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Special | Invisible payments: what they are, advantages and what are the contactless payment methods

The TechMarkup team decided to analyze people’s knowledge about a topic that is trending both in the digital banking as in the payment of services through different Applications, such as rappi or Uber. And it’s about the not so well known ‘invisible payments’.


On Perufor example, when asking workers (including managers) and clients about this type of payment in different financial entities, they had no idea.

Meanwhile in Colombia and Chile, the term invisible payment has been heard but there is no clarity about it. On the other hand, Mexico is the country in Latin America where various forms of invisible payments are being used the most.


“The invisible payments are the evolution that payments have had, virtual channels and everything about the digitization of banking (payments with QR code, contactless payments, among others). In a nutshell, invisible banking is when the bank takes a backseat, as well as the payment itself”, he stated for TechMarkup Daniel Aguilar, Vice President of Business Development for Veritran Latin America.

What are invisible payments

The pandemic It has accelerated the penetration of contactless payments, both due to the advantages it offers from a hygienic point of view and because of its convenience. “Contactless payment, contactless payment or Near Field Communication (NFC) is a much safer way to pay directly for products or services, being a technology that allows payments to be made only by bringing the card close to the terminal or device cash collection,” he said. Katherine Benel ZapataBusiness and Services official at Scotiabank de Perú to TechMarkup.


Also read: Special | Why the face and footprint of a human being are worth more than cash today

When talking about invisible payments, reference is made to technological systems that They allow the user to make purchases in an establishment without having to pay by physical means, such as cards or cash.

“The payment of a trip is linked to the recognition of the user, through payment data stored in the cloud, similar to what happens when you have to pay for a trip with Uber, Beat or Cabify: the driver completes the trip and the charge is made directly on the card whose data is entered only once in the application. Users can’t do anything but get out of the car.” Aguilar explained.


Therefore, users of one of these systems can make payments through applications that store card data in the cloud, and you only have to use a smartphone, for example, to pay the amount due.

Advantages of contactless payment

Katherine Benel highlighted the following 4 Advantages of using contactless payment technology:

– User data is fully protected. “The person can guarantee that your card number, validity, name and security code (CVV) will not be exposed, you will already have a card with you at any time.”

– It is a very simple and quick tool to use. “This method saves you time, as it has been proven to be up to 6 or 7 times faster than traditional card transactions.”

– You can preserve better hygiene because money is known to have a lot of germs, and even more so in a pandemic period.

– It is a technology used in many countries of the world.

digital technology security

In addition to providing a convenient and easy shopping experience, it should be noted that invisible payments are based on reliable digital technology. In other words, they run processes in a secure environment without affecting user data.

The flexibility and reliability of these systems is also an asset for companies that choose invisible payments, as it allows them to provide the full user experience.

What are the methods that exist of invisible payments

There are many types of invisible payments to replace traditional payment methods, like the use of microchip. Many companies dedicated to nanotechnology continued to study the security of these devices every day to increase in future implementations. According to the AFP Report of May 2021, in Sweden, around 6,500 people already use this technology.

The use of technology blockchain (as a means of payment) has begun to be incorporated by companies, for example amazonwhere services like moon pay allow the use of certain digital assets to perform check-out. Another example is AT&T, which has also adopted the use of bitpay as a means of payment for its customers.

The virtual reality (VR) is another of the methods that many companies, being one of them Alibaba what are in the process of implementation; although so far it has not become a specific plan, so the system is being worked on as an alternative to credit cards.

Also, payments can be made with QR codes; For example, it is already a reality on the Alameda-Nos line of the Central Train in the Santiago de Chile Metro. This new function includes new lathes with a customizable seven-inch screen and speaker, which facilitates the possibility of giving notices and that the customer can scan the QR code.

Lastly, you have face payment or biometric payments. To extensively address the aforementioned term, do not hesitate to enter the next [enlace para leer un artículo dedicado exclusivamente a este tema], and thus be able to understand its definition, how they work and which countries in Latin America are using this technology.

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