OUGD406
Studio Brief 02
Research

For this part of research I looked into the future of money, new ways in which we can pay and is there a future for real money. Contactless payment is becoming more and more popular today with the ease of just waving a fob, card or handheld device over a reader at the point of sale, this is made possible by radio frequency identification and near field communication. Suppliers claim that contactless payment is making transactions twice as fast as no pin or signature is needed, even research shows that consumers are more likely to spend more using contactless payment. When looking into this I considered how this research could benefit me, and came to the conclusion that if contactless payment is to become ever more popular, the use of the note will decrease, so in my designs I need to consider ways in which I could persuade people to still use bank notes, this could be achieved through aesthetically pleasing elements but also making a easy to use note, as contactless payment is proving to be efficient.

Another popular option for the future of money is Apple pay, Apple has removed the wasted moments trying find your wallet or card by having your cards, store cards and reward cards just a touch away. I allows you to have all your cards on one device and the details aren't even stored on the device so its a safer and more private way to pay. Only recently I got a new iPhone and was eager to use Apple pay for quick transactions, its so simple and useful to have. One benefit for me is that it saves pocket space as it serves as a wallet. One current downside of Apple pay though is the limited shops you can use it in but that problem will only last for a certain time I'm sure.