Rise of Digital Payment Systems

 

                                                                                    Hi Everyone,

Todays post is all about the advances in digital payments, I'm sure we all know a lot about this topic already as we live on our phones daily!!!!. What ill be diving into is how accessible paying for services and products have become very simple for the everyday shopper and how advances in technology have paved the way for new and obscure ways of paying for goods and services. 

How companies have adapted in keeping the consumers happy and adapting to the new era of technology has been very influential for the progression of the digital payments in businesses. with many companies swapping cash to digital transactions it is more and more likely that cash may be a thing in the past. especially with the Irish government getting rid of 1c and 2c cions a few years ago has opened peoples eyes that cash may be a thing in the past in another few years.

With advances in technology digital payments have become so easy for people to "tap and go". For instance the new smart watches have made a big advancement in how people are using them as you are able to add all your bank cards to the watch and are able to pay for items with your watch with no additional charge on your card and at no limit of payments.

I think the advancements of digital payments have been beneficial for all involved, there is a small service charge for companies to use the digital payment option but i feel for what the companies get back in return is better for their revenue.