In this blog post, we explore the emerging trends that are set to shape the payments industry in 2023.
In the world of payments, gaining a competitive advantage can help position yourself well ahead of the curve. As we head into the new year, many companies, banks, fintechs and more will be looking at how they can optimise their payments. Let’s explore some
of the top payment trends expected in 2023.
Buy Now Pay Later (BNPL)
Buy Now Pay Later (BNPL) services continue to show significant growth, specifically over the past two years. This was largely due to the uncertainty
around the COVID-19 Pandemic. Even though it appears the worst is now behind us, many industry experts predict that the number of businesses that allow customers to make payments for products in instalments will continue to rise.
According to data, 65% of merchants added BNPL as a payment method in 2022. BNPL services are also predicted to comprise approximately 24%
of e-commerce transactions by 2026.
QR Code Payments
QR code payments also experienced incredible growth as a result of…