The advantages and disadvantages of different paperless payments

What is a dematerialized means of payment?

A dematerialized means of payment is a financial transaction method where the Money is exchanged electronically , without the use of physical cash or cheques. These methods include transactions via bank cards, e-wallets, online payment systems or NFC-enabled mobile devices.

What are the different forms of dematerialized payment?

The most common forms of dematerialized payment include :

• Credit cards : Use of physical or virtual cards for online or in-store transactions.

• E-wallets : Secure storage of payment information for fast, easy online transactions.

• NFC (Near Field Communication) : Technology enabling contactless payments via mobile devices, watches, cards or any connected object.

• Online payment service providers (PSPs) : Services such as PayPal or Stripe that facilitate online payments.

• Cryptocurrencies : Use of digital currencies such as Bitcoin for secure online transactions.

• Payments via chatbot : Systems enabling transactions within a chat interface.

• Buy Now, Pay Later (BNPL) : Services offering the possibility of buying immediately and paying later.

• Bank transfers : Money transfers between local or international bank accounts.

1. Banking card

The bankcard is one of the most widespread electronic payment methods, and its use is constantly increasing. In 2020, more than 52% of global payments are made by card . These cards facilitate online and in-store transactions, offering a fast and secure payment method.

2. E-wallet

E-wallets, or electronic purses are an innovative form of dematerialized payment. According to a study by Grand View Research, the global market for e-wallets is expected to reach 7,580.1 billion by 2027 .

This type of payment allows users to store a variety of payment information and use it easily for online or in-store transactions.

3. NFC

NFC or Near Field Communication is a contactless technology revolutionary in the field of dematerialized payments. It enables fast, convenient transactions simply by using an NFC-compatible device (such as a smartphone, bank card, payment terminal, music festival wristbands, etc.).

These devices enable transactions to be carried out via integrated payment applications such as Apple Pay ou Google Pay .

According to a study by eMarketer, 30.8% of smartphone users in the United States made a mobile payment in 2021.

4. Online payment service providers (PSPs)

Online payment service providers, such as PayPal , Stripe et GoCardless offer a secure platform for online transactions.

Hero Checkout offers an online payment solution optimized for B2B transactions . She simplifies the online payment process for companies, offering a smooth, secure user experience with features tailored to the specific needs of commercial transactions.

5. Cryptocurrencies

Cryptocurrencies such as Bitcoin , Ethereum and others altcoins are virtual currencies used for decentralized transactions on the Internet.

Platforms like BitPay enable businesses to integrate cryptocurrency payments on their websites.

According to a rapport Deloitte More than 2,000 well-known American companies offer payment in Bitcoin. Among the innovative companies, OpenWeb even pays its employees in cryptocurrencies!

6. Paying in a Chatbot

Payment via chatbot is an emerging technology that enables customers to make s transactions directly within an automated conversation. Companies like SNCF et Subway are already using chatbots to guide customers through the purchasing process, including payment.

7. BNPL

The concept of Buy Now, Pay Later "(BNPL) enables customers to buy products immediately and defer payment often without interest. This payment method is gaining in popularity in e-commerce.

Hero offers integrated solutions for easy implementation of BNPL, facilitating B2B transactions while optimizing the customer experience.

8. Bank transfer

Le bank transfer is a traditional and reliable dematerialized payment method, where funds are transferred from one bank account to another. This process can be initiated manually or automatically.

Visit SEPA transfers offer a standardized and efficient solution within the European Union, while the international transfers meet other standards.

How secure are paperless payments?

Dematerialized payments offer enhanced security thanks to advanced technological measures. Each dematerialized payment method has its own security configuration.

• Credit cards :

They include verification systems such as codes PIN, the two-step verification and the data encryption .

• E-wallets :

These electronic wallets often use a SSL encryption to protect payment information.

• NFC and Mobile Payments :

They offer secure authentication systems, such as the facial or biometric recognition to authenticate transactions.

• PSP and chatbots :

These platforms guarantee safety through advanced encryption protocols and fraud prevention systems .

• Cryptocurrencies :

Although they are decentralized, cryptocurrencies use technology blockchain to ensure the security and transparency of transactions.

• Bank transfers :

They are often considered one of the safest methods of payment, especially SEPA transfers, which follow strict security standards.

How much does it cost to implement paperless payment solutions?

Implementing paperless payment solutions involves different costs, depending on the method chosen. Here's an overview of costs for some of the most common methods:

Credit cards :

• Investment costs for a card reader range from 50 to 500 euros.

• Companies generally pay around 2% of the amount of each transaction.

Online Payment Service Providers (PSP) :

• PayPal, for example, charges a commission of 3% plus 0.39 cents per transaction.

• Stripe offers different packages with variable fees depending on usage.

Cryptocurrencies :

• Platforms like BitPay offer crypto payment services with variable fees depending on the transaction.

Mobile Payment Solutions :

• Costs depend on the provider and may include subscription or transaction fees.

Bank transfers :

• SEPA credit transfers are generally free of charge or involve minimal fees.

• International transfers may incur higher costs, depending on the bank and the country. This commission can sometimes be as high as 10% of the amount transferred!

For companies interested in innovative payment solutions and personalized, Hero offers tailored payment options, especially for B2B transactions. Visit tarifs of Hero vary according to the specific services and needs of the company, offering maximum flexibility and adaptability.

Paperless payments represent a significant advance in the world of commerce, offering speed, security and convenience for businesses and customers alike. Hero, with its customized solutions and expertise in B2B payments, is the ideal partner for companies wishing to make the most of dematerialized payments. dematerialized payments .

Frequently asked questions :

What's the safest way to get paid?

Online payment by bank transfer is often considered the safest way to pay, both for the consumer and the merchant. It offers a high level of security and reduces the risk of fraud.

How do you dematerialize your bank card?

To dematerialize a bank card, you can use services such as Visa with Google Pay or Apple Pay. These services let you add your card to a mobile app for easy, secure payments.

How do banks secure dematerialized payment methods?

Banks use a variety of security measures to protect dematerialized payments, including the dynamic cryptogram, a security code that changes with every transaction, offering added security against piracy and fraud.

What's the best application for paying with your phone?

Google Pay is the most popular app for mobile payments, thanks to its ease of use and compatibility with many devices, including some connected watches.

How do I dematerialize an invoice?

Hero enables you to dematerialize your invoices and integrate them into your automated accounting process.