Digital Payments Are Evolving as Cash Loses Popularity

Digital payment options are evolving quickly with features that appeal to both merchants and consumers.

First of all, many consumers continue to view cash and checks as their primary payment options. In addition, there are still some businesses that only take checks for payments! Finally, there is a segment of the population that does not have access to a bank account, a requirement for funding an e-wallet or most other mobile payment options.

“In June, Richard Yao of IPG MediaLab shared an article on Medium where he states that “nearly 40% of U.S. consumers have now used at least one digital payment service.”

Developers, including AeroPay, are also embedding authentication protocols that make them incredibly safe both for consumers and retailers. For example, AeroPay uses two proven authentication tools that protect both the merchant’s and the consumer’s identities and bank account information.

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