new forms of payment

New forms of payment after COVID-19

We are beginning to regain a certain degree of normalcy after the passage of the COVID-19 pandemic. This event, unprecedented in recent history, has led to the confinement of millions of people. And there is no doubt that some changes in habits referred to daily life. It is also promoting new forms of payment, such as payment through electronic devices. Today we want to talk to you about the payment methodologies that have gained momentum after the Coronavirus pandemic.

New forms of payment, a reality

While debit and credit card payments were already quite implemented in Nigeria; The fact of wanting to preserve hygiene has caused the health authorities not to recommend the use of cash . Physical money circulates from hand to hand, and if a banknote is analyzed in the laboratory , the amount of germs and microbes it contains makes one consider not continuing to use them. In fact, the disappearance of physical money can be a reality in a reasonable period of time. Electronic payments are booming after the pandemic. Not only for hygiene, but for comfort and safety.

Payment with mobile and smartwach

They are relatively recent technologies and that are becoming more and more common to see. This type of transaction takes place when we put our device near the POS reader; having previously the data of the cards entered in it. They are probably the most convenient methods, since you avoid having to remove the card from the wallet and manipulate it. Likewise, its security is much greater than that which is carried out with a card. The data is encrypted and it is practically impossible for us to encounter any inconvenience, such as the cloning of the card.

They are taking a lot of force because mobile phones capable of incorporating this technology are becoming more economical. And smartwatches allow this option also in the case of leading brands, such as Apple or Samsung. Watches also have a very simple but effective security mechanism. If you remove the device from your wrist, it is locked using a PIN code.

Payment with cryptocurrencies

Cryptocurrencies are a type of virtual security that has a few years of life. But their importance is such that there are many of them to choose from, and they are considered real money. Its boom is such that there are debit cards in which you can pay with cryptocurrencies. But there is a small drawback, not all businesses accept them, in fact there are only a few. It is clear that cryptocurrencies are setting trends, and it will not be surprising that in a short time they will be considered as another means of payment. In favor of this type of value we can highlight its extreme security. Blockchain technology is behind it, and thanks to cryptocurrencies, there is growing interest in alternative payment systems. This is not science fiction, you can even order a VISA debit card to operate with them.

Towards a new reality

As can be seen, it seems that coins and bills are almost a thing of the past , although they still have a long life. Older people, as a general rule, are reluctant to use these new forms of payment. For example, a path has been opened to which we cannot be oblivious. Whether for hygiene or comfort, these different ways of paying are going to increase after COVID-19.

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