The Rise of Online Payment Gateways
The cashless system of payment is growing exponentially thanks to evolving payment methods, increasing use of e-commerce, increased connectivity to broadband and rise of new technology. Are increasing instances of cyberattacks and spam hinder the development of the market for online payments and will the market continue to expand at a an exponential rate? The digital payments market is predicted to cross that USD6.6 trillion mark by 2021. That's 40% growth over two years. Cashless payment options are rapidly evolving , with revolutionary developments like mobile wallets, peer-to -peer (P2P) transactions on smartphones, live transactions and cryptocurrency. In the era of digitalization numerous payment technology companies are cooperating with traditional banks to meet the latest trends in consumer and business preferences. Digital Commerce Empowering Businesses Electronic payment systems have emerged as an integral part of the business because the trend of consumers turning to onl