How 5G Will Impact Payment Processing in 2021 and Beyond

If you keep up with current events, you’ve likely heard talk of 5G and how it will transform life as we know it. Indeed, 5G is becoming more widely adopted and quickly revealing its impacts and potential.
For payment processing, 5G will affect its latency, scalability, and efficiency. Through innovation, 5G can significantly optimize payment processing to meet changing consumer demands.
As businesses continue to embrace digital and mobile services, understanding the effects of 5G is pertinent. This article will cover how 5G relates to payment processing and discuss four of the major impacts we expect to see.
What is 5G?
These days, the term “5G” is thrown around a lot – but how many of us actually know what 5G is?
Beginning in 2019, cellular companies started releasing the fifth generation of cellular technology. This generation is what is known as 5G.
Put simply, 5G is the network and technology that enables mobile devices to interact with one another and transmit data. As a result…

Written By: Deborah Boyland

Original Article: https://readwrite.com/2021/11/23/5g-will-impact-payment-processing/

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