DIGITAL PAYMENTS
PAY TECH REVOLUTIONISING THE PAYMENTS SPACE
Transactional technology has never offered so much variety to customers or vendors
WRITTEN BY : TANMAY PATANGE
The last decade has brought about a groundbreaking change in how people make payments . From Apple Pay and Google Pay to NFC payments and smart POS , many things have changed .
We take a look at some of the most innovative devices and solutions in the paytech sector that are impacting businesses and consumers in their day-to-day payments .
Contactless payments have been around for the past decade and online shopping has expanded the sector technologically as more and more users buy online . However , over the last two years there has been a massive driver in the paytech space , enhancing solutions and motivating innovation so that transaction solutions increasingly enable seamless , instant results .
Currently , contactless payment technologies use RFID or NFC , the latter being popular on smartphones and smartwatches . RFID-enabled cards remove the need for entering the passcode , cutting down the amount of contact required for the transaction .
90 November 2021