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What payment technology trends were predicted for 2020?

Published on 20 Mar 2020

Customer experience continues to drive change in most industries and the payment sector is ripe for disruption. New payment technologies and channels are aligning with customer expectations of fast, convenient and secure services, which essentially improves customer experience (CX).

In this week’s Reading Room, we bring you three articles that explore the digital payment technology trends predicted to shape the payment landscape in 2020

And read what our digital expert, James Hall has to say about payment technology and the role it plays in enabling market competitiveness and delivering a great CX. 

Need help leveraging digital communication technologies to enhance your bill payment strategy and achieve a great CX?

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Top 8 Digital payment trends for 2020

Technology is constantly shaping the business environment and the payment landscape has not been immune to this disruption. 

As consumer expectations of fast and convenient services have come to the fore, many industries have made the shift to digital products and processes to remain relevant. Digitizing payments has thus been a necessary move to ensure payment convenience and security.

According to this article, there have been significant developments around digital payment methods over the past four to five years and more changes are expected in the future. 

Read further to learn about payment trends the author believes will be most prevalent in 2020.


  • Publisher: Digipay
  • Access: Public
  • Download: None

What are the payments trends for 2020?

This blog post uncovers a few interesting security trends predicted for the payment landscape in 2020 – not surprising that customer experience and user convenience are key focus areas. It is noted that a more centralized payment stack will soon replace fragmented online and in store payment systems and services.

The trends highlighted are: network tokenization (to protect payment details); Strong Customer Authentication (SCA) – in line with the implementation of the second Payment Services Directive (PSD2); biometrics – enabling more secure purchases. 

Read on to learn more about these and other innovative payment experiences. All of which aim to satisfy the needs and expectations of today’s ‘on-the-go’ digital consumer, as well as businesses desire for more data and insight.   


  • Publisher: Finextra
  • Access: Public
  • Download: None

2020 Will be a transformational year in payments technology

Payments technology continues to evolve and disrupt the payment industry. And, according to this article (published earlier in January this year), it shows no sign of slowing down in 2020. Transformational change is inevitable.

The top trends identified for 2020 include: seamless payment user experiences as business management software enables integrated payment solutions, payment innovations in the B2B market and the adoption of new payment technologies in banking to ensure market competitiveness. 

To conclude, the author encourages both software providers and payments companies to embrace the opportunities software presents for payment innovation.


A comment from our digital expert:

There is so much payment technology available today, from NFC, credit cards with chips, PayPal on store terminals and even the Amazon concept store, where you simply pick up the items you want and walk straight out, while it charges your account in the background. 

The major mobile players (Google and Apple) provide not only mobile payment technology but web checkout options as well. And then there are a multitude of providers of QR code initiated payments and SMS/Text payments.

If this is all possible in the physical world, then why are some billers still complicating the payment process online?

Today’s digital consumers expect convenience, especially when so many of their service providers are already providing a great digital experience. Billers who are riding the digital wave and meeting consumer expectations will inevitably have the competitive advantage in the market.

James Hall

Commercial Director, UK