What are the new payments methods in the world?

Aadhya Khatri - Nov 27, 2020


What are the new payments methods in the world?

we have gathered several of the online payment methods that we know today and some that we will have to pay attention to in the future.

The last few years have been very busy with payment methods. From a landscape in which "cash" predominated for many years, we have moved on to a puzzle made up of several payment options that have shown the benefits that implementing them can have in different sales cycles.

Some of the consequences are the increase in online shopping and the security of payments and refunds in the online casino.

In this post, we have gathered several of those online payment methods that we know today and some that we will have to pay attention to in the future.

1
Credit and debit cards are the traditional form of payment worldwide after cash

Why have payment methods evolved so fast?

Getting the customer to the last stage of the sales cycle is not so complicated. If the time comes for the final purchase, and businesses do not have the appropriate online payment methods enabled, could have unwanted consequences.

The most appropriate forms of payment are those that satisfy the needs and expectations of users. Getting it is important because much of the success of the sales cycle depends on that last phase in which the customer decides to pay for the product or service they have chosen.

The main objective of an online payment method is to improve the shopping experience, the appearance of new payment methods has facilitated payment, so that transactions are made faster from anywhere, speeding up the shopping process.

Credit/debit cards

They are the traditional form of payment worldwide after cash. They cover around 42% of consumers' payment intentions. A significant figure if one takes into account the diversity of payment methods that exist.

Credit/debit cards are a reference for the confidence they have in the consumer and for the ease they provide. It is a reasonably simple payment process.

PayPal

It represents one of the forms of payment that customers recognize as the most reliable and secure. It is a platform specialized in the management of electronic payments that, since its emergence, has caused a revolution in the means of payment by promoting democratization in the acceptance of payments between individuals.

Payments through gadgets

The present and the future of online payment methods may depend on the innovations achieved in this form of payment. 45% of the world population already uses payment through mobile phones or other gadgets.

Future of payments

Each new payment alternative has tried to adapt to the new "rules" of user consumption, focusing on providing a comfortable payment experience while guaranteeing the much-desired security.

But it is a market that does not stop growing, and new alternatives and future developments have already emerged:

Smile to pay. An online payment system with facial recognition that works thanks to 3D technology and different built-in verification processes that make it possible to pay with a simple smile

Pay with a selfie. Another initiative that takes advantage of biometric recognition, this time to pay with a photo at the time of shopping. 

Google Hands-Free. Google proposal that seeks to revolutionize payment solutions with the exclusive use of voice interactions.

Efforts should focus on implementing payment methods that are adaptable, secure, and offer convenience and confidence to customers in an ever-changing market.

>>>Paytm To Launch Its Own Mini App Store To Rival Google's Play Store

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