With Square going public yesterday we evaluate the ways innovative new payments can improve our future financial lives.
As cards become more beneficial for consumers the need for cash for small denomination purchases will become lessened.
With an increase of electronic payments also come an increase in data collected to better understand spending behaviors and habits.
The transaction time to transfer funds between accounts will significantly reduce and technology improves.
Streamlining processes and building new technology on existing infrastructure will reduce costs for new electronic transactions and execute electronic transfers.
Transactions across the globe will become more secure and transparent greatly reducing the opportunities for fraudulent activities. This leading to a greater piece of mind for consumers and businesses alike.