With digitization hitting the ground running in 2023, businesses will be aiming to bring the consumer more payment options and reward them for their choices. In this article, we look at the factors that are likely to drive development within the crypto payments industry, based on the opinions of several experts within the space.

1. The Rise In Demand For Real-Time Payments (RTP)

With the growing trend of digital payments and online shopping, instant settlements have become a way of life for many consumers. This is likely to heighten in the coming months as customers make use of and explore the convenient RTP options available. Businesses too are likely to leverage the opportunity to draw more consumers in through varied payment options, from PayPal to BNPL (buy now, pay later) and crypto payments.

In a study conducted by PYMNTS, 26% of the participants said they would swap to a merchant that offers crypto payments. At the same time, Forrester Consulting reported that merchants accepting Bitcoin saw a 327% return on investment.

“Brands will increasingly invest in payment choice in 2023 to create experiences that drive loyalty and enable people to navigate their financial lives,” says Casey Klyszeiko, Head of Carat and Global eCommerce at Fiserv.

The growing freelance economy will also fuel the need for more reliable instant payment options. For example, with the increase in gig economy workers, there is a greater demand for instant, global RTPs. The future of RTP rests on financial institutions and fintech companies’ abilities to leverage practical applications, namely cryptocurrencies.

2. B2B 3.0

Industry experts are dubbing the new wave of B2B commerce, B2B 3.0. With a rise in the need for digital, secure, fast, and flexible payments, more businesses are prioritizing online and mobile payments, with an estimate that 80% of all B2B transactions will be digital by 2025.

Companies, and even governments, are making strong strides in this regard, and will certainly play a role in shaping the crypto payments landscape in the coming months.

3. Consumers Want Sustainable Options

Consumers are leaning towards sustainability in their purchases and choosing eco-friendly businesses. Data from a study conducted by Skift and McKinsey recently showed that 40% of travelers were willing to spend a little extra on carbon-neutral flight tickets. According to the same data, only 14% followed through with this. In 2023, we expect to see more consumers act upon their intentions.

There is also a rising trend of recommerce, the “circular commerce” process that incorporates rentals, repairs, refills, resales, etc. With consumers seeking more sustainable options, cryptocurrencies are looking for more eco-friendly solutions. Just last year, Ethereum moved from a PoW to a PoS consensus in order to reduce its energy consumption by 99.95%.

In the year ahead, we expect more rewards for consumers who make sustainable choices, and more willingness to embrace environmentally friendly crypto networks.

4. Adapting To Fraudsters

As the world continues to adopt a more digital lifestyle, hackers are keeping up, adapting their skills, and finding new ways to obtain sensitive data and conduct illicit activities. Consumers transacting more frequently and often across borders makes their information more vulnerable.

Security is imperative for the payments space to develop. While businesses are implementing heightened security processes, no transaction is quite as secure as blockchain transactions. Since launching in 2009, the Bitcoin network has never suffered from a hack or breach of security, and no transaction has ever been reversed, making it not only incredibly secure but a prime advantage for businesses that suffer from fraudulent transactions.

5. NFC Technology and Mobile POS

With the rise in both demand and implementation of NFC-compatible payment solutions, mobile phones and tablets are beginning to function as payment terminals on their own. The prediction is that businesses will adapt their current payment systems and implement SoftPOS (Software Point of Sale), catering to the rising demand.

At the frontier of this development, Oobit’s app allows users to pay for goods and services directly from their Oobit account, simply entering a merchant’s phone number or wallet address, or tapping to pay. With the growing popularity of digital payments, cryptocurrencies have become an easy and obvious solution.

6. A Rise In Digital Wallets

The digital wallet is becoming the preferred way for younger generations to transact, and merchants are increasingly adapting to this need. In the coming months, more businesses will opt to transact with a digital wallet as opposed to dealing in cash or with physical cards.

Within the metaverse, cash is non-existent and a physical card will be useless, users will have no option but to utilize a digital wallet and embrace the world of digital currencies.

7. Businesses Moving to Cloud Solutions

With cloud solutions, businesses can leverage payment data to improve customer experiences and unlock new value. In 2023, we will see businesses moving to cloud solutions and tapping into a whole new world of analytics, thus improving the payment experience of the consumer.

Companies can take advantage of real-time data and use it to identify consumer trends that can lead to a competitive advantage. With the rise in crypto payments, more and more businesses are likely to identify the need for and implement this payment solution.


The crypto payments industry is a fast-moving, dynamic space that is flexible and ever-changing with new solutions and incentives to appeal to different consumers. Accepting crypto as payment not only streamlines procedures, it adds a social quirk to the business. With these trends at the forefront, crypto adoption and payments are estimated to continue to soar in the coming year.


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