Technological advancements are reshaping various industries, and the payment ecosystem is no exception. In recent years, we have witnessed multiple forms of payment going digital, signaling a lasting shift in the landscape.

TechRepublic Premium invited different industry experts to impart their thoughts on payment trends we need to look out for.

From the article:

“In 2021, global social commerce sales reached $492 billion — a figure that is expected to nearly triple by 2025 to $1.2 trillion. With the rise of mobile payments and digital currencies, there will be a continued shift away from traditional cash and card transactions. However, that’s not all,” Monica Hovsepian, Global Industry Strategist for Financial Services at OpenText, reported. “Social commerce – the use of social media platforms such as TikTok, Facebook, Pinterest, and Instagram to promote and sell (including the checkout process) products and services — has already started to revolutionize the shopping experience once more.”

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