FINANCIAL SERVICES
2 . SAAS PLATFORMS SEE HIGHER
ADOPTION RATES The fact that Stripe is now the fastest growing fintech payments startup globally is an indication of just how fast the space is moving . Now worth an estimated $ 95bn , it is also the IPO to watch in 2022 . But all this is a signal that onramps into the payments sector are increasing .
Giant platforms that support online payments such as Shopify and Mindbody have transformed – and are now essentially operating – systems that enable their customers to leverage new and emerging financial services . The platforms are also built with the latest KPIs in mind , offering better customer experiences , faster product delivery and driving business growth . Some are even providing new financial products such as payment cards and loans as a further incentive . This trend looks set to continue its growth trajectory in 2023 , too .
3 . BNPL IS
SKYROCKETING Despite criticism of the ‘ buy now , pay later ’ space , as well as concern that it is encouraging young customers to become embroiled in financial debt , the online trend that allows users to spread their payments into interest-free instalments has never been more popular . A recent survey by Vodeno revealed that retailers in Europe are
embracing new embedded finance offerings , with 56 % of vendors saying they will be launching new products in 2022 .
The marketplace has already seen a robust adoption of services such as BNPL , with 74 % of European retailers already offering the service at the checkout .
According to reports , embedded finance is seeing a strong adoption across Europe ’ s retail and ecommerce sector , with over half ( 56 %) of retailers surveyed intending to either increase their offering ( 34 %) or to start offering ( 22 %) embedded finance solutions in the coming 12 months .
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4 . CONTACTLESS TECHNOLOGY IS
REDEFINING FRICTIONLESS PAYMENTS Mobile payments that no longer require contact to take place are also set to
become more commonplace in 2022 . For starters , Apple announced it is launching Tap to Pay . Also , according to a recent report by investment management firm
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