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The Payments World is Changing

Cash is no longer the king

We were brought up with the saying that cash is king. The new payment world does not involve cash any longer. The world is changing and so does the payments world.

Whilst all of us are looking forward to the day when the coronavirus pandemic is over, or substantially under control, our visits to the traditional banks have become less popular. VallettaPay has played its part too int ensuring such change takes place smoothly and efficiently.

The pandemic has accelerated digital transformation. People are adopting and embracing new norms of remote business meetings, virtual entertainment, online food shopping and at times home schooling.

A cashless society

Mobile payment applications made it easier for everyone to pay and receive money. It is estimated that in developed countries, around 85% of consumer activities now take place across e-commerce platforms and mobile applications. VallettaPay offers such a solution.

The payments’ industry has played a pivotal role in supporting the transactions that facilitate day-to-day commercial and business activities. Consumer behaviour has driven a massive transformation to the payments’ world.

The use of cash has declined drastically over the last years. Older consumers might find it difficult to adapt to these new forms of alternative methods. However, user friendly applications allow one to learn and carry out transactions at ease. This is an important step towards a cashless society. VallettaPay is contributing towards such transformation.

Digital payments fuelled by biometrics

The huge shift from physical point of sales to electronic payment through e-commerce channels together with the adoption of mobile payment via contactless technology and greater use of e-wallets, have changed the world as we know it. We are also witnessing instances where biometric innovation is supporting new ways to make payments such as via facial and voice recognition.

Offering a robust payment solution to your clients is no longer an option. It is a must for businesses willing to be successful. The future of payments is invisible, seamless and secure. 

Your business should accelerate digital transformation to simplify your business operations. Adopt technology stacks that offer flexibility and great user experience. Through doing so, your business will be more efficient and sustainable. As a merchant, you require a solution like the one offered by VallettaPay. We are here to serve you. Get in touch.

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