The digital payment market is expected to value over $15 trillion by 2027. Acquiring banks, payment facilitators, fintechs and merchants are all in the race to meet growing demands. Today’s e-shoppers want a fast, efficient and seamless payment experience and the pressure is on merchants to provide their clients with secure and user-friendly solutions. Merchants will have to update their business strategy if they want to stay in the race.
This market study, that I wrote for global payment processor SegPay, explores 8 major payment trends:
- Social eCommerce
- Mobile e-Wallets, Contactless Tap to Phone and QR Codes
- Embedded Payments
- Buy-Now-Pay-Later (BNPL)
- Open Banking and Real-Time Payments
- Biometric Identification and Authorization
- Cardless Bank Transfers
- Regulators Scrutinize Consumer Interest and Merchant Swipe Fees
If you want to learn more about these payment trends, click here