Pismo shared a poll on LinkedIn asking our followers which means of payments they prefer when purchasing online. 52% of the respondents chose virtual cards.
Although this is not a scientific survey, we all know that digital purchases and payments have increased continuously since the beginning of the Covid-19 pandemic. A global report by PwC and Strategy shows that 89% of respondents are confident about the continuous shift towards e-commerce compared to in-store purchasing.
Also, 97% of them agreed that real-time frictionless transactions are something customers look for to meet their expectations when paying for something. Virtual cards and digital wallets, our “winners” of the poll, offer more security and convenience to customers than regular credit cards, for example.
Many virtual cards offer dynamic CVV, which changes at every purchase, avoiding fraud. Digital wallets, on the other hand, transform the data of each registered card into tokens and encrypt them so that merchants do not have access to the customer’s information.
All the technology involved in these payments methods shows us we’re moving towards a digital transformation that will lead us to a cashless economy.
Want to know more about financial trends? Download our analysis about the world of post-pandemic payments.