Digital payments, the most common financial service

The adoption of electronic payments is becoming morecommon in the financial market and its growing interest is evidenced in surprising figures, as indicated by the US payment processor Stripe.

One of the main reasons is that digital payments make it easier for buyers to cancel sellers without the need to exchange physical currency, and although their existence as financial services has been going on for many years, current times serve as a stimulus for the demanding population to resort to to this mode in order to avoid banknotes and coins.

In previous times this service was very useful to attract customers, today digital payments have become a more secure and reliable channel to achieve any type of additional sales. In addition, they also generate real-time data on sellers’ operations, when cash flows occur, and consumer buying habits.

Patented benefits

Cryptocurrencies are another financial vehicle that offers patent benefits in the case of digital payments, and unlike fiat currencies, they have a guarantee in their value, that is, at the time of issuance it continues to maintain the amount. Decentralized verification is another benefit, as it eliminates the need to trust the other parties involved such as: governments or regulators.

Despite these advantages, the value of digital assets is not managed by the Central Bank, which means that their fluctuations constantly vary. However, there are crypto assets anchored to stablecoins such as the dollar, fully backed by cash reserves, known as stablecoins but, like other traditional means of exchange, they depend on regulators.

K. Villarroel

Source: bancaynegocios