“Study the past if you would define the future.” Confucius, the legendary Chinese philosopher.
As our lives change continuously with the effects of new technologies and unexpected conditions, our kind has learnt the central pillar of standing still in this unpredictable world: Adoption! In any aspect of daily routine, no matter what comes next, we can adjust ourselves lightly. Payments are just a clear example of what we are capable of when the statuses are chaotic. Our ancestors have walked a long way from barter methods to paying for goods and services. The journey from shells to cryptocurrencies is undoubtedly worthy of commendation in retrospect.
Yes! Finance is a perfect clue regarding how our survival mode passes through monetary mediums. There is one thing common between an Ancient Egyptian ceramist and a modern-day Greek villager harvesting tobacco: Money is the power and the source of happiness for both. Thus, all of us desire more and more, whereas we also aim to have new structures for a more functional system.
A New Era in Future of Payments
Undoubtedly, the biggest game-changer in payment technologies was the penetration of the Internet into our lives. We have access to everything through this inspirational magic regardless of time and location. Are you looking for Patatas Bravas sauce that you loved in Barcelona? What about a handmade Persian wall tapestry? There is no limit anymore. Anything is possible on the web, even if it is on the other side of the world.
It does not surprise us why a myriad of developer companies are competing to be the leading ones to shape the future of online payment technologies. Especially after the catastrophic Pandemic period, we have realised that online purchases are on the rise as it has never been. To meet the requirement, emerging developments have been alternating one by one. Let’s take a closer look at what’s new on the field.
- Crypto Payments
Since no one -except the flat earther-like old schools- thinks cryptocurrencies are Ponzi Scheme anymore. Since its first release in 2009, Bitcoin has become one of the most demanded investments in a blink of an eye. Today, there is a tremendous market consisting of traders, analysts, exchange facilities, developer companies, and miners.
These popular monetary assets have been utilised as a payment method for more than a decade now. From Overstock to Starbucks, from Amazon to Paypal, consumers can use their digital coins in the way they like.
- Contactless Payments
Briefly, it is possible to define contactless payments to purchase products or services through credit cards and debit cards, key fobs, smartphones, or smart cards. This technology is named radio RFID (Frequency-Identification-Technology) and NFC (Near-Field-Communication). The payment is completed when the device holder taps it near a point-of-sale terminal specialising in contactless payment technology.
There is no medium with subsequent contact. Neither cashier desks nor queues. Speedy, safe, and hygienic transactions for excellent customer experience. At the time of writing this article, the United Kingdom, Finland, Sweden, China, South Korea, and Australia are the countries leading contactless payments to ease their daily routine. To all appearances, these payments become more prevalent day by day worldwide.
- Digital Wallets
Unlike traditional banking systems stealing your money and precious time at the same breath, modern time payments welcome exquisite digital banking services: Digital Wallets. Whereas creating a bank account in a brick-and-mortar building takes a bunch of documents and a couple of hours, e-wallets allow users to open an account in a couple of minutes at the comfort of your house, park, or on a sunbed beside the ocean.
It is not only the ease of use in digital banking platforms but also the safety precautions they take to keep holders’ personal and financial data hidden and secure from third parties. Digital Wallet platforms provide 2FA (Two-factor authentication), strengthening all the steps to verify your identity. Moreover, most e-wallet applications require fingerprint-based authentication to ensure it is you on the screen.
Our impressive and seamless digital wallet, Jeton Wallet, is an excellent service to seize the day and not miss the latest innovative novelties. Open a Jeton account today and experience the privileges of being a reliable and reformist platform serving custom-made solutions to fulfil your needs and expectations!