New payment methods: where do companies stand?

When making a financial transaction with a partner or supplier, or even an employee, a company uses various payment methods. Recently, traditional payment methods such as cash, bank transfers, bank cards, and checks are less and less used. Companies are therefore opting for new payment methods.

The emergence of new payment methods in companies

With the evolution of digital tools, professionals are faced with and must rely on new contactless payment methods. The goal is to keep up with the new technology and to meet the more advanced expectations of consumers. Varied and innovative, the new payment methods accelerate the process of change in companies. It is a competitive advantage to reach a wide audience, regardless of their payment expectations. In order to guarantee an optimal digitalization of your company, the adoption of new payment methods is therefore essential in companies.

The new payment methods adopted by companies

Companies use almost all the payment methods that have recently appeared. First of all, contactless payment is the most widely used. Fast and secure, it is a payment method via a cell phone or smart card. Then there are the online payment platforms that are the most convenient. Between company and customer, the most chosen is PayPal since it simplifies transactions. There are also mobile applications that meet the needs of many users, even professionals. This fast payment method saves a lot of time at the checkout.

Future trends in payment methods

For businesses, apart from the new payment methods mentioned above, there are a few trends coming up. These are exactly the payment methods created to meet the modernity of society as well as the new technologies. The current trend that is beginning to gain traction in business is payment via cryptocurrencies, a digital currency issued peer-to-peer, without the need for a central bank, usable through a decentralized computer network. This modern means of payment is based on a network system as well as through the blockchain. In fact, it is a sharp system, but its use is still questioned by various professionals. Cryptocurrency, which is an electronic or virtual currency, remains a fast as well as a secure upcoming trend. Among other things, the new payment methods are more fluid, and simple, but also come with new fraud risks.

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