Hello, everyone! This is the Octo Strategy team. All this week we have been scouring the world of FinTech and today we are going to tell you about the brightest trends in the world of Finance.
After the pandemic сonsumers have returned to in-person shopping, but they aren't ready to give up the convenience of digital payments.
Instead of returning to previous ways of paying, consumers are sticking with behaviors they picked up during the pandemic. They’re opting for digital payments over traditional cash and credit card options and it's a trend you can expect to see continue.
The annual report for 2022 of the Global Payments Innovation Jury actually ranked the jury members’ nominations for “most overhyped payments innovation,” which was as follows:
- Buy now, pay later: 34%
- Cryptocurrency: 31%
- Central bank digital currencies: 10%
- Blockchain: 5%
- All other trends: 20%
Yet not everything is “vaporware.” In addition, the twin scourges of inflation and recession may reintroduce gravity to payments developments.
The online checkout process is now one of the most important parts of the sales journey, but what does that mean for businesses? And, what trends can brands expect to see over the next 12 months? Let's take a look at 8 payment trends to watch out for in 2023.