The rise of alternative payment methods like digital wallets, mobile devices, and smart speakers has disrupted the traditional payment landscape across sectors, and travel is no exception. Travelers are no longer limited to using credit cards for booking their itinerary or paying with cash at the point-of-sale while abroad. They can even book a trip using Google Assistant technology and never have to lift a finger, let alone a credit card. Continue reading Pros & Cons of Relying on Alternative Payments When Traveling
Technologies, including artificial intelligence and the internet of things, coupled with the gig economy, have created a new standard for financial services. Consumers are no longer limited to the legacy systems that banks provide, and have begun experiencing more convenience.
Evidence shows that consumers are increasingly expecting features typically associated with digital technology like messaging, online shopping and smartphone-fueled ride sharing in financial services, according to MoneyLive Report 2019. Continue reading Payment Trends in the UK and the Baltics
It used to be that cash was king, but now it must share the throne with the rise of non-traditional payment systems. Technology innovation has taken off in 2018, thrusting digital payments such as mobile and non-bank payment cards into the spotlight.
The digital payment revolution emerged thanks to tech innovation across the internet of things, Bluetooth and Wi-Fi in the early days and continues today across the “blockchain, radio-frequency identification (RFID), near frequency communication (NFC) and quick recognition (QR) codes” as mobile and contactless payments take hold, Entrepreneur.com noted. Continue reading The Pros and Cons of Non-Traditional Payment Systems
Digital payments are still taking shape in developing countries like Russia, where only about one-third of Moscow residents rely on in non-cash payment methods for transactions. The fact that the Russian market is coming from a lower base compared with more mature markets, however, suggests that the country could be poised for robust growth. Continue reading China Could Influence Russia for Mobile Payments