According to Director General at Yandex.Money Ivan Glazachev, smartphone will remain universal payment method until chips are implanted in human body.  

“If we just imagine, smartphones can only be replaced by a technology, which will be able to free us from any device for transferring data or making payments, and that technology can be certain chip, implanted in human body. As long as these chips do not exist, smartphone will be universal, and it will own the future,” Ivan Glazachev said in an interview to RIA Novosti.

He noted that despite the fact that experiments are conducted with other payment devices, such as rings or jackets, smartphone is more popular as a payment method, as it gives the opportunity to pay both online and offline, i.e. contactless option.


Ivan Glazachev noted that current widespread use of internet globally is linked to the incorporation of smartphones. According to the data from last year, 68% of internet users have already tried mobile payments.

“Russia is quite a forward-looking country in terms of payment services. The rise in average volume of payments online goes hand in hand with activation of payment practices. Customers’ trust towards electronic payments has increased, which encourages people to spend more money online,” he noted.


66% of Russian users of internet regularly make payments with electronic wallets, while the indicator was 27% by 2012.
 
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