The future of retail is a future of Personalized Experiences. We’ve always believed that the Nymi Band’s true power is not just in its increased security and convenience, but also in the new experiences it can create. The team at Nymi is excited by a future of opt-in, personalized experiences in the Internet of Things (IOT) space, impacting everything from retail to hospitality.
At Dx3 this year, we got the first glimpse of what this future could look like. We partnered with MasterCard and a new startup, ChangeRoom, to create a one-of-a-kind retail experience for seamless shopping.
The ChangeRoom application, unveiled at Dx3, allowed users wearing a Nymi Band to reserve a clothing item from a tablet to pick up in store. When the user walks into the store, they are greeted with a personalized welcome message that recognizes the user via their Nymi Band. ChangeRoom uses the Nymi Band to authenticate the user’s identity, and uses MasterCard MasterPass to seamlessly pay for the clothing item without a transaction. Seamless, secure and awesome!
Both of the speakers discussed an ideal system of frictionless transactions, which would be a system that challenges the idea that security and convenience can’t co-exist.
Persistent identity, Chance and Davies said, will require a different approach to both privacy and data ownership. It will also change the relationship between data sharing and value. A consumer will not opt-in and share their data with a retailer if they do not receive sufficient value in return (whether that comes in the form of a new experience or a discount). It is very much up to the retailer to work with emerging technology to create exciting new experiences, surprising and delighting customers.
The future of retail is still being determined now. Applications like ChangeRoom give us a glimpse what a Nymi-Enabled future could look like.