The Payment Trends in Future Payment Processing!

In the last few years the payment industry made rapid involving in the growth of digital payments. The system is changing constantly with try to change the way that we move money from one place to another around the world. E-wallets and increasing importance of card security reduce the happenings of fraud activities and cyber theft, shaping the payment industry in new dimension.  

Some Innovative Payment System that will mark the future of payment industry.

E-wallets and mobile payments  - one of the biggest and most secure type in transformation of online payments. It can be used by anyone owning a mobile phone. Gives best shopper experience in retail industry, as it offer valuable insight about customers transactions. The speed of mobile payments can also help increase foot traffic in stores, which in turn would generate more sales.

Digital Remittance - Emigrants sending money to their near and dear once since long decade in their home countries, the digital trend in Online payment processing made it more easier and faster than ever. In 2014, $583 billion were remitted across borders in 2014, and the World Bank expects that number to climb to $636 billion in 2017. BI Intelligence notes that digital accounted for 6% of all remittances in 2014.

Payments Security- Credit card frauds is the major problem in every country To mitigate this, card networks strongly encouraged merchants to upgrade to EMV security, which is the standard in other parts of the world. EMV cards have an embedded microchip for extra security.