With a focus on technology in the finance industry, transactions are in the process of evolving to the point where payments will forever change from traditional methods that have been used for decades.

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Being in the payments space for almost two years and helping build products around eCash, I've noticed how businesses need to adapt to the continuous advancements in technology. I've luckily had the opportunity to work with some of the brightest minds in the industry, and have gotten to know many of the companies revolutionizing the space.

At the forefront of these changes are numerous outlets offering disruptive processes and products. Here are ten companies forever changing how consumers and businesses make payments online:

Compliance is a major challenge faced by many online payment providers. With real-time access to hundreds of secure and reliable data sources around the world, Trulioo's identity verification solution powers fraud and compliance systems for global payment providers, such as PayPal, Stripe and Square, through a single API integration. As a result, Trulioo saves time, reduces operational costs and facilitates a more transparent online identity verification process.

Founded and owned by some of the world’s largest credit card brands, including American Express, Mastercard and Visa to name a few, this company is behind the introduction of smart debit and credit cards that contain a microprocessor chip to minimize and even stop fraud. It’s been so disruptive that the company has influenced significant changes in the payments industry with merchants now being required to switch to this system along with banks and other card issuers. Soon, the days of magnetic stripe cards will be a distant memory.

While Bitcoin is the most well-known, pioneering brand behind cryptocurrency, there are now hundreds of various types of this digital currency that are under debate for the threat — or potential threat — they bring to financial institutions. This decentralized system allows people around the world to buy and sell products while also maintaining anonymity. Besides the financial possibilities that Bitcoin and other Internet currencies offer, there are even more non-financial applications that may emerge from this disruptive payment solution.

PayStand's mission is to use modern Internet and SaaS technologies to transform B2B payments. Their flexible platform enables customers to easily embed online payments into their websites, invoices and mobile applications while maintaining full control of their customer's payment experience. Their unique technology supports cards, ACH, eCheck and eCash in a single system, which promotes choice in digital payments and greatly simplifies tracking and reporting.

Also intent on increasing access to payment methods, Stripe has helped marketplaces and businesses take their payment processing to the mobile environment, helping everything from pop-up shops to small businesses compete and market to a much wider audience.

Created as a way to pay tolls through mobile payment options, this Australian startup is now disrupting the transactions space by combining payment processing with geolocation services. Their more comprehensive tool could benefit any company that accepts payments on a location-specific basis.

With the advent of digital wallets, Stratos has emerged as a new way to organize all payment cards into one card, including any loyalty, membership and gift cards alongside all credit and debit cards. This simplifies what a person has to carry with him, reducing the risk of loss or theft. With so many cards held by the average consumer, Stratos proves that technology can really simplify lives, including making online and offline payments for all types of products and services.

Helping many people obtain and more effectively manage credit is the mission of Affirm. This payments company offers consumers a way to take charge of their credit by creating personalized payment plans. For merchants who use Affirm, this means they can reach a wider audience who previously may not have been able to buy from certain retailers due to poor credit or no credit options.

This payment processor allows developers to customize a system fit to their business while still retaining all the security and privacy that customers expect when making online payments. The customization is part of the scalable framework behind this payment processing solution, helping even the smallest business look “big” in terms of how it accepts payments.

Before Square, many small businesses struggled because they were only able to accept a few types of payment methods, especially since transaction fees for credit cards were so expensive. However, Square has proved that any business can — and should be able to — accept debit and credit card payments without the high transaction fees. They have set a precedent in the payments industry by leveling the playing field for all types of businesses.

The common thread among these payment companies is that technology is streamlining, securing and simplifying the numerous transactions that we make on a daily basis. Additionally, these paperless and mobile solutions are showing how payments can cost less per transaction and be easier for those on both sides of the equation. While these payment systems may continue to evolve, they have certainly disrupted how we all look at transactions.