The Rise of Digital Payments

Hi Everyone!  

 

I hope you are all having a good day ! This week , I want to talk about the rise of digital payments. Something I use daily and I am sure a lot of other people use daily too! 

 

So what is a digital payment ?

It is when you go into a shop and when you go to pay for your items you use your phone to pay. Whether it is google pay or apple pay. It is a quick and easy transaction where all you need to do is tap your phone. It is long gone past the days where you need to tap your card or chip and pin your card for transactions over 50 euro, but card payments fall under digital payments too! 

  

 

You can also use these digital payments for online transactions. Many companies and websites such as shein,  Asos , booking.com , Ticketmaster and Boots use apple pay on the phone too. This is when you use your finger print scanner or face ID on the phone to verify a purchase.  Apple also use this for in application purchases. For example , when you are playing a game on a phone and want to buy in game funds.  

 

The rise of digital payments excelled throughout covid. This was because the use of notes and coins were somewhat demolished due to social distancing and hygiene. Now , this practise is still present in many in store shops where they have abolished paying by cash or have ‘card only’ vendors. An example of this is the 3arena. They only accept digital payments and no use of coins. This can also be a negative thing due to elderly people not having access to the information on their phone or the apple or google pay set up method on their phone.  

 

That is all for now! See you next week :)