Evolution of the digital payment ecosystem: 7 key development points according to Bitupper

It is expected that the space of digital payments will change significantly in the very near future. Already, we can predict seven trends, aimed at transforming the payment system in developing countries over the next five years:
⠀1. Technologies will simplify digital payments: biometrics, tokenization, cloud computing and the Internet Things are just a few trends that will determine how consumers interact in the future;
⠀2. Expansion of the network of sellers accepting digital payments will grow by 10x by 2020: mobile payment solutions and own payment networks will stimulate the acquisition of trading companies;
⠀3. Payments will stimulate consumption, and not vice versa: they will provide access to transaction data of customers, which will allow payment services suppliers to offer buyers interesting deals and coupons;
⠀4. Consolidation of technologies will lead to widespread distribution of digital payments;
⠀5. The modified UPI will become the main player changing the conditions on the payment market: The Unified Payment Interface provides an excellent platform for the smooth functioning of payment service providers;
⠀6. Digital identification of the client will speed up the payment;
⠀7. The number of non-cash settlements will grow: in the next few years, the digitization of cash will accelerate — non-cash payment transactions, which now are about 22% of all consumer payments, will bypass cash settlements by 2023.
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Digitizing payments is a great opportunity. It’s estimated that by 2020, total payments made using digital payment instruments, will increase up to $ 500 billion USD, which is 10X times the current level.
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The Bitupper aim: to use all available opportunities for representing the world of cryptocurrency as simple, understandable and convenient for each market participant as possible, offering advanced online banking tools in an understandable and user-friendly interface on all platforms. ⠀

Bitupper — that simple, for everyone.

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