Voice of the Industry

Unlocking tomorrow's transactions: payment gateways in the global economy

Monday 11 September 2023 09:41 CET | Editor: Irina Ionescu | Voice of the industry

Kostiantyn Prymak from Transferty describes key payment gateway industry trends that will place businesses at the forefront of innovation and with a strong impact on the global economy.


Payment gateways are one of the key solutions, moving the growth of online businesses forward. That is why the rise of features in the payment gateway industry can deeply impact the efficiency of companies operating with digital payments. In this article we will outline the key expectations of the payment gateway industry and explain how businesses can rise by using them. First, here are some general trends:


Mobility and convenience

The rapid surge of mobile payments is reshaping the payment landscape, driven by the speed, portability, and convenience they offer. The widespread adoption of mobile wallets has democratised online payments, granting accessibility to anyone with a mobile device. The trajectory of mobile payment methods continues to ascend, particularly with the introduction of updated versions of budget smartphones into the market. It offers businesses a unique opportunity to tap into the immense potential of the mobile-savvy consumer base. By facilitating transactions through mobile wallets, businesses can connect with customers on the go, enhancing the overall customer experience.

The era of choice

The traditional dominion of credit and debit cards is being challenged by alternative payment methods such as e-wallets, cryptocurrencies, and Buy Now, Pay Later (BNPL) options. These alternatives offer heightened security, privacy, and swifter transaction times, thereby appealing to an evolving clientele. Although these alternatives are gaining traction, they are still in the process of widespread adoption, with conventional payment processors retaining a stronghold. 

By offering diverse payment options, businesses cater to a broad range of customer preferences. This inclusivity can attract a more diverse customer base and increase conversion rates. By staying attuned to evolving payment methods, businesses can also maintain relevance and appeal to various consumer segments.

Instant transactions

Real-time payment (RTP) systems have revolutionised fund transfers by enabling instantaneous exchanges between bank accounts. This expeditious mechanism benefits both consumers and businesses, facilitating efficient cashflow management. These systems, underpinned by advanced technology and infrastructure, ensure secure data transmission and immediate fund transfers, enhancing transparency, security, and cost-efficiency. RTP systems can significantly improve cashflow management. On the other hand, instant fund transfers between bank accounts enable businesses to manage their finances more effectively, enhancing liquidity and operational efficiency. This real-time accessibility can be particularly valuable for businesses with complex financial transactions or high transaction volumes.

Here are some specific trends, expected to enrich the payment gateway ecosystem:

Micropayments matters

Micropayments, characterised by their smaller transaction values and reduced risk profiles, have gained prominence as a viable solution for diverse online activities. From royalty payments and copyright transactions to small freelance gigs, crypto transactions, and advertisements, micropayments offer a seamless mechanism for these economic interactions. Various schemes have been proposed to facilitate micro-payment transactions. By enabling users to make smaller transactions with ease, businesses can monetize content, services, or digital goods that were previously deemed infeasible due to higher transaction fees.

Say to pay 

The proliferation of smart speakers and voice assistants has led to the development of voice payment technology. Advanced voice recognition and authentication technologies are essential to thwart unauthorised access and mimicked voices, ensuring the integrity of voice-based transactions. Businesses that embrace voice payment technology (such as Amazon through its AI-driven assistant Alexa) can provide customers with a cutting-edge and seamless payment experience. The convenience of completing transactions through voice commands enhances customer satisfaction, potentially increasing customer retention and loyalty. Implementing strong security measures alongside voice payments ensures that the convenience is not compromised by vulnerabilities.

Decentralised services

The ascent of decentralised finance (DeFi) is set to reshape payment gateways by leveraging blockchain to create an open financial ecosystem, allowing users to access services without intermediaries. Payment gateways are well-placed to bridge the gap between centralised finance and DeFi. Innovative payment gateways seamlessly integrate with DeFi protocols, enabling direct access to services like lending and borrowing. This blurs traditional and decentralised finance, empowering financial control and expanding investment options. DeFi integration fosters inclusivity, particularly for those without traditional banking access. Integrating DeFi into payment gateways enhances business operations by offering diverse financial services directly through the platform.


The dynamic landscape of payment gateways witnesses the emergence of trends that promise transformative impacts on operational efficiency. By aligning with mentioned trends, businesses can harness the potential of micropayments to unlock new revenue streams and embrace the rapid surge of mobile payments for widespread accessibility. 

Alternative payment methods provide choices, while real-time transaction systems optimise cash flow. Voice payments and AI fortify security and elevate customer experience. Integrating DeFi ushers in financial inclusion. Businesses adopting these trends position themselves at the vanguard of progress, empowered to navigate the digital realm with agility and innovation.

About Kostiantyn Prymak

Kostiantyn Prymak is a fintech communication expert focusing on the online payment technologies.



About Transferty

Transferty is a payment gateway software solution ensuring payment processing for various businesses, including PSPs, ISOs, ISVs, billing companies, or any partners who want to enrich their business proposal and offer a seamless payment experience to their customers without the need for costly infrastructure investments.

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Keywords: payment gateway, online payments, BNPL, payment methods, local payment method, real-time payments, instant payments, crypto, cryptocurrency, digital payments, digitalisation, artificial intelligence, DeFi, financial inclusion, fintech
Categories: Payments & Commerce
Companies: Transferty
Countries: World
This article is part of category

Payments & Commerce


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