FinTech is a big thing in the global payment’s ecosystem today. Following the next level of security and convenience, the real-time FinTech payment has already been implemented in more than 20 countries. The good part here is that real-time digital payment is being adorned by customers everywhere too. The United States of America has been the latest nation to join.
According to the experts, the year 2019 is going to see significant moves to real-time FinTech payments across the U.S. because online merchants and billers will begin promoting real-time. Once the importance of real-time secure digital payment is recognized by the merchants and the big institutions, its adoption will rapidly settle in.
Here’s a glance at what should we be on the lookout for in 2019:
Faster, Convenient Payments – Best part about FinTech payments is that it serves as a secure digital payment technology, allowing banks to speed up customers’ experience at checkout lines with contactless cards. Expect the process where you need not to insert a chip or swipe your card to make payments in 2019. In the U.S. large banks will continue their push into real-time FinTech payments, allowing account holders to transfer money instantly.
2x Growth in Mobile Payments – Global people are using mobile devices to explore products, services, but the involvement of mobile devices will grow even more as it sees massive growth in 2019. Experts claim that Latin America has seen widespread adoption of mobile payments because of financial exclusion. Reason? Because more companies opting for secure payment methods, resulting in winning the trust of buyers.
Attention to Security – Online frauds and financial details theft incidents are growing globally, especially in the U.S. as this county holds the maximum numbers of online shoppers and payment makers. Following this, brands dealing across look for ID theft services by the experts and implement better and effective ways to make online payment secure. The adoption of safety methods pushed FinTech digital payment into the media spotlight, and it’s likely to experience a new growth and market share.
Artificial Intelligence – In the early days, making online payments was not just tricky, but also very much time consuming. Despite the multi-step authentication, there was always a threat of losing financial details. With the involvement of Artificial Intelligence, things get a lot easier and this year is expecting much more. The AI will continue to govern secure digital payment in new ways.
Findings and statistics from the previous year suggest that real-time FinTech payments in the U.S. will continue its upward tear.