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The world has a lesson to take from us: JC Penney’s Ankit Jhingran on India’s leadership in payment innovations
- Rise of digital wallets and real-time payments and integration of AI-driven solutions, is changing the way businesses and consumers handle transactions.
- Convergence of fintech and AI emerging as a pivotal force that promises to make transactions faster, more seamless and secure.
- Discussion titled ‘Reimagining the future of retail payments: Innovations shaping tomorrow,’ explored the game-changing impact of digital wallets, real-time payments, and AI-driven checkouts on retail industry.
- Ankit Jhingran gave insight into the role of JCPenney India and highlighted the value India brings to the company as a Global Capability Center (GCC).
- One of the primary trends discussed during the session was the rise of frictionless payments, designed to streamline transactions and enhance security for consumers.
- Wearable payments and biometric authentication, areas poised to drive the future of retail transactions discussed.
- Buy Now, Pay Later (BNPL) is another fintech trend currently making waves in retail.
- India's UPI infrastructure is a great example for the world to follow for real-time payments, according to Jhingran.
- Jhingran noted the potential for AI to revolutionize checkout systems across the retail sector, making them more efficient and customer-friendly.
- The retail sector is on the brink of a transformation that promises faster, more secure and more convenient transactions for consumers and businesses alike.
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