Top 5 Digital Payment Trends in 2021

Digital payment trends making transactions easy

Digitization of payments is a great step towards the goal of achieving an easy, convenient and secured mode of transaction that is booming these days. Digital payment methods have seen massive developments in the past five to six years. The users are also becoming more sensitive towards digital payment techniques due to the pandemic's hit. Here are the top 5 digital payment trends in 2021 that you need to know.

Biometric authentication

Biometric authentication is the most emerging trend in 2021 that verifies fingerprints, facial recognition, iris recognition, heartbeat analysis, and vein mapping. Biometric authentication is a unique process that can contribute to providing accuracy, efficiency, and security in a single package.

EMV technology

EMV technology has been gaining momentum slowly. It ensures computerized and secured mechanisms for payments.  This EMV technology is also known for using codes that can vary each time when a transaction takes place.

Mobile Point of Sale

Mobile point of sale is a technology that frees all the business merchants from their locations and in-store payments making the payments easy. The mPOS technology makes a difference in the payment process of a store by streamlining the sales staff's adoption of new technology. This technology is going to boom the market in the coming days.

Smart speaker

The smart speakers also allow users to give a voice command for getting all sorts of information. This technology can also be used for transactions in the coming days. With the growth of smart home technologies, smart speakers have been exploring new trends.

Digital wallets

Mobile wallets or digital wallets have already started to take over the market. They have been used increasingly by users due to the pandemic's hit. Companies and platforms have also been encouraging digital wallets for all purposes to avoid contactless transactions.