The included and invisible payments have become more everywhere, with more use this year.
Juniper Research expects that the global compact payments market will grow 134 % between the end of 2024 and 2028, driven by account payments and guaranteed wallets. This expected growth is emphasized by KPMG
“It is a very exciting area,” Brian Sheniderman, the main managing director of payments in North America.
Here are what professionals in payments expect to see in the field of integrated financing and invisible payments this year:
The growth of artificial intelligence will fuel the guaranteed payments
When artificial intelligence becomes independent and important in the daily life of people, artificial intelligence agents will need compact payment possibilities, as Nick Mainard, Vintech Market Chief of Research in Juniper, wrote in an e -mail. “The customer will also start artificial intelligence – through giving
Investments continue in infrastructure
Michelle Switch, Managing Director of KPMG, expects to see continuous investments by players in infrastructure to support the guaranteed payments. The American told America Banker that companies want to provide guaranteed payments, but they often feel trapped in what they can do based on the solutions provided by the bank. FINTICHS and payment services providers facilitate easy to have retailers to provide the guaranteed financing because they are the simplest work with them, and they provide additional safety and compliance solutions. “Now, the banks do not do it too,” she said.
Explore the new sectors of compact payments
Integrated financing becomes more valuable if banks are able to combine the payments systems they provide (such as cash management, treasury management) with solutions to the existing institutions resources for specific industries such as health care, oil and insurance.
For example, the American bank is invested greatly in the health care revenue course, and Alberto Casas, head of treasury products and payment services in the United States, told America Banker. He said that the bank “invests in deep integration” with health care management systems.
The American bank also participates with Fintechs like rain, and it is used by employers to provide immediate wages for employees. Fintech uses the compact payment platform for the American Bank to facilitate customer payments. “It is really a major development of how to do our business,” Casas said.
One of the areas where the joined payments can become more prevalent is the rental market. Mainard said, especially in the United States, the lease payments are very stressful. “Juniper is expected to include payment capabilities in specialized real estate platforms to grow this market increasingly and provides a better user experience.
Invisible growth growth
This year, Chris Kulson, a Atlanta payment expert, who focuses on emerging payments, expects that cases of use of invisible payments in the coming months will increase in areas such as health care, insurance and B2B. This will require banks to work closely with service providers as a service to ensure acceptance of their payment mechanisms in systems. “With the progress of applications programming, which will be much easier,” Colican Banker told Amen. “There is no longer a lot of heavy coding.”
Auto manufacturers also increase the bet when it comes to including the payment capacity within their operating systems. Kulson refers to manufacturers such as Honda, GM Motors and Mercedes, who were leaders in this field. MasterCard and Visa also allows consumers to pay the price of gas smoothly using geographical location. “Initial use will be like paying the price of fuel and products from a comfortable driver seat soon in new car models,” according to public data from Ken Moore, the chief innovation employee in MasterCard.
The ups of alternative payment bars
Banks must be keen not to leave them in the future because in the future, the guaranteed payments can be done using Stablecoins, a form of cryptocurrency backed by traditional currency reserves such as US dollars. “Not to extract a source of anxiety,” Kulson told America Banker. This is especially important with the growth of interest in Stablecoins. Fiserv recently said he would do so
The battle for survival is related
Kulson told America Banker, as the invasive and invisible payments will continue, the banks will have to continue fighting for their importance. He said it is difficult to remain relevant when customers do not pay the payment of a material card or a bank application, but providing rewards or incentives to stay on top of the wallet can help.
