The Future of Payments in The Digital Age
Technology is always rapidly evolving, changing the way our society operates in more ways than one. With this change has come a shift to digital forms of payment. By 2025, the majority of Americans are expected to not use cash in any given week. In fact, physical transactions are losing relevance across the world, making way for online forms of exchange.
Cryptocurrency and digital wallet applications are just two ways that digital forms of payment are taking over the world. Many services and industries are using these resources to make it easier to conduct business and reach their consumer base. For example, online casino games are using Paypal to distribute payout across the world. Paypal works in tandem with sites like Bank ID, Trustly, and Plaid to create the most efficient and effective experience for the user.
The digitization of money is not isolated to one country or continent, but is rather spreading across the world, increasing payment revenue in nearly all global territories. Because of this, it is clear that the age of physical payments is already long gone. This makes way for digital wallets, credit cards, and account-to-account transfer to take its place.