The fintech sector constantly evolves, and modern businesses must stay aware of these trends. As new convenient technologies for customers and retailers continue to be a priority, retailers must remain solidly aware of the development of fintech trends.
Many new payment technologies have arisen over the past few years and quickly become necessary for businesses. So, which fintech trends are growing in popularity now? And how can Trust Payments help with the biggest fintech trends of 2025? Read on, and we’ll delve into the details.
Digital wallets accounted for around a third of online transactions in 2022, and this number is likely to increase in the future. This increase in popularity is largely due to the growing popularity of payments using mobile applications, and more specifically, the digital wallets that are so easy to download on the device for purchases in person or online.
The use of biometric authentication has massively changed how the average person interacts with technology. Phones are unlocked with facial and fingerprint scans, and these also help facilitate security for digital wallets. As the popularity of digital wallets grows, so does the necessity of their security, and this biometric data will become increasingly instrumental in protecting consumers’ payment data.
Trust Payments can help you set up a digital wallet and offer online and in-store payments through our digital payments gateway. You can request digital wallet functionality on your account, and we have a comprehensive guide to help you set it up. Find out more.
The rise of mobile payments came in the wake of the COVID-19 pandemic, contactless in-person payments became the best option for customers and businesses. Since the pandemic, contactless payments have grown into a significant sector of payments, tap-to-pay is an increasingly common way to pay in person, in fact, 1 in 3 people in the US use tap-to-pay.
With SoftPOS by Trust Payments, you can now accept contactless payments on your Android-powered smartphone or tablet using our innovative Tap to Pay app. All you need is a compatible Android device, and SoftPOS from Trust Payments will give your customers a convenient way to pay just by tapping their preferred contactless payment method! Tap to Pay requires no additional hardware or third-party logistics companies and is the ultimate low-cost option for merchants.
Buy now, pay later (or BPNL) options have changed online shopping forever. The ability to spread costs over time and create a more affordable purchase plan for retailers has made online shopping easier for the average consumer. The financial flexibility BNPL offers can significantly boost the number of purchases that businesses see, as it increases the number of potential customers and, in turn, the size of the customer base.
The payment method also has a particular market in younger people; recent studies indicate that Gen Z makes up over half of the purchases made with BNPL, suggesting that the market for this payment method will only increase as time goes on. You can go to Trust Payments for the latest in payment solutions, including BPNL for the latest support as regulations for the method continue to change.
The travel industry is massive, with various aspects that facilitate bookings and immediate purchases both in-person and online. However, online bookings have become increasingly common in travel, encouraging convenience and simplicity in a traveller’s journey. Seamless and flexible bookings are increasingly the traveller’s priority.
We help travel operators reduce costs, be more efficient, and have higher approval rates with merchant services for travel agencies. Our full end-to-end travel industry payment solutions ensure the secure, speedy collection of guest payments such as booking fees, flight tickets, and accommodation deposits.
But how are travel businesses changing with the traveller’s trends? Many have begun to roll out travel memberships or subscriptions that offer exclusive deals or discounts that might incentivize customers with added convenience and value. Travel subscriptions vary in their price model, offerings, and type of travel, casting a wide net in the world of travel payments.
Trust Retail offers a single, modular platform designed to manage, deliver and track loyalty and engagement across multiple channels. With our loyalty solution, travel businesses can benefit from a 360-degree view of the customer and provide them with targeted relevant offers.
As payment methods and consumer expectations continue to evolve rapidly, companies like Trust Payments will play a crucial role in the future of payments and fintech. With our expertise in facilitating secure digital transactions across multiple payment types, Trust Payments can help businesses adapt to new payment trends while ensuring a seamless customer experience.
By partnering with an agile fintech provider like Trust Payments, businesses can future-proof their payment infrastructure and capitalize on emerging opportunities in the dynamic payments landscape when 2025 comes around.
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