נקודות מפתח
- Trends like generative AI, embedded finance, and interoperability are improving the function and efficiency of payment services
- Neobanks and alternative payments offer even more advantages
- Choosing the right payment service can help you reap the benefits
2025 and beyond are expected to be game-changing years as payment trends that began in the first half of the decade continue to develop.
א new report from LexisNexis lists five major trends to watch for in the coming year. Here’s how they could impact your business and its access to payment services — and how you can make the most of the changing landscape.
1. Generative AI
Generative AI will continue to grow in popularity in the coming years.
You’re probably familiar with mainstream AI apps like ChatGPT, but the payments sector is also using generative AI to deliver enhanced features.
This includes functions like automated invoicing, payment processing, and fraud detection. And even if you don’t use AI-powered features directly, you might see lower costs and faster payments as overall efficiency improves.
How much growth can you expect? A several-fold increase. Precedence Research projects the generative AI financial services market will reach $13.3 billion in 2033, up from $1.2 billion in 2023.
2. Embedded Finance
Embedded finance is another trend that’s continually advancing.
The term refers to the seamless integration of financial services into everyday applications. This approach allows apps that are usually non-financial to provide access to payments, loans, investment, payroll management, and more
Juniper Research data indicates that embedded finance could handle $2.5 trillion in global transaction value by 2028 — up from $1.1 trillion in 2024.
As financial services increasingly engage with this area, businesses and consumers can expect to gain easier access to embedded finance.
3. Interoperability
Interoperability allows for connections between financial technologies, including by supporting systems like בנקאות פתוחה and embedded finance.
Because interoperability allows for tightly connected applications, it provides a seamless customer experience across the platforms involved.
Plus, interoperability can help promote faster and cheaper payments thanks to improved efficiency and competition throughout the payment sector.
Industry demand is high. 71% of respondents believe that interoperability is very important for faster payments, according to a recent survey from Glenbrook. An additional 21% believe it is somewhat important, adding strength to the finding.
4. Alternative Payments
The public has more access to payment options than ever before — including digital wallets, buy now pay later (BNPL), and peer-to-peer (P2P) payments.
These and other services fall into the category of “alternative payments,” and they’re collectively driving users toward digital payments and away from cash.
Assorted data suggests that digital wallets will make up 61% of global transaction value in 2027, up from 49% in 2021.
Meanwhile, cash is declining: it will make up 11% of global transaction value in 2027, down from 20% six years earlier.
Alternative payment systems will allow businesses to accept a wider variety of payments and reach new markets. The trend is just as beneficial to customers, who will gain more control over how and where they spend their money.
5. Neobanks & EMIs
Neobanks, or online-only banking services, are breaking boundaries by allowing anyone in the world to obtain a financial account. EMIs (which do not offer credit like banks but rather facilitate online payments in multiple currencies and across borders) are seeing enormous growth.
These services often offer superior speed, fees, and customer experience compared to traditional options. EMIs in particular are leveraging new financial technologies like open banking and AI to transform the payment services industry. Customers can benefit directly by opting for these new services — or indirectly as older services add competing features.
Neobank dominance is set to grow, according to Grand View Research. It expects the market to see explosive growth, rising from $96 billion in 2023 to more than $2 trillion by 2030. That represents a 20x increase.
Payset, an EMI Keeping Pace With These Trends
Payset operates as a UK-based electronic money institution (EMI), offering online-first payment services and IBAN accounts to users around the world.
Take advantage of our services: send and receive money in over 180 countries, hold 34 currencies, and exchange 38 currency pairs in our built in FX exchange.
Plus, get competitive fees, fast transactions, top-tier customer support, and more.
