2023 trends for global payments

Worldwide and International Payment Trends to Follow in 2023

November 25, 2022

People around the world have drastically changed their lifestyles and the way that people operate in the world are significantly different since the pandemic. Due to this, the way that people expect to conduct transactions have changed as well. Before the pandemic hit, most of the worlds global population used traditional ways of payment. Cash, debit and credit cards, online banking and mobile wallets were the typical options. However, due to the pandemic, more and more people have started utilizing mobile banking or other forms of contactless payments.

This became a new normal and with this came better technologies and many innovations in the payment industry. The payment industry changed rapidly in front of our eyes and international payment trends were greatly impacted. Due to customer expectations, international payment trends in 2023 will likely continue to change in order to uphold how customers want to process transactions with merchants.

Top International Payment Trends to Follow in 2023

The world’s payment industry is experiencing a period of growth, and the industry is going to continue expanding in 2023. Some stores have shifted and experienced more online shopping than in-person shopping. Even the way people choose to make payments in-person has changed. We anticipate these changes to continue evolving rapidly over the next year. The following are some of the most important trends to watch for in the upcoming year:

Online payment for offline purchases

The pandemic forced people to make digital payments. People were afraid of touching the cash as they were afraid of contamination. In 2023, online and offline payments will become more integrated. Consumers will likely continue to prefer to pay online even if they purchase products/services in-person. Therefore, payment processors and financial institutions will continue to improve the customer experience for online payments. Mobile wallets will become increasingly popular and QR scanning for payment will be the new normal and with the introduction of biometrics and AI, online payments will be even more secure.

Credit card payment trends in 2023

According to the MasterCard 2018 Global Payment report, credit card payments are still the most popular payment method. Credit card payments are expected to grow at a rate of 5% in 2023. The main reason for this is due to their convenience, security, and different rewards programs.

Debit card payment trends in 2023

International Payment Trends in 2023 to Follow

As the world continues to become more connected, credit card usage will increase. Credit cards are still the most popular payment method in most countries, but debit cards will also become more popular over time as people move away from using cash.

Mobile payments are also set to experience a boost in popularity by 2023 as people continue to use their smartphones more often and make purchases online or at brick-and-mortar businesses that accept mobile payments.

Buy now pay later (BNPL) is another option that has been growing in popularity among consumers looking for ways to save money up-front on purchases they make. This allows for a customer to pay for a portion of the item, and then pay off the rest over time in a monthly payment. This trend could likely grow if interest rates decrease, incentivizing people to utilize these financial tools.

Mobile payment trends in 2023

In 2023, mobile payments will become much more popular than they are today. Mobile devices are already used to pay for goods and services, but in 2023 they also will be used to pay utility bills and for government services.

In addition to being a convenient way to make purchases on the go, mobile payments can also help make life easier for those who have trouble remembering their banking information or PIN numbers when visiting a bank branch or ATM machine at home. For example, you could use your mobile phone’s camera to scan an image of your debit card so that you don’t have to physically show it each time you want to access your account balances and transactions history—all without having to write down any personal information whatsoever!

Buy now pay later payment trends in 2023

Buy now pay later payment is becoming more popular. There are many reasons why you should consider this method of payment, including:

  • It’s a convenient way to shop online and offline. If you’re traveling, it can be nice not to have to worry about paying for your purchases before you leave home or while on vacation; all that matters is getting them paid after your return.
  • It’s an easy way to plan ahead without having any concerns about being able to make payments quickly when needed (e.g., during tax season). This method also makes it easier than ever before because there aren’t any fees associated with making these types of purchases—and if there were, they would likely be minimal compared with traditional methods like credit cards.

Digital wallet payment trends in 2023

Digital wallets are growing in popularity, as more customers are turning to them for their payment needs. The reasons for this shift include:

  • They’re becoming more secure. With the rise of biometric technology, digital wallets can now generate unique codes for each transaction and verify your identity before you can use them—a major step toward making digital payments more secure.
  • They’re becoming more convenient. As we’ve seen with Amazon Prime Day and Black Friday sales (and even Cyber Monday), consumers are looking for ways to save money on items they want by buying them at lower prices than traditional stores offer during these events; this means that companies need new ways of encouraging customers who might otherwise not have considered using their products or services before now—and one way they can do that is through discounts such as those offered by Amazon Prime memberships. These give buyers access into exclusive deals like free shipping offers available throughout certain time periods each year after an annual subscriptions have been purchased.

QR-code payments trends for 2023

The QR-code payment trend will continue to gain momentum, but it won’t be the only method in town. In fact, there are several other ways that you can pay with a QR code.

In 2023:

  • QR codes will be used more frequently in countries outside of China (like Japan and Brazil) as they have become more popular there. This is due to the fact that these countries are less likely than China to have cashless payment infrastructure installed at all retail locations—so if your bank doesn’t support it yet, then you’ll still have to use cash or another type of payment methods like NFC or contactless cards when shopping in those countries’ markets.
  • Companies will start using QR codes for payments within their own operations as well.

Payments regionalization and localization trends in 2023

One of the major trends in payments is payment localization. Payment localization refers to the ability for a merchant or consumer to choose where they want their money sent, not just where it’s held by a bank or other financial institution.

Payments regionalization and localization are closely related at this point in time, with both being tied directly to the concept of digital currencies like Bitcoin that allow users to send funds anywhere in the world instantly at no cost. This has caused many companies who rely on traditional methods of transacting business (like banks) to rethink how they do business with their customers because there could be significant benefits when it comes down to choosing which country you prefer sending money from/to based on factors like language barriers and cultural differences—or even just convenience!

Technology modernization in payments in 2023

The technology landscape for payments will be a major driver of change. In 2023, there are many ways that you can make and receive payments.

  • Online and offline payments: With the rise of digital wallets and credit cards in the United States, we expect an increase in online transactions as well as offline ones—especially for e-commerce transactions (e-commerce is one way to use a card or phone app). We’re also seeing more people using their smartphones to pay for things like coffee at Starbucks; this has led some companies like Starbucks & Dunkin Donuts to offer free WiFi access so customers can check out quickly while waiting in line outside their stores!
  • Credit card payment trends in 2023: There will be an increase in the number of banks issuing new credit cards with chip technology by 2022; this means that if you have one now it will likely remain unchanged until later this decade when most merchants switch over completely instead making just minor adjustments here or there depending on how much work needs to be done before security upgrades need to be made.

Cybersecurity To Improve With Technology in 2023

Cybersecurity is a major concern for businesses and individuals. Cyber attacks are happening with increasing frequency, and they have the potential to cause significant damage to your business or personal life.

In the past decade, technology has helped improve cyber security by providing ways for businesses to better protect themselves from hackers and other cyber attacks. Technology will continue to play an important role in improving this area in 2023 because it offers many advantages that can be used by companies worldwide:

  • Security cameras are now available at all retail locations; these cameras monitor what goes on inside stores so employees know when someone sneaks into the store without paying for goods or services (which leads us to our next point).
  • Biometric scanners allow shoppers who use these devices at grocery stores or department stores such as Macy’s, Wal-Mart, etc., to access their accounts without having their passwords exposed. This means fewer chances of being hacked into through phishing scams.


Overall, the global payments industry is going to change dramatically in the next few years. The rise of mobile payments and digital wallets will continue to grow, as well as growing trends for QR-code payments and other innovations like the smart home. There are also new developments on a regionalized or localized scale that could have a big impact on how people pay each other.

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