Each year, new technology trends emerge both improving the speed and efficiency in which payments are made. Payment technologies have already come a long way over the past decade. These days, it isn’t uncommon to be able to pay for products and services via online platforms for example.
As we progress into 2019, further changes are set to be introduced into the payment technologies market. Below, you’ll discover some of the top new payment technology trends in 2019 to watch out for.
Contactless methods will increase
Contactless payments have already been introduced, but throughout 2019 they’re set to become even more popular. In fact, many experts are claiming that contactless payments are the future of secure, digital payments.
There’s no denying these types of payments are more convenient and quicker to use. However, up until now the payment limit set for contactless payments is pretty low. Improvements are being made within soundwave technology in order to improve and enhance the possibilities of contactless. It’s thought that in the future, these types of payments will dominate, eliminating cash payments completely.
More efficient payroll services
For businesses, payroll is a necessary yet frustrating process. Your employees are the lifeline of your business, so it’s crucial they get paid correctly and on time. Payroll services are starting to become widely used by businesses of all sizes, as a way to ensure their payments are taken care of.
Companies such as Moorepay, provide reliable and professional payroll services which businesses can take advantage of. So, if you’re looking to improve your payments process this year, enlisting the help of payroll services is a great step to take.
Mobile payments will be improved
Mobile payments are convenient and fast to use. However, at the moment they do have quite a lot of limits. Throughout the year, mobile payment technology is likely to receive a boost thanks to the Open Banking Movement. Fintechs and banking providers are partnering up in order to build better integrated mobile services and apps.
As you can see, there are a few exciting developments being made within the payment technology sector. The above are just some of the payment technology trends to watch out for in 2019. Advancements in AI and alternative payment methods such as smartwatch payments are other areas being focused on. The way in which we pay for products and services has changed dramatically over the years, but developments continue to be made to keep up with today’s digital world.