Online Payment Trends to Watch Out For in 2023

Prepare your payment process for 2023 with the most impactful ecommerce innovations. We explore 6 of the biggest transaction trends in this detailed guide.

As a seasoned business owner, you're used to staying on top of trends that affect your industry - and online payment has been one of the biggest trends of the past few years. 

Digital payment options have grown in popularity among merchants and consumers alike, with more than 90% of customers taking advantage of this option in 2022 according to data from McKinsey & Company. 

Innovations in this space will continue to give you new ecommerce options in 2023 and beyond. 


6 Online Payment Trends to Watch Out for in 2023

These six fast-growing trends will be everywhere you look in the 2023 ecommerce landscape. Adopting high-tech options now will help your business get ahead of the competitive curve.

1. Biometric Security Scans

Your smartphone might already use a form of digital authentication, like face recognition or fingerprint scan, instead of a password. Biometric scans will cross over to the business mainstream in 2023 as more payment services providers offer this elevated form of online security. 

Adopting next-level biometric authentication can enhance customer trust as you showcase your commitment to protecting their sensitive information. In addition to the examples mentioned above, solutions in this category include heartbeat analysis, iris recognition, and more of the most reliable ways to shield secure data.

2. Multiple Methods of Payment

Not only have customers widely adopted digital payments, they also prefer to use multiple different methods when they buy online. The percentage of customers in all age groups who have a digital wallet loaded with more than one account increased significantly from 2021 to 2022.

You can cater to the customer preference for choice at checkout by using as your payment service provider. You'll be able to accept credit cards, debit cards, digital wallets, electronic transfers, and other popular options, all backed by's industry-compliant high-tech security measures. payment methods

3. Installment Options at Checkout

About a third of customers have opted to "buy now, pay later" (BNPL) at checkout. While this trend has a slower trajectory than the fast growth of digital wallets, installment plans will likely continue to expand in popularity in 2023. The most common categories for buy now, pay later purchases include mid-range items like home appliances, electronics, and apparel.

While installment payments do usually require a credit check, applying alone won't affect the person's score. Customers can access no-interest or low-interest short-term loans that cost less than a credit card. Buy now pay later also has flexible payment terms and convenient options like autopay.

Offering BNPL also has advantages for merchants. Many surveyed shoppers said that if they weren't able to use this option, they would have made a smaller purchase or abandoned their carts completely. BNPL can potentially boost both the quantity and value of sales for your brand.

4. QR Code Payments

Although QR codes aren't the most common way to pay in the U.S., This method has a market share of nearly three-quarters in China and continues to gain global popularity. Data from Juniper Research suggests that almost a third of shoppers will regularly pay by QR code by 2025, representing more than 2 billion annual transactions.

Your brand can use QR codes to create unique user experiences, an important factor in attracting your audience and encouraging them to buy. You can add these scannable icons to all types of marketing materials, including both static images and video. It's also easy to send customers QR codes that contain promos and discounts.

5. Wearable Payment Devices

More customers prefer to make purchases from wearable devices like smartwatches. These accessories support digital wallets, so they're easy to accept with a point-of-sale system that supports contactless methods of payment. 

If your brand has a physical location, you can give your customers seamless, speedy transactions with a contactless POS. They just scan their watch for a secure purchase and go.

6. Pay by Link Invoices

Digital invoices sent by secure link saw a 600% increase from 2020 to 2021 alone according to a report in the journal Financial IT. This option, popular for business-to-business transactions, allows your clients to check out straight from their email or SMS inboxes with a single click. provides this solution with our safe, customizable Pay Links. You can connect your customers with a personalized checkout page where they'll find available payment methods and other transaction details. express checkout

The Best Way to Accept Online Payments in 2023 has the powerful payment solutions your brand needs to stand out from the competition in 2023. While it's easy to get started with our intuitive platform, we also have advanced API integrations so your developers can create new user experiences that engage and convert your audience.

Security remains one of the biggest concerns when buying online. protects your business and your customers by complying with Level 1 of the Payment Card Industry Data Security Standards (PCI DSS). This credential reflects the highest available level of compliance, incorporating advanced features like tokenization and multifactor authentication.

If you're concerned about the cost associated with switching payment providers, you'll appreciate our transparent flat-fee payment structure. Whether you simply need a way to safely send invoices or you want a payment platform customized for your brand, you'll pay one flat fee per transaction.

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The Bottom Line 

Keeping up with advancements in the ecommerce space will help your brand adapt to rapidly changing consumer preferences. Even adding just a few of these six trends to your payment system can dramatically enhance the checkout experience for your customers. provides the power of modern, high-tech payment solutions with robust features that flex to fit your company's needs. When you're ready to consider new ways for your customers to pay, it'll take just a few minutes to set up your personalized Pay Dashboard.


What's the best way to accept multiple payment methods online? is the best way for your business to accept many different online payment methods. During our fast, easy onboarding process, you'll simply select the methods you'd like to offer your customers. These options will appear on your customized checkout page and secure invoices. Every transaction complies with the highest level of industry security standards.

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What is the most popular online payment method?

Debit cards remain the most common method of online payment in the United States. More than half of consumers surveyed said they'd used a debit card to pay online in the past year (52%), compared to 47% who've used a credit card for ecommerce in the past 12 months. Digital wallets are also gaining traction among online buyers.

What is payment optimization?

Payment optimization involves streamlining and perfecting your payment process to provide your customers with the best possible experience. You remove all potential friction from the checkout process to prevent cart abandonment, encouraging customers to complete the transaction and buy from your brand again in the future.

Will cash be obsolete soon?

Some studies suggest that cash will become obsolete within the next decade. As digital payments become ever more common, Sweden, Japan, and China have all started to explore digital currency through their national banks. However, the U.S. Federal Reserve has not yet taken steps to adopt online-only options for state currency.

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.
Step Up Your Payment System in 2023 has everything you need to give your customers a cutting-edge ecommerce experience. If it's time to optimize your checkout process, update your security measures, or offer your users embedded payments, we have the flexible solutions that fit your business.

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