{"id":25226,"date":"2021-11-09T07:32:00","date_gmt":"2021-11-09T04:32:00","guid":{"rendered":"https:\/\/www.x-cart.com\/?p=25226"},"modified":"2024-08-29T17:31:58","modified_gmt":"2024-08-29T14:31:58","slug":"5-payment-processing-trends-that-will-shape-2020","status":"publish","type":"post","link":"https:\/\/www.x-cart.com\/blog\/online-payment-processing-trends.html","title":{"rendered":"5 Online Payment Processing Trends for eCommerce in 2021"},"content":{"rendered":"\n

This blog post was originally contributed by Denys Myloserdov, CEO at PayOp, an online payment processing company. <\/em><\/p>\n\n\n\n

Due to the general growth of online stores, the online payment processing industry is rapidly evolving. Business owners want to integrate more flexible payment methods<\/a> into their sites, but at the same time, they need to provide fraud protection.<\/p>\n\n\n\n

As a response to both, payment providers are considering payment customization. Thanks to machine learning, payment processing companies<\/a> have huge amounts of user data, which makes it possible to identify payment trends and to anticipate customer needs.<\/p>\n\n\n\n

In this article, we will explore five key trends in the payment industry and analyze their impact on how merchants will accept payments online.<\/p>\n\n\n

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\n \n Top 25 Payment Processing Companies in 2021 (opens in new tab)<\/span>\n \"Post<\/picture> <\/a>\n <\/div>\n
\n Top 25 Payment Processing Companies in 2021<\/a>\n

To learn general information about the top payment processing companies, read our full guide. <\/p>\n Darren DeMatas<\/a>\n <\/div>\n<\/div>\n\n\n\n<\/a>

\n Trend #1 <\/span>\n E-wallets<\/span>\n <\/h2>\n\n\n\n

Electronic wallets are the most popular and one of the most convenient services for online payments and money transfers. The use of e-wallets and e-money is growing every year.<\/p>\n\n\n\n

According to Statista<\/a>, in 2020, over 44% of all e\u0421ommerce transactions were made through e-wallets. This number is expected to grow to 51.7% by 2024.<\/p>\n\n\n

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\n \"Transactions<\/picture> <\/figure>\n <\/div>\n \n\n\n

Let’s see why this is happening.<\/strong><\/p>\n\n\n\n

Electronic wallets have many undeniable advantages, such as simplicity, security, portability, and safety of funds. And the main trends in the field of online payments are the expansion of payment options, the use of artificial intelligence, voice payments, and integration with third-party services, including cryptocurrencies.<\/p>\n\n\n\n

Let’s take a closer look at some of the benefits:<\/p>\n\n\n\n