Just a few years ago, almost everyone paid with cash or cards. Today, that is rapidly changing. More and more people are using new payment methods: faster, more convenient, and often better suited to a digital lifestyle. What exactly is changing, and what is worth knowing?
Cryptocurrencies in Everyday Payments
Paying with Bitcoin? Yes, but not exclusively. The biggest buzz is around so-called stablecoins - digital currencies pegged to the dollar, euro, or other real-world assets.
PayPal has introduced its version of a stablecoin – PYUSD. Visa and Mastercard are testing settlements in USDC (a stablecoin pegged to the USD). A growing number of e-commerce platforms are enabling cryptocurrency payments - for example, Shopify, WooCommerce, and even some airlines. The same applies to selected games and even real estate sellers (for example, in Spain) also support crypto transactions.
Biometrics instead of a PIN. Convenience or risk?
Instead of a card and code, you can use your face, voice, or fingerprint. Every year, more and more banks and stores allow you to pay this way.
In China, you can already pay with a "face scan" - for example, in Alibaba's Hema chain stores. In Brazil and India, biometric payments are being tested at everyday service points.
Biometrics offers tremendous convenience, but also controversy surrounding privacy and data security, so it's worth understanding both sides.
Never lose your wallet again…
Because you don't need it! What's more, you don't even need your phone anymore. Now you can… wear the card.
The McLEAR ring works like a contactless card. And K-PAY is an NFC module that you can insert into a watch or bracelet. NFC module is a technology enabling wireless communication over very short distances
Buy now, pay later. So you don't need money to make a purchase
BNPL, or "Buy Now, Pay Later," allows you to buy a product and pay for it, for example, in 30 days or in several installments – interest-free. Klarna, Affirm, and Afterpay are giants with millions of users worldwide. It's a convenient solution, especially in e-commerce, but it's easy to forget that you're spending real money. Unfortunately, for many people, it's the first step towards debt and a lower credit score.
Voice, Augmented Reality, and AI - A New Quality of Payments
Voice payments are developing rapidly in the US and the UK. A simple command to the voice assistant, such as "Alexa, pay my bill," is enough to complete the transaction - without clicks, logins, or passwords.
More and more brands, such as IKEA and Nike, are testing AR-based solutions. Thanks to them, you can "try on" products in space, make purchasing decisions in real time and immediately complete the payment with a simple gesture.
Artificial intelligence is also entering the game. AI analyzes our behavior, anticipates needs, and makes personalised offers and the entire shopping process, from inspiration to payment, becomes more automated and seamless.
What does all this mean for you?
Knowledge of alternative payment methods isn't just a curiosity, but a tangible advantage - regardless of who you are.
Are you investing? Then you see the direction in which the market is developing and can more accurately assess the potential of companies in the payment industry or new technologies. Do you run a business? Then you understand which solutions can attract customers and make shopping easier. Are you a consumer? Then you know what happens to your data and money and you can make conscious choices.
Alternative payments are not a passing trend, but a sustainable development. Awareness of this evolution is simply a part of financial know-how today.
