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4 digital payment methods that will replace debit and credit cards

These days there is no need to carry cash around anymore, thanks to the huge availability of chip and pin and contactless card payments. And, although these payment methods are quite convenient, they may soon become obsolete. There are now more and more emerging digital payment methods that have a good chance of outperforming credit and debit cards. So, what methods should we look for?

1. Biometric payments


person using biometric security stamp
Image Credit: matsuyuki/Flickr

You probably have a fingerprint sensor on your smartphone that you use regularly. Well, such technology is now incorporated into biometric payments. This could include fingerprint identification and incorporate other types of biometric technology, such as pupil scanning.

In this case, you won’t need a card or device to make a payment. Instead, the system will recognize your specific body part and link it to your bank account. It’s super convenient, considering you only need yourself to pay. However, not everyone likes the idea of ​​having their unique fingerprint ID on file. It really depends on the individual!

2. Voice recognition


standing microphone

Another technology you may have seen or used. Although you can use a voice command feature on your phone to perform functions, it does not involve recognizing a specific voice. Speech recognition, however, does. This technology works by breaking down a voice recording into different segments and analyzing them using specific algorithms, allowing the system to recognize the voice in question.

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Related: Are contactless payments really secure?

Voice recognition could be a great alternative payment method to cards, since you only need your voice to pay. However, this method could be vulnerable to impersonators who imitate the voice of the bank account holder to authorize payments on their behalf. The security of this payment method is essentially based on the ability of the voice command device to distinguish between voices, even if they are very similar.

3. Portable payment accessories


wrist smart watch

Smart accessories have been a thing for a while now, including smartwatches. Big tech makers like Apple and Samsung are offering great smartwatches, which can be used to pay without a card on a typical terminal. The smart contactless payment accessory uses the same NFC technology as a smartphone, by simply holding the watch close to the terminal.


These watches are becoming increasingly popular for a number of reasons: they can track your steps, allow you to easily answer calls and, of course, allow you to easily pay. So, we could see this type of technology slowly overtaking traditional credit and debit cards in the future.

On top of that, we may see similar accessories designed specifically for payments alone, which will likely cost a lot less than a typical Apple or Samsung smartwatch.

4. Smartphone wallets


man using smartphone

Smartphone wallets, or digital wallets, usually come in the form of an app, like Google Wallet, Square Cash, or PayPal. These apps connect your bank account to a digital wallet, where you can make direct contactless payments using your phone and use Near Field Communication (NFC) to connect to a store’s terminal to make the payment.


Related: Which NFC payment app gives you the most security?

You may have already used this payment method. It is becoming quite popular! People can’t steal and use your smartphone wallet as easily as they could with a credit or debit card, and you don’t have to worry about forgetting your real wallet if you have a smartphone wallet. at hand.

Who knows which payment method will replace debit and credit cards?

With so many different digital payment methods being developed right now, it’s really unclear which one will take center stage in the near future. We’re already seeing credit and debit cards becoming less and less popular, so there’s definitely a place opening up for the next big payment option. We can’t wait to see what it is!


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