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Interesting eCommerce Payment Trends

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Your e-commerce website can be a powerful magnet for more and more customers. For this, it should always be a few steps ahead. You need to carefully examine it for common e-commerce site problems, as well as be aware of trends in graphic design, cybersecurity, and more. Among the things that are particularly important for online stores are convenient and modern ways of paying. So today, we will review some interesting eCommerce payment trends.

eCommerce Payment Trends

  • The rise of mobile payments

Here is a trend that is impossible to ignore: over 60 percent of customers have made mobile purchases during the last six months. And payments from smartphones are on track to overtake desktop payments in the coming years. Mobile apps for payments will provide a great user experiences and features like one-click payments and the use of biometrics will be widespread.

  • Biometrics in payments

Customers will appreciate convenient technologies like face, fingerprint, or hand-movement recognition, and more. They allow payments without a password, and are ready for mass use due to technology advances. Biometrics are not only convenient, they also add more security to payments.

  • Voice-activated payments

When it comes to biometrics, special attention needs to be paid to voice. Fairy-tales have long since become the new reality  — “Open Sesame” has arrived in the real world, as those who have talked to Amazon Alexa, Google Home, or Siri, know. The trend is expected to vastly expand to product ordering and payments.

  • Artificial intelligence

Speaking of voice technologies, we cannot help but mention the artificial intelligence trend as a whole. With minimum human interaction, artificial intelligence services will guide the buying processes from advising to pay, and be highly reliable at that. Robo-advisers and AI chatbots are more and more frequently encountered online.

  • Possibility to pay with cryptocurrency

Cryptocurrencies are on the rise in popularity, and are expected to grow further. You have a chance to embrace an additional audience that is willing to use crypto for payments. There is no need to deal directly with cryptocurrencies — you can immediately convert them into more traditional ones.

  • Shopping on social media

Social media is a natural environment for your customers. So you can let them stay there, without being redirected them to your store. The “buy” button installed right on your Facebook, Instagram, or Pinterest page is a convenient payment idea.

  • Omnichannel platforms

Nowadays, e-commerce companies use multiple retail formats. The winning solution is to have an omnichannel payment processing system. This gives your customers consistent shopping experiences regardless of their preferred channel. Omnichannel is a way to gain customer loyalty and provide handy payments.

  • More attention to security

The creators of wireless payment technologies know that many people still need to overcome a certain barrier of distrust towards them. So providing the highest security level will be important. They will use tokenization, EMV protection, PCI compliance, and much more to provide this security.

To recap

If you are interested in using these eCommerce payment trends on your e-commerce website, you are welcome to contact our web development company. E-commerce and third-party integration solutions are our areas of expertise. Bring the latest trends to your online store!