercard's Chief Innovation Officer Ken Moore believes the future will be a mix of digital and real experiences. As you walk around a city, as you interact with signs and sign posts and you're having, you're having your physical world with digital overlays on top of it, giving you information that's relevant for you. We think that's going to Herald the next wave of kind of hyper personalized experiences. Let's say you're paying with your digital wallet in the future, it will hold your virtual cash and your biometric data. So for example, let's say I want to buy this Jersey. If I use my digital wallet, of course, it has my virtual credit card number, but it might also have information on my size. This is especially useful because it makes the process more seamless for me as well as the fact that people usually buy three items in return to. So this can help the retailer actually save money on those returns. Not all the tech is hypothetical, some of it is in use like using A I to detect fraud. So what does an A I do? It makes predictions, we can get a pattern and know what fits that pattern and what doesn't, we can look at those patterns? See does it look suspicious. This map shows potentially fraudulent transactions at the same time or near same time. We had a transaction that looked great and one that the A I picked up as potentially being really big, the A I learns your behavior, it knows if you're on a trip or if you're likely to shop at a particular place through the A I Engines that we have. We've not only reduced fraud three times, we've let six times more good transactions go through that might have been stopped with simpler systems. Mastercard is also expanding facial payments past your phone. It's currently testing this system in a Brazilian supermarket. So you just enroll in an app. So you just take a photo of your face connected to a credit card and pick the merchant that would accept it and then you should be able to pay. Now, you're gonna select this option right here that says pay with biometric checkout and then you put your face in the frame and as you can see, you can confirm and pay. Of course, these technologies involve collecting your personal data and a lot of consumer trust. It's always that balance between giving you the security that you, you want to feel and security you can trust in, but also minimizing friction, right. And there are different tradeoffs and different customer experiences. Tech is making it easier to shop and it's a future that's closer than you think for cheddar news. I'm Michelle Casilla mastercards, Ken Moore added that one of the next frontiers in the payment space is what he called a quote broader imagining of money that could include paying for things without traditional currency. But instead using Cryptocurrency, loyalty points events and you can expect innovations in that space from his company very soon. And of course, thanks to Michelle for that report.