Digital commerce is constantly innovating and digitization is accelerating several sectors, which is no different for payments: in recent times, Pix digital wallets and the possibility of a journey have emerged. In 2023, these trends should gain even more strength, in addition to other new developments that also promise to revolutionize the sector. Check out the four main trends of 2023 below.
1. E-wallets and payments via QR Code
E-wallets, or digital wallets, are applications installed on smartphones, such as Apple Pay and Google Pay, customers can make payments using their cell phones and this method has become popular, mainly due to its practicality.
According to PYMNTS (Mastering Multichannel Commerce Playbook March 2021), by 2023, more than four billion consumers will pay with e-wallets globally. The statistic is highlighted in physical stores: 1.6 billion customers must use digital wallets for in-person purchases, which would correspond to 30% of payments in physical establishments.
2. Growth of Pix in retail
“What’s your Pix?” This is a question that has become quite common in Brazil. Launched in 2020, free and instant transfer won over the population and is already the second most used method in e-commerce, second only to credit cards.
According to the, in July this year, 78% of the stores analyzed by the survey offered the option to – a jump compared to the 16.9% found at the beginning of 2021.
The consultancy also estimates that acceptance of instant transfer has the potential to reach 92% of stores. Furthermore, there are new types of Pix that are being developed by the: Pix Guaranteed and Pix Recurrent. With no set date for launch yet, and it can be used in installment payments and digital subscriptions, respectively.
3. Tokenization for improved experience
Tokenization is an algorithmically generated code that replaces sensitive consumer information that is stored in a database.
In practice, the is to replace the credit card or other means of payment with an encrypted key. This means that information such as name or card number cannot be accessed in the event of a failure. But why start working with tokens?
Firstly, tokens make it easier to make recurring payments. If you have ever lost or had an expired credit card. You must have suffered from the bureaucracy of needing to replace it in all the online stores where it was registered, reducing errors and lost transactions.
Secondly, all obstacles are replaced by an agile and secure system that allows recurring and simplified payments to be made. As the data is already stored encrypted and securely in the company’s database. Consumers can carry out transactions with just one click. Increasing the conversion of their operation.
4. Merging online and offline shopping experiences
The separation between the physical store and e-commerce is becoming a thing of the past: the trend is for retailers to offer customers a digital experience. With no barriers between digital and physical.
Unified commerce allows you to eliminate queues at the checkout – because. With unified payments, the store can have mobile payment terminals – and the adoption of Infinite Shelves, such as. With unified stocks, the customer can purchase a product. Even if it is out of stock in the physical store – simply buy it and receive it at home.
