8.6 C
New York
Sunday, February 28, 2021
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

Starling Bank aims to hold 18% of the SME market

The digital bank Starling announced a plan in which it is going to hold 18% of the SME banking market in five years, Insider reported.

TransferWise gets rebranded as ‘Wise’

The rebranded company Wise drops the part Transfer as a signal of moving on from the money-transfer focus of the company.

Revolut about to increase fees and cut number of free trades

Revolut introduced additional fees on its free plan and trading on the Revolut platform will also become more expensive.

Exclusive: An interview with Michael Schweikart, a co-founder of the sustainable banking provider Tomorrow

Tomorrow is a social business FinTech company and a neobank, that was started in 2018 by founders Inas Nureldin, Jakob Berndt, and Michael Schweikart with a vision to use money as a lever for positive change. Since its launch in 2018, the company has 50+ employees and 55,000+ customers.