199 Fintech companies are constantly innovating to change the landscape of financial services. However, with the advent of new technologies, traditional financial services must adapt quickly to provide a streamlined payment checkout experience to the customers. The ongoing demand for new ways to deliver financial services requires a fintech company to rethink its payment platform. The Covid-19 pandemic revolutionised the way people buy, work, and live. It has significantly impacted the fintech services alike that need a competitive advantage to stay ahead. Here, we will see the top five fintech payment trends in 2022 to watch out for. Table of Contents 1. Cashless Payments Lead the Way2. Digital Wallets Become Common Models3. Contactless Credit Cards with Tap-to-Pay Option4. Buy-Now-Pay-Later Option is Getting Popular5. AI and ML for Enhanced Security 1. Cashless Payments Lead the Way Standard modes of cashless payments include debit cards, credit cards, mobile wallets, bank transfers, and ACH transfers. Since cashless payments are expected to increase tremendously over the coming years, businesses must evolve practices and stay prepared. More customers demand varied payment options to carry out digital transactions. So, merchants must use them as a driving force to evolve their payment processing. 2. Digital Wallets Become Common Models Digital wallets are convenient, secure, and contactless payment platforms. Their use has become more popular for in-person transactions, thanks to e-Commerce transactions and NFC (near-field communication) technology. Users can save their payment details with end-to-end encrypted wallets and ensure transaction security. Consumers can now leave their residence without carrying an analogue wallet with a digital wallet on their smartphones. Providing multiple modes of payment is essential for any business, and digital wallets continue growing as a fintech payment trend. 3. Contactless Credit Cards with Tap-to-Pay Option Contactless credit cards are showing rapid popularity among online payment platforms. More merchants are offering these as a safe payment solution to customers. Contactless cards process transactions much faster than scanning the chips. The touchless mechanism also saves the card from unnecessary wear and tear. Besides these, contactless credit cards are safer than swiping the card physically. Although they have not become a norm yet, many card issuers have started sending them out by default and replacing old cards with this upgrade. 4. Buy-Now-Pay-Later Option is Getting Popular BNPL option allows customers to purchase a product at the payment checkout and pay its price in instalments. The terms may vary from one fintech company to the other. Some purchases may also include interest. It is an excellent way to attract more customers, even those who do not have the funds to pay for the purchase up front. 5. AI and ML for Enhanced Security Given the variety and amount of frauds in digital transactions, businesses have started relying on AI and ML to improve their security systems. These technologies monitor fraud transactions in real-time and decline them if appropriate. Using real-time analytics to watch out for fraud, retailers gain valuable insights to optimise their operations and stay safe against money laundering.In the current era of convenience and speed, innovations in online payment platforms are foundational to business success. Adopting integrated payment platforms provides a secure way to enhance customer service and serve them better. Keeping up with the above trends attracts more clients and turns them into loyal customers, strengthening the merchant business. online payment platformspayment checkout 0 comment 0 FacebookTwitterPinterestEmail admin MarketGuest is an online webpage that provides business news, tech, telecom, digital marketing, auto news, and website reviews around World. previous post How To Resolve The Bcm20702a0 Driver Windows 10? next post Ten Amazing Benefits of Having Shilajit Related Posts Top 10 Reasons to Invest in Lentor Central... December 14, 2024 Questions to Ask Before Buying a Truck for... December 12, 2024 The History of Rug Making: A Journey Through... December 11, 2024 Understanding Workplace Discrimination Laws December 11, 2024 Why Is It Important To Write A Will... December 10, 2024 The Role of the Best Accountants in Scaling... December 10, 2024 Experience Urban Elegance at Bloomsbury Residences Condo December 10, 2024 Managing Stress and Burnout While Writing a Dissertation December 10, 2024 Physiology Assignment Help: Your Comprehensive Guide to Success December 10, 2024 Benefits of Creating an Ivory Researcher Profile on... December 10, 2024 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment.