From the course: Digital Banking Fundamentals
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Digital payments
From the course: Digital Banking Fundamentals
Digital payments
- [Narrator] Digital payments, also known as electronic payments or e-payments, refers to transactions in which money is exchanged electronically without the use of physical cash or checks. These transactions evolve the transfer of funds from one party to another through various digital channels and platforms. Mobile wallets like Apple Pay, Google Pay, or Samsung Pay are methods of digital payments. Digital payments services allow customers to link their credit or debit cards to their smartphones and make countless payments at physical stores or online. Digital payments are becoming more popular and widespread has more people and businesses adapt them. They are changing the way we shop, bank, and interact with each other. Digital payments are the future of money.
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