Due to the Covid-19 pandemic, people have moved their purchases to the internet, but they are also looking for new forms of digital payments
He Covid-19 has forced brands to move their business across digital. This situation also affected the way people pay your products or services.
Due to the isolation physical purchases have decreased so people have looked for new options to be able to carry out their purchases of digital way without having to depend on payments in cash.
BPC Banking Technologies revealed the trends of the digital payments by 2021. The company explained that the SMEs You must change your strategy if you want to compete this year.
According to the company that offers smart digital solutions and works with banking institutions and neobanks, the Covid-19 will continue to modify people’s habits.
“It cannot be denied that COVID-19 presented the greatest challenge for cash transactions. The industry has never seen such a drastic change in payment options with the replacement of cash payments to digital media “
Santiago Egas, Senior Vice President and Managing Director of BPC Banking Technologies pointed out that the digital payments they will continue to be very present in all businesses.
“Mobile and contactless payments were the stars last year. Offering solutions that go beyond the hygiene issue linked to the use of cash “
According to BPC Banking Technologies, these will be the trends that will define the way in which the Payments in 2021:
Diversify forms of digital payments
While the business they have bet on him electronic commerce, people look to brands that offer them various ways to digital payment and not only through credit cards.
The diversification of payment methods will be the crucial step in 2021. Specialists point out that there is a growing demand for new payment methods. digital payments able to cover the concerns of security and customer protection.
“The ability to pay on delivery, ‘tokenization’, biometric fingerprint cards, phone-to-phone payments, along with a variety of more traditional card payment options, will help create a landscape where the consumer can take decisions based on convenience, personal preferences and knowing that you are protected against financial fraud “
Payments with QR Code
In search of new forms of payments that avoid contact between people, the digital payments with QR code.
Technology is expected to advance so that people can use them in an easier way.
“Customers will no longer need to download applications separately, but can use their favorite wallet to make a purchase”
Voice activated payments
While the artificial intelligence has used people’s voices to activate certain functions, experts detail that it is technology will be applied in payments.
Voice activated payments could be used to confirm transactions in other Applications, such as those of food delivery providers.
“Digital banking applications that offer this function allow their customers to give instructions on transactions and initiate bill payments using only their voice”
Contactless service payments
With the Covid-19 physical contact has been avoided so that more and more transports use other types of digital payments so that contact with people is avoided.
“The benefits of paying with a simple touch will go far beyond maintaining social distancing, as we expect to see a greater willingness of citizens to use cashless payment methods in other settings”