How technology has shaped the world’s payment system for the better

If you take a look back in time, traditional financial institutions were the only establishments engaged in the facilitation of both local and international payments. Cash was the predominant instrument for making these payments, and along came the hassles. Theft, loss, and natural destruction are just some of the downfalls of when using cash. Soon after, checks came into play and were being used to make large purchases and were seen as a more suitable method instead of making payments. And then after checks, debit and credit cards were introduced. Whereby individuals could make payments with just their credit/debit card, anywhere they were. These cards are still being used today to make payments, and along with other payment solutions such as Money Transfer Operators and Mobile Wallets, you can send money and make purchases with ease. If you have been conducting international payments frequently and for a long time, you may have engaged the services of conventional institutions such as banks, to send money internationally. And you can attest to the fact that the road isn’t always easy, with these traditional methods. This is why Money Transfer Operators have developed financial solutions, to enable you to send money internationally with just your mobile device, anywhere you are.

Along with Money Transfer platforms, other financial solutions have evolved, some of which are;

  • Mobile Point of Sale;

This payment solution enables enterprises and small-scale businesses to receive payments from their customers with ease, wherever they are. This also provides convenience to customers who prefer to maintain a cashless policy and make large purchases.

  • Biometric Payments: Biometric payment technology has evolved over the years, and with this method, individuals can make payments through a fingerprint or facial scanner, in most cases.
  • QR-Code payments: This can be used by merchants to create a better customer experience, and with just a mobile device, individuals can make payments by scanning codes with the device. This payment solution has been in use for a long time, and wasn’t used to make payments predominantly but used to take menus in restaurants.

It is true to say that innovations such as these have shaped the world’s payment system for the better, as users are now provided with more convenience when making payments.

This list above isn’t exhaustive, and numerous payment solutions have evolved as a result of technology. There is no doubt that these solutions have made our lives better, because not only are they more secure but also faster. And that is why when sending money with ATL Money Transfer we can guarantee that your money transfers are 100% safe and secure. And there’s more, with just your mobile device, you can send money to over 60 countries at the best rates and at a low fee. Not to mention, that with our easy-to-use interface, you can send money with ease and within a short period. So why not send money with ATL Money Transfer.

 ATL money transfer is a payment platform trusted worldwide. With our office located In London, United Kingdom, we handle thousands of transactions daily and our sole mission is to make money transfers transparent and secure for everyone.

Put a smile on your loved ones’ face today, by sending money with ATL Money Transfer.

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