What are invisible payments? How to add this payment system?

If you want the best possible payment gateway for your business, and you already have your sights set on the future, you cannot overlook seamless or invisible payments. OK, but what are seamless payments? These are payment systems that allow your customers to make their purchases in an automated way, without having to carry cash, a card, or any of the traditional payment methods; they will simply have to pay for their purchase and leave the store. It’s as easy as that, payments are simpler and safer than ever. Amazing, isn’t it? Checkout has never been so integrated into the shopping experience, nor has it ever been more convenient. Do you want to know more about the benefits of invisible payments, both for your customers and your business? Stay with us and discover this ground-breaking fintech trend that is revolutionising the market today but will be the norm in the future.

The best shopping experience with biometric data

Now you may be asking yourself, “how can a payment gateway not need a card, or NFC mobile payment?”. That is normal. The truth is that, although it does not use these identification methods, it does use more subtle ones. So subtle that the buyer (your customer) will not need to take out any payment method. And just as, if not more, secure than traditional payment methods. We are talking about biometric data: scanners that identify the customer and make the payment for them, reducing friction to a minimum and improving the experience of what has always been a “pain point” in the buying process: the payment. So, what is this biometric data? The Computer Vision Foundation study provides the answer: fingerprint, facial recognition, voice recognition, voice recognition, and iris pattern authentication.

  • Fingerprint authentication: perhaps the most familiar to our readers, a classic. Through ultrasonic scanning of the fingerprint, a 3D map of the fingertip is created, which is used to obtain a unique pattern for each buyer, previously associated with their bank details.
  • Authentication through facial recognition: Known by many as a method of blocking technological devices such as mobiles, tablets and computers. It is also one of the most secure methods. Highly accurate systems that recognise our face and issue the payment automatically, this time without requiring any contact.
  • Authentication through voice recognition: Also called a voiceprint. Not only because each person’s timbre is unique and irreproducible, but also because people have distinctive speech styles. One of the new biometric “keys”.
  • Authentication through iris recognition (or retinal scan): perhaps one of the least widespread at the moment, but also one of the most promising, due to its accuracy and security. Did you know that, like fingerprints or facial features, people’s irises are unique? It is precisely because it is so distinctive that it is being used as a new biometric data to increase security. Although it is not yet widespread, it is set to become popular in the medium term.

But invisible payments do not just use only one of these payment methods. It depends on each case; some use only facial recognition, or fingerprint recognition… Others use a combination of these… Still others use less sophisticated and less impressive, but just as effective methods such as shopping apps linked to the payment details, which the user uses to process the order, which is then simply confirmed by the user.

These are just some of the many (and increasingly innovative) payment systems in addition to invisible payments. Fintech trends point to a shopping experience that is as integrated as possible, in which users only have to choose the products and services to be purchased and can get on with their lives. The aim is for payments to stop being one of the “pain points” in the purchasing process, significantly improving the user experience.

Maximum security for your invisible payment gateway, with tokenization technology

When someone hears that conventional payment methods are disappearing for the first time and that users are not going to have to use cash, cards, or even their mobile phones to pay, their question is often: “Is that secure yet?”. Because this is not only a concern for the user; it is also a concern for the business owners who wants to ensure the best for his customers. Well, we have good news: invisible payments are as or more secure than traditional payment gateways. How? Through tokenization technology.

What is tokenization and why will it allow you to have the best payment gateway in 2021?

Tokenization is a security system with greater security than traditional encryption. Thanks to tokenization you will be able to convert your customers’ bank details into tokens, or “non-confidential” encrypted data (and therefore impossible to decrypt), which will act as your customer’s identification. As you are the one who stores their data and knows their token, you will be able to quickly identify your customer and make the payment without having to expose their data at all. Simple, isn’t it? This way you can guarantee your customers total protection of their data on your gateway, offering them peace of mind and building customer loyalty.

The best Fintech in Spain in 2021 is for small and large companies

If something sets us apart within the sector (and has led us to be the best fintech in Spain in 2021), it is our ability to solve real problems for companies and their teams, through financial technology, and providing unquestionable added value. Since 2009 we have been designing financial management services (such as our business intelligence dashboard) as payment technology (we are talking about our gateway, with more than 100 alternative payment methods, 20 different acquirers and available in 180 different currencies). And many more things that we know can help you optimise your financial management. Visit our website to find out for yourself and do not hesitate to contact us, shall we talk?