Contactless payment for purchases at the point of sale (POS) has retained its pandemic-boosted popularity, and physical cards and mobile devices equipped with near-field communication (NFC) technology allow consumers to simply and conveniently tap to pay in-store at virtually all retailers and restaurants.
While NFC enables these alternative payment methods at POS consoles, digital wallets are the backbone of mobile device payouts. Whether Apple Pay, Google Pay, Samsung Pay, Amazon Pay or PayPal, the concept is the same. They provide secure storage of and access to the consumer’s credit or debit card information for each transaction. Digital wallets also offer a convenient way to store loyalty and rewards cards, transportation and event tickets, and drivers’ licenses in a handful of U.S. states.
GSTechnologies (LON:GST) overall development of the group includes large customer accounts and growing their blockchain payment and financial services business, with blue sky opportunities in new Disruptive Technologies with synergy to their existing business.