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Education

The gardener is on your doorstep and offering to cut the What payment methods will robots use?
grass for a known price. In the automated home and robot
mower scenario, payments decisions are made a bit like I prefer not to predict what kind of new payment methods
stock market purchase decisions – where we input a set of will be available. Instead, I'll envision making use of
rules that – when triggered – will initiate a payment. today's known payment methods but wire them into
future automated robot payment scenarios.
Legally, beneficiaries of these payments will have to prove
that the consumer who authorized them did so knowingly. For a number of years, federal banking regulators
We can foresee some confusion on the part of consumers have been working on faster payments, and it is safe to
about the various payments they pre-programmed, imagine that instant value transfers will be possible on
and they might then claim not to have understood the conventional payment rails (not bitcoin) within a few
implications of their programming decisions. years. Consequently, the payment methods are likely to be
instant automated clearing house, credit card, debit card
We see this today in subscription sales and future-delivery or stored-value spend – each using rails that are familiar
sales – areas of commerce that typically experience high to today's processors.
levels of chargebacks. To avoid this, consumers may
have to improve their memories or merchants and robot On the issuing side, banks will need to enable APIs to
programmers may have to come up with novel ways to connect their payment cards to robotic and automated
explain and obtain payment consent rules from consumers. devices – like self-driving cars. This is relatively simple
process and does not require much more technology than
Automation and AI will make some activity more already exists today.
predictable. For example, based on our driving habits,
electric self-driving cars could be preprogrammed to On the acquiring side, there will have to be rules of play,
adopt their owners' best habits and use them without fail, like use of contactless payments, to enable acceptance of
for example, always signaling a certain number of feet cards and other payment methods in a manner that is
before a changing lanes. known to both paying robots and payee robots.

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