Could there ever be a universally used payment method?

Universally Payment Method

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The days of paper money ruling supreme are over, and there is even a chance that one day in the future there will be no physical money left in the world. With technology advancing and presenting a wealth of new payment options, consumers are realizing that there is often no need to carry cash. It seems safe to assume that e-wallets and cards will continue to surge in popularity, but will there ever be one payment option that reigns over all and becomes used across the planet?

In recent years, some cryptocurrency enthusiasts have begun to think that bitcoin could be the answer to the question of a singular universal currency. And the idea behind the digital coin invented by Satoshi Nakamoto does make a lot of sense. In theory, bitcoin could negate the need for the use of fiat currencies, particularly in an online situation. As the internet is increasingly used for a greater number of things, there is an increasing call for a universal currency such as this. Bitcoin allows for low-cost transfers across borders, which is obviously beneficial for customers and business owners alike. As it stands, though, there is nowhere near enough adoption of bitcoin for it to take over the world, and the currency’s fluctuating price puts a lot of investors off.

While the idea of a sole currency is a novel one, at the present time sites that have a variety of payment methods are prevailing over their rivals. That is very evident in highly competitive online sectors. In the online casino industry especially, operators have to work hard to pull in clients due to the competitive nature of the sector. One of the ways they do this is by making a wide variety of payments available to customers. For instance, when you read more about Ikibu casino you will see that the site offers a great number of deposit options for its customers. These include Skrill, VISA, Neteller, and MasterCard. Depending on a customer’s circumstances, one payment method may prove more advantageous than using a different one.

One factor that makes it seem as though a universal payment method is a long way off is that it would be extremely hard for it to please everyone. At the moment, each of the various payment methods appeals to different people for varying reasons. For example, some customers like the fact that by using Paysafecard they don’t have to divulge any personal details online. Others who use PayPal enjoy the security and assurance it provides in that it is easy to get one’s money back if an order is canceled. If something like bitcoin was to become a global currency used by everyone, it would have to incorporate some of the features that make these other payment giants so popular.

The fact that varied payment methods are so popular nowadays means that we are probably a long way off from having a universal payment system or currency. Bitcoin or another cryptocurrency could one day be the answer, but at the moment it’s all pure speculation.

Could there ever be a universally used payment method?