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The ever-changing landscape of technology has led to the world of payments being revolutionised in recent years. Payments, both online and in-person on the high street have changed irreversibility over the past 24 months. The pandemic has expedited the transition to digital payments, with this highlighting an increasing demand from consumers for payments to be frictionless, instant and secure.

To help you stay on top of the world of payments, the experts at Axcess Merchant Services have put together our list of the payment trends to look out for in 2021 – and how they could change the world as you know it.


User Experience 

With the vast majority of consumers previously purchasing from brick-and-mortar websites, many have now been channelled into ecommerce by the brands they love. Many consumers have embraced the change and have no desire to go back to brick-and-mortar stores.

This leaves an emphasis on merchants like us to ensure that the customer journey is as user friendly as possible offering the best possible checkout experience. Checkout optimisation is a key factor for merchants, key considerations such as mobile optimisation, sleek design, and plenty of payment options.


Strong Customer Authentication – 3DS2

The hot topic of 2021 is the new PSD2 regulations with merchants now required to offer strong customer authentication. Part of this initiative is the new 3D secure version 2, which is where consumers must provide a secondary form of authentication. In most circumstances, this would be a code delivered via SMS to guarantee the authenticity of the payment. This is another step in the right direction to ensure that payments are more secure.

The added benefit of 3DS2 being that it the technology provides a most seamless user experience, helping to reduce check out times and cart abandonment issues.


Alterative Payment Methods – APMs

In the new digital world of E-wallets and instant payment methods, the necessity for APMs is ever increasing with large tech companies such as Amazon, Apple and Google all wanting a piece of the action. APM’s have particularly gained traction in developing jurisdictions, making it essential for a global-focused merchant such as Axcess Merchant Services to offer a host of different payment options at their checkout.

The Pandemic has also played a hand in speeding up the transition to E-wallets such as Google Pay and Apple Pay with safety-concerned consumers opting for the contactless alternative.


If you want know even more about the world of payments, make sure to bookmark our Knowledge Hub, a bank of resources to help you navigate one of the world’s fastest changing industries. If you’re looking merchant account solution to fit your business, get in touch with the team to discuss how we can help.

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