Five global payment trends shaping businesses in 2022

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By: Retail in Asia

In 2021, merchants saw digital convenience and personalisation on the rise. According to payment platform Adyen, digital transformation will keep up the momentum in both familiar and new ways for brands and consumers in 2022. Here are five global payment trends that will continue to transform businesses throughout 2022.

1. Digital transformation will shape a brand-new industry class
More consumers have been embracing e-commerce / mobile and digital payments over the past year. Another wave of digital transformation will shape a brand-new industry class which is going to transform traditional buyer journeys in 2022. Adyen forecasts a bigger drive for seamless buyer journeys, enhanced online user experiences and further development of subscription-based business among areas of travelling, grocery delivery and telecommunications respectively.

2. Brick-and-mortar shopping will return in extraordinary ways
Notwithstanding the challenges facing businesses in 2022 under Omicron’s shadow,  shopping in physical stores will return, where online and offline flows will be more flexibly integrated. In this regard, companies who leverage personalisation and convenience in-store will become the winners in 2022.

Retailers who are welcoming “semi-in-store” flows are to win over indecisive shoppers and achieve a higher foot traffic. Payments data plays an important role in uncovering customer insights in order to create customer loyalty. Hence, a centralised platform gathering all payments data will be crucial for presenting a comprehensive customer view in the new year.

 

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