The tech industry is always in innovation mode, and with the entrance of digital banking and blockchain technology, payment options are only getting better. Online businesses are already shifting to digital banking, where customers use two unique features—online and mobile banking. So what exactly entails digital banking?
Online or internet banking allows a user access to banking services through a bank's website from a PC. Some benefits include checking account balances and paying utility bills or loan applications via the online banking portal.
Mobile banking is the way to go for customers who wish to access the many banking features through a mobile app either on a smartphone or tablet device. All that's needed is diving into the Apple Store or Google Play Store and downloading the app, depending on the bank where you hold an account. Like online banking, customers need their login details to access the mobile app platform
Another huge part of the digital migration is the use of blockchain technology, specifically cryptocurrencies. Cryptos are gaining strides in e-commerce and other online payment platforms. Bitcoin, Litecoin, Ethereum or Tether—you name it—the fact is, the crypto usage is rising year-on-year. And it's no surprise to find cryptos nowadays as a viable online casino payment method.
However, cryptocurrencies haven't fully penetrated the market due to a lack of proper tech to accommodate day-to-day real-world use. And that's where tech start-ups come into play. Tech start-ups, regarding cryptocurrencies, are companies that develop innovative products and services that try to increase the usage of cryptos.
So what are some exciting ways tech start-ups are using to improve contactless bitcoin payments?
Bracelets now find a place in online transactions apart from being the usual decorative item. The wristband enables the wearer to pay for a product using bitcoin while users can add funds to the 'bracelet wallet' at a designated ATM or online cash transfer service.
If you're a Canadian native or visiting the country, tons of tech start-ups allow smooth crypto payments, a good example being WristCoin.
WristCoin's wristbands come ready to use with fascinating customizable aspects such as access control, payments and cashless ticketing. If users want to make payments without an internet connection, WristCoin provides mobile terminals for top-ups and accepting payments.
The tech start-ups have provided festival hoppers, music concert lovers and event-goers a much-needed cashless experience. Here, event organizers and various businesses pre-order bracelets from tech start-ups with the required features, saving users the hassle of moving around with cash.
Other wearables that allow contactless payments include smartwatches and fitness trackers, thanks to reputable tech firms such as Apple Inc., Samsung, Tappy, Fitbit and Google LLC. The tech start-ups utilize near-field communication (NFC) tags and quick response (QR) codes, enhancing any point-of-sale system accepting Visa or Mastercard contactless payment.
For example, Tappy integrates biosensors and NFC technology in its wearable device. With the smartphone app, users can connect their payment card to activate the payment option in their bracelet device.
Cryptocurrencies can change how transactions are carried out worldwide. Aside from being one of the depositing options in online casinos, cryptos are gaining a foothold in other activities. Whether it's a bar, event, festival or shop, users can easily make contactless payments using wearable devices.
Immediate transactions are more than cryptos' only strongest suit. With transparency and security high on the list, it's no wonder Mastercard is making advancements to ensure crypto becomes part of users' daily transactions. Mastercard will bridge the gap between significant banks and crypto trading platforms to eliminate the stumbling block of regulatory compliance and finance.
Google LLC is hot on the trail of Mastercard, partnering with Coinbase to allow customers to pay for the tech's cloud services, such as cloud storage using crypto. And if a user is looking for fun in poker, progressive jackpots or live dealer games? Online Canadian crypto casinos will ensure seamless deposits and withdrawals using the available cryptocurrencies.