How Electronic Signature Is Changing Electronic Payments

The recently become effective GDPR (General Data Protection Regulation), has marked a significant upgrade for what concerns electronic data safety, especially when these data are the subjects of transfers from a private or public company to another subject (both other companies or single individuals).

This is due to the new rules included into the GDPR’s text, that define more stringent requirements and duties for every subject who comes into possession of third parts’ electronic data.

One of the most important changes introduced by the GDPR is represented by an abruptly enhanced level of customers’ trust towards tools like electronic signature.

For the most part of banking account holders, safety in financial transactions means giving up a lot of cash payments and replacing them with online payments, guaranteed by the new data collection and storage policies imposed by GDPR.

This is the great intuition at the basis of companies like Yousign.com (one of the most important European Internet companies, with dramatically growing numbers throughout the last years, for what concerns revenues and turnover), that released tools like an electronic signature app and similar ones, in order to give the market exactly what it’s looking for in this specific era.

According to a European Central Bank’s research, the number of non-cash payments in 2018 increased of 7.9% compared to the previous twelve months. It is estimated that cash will play a less and less significant role in retail transactions, to the point that it will disappear completely on the wholesale market.

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For what concerns all those deals that imply a billing, the e-invoicing systems have already incorporated internally electronic signature and electronic payment systems.

The only caution on the customer’s part is about choosing the right software, produced and certified within the EU territory, in order to be sure that every disposition included in GDPR could be fulfilled in the most efficient way and with complete safety.