BAKU, Azerbaijan, June 9. New technologies such as "click-to-pay" and invisible payment systems called "invisible payments" will become one of the main trends in the financial sector in the coming years, Digital Office Leader at the ABB Bank, Mehmet Ali Savas, said during the 10th International Finance and Banking Summit taking place in Baku, Trend reports.
Savas noted that Visa is expected to introduce major innovations in this direction.
"Click-to-pay technologies create great opportunities, especially in the field of invisible payments. At the same time, there will be serious changes in the e-commerce sector," he pointed out.
According to the ABB official, processes such as entering a card number or sharing card information separately during online purchases may be completely eliminated within the next three years.
"Today, there is already a significant decrease in fraud cases. With the wider application of artificial intelligence and simultaneous analysis of various transactions, faster and more seamless service will be formed for users," he emphasized.
Savas also noted that blockchain technologies and chain-based payment systems will be one of the main development directions of the financial sector in the next five years.
In his opinion, the tokenization of real assets is one of the fastest growing areas in the global financial market.
"There is great potential and large volume in this direction. International reports also note that this market is developing rapidly. I hope that Azerbaijan will not lag behind in this process," the ABB representative added.
