8.6 C
New York
Saturday, July 4, 2020
Home News Future of mobile payments?

Future of mobile payments?

“Can I pay with a card?” or “Can I pay contactless?” are the questions we hear on a daily basis.

Despite lots of people still using cash, over the past decade, shoppers have become increasingly comfortable paying with cashless methods. But nowadays cashless does not necessarily mean card payments.

Mobile wallets and even social media platforms being used more and more as a cashless payment mean. When it comes to online shopping, online payment sites are the favored approach. They offer the consumer a more secure way to shop versus other methods like mobile wallets or sites where they need to enter their card details directly.

In the upcoming years, customers will be showing much more interest in embracing the use of biometric data. With technology constantly evolving, it begs the question if there will even be a need for a physical payment card in the future? As virtual assistants like Amazon Alexa and Google Home become more popular in the household, the possibilities for payment methods are almost endless.

Read also: The future of card payments in 2020+

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Revolut introduces Silver for its EU customers

Since this Tuesday, Revolut customers are able to trade silver in the majority of the European Economic Area (EEA).

TransferWise is set to launch an investment feature as it lands license from FCA

Thriving fintech startup TransferWise has announced that it has secured an FCA license for regulated investment activities. This way it will be able to offer retail investment services in the UK.

Revolut adds American Express to open banking feature

Challenger bank Revolut announced the addition of American Express to its Open Banking feature. This allows Revolut retail customers in the UK to connect their American Express bank account to Revolut.

N26 extends its partnership with TransferWise

TransferWise for Banks and N26 have extended partnership to offer fast, low-cost and transparent international transfers to their customers.