With the beginning of a new year, it is normal for people to wait for the most diverse news. With the payment market, this is no different.
The large number of new forms of payment have completely changed the way the market works and these movements tend to expand more and more. It is increasingly evident that we are in a new phase of the payments market.
The arrival of companies that bet on technology in Brazil brought changes in the way of thinking about the payments market and how to serve customers. Without a doubt, we have a more mature business ecosystem today.
We are moving towards a more diverse and competitive payments market, which allows traditional companies to leave the usual and invest in new segments.
In today’s article, learn what to expect from the payments market in 2023 and understand what each feature has to offer. Have a good read and enjoy all the content we have prepared.
Trends for the payments market in 2023
Perhaps the biggest trend in the payment market in 2023 will be greater Pix membership, as we are already experiencing.
Pix has gained a lot of strength in practically the entire payment market and there are several stores that accept it and, little by little, it has been winning competition with cards.
It’s raining in the wet to talk about Pix, but he is a sign that the future of the payment market involves alternative and instant modes, let’s say. Practicality is the soul of the business and Pix too.
Pix’s success was due to its simplicity, instantaneousness and accessibility, in addition to the absence of fees. This payment method is the future and also an excellent present, since it can still receive more updates.
Among the new forms of monetary transfers, Pix stands out in front of the others and this scope could be seen more clearly in Brazil throughout the year 2022.
The Central Bank of Brazil announced the creation of Real Digital, which will probably be developed throughout 2023 and promises to leave the domestic payments market engaged and heated.
The world of online shopping and sales calls for speed and the growth of companies is greater when innovations in the payment market transform the relationship between brand and consumer, which has been increasingly digital and intense.
Many companies are still discovering the best way to grow along with the payments market, keeping their finances balanced and understanding what are the most viable solutions for customers.
Innovations can range from something simple to great digital creations. Usually, optimizing a process in the payments market is already a big change, meeting the needs of the company.
It is noticeable that each country has its particularities and the payment market works the same way. Below are other positive trends for the payments market in 2023.
The use of cryptocurrencies as a means of payment has become popular and is already configured as a new form for the near future. It can be said that the payments market has more than its eye on cryptocurrencies.
The great advantage of cryptocurrencies is market diversity, not least because it is not limited to investments and is capable of valuing a currency, matching it through cryptos.
Cryptocurrency can become a new savings account, as it has an interesting remittance capacity, making countless people better aware of their finances and the financial market.
Also read this article: Open Finance: What it is and how it works
Buy now, pay later (buy now, pay later)
As the translation itself explains, the habit of paying after making a purchase could expand in the Brazilian payments market in 2023.
It is clear that the custom of making installments already exists here in Brazil, but many countries are only now adhering to this payment method.
However, the novelty of “buy now, pay later” is not in the credit card or installment plan. In this case, the habit must be established with the possibility of paying in installments for digital purchases, similar to financing.
For example: the consumer pays for his items through a loan, which can be intermediated by fintechs, linking the virtual store and customers.
This midfield process carried out by fintechs is carried out by an Artificial Intelligence, which collects the necessary data from the consumer, such as CPF, full name and email, approving or not the loan.
At the end of this process, the customer will only need to choose how many installments he will use in his purchase.
E-wallets e QR Code
E-wallets (digital wallets) and QR Code payments are here to stay in the payments market in 2023, as they are widely used today for their practicality.
As there is a significant use of wallet applications such as Apple Pay and Google Pay, the cell phone becomes a powerful tool for making payments on a daily basis.
In 2023, e-wallets and the QR Code should gain even more strength in the payments market, not least because the two are synonymous with payments with agility, speed and security.
2023 will be a year of change for the payments market
The payments market is going through a moment of transformation. So many new services have never been generated for consumers to pay their bills and the internet has driven these changes.
Changes in the payments market generate great expectations, because the base of traditional banks has already been created and rooted for a long time, but the innovations in payment methods can make their foundations even stronger.
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