The Rise of Digital Payment Systems

 

Hi everyone!! 👋👋

Welcome to my 3rd ever blog, I hope I haven't bored you all just yet!😂😂

Today I am going to briefly cover another hot topic that has affected us all in society one way or another, and that is the rise of digital payment systems.

I think it is safe to say at this stage, that paying for stuff in cash is quickly becoming a thing of the past, especially for the younger generation. Nowadays, the onset of online payment systems, like Revolut for example, has made the transferring of our money much more quicker, with many more people opting to use Revolut as their main banking app and move away from the more well known banks like AIB or Bank of Ireland.

I have Revolut myself and in many respects it does make my life easier, in terms of payments and transferring money, but at the same time I have still maintained my account with one of the more traditionally used banks. I have done this because I am still slightly sceptical of Revolut when it comes to the other hot topic..... cyber security!!😬😬 

Cyber security is a problem for all major banks and payment systems but as Revolut is still relatively new in comparison to others, I will continue to remain sceptical for the moment. 

I have similar thoughts on digital wallets like Google Pay. Nearly everyone my age and around me is using this, but I still remain sceptical and continue to carry a physical card. Maybe I am being old fashioned, what do you think???

As I am having doubts myself (I'm sure I'm not the only one!), I am going to attach a link to a short video I found discussing the benefits of this growing online payments trend and an interesting articles published by Forbes. I hope it helps with anyone like myself who may be having doubts like myself.

The Evolution Of The Payments Landscape: How Digital Transformation Is Impacting Financial Services (forbes.com)

As always, I hope you enjoyed and gained something from this blog, and I hope to welcome all back to my next blog in the coming days.

Talk to you again soon!!!👋👋

Comments

  1. Abbie13 November 2024 at 04:40

    Hi Cillian, great blog, I found it very informative!

    ReplyDelete
  2. Cillian McEvoy Blog13 November 2024 at 10:59

    Hi Abbie, thanks for the comment, much appreciated!

    ReplyDelete

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