New payment types in the US - where are we headed? #banking #payments #digitalbanking

What new payment types are we seeing in the U.S.? The U.S. has the highest number of POS devices globally, which contributed to the delay in adopting chip cards. This delay often attracted criticism, but the cost of installing POS devices for all merchants is substantial. Consequently, it is unlikely that alternative payments will be integrated directly into POS terminals. However, alternative payment methods are increasingly prevalent online. For example, buy now, pay later (BNPL) is becoming more common through partnerships with third-party providers. But will account-to-account payments, such as those through Venmo or PayPal, and digital wallets, will be integrated into merchant services by acquirers?

[keithmcguire]

I don’t like any of these options because the banks and the government have too much access to our funds!