The rise of Digital payment systems

 The rise of Digital payment systems

Hello everybody!!!  I hope everyone is having a wonderful day.👌

This week I am going to be talking about the Rise of Digital Payment Systems.

 You might think hmm boring but after doing some research and having time to think about this topic I find it quite interesting. 

Everyone think back 10 years, how did you pay for your goods and services?? Actually, even think back five years!! We used cash, or a bank card putting in your code every single time you purchase something or even some people still used cheques. Isn't it funny how different it is now, I know for me I have all my cards on my phone and I tap every single time in a shop or use apple/google pay when shopping online and I can not even remember the last time I had cash. 

Give it another few years and I fully believe we will live in a cashless society. 

• Revolut: This app has transformed online banking, it is so quick and convenient. When transferring  money you just need someones phone number and it transfers immediately, to add money to your Revolut account it is done immediately!! no other bank has made it this easy. 

I remember every time I would go for dinner with my friends and we all had to pay for our dinner you had to enter the long complicated Iban and then send the money and it might not even arrive into their account for a few days?! 

Now every bank has contactless pay and it is super easy, my one concern is cyber security. The numbers for hacking has sky rocketed. Most banks now have verification codes every tie you purchase something online which is huge!

Anywayssss, I think this is one of the biggest thing that has evolved in the last 10 years, What do you guys think?

See you next weeeeekkkk💖

To read more:

https://www.linkedin.com/pulse/rise-digital-payments-indrajit-roy-choudhury-fuq9f#:~:text=Particularly%20noteworthy%20is%20the%20rapid,regions%20like%20Africa%20and%20Asia.

For short video, see below:

https://youtu.be/VJaei5xJGZ4?si=Zv3hm_ATMMP5U1IJ