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The Future of Digital Payment Systems

It seems that digital payment systems, which have been used for a long time and whose usage volumes are increasing day by day, will continue to develop and maintain their place as the popular payment system of the future, thanks to their high potential. The rapid adaptation of banks and e-commerce companies to such payment systems, especially with the widespread use of the Internet and smart phones, indicates that this growth and change will take place in the very near future. Payment systems, which are widely used with tools such as credit cards for now, are getting ready to gain new dimensions with other technologies in the future.

Research on this subject reveals that users are more interested in biometric payment systems, where they can make payments without the need for additional devices. This model, which does not require the use of additional devices or cards for payment, also seems to be the reason for preference with the high security it provides.

Digital payment systems promise high security and fast shopping.

Today, the security provided by limited methods such as passwords and partially fingerprints is developing in the future to include security measures such as palm print, retinal control and voice control. The speed and security promised by digital payment systems are of great importance for the healthy execution of intense trade transactions of the future. Below are some payment systems, some of which are currently in use, and some that are likely to be used in the future.

Payment with Smart Devices


Making payments with smart devices is already in use today. Using the applications developed by banks and financial institutions for these devices, contactless payment transactions can be made easily with the help of smart phones. It seems possible that smartphones  or other smart devices that will replace them in the future can be used as wallets. This payment method, which has found a limited number of applications for now, is among the common payment methods of the future. Smart devices, which are assisted in almost all of our works, are also in an important position in terms of payment.

Pay with Wearable Devices

Wearable technological devices are waiting for their turn to replace payment systems such as smartphones and credit cards in the near future. It is anticipated that these devices, which will be developed to be easy to carry, such as necklaces, watches, glasses or rings, and whose security is partially increased with biometric data, will provide speed and ease of use in payment transactions.

Fingerprint reading technology used in smartphones and cars will also be used in payment systems.


Fingerprint Payment


In fact, the fingerprint method, which is a very old identification method, is one of the most important biometric payment methods that can also be used for payment systems. Thanks to the developing technology, fingerprint control technologies are also increasing rapidly. Therefore, this method; It is expected to be an important payment method with the security it will provide. Systems, which currently have the capacity to control dozens of points on the finger, promise an even safer future with new measures to be added. Fingerprint system, which is an easier system to implement in terms of infrastructure transformation costs, is getting ready to take its place in the business world as soon as possible.

Payment by Palmprint

This system is based on scanning the entire palm as a method similar to the fingerprint method. Although its implementation requires a more costly infrastructure than the fingerprint reading system, it draws attention as a higher-level system in terms of security. With this system, the entire palm is scanned, including fingerprints. The system used in patient identification processes in the health sector today is among the digital payment systems of the near future.

Making payments with the face recognition system will replace contactless payment systems.

Payment with Face Recognition Systems


Some studies based on the idea of ​​integrating facial recognition systems used in some sectors requiring high security into payment systems are starting to be implemented by big technology companies. The system works in such a way that it can identify with data taken from tens of different points on the face. This system, which will be preferred especially because of the extra security it provides, is one of the systems that will be used safely in both regular stores and e-commerce stores in the future

Payment with Voice Recognition Systems


Although it is not seen as a very reliable method, payment with voice recognition systems is also among the payment systems of the future. Although the sound, which can change in the face of many factors such as illness, fatigue, allergic conditions, is not safe enough with today’s technical level, it is possible to make it safer thanks to the advancing technological developments. In this case, it seems that voice recognition systems can be among the alternative payment methods.

Payment with the iris control system is among the ambitious payment systems of the future.

Payment with Iris Recognition System


The phenomenon known as the eye recognition system is actually divided into retina recognition and iris recognition. Iris recognition, which is considered more secure than these systems, is used as a more secure system than fingerprint recognition. The system that works by converting the pattern on the iris layer of the eye into digital and making the controls over this data; It offers confidence, speed and ease of use.

Social Payment Systems

Social payment systems, which enable spouses, family members, relatives or friends to come together in a payment network within the framework of certain security rules, enable money traffic between group members to be made easily. Borrowing from friends, giving pocket money to children, sending or receiving money to spouses becomes an extremely simple process thanks to this system


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