Fintech: payment trends in 2019

In 2019, the fintech industry must be driven by efficiency and customer experience to attract more clients and to increase spendings. Technology has an important role to play in this process as payment services will become more innovative. This article will look at the trends in this particular industry.

Mobile settlements will be on the rise

These solutions are rapidly approaching a tipping point. This is a result of the increase in the number of consumers using their smartphone to process transactions. According to the latest statistics from a financial firm, phones will replace physical cards as the main remittance method in five years. Moreover, these devices will offer a greater potential for connecting purchases with loyalty programs.

Checkout-free shopping
40% of the customers surveyed revealed that they found queueing to be the most frustrating part of their shopping experience. As such, many brands are working on checkout-free concepts. For instance, Nike has launched one such store. Such outlets would attract more clients since the visit would be more enjoyable and stress-free.

Voice payments
The study revealed that one in three customers would choose to validate a settlement using voice recognition through their home or mobile device. 77% of clients who own a voice-activated digital assistant, such as Alexa or Google Home, already have a payment option connected to it.

Settlement services should be more innovative