The merchant payment industry has
been diversifying in payment options at an increasing rate over the past few
years, especially with contactless payment and alternate payment methods. Let's
take a look at the trends that have the potential to boost eCommerce growth in
2022.
Trend #1: Mobile Payments
Mobile payments are the default
payment method used by people under 30 to purchase and pay for everyday items.
The traditional methods such as cash money, paper checks, and even plastic
payment cards will be alien to future generations. This boom in the usage of
mobile payments is due to its simplicity and convenience, as it can be used to
pay for anything from groceries to electric bills.
People no longer have the need to
carry around their wallets, and delivery guys no longer have to carry a card
swiper with them. All this makes the lives of people much easier and simpler. Payment
Asia offers one-stop mobile payment solutions that are secure and reliable.
Trend #2: Single-Click Payments
Single click payment methods make
any online shopping or payment much easier as your credit and shipping data
will be held online once payment is made on a website, allowing you to choose
an item and pay for it immediately. You more going through checkout carts and
lengthy payment forms, just one click, and payment done! Data will be filled in
automatically for future payments made by the merchant. This payment system
that encrypts the card data of the customer is called tokenization. The token
is now the customer’s identification for any purchases made in the future. Payment Asia reviews testify that they offer single-click payments that are not
only convenient but also safe and secure.
Trend #5: Cryptocurrencies
Cryptocurrency is a viable payment
method that offers many advantages over traditional payment methods. Crypto
relies on a “Push” payment method, which means that once the funds are
transferred to your account, they cannot be charged back. This is a major
advantage for businesses can lose their MID by merely accruing a slight raise
in chargebacks.
Cryptocurrencies such as Bitcoin are
powerful financial instruments as they can transfer large amounts without any
changes and are decentralized. This allows merchants and customers to transfer
wealth without needing banks. Payment Asia offers a cryptocurrency
gateway that is designed to bridge the gap between digital and fiat currencies.
Digital payments are growing at an
exponential rate. Ensure you choose a payment provider that ensures you take
full advantage of every possible payment method to gain the most out of every
sale. Payment Asia reviews speak of the range of digital payment trends
that are built to grasp business opportunities with every cashless transaction.
