Use Case 1 – Embedded Payments
Embedded payment is an infrastructure integrated into an app or platform to facilitate seamless transactions.
#Doyouknow that payments were the first financial service embedded in a non-financial product?
In the past, paying for goods on an app was a completely different experience. A redirect may happen, and users must manually enter their card details.
But today, users can pay within the same app, and their details are retrieved within seconds to complete the transaction.
Uber is a popular example of how it has transformed cash payments into an embedding payment system. With simplicity brought to customers, it disrupted the taxi industry and was widely adopted by competitors as well.
Embedded payment options have improved the user experience for non-financial companies such as Stripe.
With Apple Pay, you can make online and in-app purchases with your phone password without touching your wallet.
From groceries on bigbasket.com to shopping on Amazon, embedded payments are a way of purchasing and transactions today.
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