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Payment Trends: Opportunities and Risks Shaping 2023
Capgemini | Nilesh Vaidya | Jan 30, 2023
Image: Capgemini
Top Trends in Payments 2023 contains Capgemini’s perspectives on the top 10 trends for the months ahead
We anticipate widespread opportunity for innovation and growth. Trends include payment providers’ customer-centricity strategies such as buy-now/pay-later and embedded finance, data-safeguarding tokenization, and sustainability protocols focused on eco-friendly payment modes. Also on the radar screen are changing industry dynamics brought on by composable architecture and payment hub modernization, among other actions.
See: Payments Canada Report: Rebound & Grow – Payment Methods and Trends in 2021
Included Trends
- BNPL momentum continues despite post-pandemic macroeconomics
- Embedded finance is leveraging customer data to find new use cases
- Global adoption of ISO 20022 opens doors to data modernization
- Central banks gearing up to pilot and implement CBDCs
- Composable architecture leads to competitive efficiencies
- Real time cross border payments will improve speed and volume of regional trade
- End-to-end ecosystems are simplifying payment moderatization
- Paytech innovation and partnerships seeking to revamp SMB payments
- Tokenization for scalable and secure payment infrastructure
- Eco-friendly cards, digital payments, and cloud-based payment hubs will boost sustainability
Image: Capgemini
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