Current situation

International payment trends

What are the main international "payment" trends and what new financial products are emerging that could have an impact on our country's electronic payment ecosystem and the way we manage our everyday finances? Let's look at current payment trends in the world!

  • Digital transformation in payments: the coronavirus epidemic has led to an increase in the use of previously introduced electronic payment solutions, with a large proportion of users moving away from physical contact payment methods. Traditional payment methods are increasingly being replaced by alternative and innovative payment solutions.
  • The emergence of "super-apps": super-apps (e.g. PayPal, Revolut, CashApp) are able to manage all digital activities in one interface.

According to research, payment, banking, travel, communication, daily life, grocery shopping, other shopping, work, entertainment and health are the functions that users want to access within a super-app.

  • The proliferation of "digital wallet" solutions: a move away from cash, where we can carry our bank cards and driving licences in the form of digital copies on our smartphones instead of our traditional wallets.
  • The emergence of 'ecosystem payments': platform companies and ecosystem owners are redefining the customer experience: their aim is to enable ecosystem suppliers to expand their services and customers to spend as much time as possible on the platform.
  • The spread of "Artificial Intelligence": the use of machine learning and artificial intelligence in payment applications is increasing and the scope of services based on data analytics is also growing.
  • Creating a globally consistent payment experience: global payment service providers want to develop and operate applications that provide the same experience and range of services in a cost-effective and efficient way, regardless of the currency, in accordance with the culture of each country and local regulations.
  • Presence of peer-to-peer solutions: P2P payment solutions in the fintech sector are becoming increasingly dominant (e.g. Venmo, Zelle), with PayPal, Apple or Square offering one-stop-shopping and a wider range of payment functionality.
  • Payment by credit card and cash by habit: while mobile wallets (e.g. Apple Pay, Google Pay) and new alternative payment solutions are continuing to grow in popularity, users still prefer credit cards and cash.
  • Buy Now, Pay Later (BNPL) and in-app payment options: according to Insider Intelligence, one in three US shoppers will use a version of Buy Now, Pay Later this year. More and more financial institutions are planning to offer BNPL, but what is needed to implement it is still being worked out.
  • Connected and embedded payment solutions: more and more devices are connected to the internet and are becoming capable of handling various payment transactions (e.g. internet-connected cars).
  • Real-time payments: new payment needs are expected to emerge due to the real-time and immediacy of payments.


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