Infotech In Global Economy

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Trends and Technology in E-Payment

Abstract

Amid globalization of the economy, various E-payment technologies continue to emerge. E-payment trends and technologies are powered by the internet, which is regarded as a user-friendly communication medium and platform to obtain information and carry out financial transactions. Internet use is necessary for work, academics, business transactions, entertainment, and communication. Consequently, almost all aspects of people’s lives are now influenced by the internet. With the widespread use of the internet, most users have been identified to be adolescents and young people (Chen, Zeltmann, Griffin, Rubach & Ellis, nd). Internet use is coupled with the emergent of numerous digital devices to change the contemporary business environment. Notably, with the use of smart devices, people are adopting the use of new payment methods that are found to be extremely useful in regions that do not have good infrastructure to support conventional methods of payment. E-payment has the merit of being affordable to many users as the upward trend in its use. This inventory creates a competitive edge for entities participating in online markets.

Reference

Chen, A., Zeltmann, S., Griffin, K., Rubach, M. & Ellis, M. (nd). Trends and Technology in E-Payment.