Digital Payment Solutions Give a New Generation Greater Flexibility
FinancialBuzz.com News Commentary
As consumer trends change overtime, many businesses have been forced to adapt accordingly. In recent years, one of the biggest demands in the consumer industry is more efficient payment systems. Traditionally, customers purchased products or goods at retail locations. However, with the rise of e-commerce, and now with the damage inflicted on retailers by the pandemic, online shopping has become highly popular among consumers. With the emergence of online platforms, digital payment solutions have rapidly evolved throughout recent years. Typically, most payment providers are advancing their systems to send or receive funds quicker while providing top-line security. Payment technology is also expected to continue its growth as providers look for different and more innovative approaches. Overall, the digital payment industry is expected to accelerate with the proliferation of smartphones and more initiatives being taken to implement payment systems, and to provide improved customer service at point-of-service terminals. In fact, mobile payments are quickly gaining prominence with the continued growth of online shopping. Coro Global Inc. (OTC: CGLO), PayPal Holdings, Inc. (NASDAQ: PYPL), Square, Inc. (NASDAQ: SQ), Bottomline Technologies (de), Inc. (NASDAQ: EPAY), Adyen N.V. (OTC: ADYEY)
The industry is mainly being fueled by the changing demographic trends across the world. Specifically, millennials are responsible for the broad adoption of digital payment solutions. As a generation that is heavily influenced by technology, their daily habits are intertwined around their phones, computers, and the internet. “What remains key is consumer choice. Smartphones have democratized how companies innovate and placed the consumer back at the heart of the development process. People want a frictionless experience, taking the path of least resistance, just as long as they can remain secure,” said Bill Gajda, Global Head, Innovation & Strategic Partnerships at Visa. “Millennials will continue to drive mobile money management and payments. More than nine in ten (91%) predict that they will be using their mobile devices for financial purposes in three years’ time, far above the national average of 72%.”
Coro Global Inc. (OTCQB: CGLO) announced last month, “an alliance with Dillon Gage, the world leader in physical precious metals trading and technology, to support the operations of its mobile payment app CORO, which allows customers to easily exchange, send and save gold as well as U.S. dollars.
CORO customers can instantly exchange U.S. dollars for gold on the app, as well as save gold and send it to other CORO customers. Customers’ gold accounts are matched by their equivalent in physical gold, which is audited and securely stored by the International Depository Services Group, a wholly-owned subsidiary of Dillon Gage.
CORO has just been released in the Apple App and Google Play stores to residents of Florida, Arizona, Arkansas, Alaska, Delaware, Idaho, Montana, Massachusetts, South Carolina, and Wisconsin. The company is planning to release CORO in additional U.S. states over the coming months.
‘It’s extremely important for our customers to know that the amount of gold they see on their screen represents a tangible amount of physical gold in an independent vault,’ said J. Mark Goode, CEO of Coro Global Inc. ‘Given today’s economic uncertainty, we support the use of gold as money, which is physical, and historically resilient.’
The security of customers’ personal data and their money has always been important to Coro and its partners. With more than 40 years of experience serving precious metals dealers, financial institutions, banks, and brokerage houses around the globe, International Depository Services Group is well positioned to insure, audit and verify all of the physical gold purchased by CORO customers.
‘We believe that gold should be accessible to everyone,’ said Mark Furmanek, COO of Dillon Gage. ‘We’re proud to bring our innovative experience to help support CORO’s mission of democratizing access to gold.'”