It’s not a surprise that digital transformation has changed everything under the sun, and digital payments are no exception. The payment gateway industry is constantly evolving to meet the needs of businesses and consumers. Just as technology is always changing and evolving, so too is the world of online payments. What was popular and in-demand last year may be totally different this year, which is why it’s important for businesses to stay on top of the latest trends.
Here are five payment gateway trends that businesses should know about in 2022:
1. More businesses will adopt mobile payments.
More businesses are offering mobile payment options, and consumers are becoming more comfortable using their smartphones and tablets to make purchases. As more and more consumers use their smartphones for everything from shopping to banking, it’s no surprise that mobile payments are on the rise. This trend is only going to continue in 2022, as more businesses adopt mobile payment solutions to make it easier for their customers to pay.
2. Cryptocurrency will become more mainstream.
While cryptocurrency is still largely considered to be a niche market, it is slowly but surely becoming more mainstream. In 2022, we expect to see more businesses start accepting cryptocurrency as a form of payment, as the technology becomes more mainstream. These methods offer a convenient and secure way to make payments, and more businesses are beginning to accept them.
3. Payment security will continue to be a top concern.
As data breaches become more and more common, payment security will continue to be a top concern for businesses in 2022. Businesses will need to ensure that their payment solutions are as secure as possible to protect both their customers and their reputation. This includes things like two-factor authentication and data encryption.
4. Greater use of cloud-based solutions.
Cloud-based payment solutions are becoming more popular as they offer a number of advantages, such as flexibility and scalability.
5. New players enter the market.
There are always new players entering the payment gateway market, and 2022 will be no different. This brings with it new innovations and technologies that businesses can take advantage of.
6. AI-based payment solutions will become more popular.
Artificial intelligence (AI) is beginning to make its way into the world of online payments, and we expect this trend to continue in 2022. AI-based payment solutions have the potential to revolutionise the way businesses process payments, so we’re keeping a close eye on this trend.
7. Contactless payments will become even more popular.
Contactless payments, such as those made with Apple Pay or Google Pay, are already quite popular, but we expect this trend to continue to grow in 2022. The pandemic has made contactless payments even more appealing to consumers, so we expect to see even more businesses adopt this payment method.
The future of payment gateway is looking bright with new trends emerging every year. By keeping these trends in mind, businesses can ensure that they are offering their customers the most convenient and up-to-date payment methods. This, in turn, can help to boost sales and customer satisfaction.
If you’re looking for the best Indian payment aggregator, then OnionPay is your best choice. OnionPay is the leading payment gateway aggregator in India that provides businesses with the ability to accept payments in a hassle-free manner.