Four Payment Trends in 2022


As the global pandemic continues to drive innovation in the fintech industry, the demand for speedier and frictionless online payments will only increase in 2022 and in the years to come. For merchants, the benefits are endless. For consumers, it’s more convenient than ever before.

Keep reading to find out what the 4 payment trends in 2022 are.

  1. Bidding farewell to passwords and PIN codes

As technology develops and more cardholders worldwide become more comfortable with using it for payment processing, consumers will become the main authenticator for payments and traditional passwords and PIN codes will slowly become a thing of the past.

Biometric authentication is the most secure form of authentication currently available, using the consumers’ unique biological traits to verify their identity. In addition, it’s simple to use, less time consuming and doesn’t require you to memorize anything. The only concern is privacy, as many consumers are not on board with sacrificing privacy for convenience.

  1. Cryptocurrency regulations

Last year was big for cryptocurrency. Both Bitcoin and Ethereum hit their all-time highs in 2021, followed by a skyrocketing interest in crypto from everyone, from big investors looking to make money to your next-door neighbor. But what can we expect in 2022?

Exact predictions are borderline impossible, especially in the ever-changing world of crypto, but we are safe to assume that this year there will be continued conversations about laws and regulations. While these rules could make it easier on investors and give people more confidence in cryptocurrency long-term, we can expect them to affect prices.

  1. Cross-border payments

Sending money from one country to another through a traditional bank can be a tedious and costly process and there’s a good chance you won’t be able to do it at all. Well, the pandemic accelerated a lot of things in the fintech industry and cross-border transactions is one of them!

Due to the changes in consumer behavior because of the pandemic, the demand for cross-border payments is at an all-time high. In 2022, they’re expected to soar to a total of $156 trillion!

  1. Merchant acceptance

A growing number of merchants are ready to accept crypto at checkout. Large corporations in the US are paving the way for a new payment method and currencies that many people consider to be the future of money.

Microsoft, PayPal and Wikipedia are already allowing the use of digital currency, and we are expected more and more companies to follow in their footsteps in 2022, if nothing else then for marketing purposes.

In the world of fintech, we are in the middle of transformative changes. The full potential of blockchain technology has not even been touched yet and banking as we know it is changing for good. Our team is here to help you navigate payment processing and support you in making the best decisions to thrive in the future.