Fintech and Payment Industry Trends 2023

Staying on top of fintech trends lets your business offer customers' preferred payment methods. Explore the 8 hottest payment industry innovations of 2023.

Popular forms of payment have changed dramatically over the past several years with the growing popularity of tech like digital wallet apps, QR code payments, and contactless cards. As innovation continues, companies can draw new markets and stand out from competitors by offering some of the latest and greatest payment methods.

It can be challenging to keep up with fintech’s near-constant growth while running your business, so we’ve developed this guide to the biggest payment industry trends in 2023. You’ll be ready to revolutionize your company’s payment platform with a focus on the future when you become familiar with these eight hot growth areas.


8 Fintech and Payment Trends to Watch Out For in 2023

Digital payments will command even more of a market share in 2023, as tried-and-true options like mobile wallets become more popular across demographics. Within the digital payment space, you can expect these huge trends to show up in your industry if they haven’t already. Get ahead of the curve by familiarizing yourself with these 8 fintech growth areas.

1. Greater Adoption of Cryptocurrency

Use of cryptocurrency will continue to increase in 2023 as even more payment companies add these options at checkout. For example, PayPal users can select Bitcoin or another form of cryptocurrency at the point of sale. Visa has partnered with approximately 65 cryptocurrency companies to begin supporting these alternative forms of payment. 

Customers and merchants benefit from the limited fees, security, and convenience of cryptocurrency transactions. 

The coming year will likely bring increased national and international regulation as many nations adopt new rules for Bitcoin and other alternative payments. AMC Theaters, Microsoft, and AT&T are just a few of the businesses that already take Bitcoin for online orders.

2. Expansion of Web 3.0 Payment Tech

Businesses increasingly use Web 3.0 to develop customized user experiences, including intelligent checkout processes. For example, this type of platform can provide data-driven recommendations based on how customers have paid in the past and methods they prefer. 

Natural language processing tech allows users to make payments on their devices through voice commands. Artificial intelligence (AI) creates personalized recommendations and offers based on past customer behavior.

Web 3.0 can also enhance payment security. Components such as blockchain support decentralized payment networks, a transparent alternative to existing payment methods. 

3. More Cross-Border Payments

As globalization continues to grow, your business needs to be able to accommodate buyers in other countries. Although cross-border payments traditionally take much longer than domestic transactions, that’s set to change rapidly over the next few years. New tech supports faster global payments, often providing approval and funds transfer in less than 10 seconds. offers global payment processing so you can accept payments from customers all over the world. Our platform addresses factors that lead to delays or declines with international payments so your users have a seamless experience.

4. Rise in Embedded Fintech

Financial institutions will increasingly integrate fintech services into their online offerings. More banks will offer add-ons like bill negotiation, subscription management, and protection from data breaches, fraud, and identity theft, creating so-called “super-apps” where customers can manage their money and identity. 

Many financial companies will partner with tech providers to develop and administer these embedded services. As a result of these collaborations, the embedded fintech market is projected to increase in annual value by more than 40%.

Click here to read about’s embedded payments solutions.

5. Enhanced API Capabilities

It will be easier than ever to upgrade your company’s site with fintech innovations through the sector’s thriving API ecosystem. Application programming interfaces let your business customize a targeted user experience that speaks to your market’s needs and preferences.

 Emerging API capabilities include support for global payments with both international and local methods, integrated order tracking, recurring payments that vary in size, and instant refunds. provides developer-friendly APIs. Your team can integrate our payment infrastructure so it fits seamlessly with your existing online platform. Creating a consistent user experience from browsing to buying encourages sales and builds strong customer connections.

6. Widespread Availability of Real-Time Payments

The Federal Reserve will launch its FedNow system in 2023, dramatically increasing the availability of real-time payments (RTPs) in the US. Customers can make and receive instant payments through domestic banks 24 hours a day, 365 days a year. FedNow will support RTPs of up to $500,000.

In general, instant payments cost less than wire transfers but more than ACH payments. Outside the US, 54 countries have already adopted similar systems, so the country is finally catching up in the RTP space.

7. Growth in Buy Now Pay Later Platforms

More customers than ever before will use Buy Now, Pay Later (BNPL) in 2023. Statista reports that this sector will be worth more than $576 billion by the end of the year. As BNPL services grow in popularity, many providers will expand to offer even more financial options.

