If demonetization was the first impetus, COVID-19 may well be the second to accelerate the use of digital payments. Hence, organizations are now realizing the need to adopt strategies that depend less on passwords, by implementing multi-factor authentication systems. Besides changing consumer behaviour, which is embracing mobile technology to pay – payments is also being driven by mobile technology. Using sophisticated artificial intelligence across more than 100 applications and capabilities enables Visa to create a more secure payments ecosystem without sacrificing consumer experience. Though the current pandemic trains its focus on safe and secure digital payments for consumers, convenience is in the eye of the cardholder.

Source: Standard Digital May 12, 2020 11:30 UTC