Home  >>  Blog

What Are The Considerable Digital Payment Trends In 2020?

Apr. 10, 2020

In recent years, digital payment solution has been gained great development with the help of cutting-edge technology as the rapid growth of online transactions. The digital payment provides a safe, convenient and fast way for people to pay around the world, and the development of mobile wallet applications has made digitalization more common than ever before.


Digital payment solutions drive the Fin Tech concept of finance and technology convergence. And what are the considerable digital payment trends In 2020?


What Are The Considerable Digital Payment Trends In 2020?

Digital payment provides a safe, convenient and fast way for people to pay. 


5G Technology

 

With the rollout of 5G technology, companies will apply it to digital payment solutions, allowing people to transact faster anywhere. At the same time, 5G can help people manage multiple transactions synchronously and maximize the use of artificial intelligence, cloud computing and the Internet of things.

 

Intelligent Voice Payment

 

The customer or user can issue a command and get a voice response immediately. Whether book a taxi, get the latest weather information, or obtain restaurant information and make the payment, people can do it by their voices in the future.


 What Are The Considerable Digital Payment Trends In 2020?

Self-service Payment Kiosk with Voice Recognition Telpo TPS781 


NFC Payment

 

In 2019, the contactless card transaction has gradually become common in the UK and the rest of the world. And in 2020, NFC technology will drive dramatic growth of contactless payments. Compared with pin-based systems, NFC is undoubtedly better and more advanced than traditional PIN technology, because it can immediately transmit encrypted data to POS devices. Countries such as China, the US, and the UK will be the biggest users of the digital payment method. 


Point of Sale (POS) and E-commerce

 

The growth of POS devices and e-commerce is another strong driving force of digital payment. Digital POS devices will replace cash on delivery with digital transactions. To some extent, digital POS devices will also push digital transactions and e-commerce further development. Just like Telpo digital POS device, it can integrate NFC, QR Code, credit card and so on payment methods together and make the customer enjoy seamless payment.


What Are The Considerable Digital Payment Trends In 2020?

TPS900 POS Device for NFC Payment 


The digital payment solution will determine the future of transactions. And Telpo digital payment solution will take advantage of future technologies like artificial intelligence, augmented reality (AR) and the Internet of things (IoT), constantly create different digital payment solutions for all walks of life.

 

Tag: digital payment, digital transaction, solution, contactless, NFC, POS, e-commerce, 5G

Brief Introduction: Telpo is a professional smart payment partner who focuses on the ODM service 20 years. It mainly provides the EFT-POS, cash registers, biometric devices, facial recognition machines, self-service kiosks, and bus validators. Telpo has served for more than 1000 customers abroad, including government, banks, Telecom operators, police stations, Retail shops, and offices. Telpo adheres to R&D and innovation, aiming to provide more intelligent hardware for global partners.

Related Products:  TPS900TPS320TPS781


Previous: What Digital Payment Products Can Telpo Provide?

Next: How To Achieve Accurate Temperature Checked?