Since the starting of the 21st century, currency exchanged has taken countless upgrades. Not too long ago, people relied mostly on cash and checks to make payments. If the trade is huge, than they used checks. Otherwise, they relied mostly on cash for payments. Then came the credit cards, and after that debit cards. But since the year 2000, technology went to a whole new level. With the release of pay-pal, online trading took a new turn. And after that, apple pay and now, the release of PSI-pay and Ecopayz bear a promising new image of a game-changer.
Despite all the changes, one thing people never thought they would have to do is abandon their ‘wallets’. And that is what PSI-pay is doing. Establishing the concept of a digital wallet right in your smart phones. Where no one has to carry around that fold-able bag of leather full of ‘paper’ and cards. Rather, carry it around where-ever and when-ever you wish to leave your house, without the fear checking your pocket to see whether your wallet is still where should be or not.
Today’s millennials are highly advanced. They want things done with speed rather then wait. So digital wallets really save them the hassle. And slowly, the old-school adults are also liking the idea of digital payments. And PSI-pay has a great role in that. Because not only does it speed up a transaction, it also does it securely. Waiting in line at a fast food restaurant and paying the cashier and then counting your change just seems really back-dated and slow. Specially in an era where time means money.
Due to this game change, the economy has also adopted to it. Now in every busy city, majority of stores have started to accept payments through digital wallets, and by 2020, every retail store in the US and Europe will accept digital payments. Not to mention the fact that, through wearable technology, the concept of actually taking out anything from your pockets to make a payment will be the day of the past.