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20 Dec 2022

In our fast-paced world predicting the future of digital payments can be tough and absolutely pointless, but there is always a safe place for effective forecasting.

With new players on the market arising daily, consumers’ sky-high demand and rocketing innovative technologies, the payment industry has become a true honeypot full of opportunities for both – merchants and payment providers.

The COLIBRIX team reviewed a number of reports to find out the current status of the most popular online payment methods and its perspectives in 2023.

But before setting up the top, one first needs to have a piece of common knowledge about all the online payments possibilities.

Cutting edge payment methods or what to choose as a payment method in 2023

Payment methods have become an essential part of the online services industry. The increasing number of consumers using e-commerce to purchase products has amplified their importance. The sector is constantly evolving, with new types being introduced every year. However, a few of the most important payment methods are described as follows:

Debit and credit cards

What’s the first thought that comes to mind when you hear debit or credit card? Right, Visa, Mastercard or American Express – the most trusted and frequently used brands.

Despite this fact, Visa and Mastercard had varying market shares across European countries in 2020, sometimes extremely lower than domestic payment cards, according to Statista. The survey also says, while credit cards are gaining in popularity, debit cards account for a larger share of the European market.

And now in details and numbers: Credit’s share is projected to decrease globally to 22.4% by 2025, while debit cards are projecting to fall slightly to 22.3% in 2025, according to FIS, Global Payments Report.


Speed and comfort are another important drivers of the payment methods. The e-wallet has evolved from its original form into a comprehensive all-in-one financial tool. It literally has 'won the battle' for most millennial customers, who use the devices not only for payment, but crypto or tickets storage, vaccine information, IDs, loyalty programmes, bills payments and myriad of other features.

FIS, Global Payments Report outlines that almost 50% of businesses receive 1/3 of their earnings through digital wallets, but for every 7th company, this number rises above 40%. Moreover, the study finds that by 2025 the global transaction volumes in the e-commerce sector will increase by 50% and more than 30% in-store. Aren’t these numbers impressive?

Buy Now, Pay Later (BNPL)

The BNPL model has shown an enormous growth over the past two years due to the demand for affordability. In Barclays’ Rise Insights recent whitepaper 8 in 10 European merchants predict that BNPL will continue to rise and become a mainstream solution by 2025. The new regulations are to be set to provide bigger calmness and secirity to the public, and could lead to an even greater adoption of the technology among B2C and B2B customers.

Integrated shopping apps, card-linked installment offerings, rent-to-own models, SME sales financing – all of these undoubtedly improves BNPL market share consistently and brings economies of scope and scale, accounting for 3% of global ecommerce payment methods now, and expecting to grow to 5% by 2025, The Global Payments Report by FIS says.

Account-to-Account (A2A) payments and Peer-to-Peer (P2P)

A2A payments are not somewhat late to the party. Direct debits or subscription payments are booming for a few years now. Cost-efficiency, up-leveled UX, and Open Banking technology helped to gain momentum, so now the number of A2A use cases is at an all-time high and continues to evolve the space rapidly.

After COVID-19 an e-com boom helped A2A payments to become increasingly mobile-friendly and API-driven, which emerged in new parallels - peer-to-peer payments (P2P). Splitting a bill? Buying second-hand bicycle? Sending money to parents? P2P is a “lifestyle” solution and who doesn’t like comfort in every detail? Nevertheless, there recent analysis from Global Data research reveals that only 55% of consumers have used P2P payments to transfer funds either domestically or internationally.

In general, A2A payments are now forecasted to be brought to the masses and to grow for 20% of ecommerce payments by 2023, according to a McKinsey Global Payments Report.


While old preferences still hold true, hundreds of digital assets continue to flourish and spread across the world. The CoinMarketCap shows that the total market capitalization of all cryptoassets including Bitcoin was $1 trillion in January 2021 and this number doubled in April 2022.

However, cryptocurrency is mostly seen as an investment, as only 58% of consumers used cryptocurrency for payments in e-com in 2021. Compare that to just one year later, when the figure increased to “oh wow” 88%, one of the Global Data Researches says.

The growing acceptance of cryptocurrencies as a payment method has been driven enormously by an increase in SMEs willing to accept it. And while it is still early days of reputation and trust, there’s no denying the momentum around digital coins and NFTs has accelerated.

Instead of conclusion

So, returning to the main question: “What to choose as the payment method in 2023?”

Before answering this question, apart from the understood fact that the payment touchpoints must be diversified, it is important to think of the other meaningful features:

  • Are the payments your company receives local and/or international?
  • Are multi-currency solutions important for your business?
  • Does your business have cross-border customers and what payment methods they prefer?
  • Are transaction fees important for your clients or UX is at the top of a rank?

The one thing is crystal clear: The more your business is client-oriented and customer-focused (in B2B2C, for example), the greatest potential for success your company has. New digital-first consumers require an entirely new approach to payment technology and they are leading the way in terms of what channels, payment methods and providers will win the race.

And, of course, COLIBRIX is always there to help you make the right choice and to reach new horizons with our payment methods.


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