Digital Payments: Customers Rely on Brands!

Last Updated: 19. Dezember 2023By

US corporations such as Apple, Amazon, Google, or Microsoft are currently working hard to expand their services in the area of digital payments. Digital Payments includes all payments made with bank transfers, mobile money, and payment cards including credit, debit, and prepaid cards. Crypto wallets are also increasingly making their way into the world of Digital Payments. Our money is not only facing digitalization, as cash is increasingly pushed into the background, but also tokenization.

From the introduction of government cryptocurrencies (CBDCs) to the massively increasing importance of private cryptocurrencies (Stablecoins) linked to official fiat currencies, I am convinced that it is only a matter of time before the major technology corporations integrate blockchain technology and crypto applications around Bitcoin, Ethereum, and Co. into their systems. In parallel to these developments, the question also arises as to which payment providers customers trust?

Digital Payments: A third trust known brands Would you use an unknown payment service to shop in store or online? Probably not. When it comes to digital payments, German consumers trust established brands. The results of a survey as part of Statista Consumer Insights confirm this – about a third of respondents in Germany have confirmed their trust in brands such as Apple Pay or PayPal. For a further 32 percent, such payment services already belong to their daily life – instead of a wallet, the smartphone is increasingly used to pay. Around 27 percent of survey participants would even go so far as to say that they can no longer imagine a life without this comfort.

Skepticism towards Digital Payments mainly comes up when it comes to cyber security. Nevertheless, a little more than a quarter of respondents always feel well informed about digital payments. About 17 percent also try out new and innovative payment options. For the same 15 percent, the topic was a popular conversation. For the same 15 percent, however, the topic could not be more irrelevant.

My conclusion: Digital Payments are based on the digitalization and tokenization of our money. This is a huge growth market for cryptocurrencies as well as for FinTech companies.

Invest and diversify on solid paths into the new world of digitalization and tokenization! Digital assets will play an increasingly important role in the future. Take advantage of the moment and invest and diversify on solid paths into blockchain technology, cryptocurrencies around Bitcoin, Ethereum and Co., as well as megatrends such as cybersecurity, the metaverse, NFTs or artificial intelligence (AI). I show you effective means and practical ways to do this as part of KRYPTO-X.