Tactical Advice

The Death of Cash and the Future of Payments [Infographic]

The way we pay is headed for a technology makeover.

Disruption is one of technology's fortés. It has successfully made the typewriter, the gramophone and the 3 1/2-inch floppy disk obsolete. While some might mourn the loss of certain pieces of retro technology, they shouldn't. That's the way technology has always been.

What's the next sector due for a head-spinning dance with the evolution of technology? Payments. There's an explosion of interest and activity in the sector as payments are going mobile and fewer people rely on cold hard cash.

This cashless economy really got its start with the credit card, which replaced paper and coin currency with a single plastic card. But for the past 20 years or so, payments haven't really stretched beyond the emergence of the credit card. But now, that's about to change.

Voucher Codes, a U.K.-based shopping and coupon site, takes a look at the overall payment landscape in its "Payment Wars" infographic. The infographic stacks mobile point of sale with contactless payment, carrier billing and online wallets. It's early to say if one or many of these new payment type will claim victory over the other, but it's safe to say that users now have plenty of payment options to choose from.

Here are a few highlights from the payments infographic.

  • $670 billion is the dollar amount of transactions that mobile POS is estimated to process by 2015
  • $320 billion is the dollar amount of transactions that contactless payments are estimated to process by 2016
  • 40 to 90 percent is the amount that carriers deduct from direct carrier billing
  • $315 million the amount of transactions that PayPal processes a day

by visually. Browse more infographics.

Sign up for our e-newsletter

About the Author

Ricky Ribeiro

Online Content Manager

Ricky publishes and manages the content on BizTech magazine's web site. He's a writer, technology enthusiast, social media lover and all-around digital guy. You can learn more by following him on Google+ or Twitter:

Security

Heartbleed: What Should Your... |
One of the biggest security vulnerabilities has almost every user and every industry...
Why Businesses Need a Next-G... |
Devices investigate patterns that could indicate malicious activity.
Review: HP TippingPoint S105... |
Next-generation firewall can easily replace a stand-alone intrusion prevention system....

Storage

The New Backup Utility Proce... |
Just getting used to the Windows 8 workflow? Prepare for a change.
How to Perform Traditional W... |
With previous versions going unused, Microsoft radically reimagined the backup utility in...
5 Easy Ways to Build a Bette... |
While large enterprises have the resources of an entire IT department behind them, these...

Infrastructure Optimization

Businesses Must Step Careful... |
Slow and steady wins the race as businesses migrate IT operations to service providers,...
Why Cloud Security Is More E... |
Cloud protection services enable companies to keep up with security threats while...
Ensure Uptime Is in Your Dat... |
Power and cooling solutions support disaster recovery and create cost savings and...

Networking

Securing the Internet of Thi... |
As excitement around the connected-device future grows, technology vendors seek ways to...
How to Maximize WAN Bandwidt... |
Understand six common problems that plague wide area networks — and how to address them.
Linksys Makes a Comeback in... |
The networking vendor introduced several new Smart Switch products at Interop this week.

Mobile & Wireless

Mobility: A Foundational Pie... |
Other technologies rely on mobile computing, which has the power to change lives, Lextech...
Now that Office for iPad Is... |
After waiting awhile for Microsoft’s productivity suite to arrive, professionals who use...
Visualization Can Help Busin... |
Companies need to put their data in formats that make it consumable anytime, anywhere.

Hardware & Software

Review: HP TippingPoint S105... |
Next-generation firewall can easily replace a stand-alone intrusion prevention system....
New Challenges in Software M... |
IT trends such as cloud, virtualization and BYOD pose serious hurdles for software...
Visualization Can Help Busin... |
Companies need to put their data in formats that make it consumable anytime, anywhere.