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Banking Takes a Backseat to Technology

Payza Online Banking

It’s clear. People are going to the bank less and less all the time. First ATMs came along and made it easy never to go inside the bank. Now there’s little reason ever go to the bank at all. There’s not much left that can’t be done from home, with online banking and payment processors like Payza firmly established and taking control over more and more of the marketplace.

The use of online payments in retail in the US has grown by 17% in the last year, according to a report by comScore published May 9th, 2012. That 17% represent $44.3 billion increase in online spending in America alone. In the previous year, the growth was 12%, and the year before, it was 10%. The continuing growth in the first of 2012 represents the 10th consecutive quarter showing an increase in online retail penetration.

Mobilizing Payments

The commerce industry is currently in the midst of the next transformation. While online financial transactions are now a fact, the latest move is into mobile retail. As described by Theodore Iacobuzio, vice president of MasterCard Worldwide, “We are on the verge of one of the biggest changes in decades in how we pay for goods and services.” Iacobuzio is referring to how mobile payments are taking more and more of the online payments market, and are enabling people in Canada, the United States, developing nations like India, and emerging markets like Kenya to make easy payments for products and services whether locally or across the globe.

Goodbye Plastic – Hello Payza

As mobile payments take over and the need for plastic wanes, Payza is playing its part in the payment revolution by taking online and mobile payment services to a truly global level. Until now, emerging markets have been getting the short end of the stick by large established payment platforms, and people in developing nations haven’t had any widespread access to online payments.

“It is absolutely essential for Payza, and for any company in the e-commerce industry, to adapt quickly and stay one step ahead of the technological advances which are constantly changing the marketplace,” says Payza’s Director of Operations Tim Nixon. “The only way to truly serve the global marketplace is to offer an ever-growing range of options for sending and receiving money. That way, our members can use whichever method works best for them, wherever they are.”

With the advent of Payza, the world now has an easy way to make and accept online payments, send and receive remittances and conduct online business whether by smartphone, tablet or a regular lap-top or desk-top computer. By using Payza, you can rest assured that as the technology, tools and market evolve, you will have the latest at your fingertips.

References (2012, May 9) comScore Reports $44.3 Billion in Q1 2012 U.S. Retail E-Commerce Spending, Up 17 Percent vs. Year Ago. Retrieved from…

Iacobuzio, T. (2012, May 7). Who’s ready for mobile payments? The U.S., Canada… And Kenya on Retrieved from….