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Revolutionizing the Way We Pay: The Top Payment Industry Trends You Need to Know in 2023

Perficient

Here are some of the biggest payment trends we’re forecasting for the new year. Security/Biometric Payments With the widespread popularity of digital payments continuing to grow, security remains at the forefront of concern for payment companies and their vendor partners.

Industry 471
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The Future of Checks – Tales From The Crypt

South State Correspondent

Checks are dying and about to die quicker, given the rise of instant payments. After World War II, checks were the hot payment technology and helped fuel the boom that followed. At its height, checks accounted for 86% of all payments in the U.S. Now, a paper check could be scanned and turned into an electronic payment.

Fraud 195
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Is India’s ATM Disappearing Act A Digital Payments Boon?

PYMNTS

However, amid the scramble to take advantage of sunset-ing ATMs, might there be additional torque behind efforts to bring India’s payments infrastructure — as well as consumer habits and financial inclusion — further into the digital age? Greenfield Opportunity For Payment Heavyweights. The Opportunity Ahead.

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Consumer Credit Update for 2Q 2023

South State Correspondent

Home equity lines of credit (HELOCs) and bank card usage are up 24% and 17%, respectively. We should see a slight increase in production in 2025 and 2026 driven by lower rates. 1,000+ payments now are 15% of the market which is also a new development. The average payment is $734/month for new and $534/month for used.

Trends 195
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TRENDING: Can Escrow Disbursements Ease Gig Worker Payment Woes?

PYMNTS

Whether it’s a full-time employee waiting for a regular paycheck, a gig worker expecting to be paid in short order or a borrower seeking a loan, payment frictions can be a roadblock to financial stability. Deep Dive: Construction Payments. In the construction industry, satisfaction with payments is often elusive. And in the U.K.,

Trends 128
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Recap of Money 20/20 USA 2023 and 10 Banking Thoughts

South State Correspondent

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. FedNow: Along with lots of sessions and talk around instant payments and its various use cases.

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Deep Dive: The State Of mPOS In North America

PYMNTS

Mobile point-of-sale (mPOS) solutions have enjoyed widespread uptake in much of North America, and the region’s related market could see continued growth if solutions providers, government officials and other stakeholders play their cards right. percent between 2017 and 2026. These numbers are up from 18.5 percent and 21.5

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