How Will We Use Credit Cards in the Future?

How Will We Use Credit Cards in the Future-Banner

How Will We Use Credit Cards in the Future?

The Future Is in the Cards

The average American has 2.6 credit cards. Credit cards can open the door to many perks and opportunities you might not have access to otherwise – when used responsibly. Cashback and airline points, not to mention ease and convenience, are just a few of the reasons credit card usage is growing at an unprecedented rate.

As technology evolves, experts agree credit cards will affect our day-to-day lives in new ways. Here are just a few of the developments you can expect to see in the not-so-distant future.



Mark Hamrick, a senior economic analyst for, said he thinks credit cards will pay for car rides — they just won’t be driven by humans. “There are innovations which have yet to take hold, but we generally expect,” Hamrick said. “These include payments for rides given by driverless cars.”

According to an article by Business Insider, experts also see credit cards taking the place of public transportation “swipe” cards. Amnah Sharma, the executive vice president of core products for North America at Mastercard, said “Mastercard worked with Transport for London to establish a system where people can use contactless cards to pay for tube, subway, bus, and some rail travel without having to load a transit card first.”


Smart Cards

One development that should have consumers breathing a sigh of relief is smarter cards. That’s because these cards could alert consumers to fraud, and help manage spending habits based on a budget you set. They’ll also help marketers deliver tailored content based on your purchases.

“We can say that cards will evolve with the application of artificial intelligence to create a more tailored approach to redeeming for rewards and coupons,” Julie Sherrier, managing editor for, told Business Insider.

Another possibility will save room in your wallet – and make cards much more efficient. “You’d literally carry around one card that could charge or withdraw all your accounts,” Richards said. “The card has a secure pin of its own and a display that can show the numbers of the different cards it holds.”


Click image to enlarge

Person-to-Person Transactions

According to the New York Times, cashless transactions are on the rise. And many credit card experts, like Jason Steele, believe credit cards will follow suit after apps like Venmo. “In the future, I believe credit cards will become two-way devices, allowing cardholders to not only make purchases but also to accept payments from people that owe them money,” he told Business Insider. “Payments would simply be credits to their card account … This would allow people to move money back and forth easily.”


Storing Secure Data

Do you press your thumb to the home screen to open your phone? Recently, Visa and Mastercard released credit cards that utilize this same technology, which is called biometrics. Eric Richards, co-founder of a website that compares credit cards, thinks there is more to come.

“Credit cards will begin to store additional sensitive information,” Richards said. “It’s possible cards may hold other sensitive data in addition to our finances.”

It’s really too early to tell where this technology could go – but there are many possibilities. “One could imagine, for example, that the holder of a futuristic biometric credit card might be able to get a discount on a gym membership when paying with a card that stored medical history and showed their doctor had prescribed more physical exercise,” Richards said.

One thing is certain – credit cards are here to stay, and will continue to develop in new and exciting ways. What do you see credit cards being used for in the future?

BASYS Processing as a business partner 

Does your current processor understand the unique struggles of your industry? Do they provide great rates and personal customer service? Are they offering solutions to grow your business and being proactive about helping you reduce risk and increase your savings? 

Contact BASYS today to learn more about innovative payment solutions that will save you time and money. We make accepting debit cards and credit cards convenient, safe and affordable. 

BASYS Processing features: 

• A friendly, live voice will answer the phone when you call; no automated phone systems 
• In-house PCI Compliance team to walk you through the process step-by-step, improving security and reducing costs
• Accept payments in person, over the phone or online
• Next-day funding options 

About BASYS Processing 

BASYS Processing provides credit card and debit card processing services, plus solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need.  Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personal Payment Processing. 

Learn more at, and connect with us online at: