Have you ever stopped to think about the payment method trends for 2022? But what are these trends? Options include fast payment methods, such as Pix and QR Code, payments via apps, cryptocurrencies, and more.
Payment method companies are gaining ground with the digital revolution and are seeking to improve customer service demands, following the movements of an increasingly digitalized economy.
The Covid-19 pandemic has become a milestone in the growth of the so-called digital transformation. The need to continue serving people during social isolation has forced companies to adapt or reinforce the use of digital resources for their businesses. With the large volume of transactions taking place, the payment methods sector has also faced the challenge of meeting the growth of digital entrepreneurship. Another key point in this equation was providing the best experience for consumers.
Navigating this scenario and pointing out the opportunities instagram data and trends that are emerging, the E-Commerce Brazil Payments Committee presented a report presenting the scenario and the future of e-commerce payment methods in Brazil. This analysis pointed out the main trends, challenges and good practices in the sector for the first half of 2022, with two central themes:
- Invisible payments, checkout and new technologies;
- Financial services incorporated into retail.
Below we share a brief summary of this report.
Easy 1-click purchasing
Invisible payments are those that do not require consumer intervention to be carried out and are growing sharply in Brazil. Global data shows that the level of cart abandonment on sales websites is 69%, of which 28% are motivated by the need to fill out long forms, 19% by the unreliability of the website for using credit cards and 8% by limitations in payment methods.
Thus, the 'one-click payment' experience already implemented by some platforms will come with even more force in the next semester and in 2023. Furthermore, in the case of retail, the use of digital wallets and credit structures for end customers should also grow.
One of the focuses is to reduce friction, that is, to minimize as much as possible the actions and movements that discourage purchases. And the solution to this is to increasingly automate payment methods. However, with the consumer in mind, it is necessary to keep the tool easy to use and one point is the transparency of the services. To this end, payment methods must be more fluid, generating security and reliability.
In this scenario, Open Banking has the chance to transform payments more than Pix, because as we know, Brazilians depend on credit, and Pix Garantido is also a form of credit. Furthermore, in the case of sellers, this new system will allow entrepreneurs to choose the best alternative to direct their financial service linked to their models.