Digital Mobile Payments Gain Momentum
Global Banking and Finance reported on key trends in the payments industry driven by advanced airtime API technology and emerging post-pandemic consumer behavior: More utility and city service payments will be made by mobile. Mobile payments will reduce barriers to cross-border trade. And social media and mobile payments will converge.
API innovations and agile start-ups are transforming the digital mobile payments space. Simplifying mundane tasks like paying electric, water, and gas bills via mobile phone is a convenient customer welcome. Removing friction (cost and efficiencies) in cross-border trade via digital payments can open new geographic markets and boost economies. And social media and messaging apps increasingly coupled with payment capabilities are enable personalized experiences consumers want.