As technology rapidly evolves alongside customer expectations, adopting an API-first approach in payments has become critical. What are payment APIs? and why do we need them? APIs are the building blocks of the next-generation of payments platforms, utilizing the essentialism of PaidYET. Several trends are driving the evolution of payments in 2021. To start, data...
Is using contactless payments secure? How do contactless payments work? Cash payments are slowly getting replaced by other payment methods, such as credit cards, debit cards and now contactless payments. Contactless payments are becoming increasingly popular for a good reason, they’re a secure and convenient way to pay. Contactless payments are one of the most...
Stimulated by the COVID-19 pandemic, its expected the number of unique digital wallet users to exceed 4.4B by 2025, up from 2.6 billion in 2020, according to a recent study from Juniper Research. The total amount spent through digital wallets is also expected to nearly double to $10 trillion annually by 2025 from $5.5 trillion...
COVID-19 has placed financial pressure like never before on companies and consumers. Banking institutions are forced to facilitate alternative payments and transfers with new automation, due to the increased number of e-commerce transactions and new consumer trends. A large proportion of people around the world made their first online purchase ever this year, with more...
The global wearable payments devices market size is expected to reach a worth of USD 80B billion by the year 2028, according to a new report by Grand View Research, Inc. Over time, payment systems have adapted to suit the needs of customers, such as increased convenience and reduced time while making payments. The growing...
Consumer and business behaviors change slowly, irrespective of the industry, for they require overcoming two key friction points: familiarizing oneself with new technology and going outside one’s comfort zone. Unless there is a dire need or a strongly enforced government or regulatory policy mandate, consumers and businesses are usually slow to change. How customer’s demand...
Among the many lessons we’ve learned in 2020 is how convenient and safe it is to shop and pay digitally, by laptop, mobile phone, tablet or other device. But when it comes to the contractor, the accountant, the lawn service and the myriad of other services we use in our daily lives, digital transactions aren’t...
By 2030, Cards may linger, But digital and contactless payments will dominate. The future of digital payments is being created now with the adoption of contactless payments, new digital transactions such as buy online, pick up in-store, and reduced friction within the payments ecosystem. A report by experts and prepared by the Electric Vehicle Charging...
Carrying cash could become a casualty of COVID-19. While its imminent death has been a long forecast, cash just keeps on living to pay another day. Cash may not be king in the U.S. market anymore, but reports of its demise have often proved to be a bit premature. U.S. consumers’ cash use has declined...
COVID-19 continues to shake the world, and the payments industry is playing a critical role in the response to, and recovery from this pandemic. There has been a shift in preferred payment methods as many consumers seek to avoid cash and embrace modern, digital payments. Even before the pandemic, global adoption of real-time payments was...