Buyers who want to take advantage of interest-free installment payments will find lots of new opportunities. Many financial institutions have announced their own upcoming BNPL plans. BNPL will also move beyond the ecommerce space as businesses introduce this option at physical locations.

8. Advanced Identity Authentication

The popularity of contactless and mobile payments requires increased attention to digital identity authentication. Fintech companies are developing new methods of authentication for both consumers and businesses, including designated digital ID cards. 

You’ll eventually be able to verify customer identity with unique, secure electronic tokens. These digital IDs can potentially be used across multiple services. They’ll likely have the backing of national regulators, which means your company can trust digital IDs as a secure way to pay. already protects transactions with 3D Secure 2.0 multi-factor authentication. This system flags potentially fraudulent purchases and asks the customer for another form of identity verification. For example, 3DS2 may request verification through a unique code or link for transactions of an unusual amount or from an unexpected location.

The Best Way to Accept Online Payments in 2023 is the best way to accept online payments in 2023 and beyond. We support multiple payment methods including credit and debit cards, digital wallets, ACH transfers, and many more. We can also help you keep up with some of the year’s biggest fintech trends so your company can continue to meet ever-evolving consumer expectations.

Through our full-service solutions, your business can:

  • Accept global payments without unwanted delays and declines
  • Customize your checkout experience with powerful API integrations
  • Comply with Level 1 of PCI DSS so you don't have to meet these standards on your own
  • Authenticate potentially suspicious transactions and avoid payment fraud with 3D Secure 2.0

It’s all available for one flat fee per transaction. uses transparent, easy-to-understand pricing, so it’s affordable to upgrade to our flexible payment platform.

Click here to create your account now!

The Bottom Line 

As fintech grows and changes more quickly than ever before, it’s easy to feel like your business could be left behind. Getting up to speed with these 8 big payment industry trends will put you ahead of the curve. can partner with your business to create a convenient, seamless checkout experience for your users. We frequently add new payment methods and features so you’ll be able to keep up with even the most tech-savvy competitors and accept credit cards, debit cards, ewallets, and many other digital payment methods.

Click here to get started with now!


What's the best way for an ecommerce business to receive payments? is the best way for your ecommerce business to accept multiple payment methods, including trending options like digital wallets. In addition, we have level 1 PCI DSS compliance, supporting the need for robust security measures to protect you and your customers. Multi-factor authentication with the 3DS2 Secure system prevents fraudulent transactions.

Click here to get started now!

What is the future of fintech?

The future of fintech will optimize the user experience with advances in a few key areas. The most influential innovations include artificial intelligence for personalized products and services, enhanced security through blockchain and other decentralized tech, and wider availability of powerful no-code solutions for customized payment platforms.

What is the biggest challenge of fintech?

Data security will remain one of the biggest challenges for fintech in 2023. As cybercrimes become more sophisticated, ecommerce businesses must implement strong security measures to prevent identity theft and other forms of fraud. Ecommerce breaches can damage the reputation of your business and cost tens of thousands of dollars in fees and chargebacks, so it’s critical to protect against data security threats.

What is the future of digital payments?

The future of digital payments will focus on enhanced user convenience, experience and security. Some of the most exciting innovations include one-click mobile app payments and more flexible forms of installment payments. Bank transfer payments including ACH transfers will become faster, which will likely increase their popularity.

What are the latest payment methods?

Some of the newest ways to pay in 2023 include tap-and-go credit card technology and digital check payments for rapid electronic bank transfers. Crypto payments at point-of-sale and cross-border payments have also become more common and will continue to increase in popularity as regulators introduce new guidelines in these areas.

Meet the author
Andrea Miller
Andrea Miller has been a writer and editor for more than two decades. Specializing in business and finance, she has written for some of the major websites in the financial sector. Outside of work, she spends most of her time with her family and enjoys hiking, yoga, and reading.
Upgrade Your Payment System in 2023 lets you accept some of the latest ways to pay. Our payment infrastructure supports digital wallets, mobile app payments, and many more payment methods. We’re also on top of the latest security measures to keep sensitive data safe throughout the payment process.

Get started now

Ready to boost revenue for your business

Contact sales