Dapio Blog

How fintechs are giving customers more choice than ever before

It’s an exciting era for digital payments. Before fintechs entered the scene, choices were limited, opportunities lacking, and innovations glacial. Now, driven by improvements in technology and encouraged by lower barriers to entry, fintechs are delivering much more for consumers.

While the pace of this evolution has startled many, there’s been numerous contributing factors, not least the Covid-19 pandemic - accounting for the rapid takeup of digital payment services. Want proof? Nearly a third (32 per cent, 17.3 million people) of the adult UK population were registered to use mobile payments by the end of 2020, an increase of 7.4 million people compared to 2019.

As the world of e-commerce continues to embrace changes in the way people pay, it’s pretty clear that such trends will continue. And with such opportunities as Tap to Pay, BNPL, and Payment Links, it’s difficult to look back. In this article, we’ll explore a few of these burgeoning payment technologies, while asking what’s next for fintechs.

The rise of Tap to Pay


Tap to Pay offers merchants the opportunity to turn their smartphones into a card readers. With this technology, businesses great and small can take advantage of an all-in-one payment solution, without needing to invest in any extra hardware. This creates an ideal solution for business owners wanting a fast, portable, user-friendly option.

Given the rise of contactless payments in the past few years, it’s essential that merchants cater for the increased demand of cashless users. Now, that’s become a whole lot easier, thanks to Dapio’s innovative new product.

To demonstrate just how easy it is to receive a payment, our very own co-founder and CEO Kosta Du recently made the first ever Tap to Pay transaction in the UK. And we got it all on video! Take a look below:

https://www.youtube.com/shorts/5eJ2GWrbF00

Redefine ‘affordable’ with BNPL


Buy Now Pay Later (BNPL) is the latest revelation to hit the payments industry. The likes of Klarna, Zip, and Afterpay have spearheaded a huge expansion in consumer freedoms, allowing deferred payments for anything from home improvements to retail products.

Such companies allow purchases to be made using interest-free finance, while providing live tracking of any outstanding amounts that are due. The result? Customers can get instant gratification for their shopping needs. While we’ve talked in a previous blog about the potential dangers of relying on BNPL as a default payment option, it’s clear that such innovations are a great way for merchants to allow shoppers extra options at the checkout. This can help grease the wheels of commercial transactions, which is a huge positive during such times of economic uncertainty.

Payment Links


Payment Links are a great way for any kind of product or service provider to send and manage invoices online. Whether it’s payment for goods received, or simply a link to split a food bill, Payment Links provide ease, convenience, and security for both parties.

In essence, a Payment Link is a unique URL that directs buyers to a customised webpage. Here, clients can view an itemised list of goods and services rendered, and can complete transactions using the secure payment methods provided.

As a simple yet effective billing tool, payment links can be used in a variety of circumstances, including:

  • One-time payment links are shared through social media, instant messaging, text, or email.
  • Custom payment links are attached to email invoices, with detailed pricing breakdowns.
  • A clickable ‘buy’ button which redirects to a merchant’s checkout page

The bottom line


With customers enjoying more freedom than ever before, fintechs are providing a greater choice of how and when to pay. With the takeup of such emergent technologies increasing at a rapid rate, it won’t be too long before such changes become the norm. In the meantime, it’s up to digital payment companies like Dapio to continue to expand the boundaries of the possible, and to create tomorrow’s payment innovations, today.