80 percent of United States residents support the payment methods and technologies, 1,000 consumers were surveyed and among the results of this the following was found:
- About 51 percent of the survey participants were paid electronically through direct deposit.
- Eighty-three percent of the respondents think traditional checks will be completely phased out within the next 83 years, and a third of these believe that checks will end in just 20 years.
- Only 11 percent of companies will continue their paper-based accounts.
- 54 percent of the companies believe that they will use the automatic payment service through bank accounts or credit cards.
- 52 percent think that payments will be made through mobile applications.
- 21 percent consider the virtual currency "bitcoin" as a very reliable currency within the next 10 years.
"New technologies in the area of payments continue to deliver more typing and simplification, better security, and collaboration, as well as notifications and faster availability of monetary funds." Said Pat McMonagle, director of payments operations at Viewpost.
The arrival of faster payment methods has come to increase the security and the control of the reduction of fraudulent payments.
According to survey results, many consumers expect advanced technologies to keep them safe:
- 50 percent of respondents think fingerprint technology will be used for authentication within the next 10 years.
- 35 percent thought that facial recognition will become a key element for authentication of payments within the next 10 years.
- 32 percent rely on facial recognition for electronic payment security.