The upcoming changes

5 payment trends for 2019

ApplePay sped up the traffic at cash registers after represented as a payment possibility. Among the youth, money changes owners through MobilePay. Poplatek’s Hilu wristband payments shortened the lines at summer festivals, and in Helsinki, people are praising the handy HSL mobile ticket and its integrated card payment functionality.

New forms of payment give us a glimpse of the future. Payments change and they are becoming a seamless part of the service and the customer experience.  What does the future look like and what trends influence it? How will the payments develop over the following years?


Here are five payment trends that are good to keep in mind:


1)      Diginative Generation Z

In their report Driving The Future of Payments, Accenture highlights that the Generation Z (born in 1995-2012) is one of the most significant megatrends that have an impact on payments.  The Generation Z is a diginative and mobile generation. They have grown up with mobile phones in their hands, with Google, Instagram, and Snapchat on their screens. 


Meanwhile, as this generation is shifting towards working life, payments will change with an unforeseen speed. Payments will become a frictionless part of the new digital services by the demand coming from Generation Z. This is a ride that companies shouldn’t miss!


2)      User experience is important

In the future, the significance of user experience will grow remarkably.  Competition between varying ways of payments is messy, and differentiation is hard. Operators, which keep users and their positive user experience in the centre of their services, gain a remarkable competitive advantage.


The experience of the merchant aka the payment recipient is also important. Is paying fast and secure, is the reportage logical and clear? Easiness, speed and reliability are the main requirements. The winner of the game is the one who understands users and their needs.   


3)      Analytics and artificial intelligence bring added value 

Systems based on machine learning and artificial intelligence parse and analyze information effectively. The possibilities for these systems are nearly unlimited. Simplified, payment-related artificial intelligence guides a consumer to stay in the monthly budget or pay purchases with a cheaper payment method.


However, an earthmoving change will happen through automation. Artificial intelligence enhances a number of process steps in the payment field, whether it is a legislation demand and the follow-ups they create, or a full automatization of the customer services of a big organization. 


4)      Cyber threats and a need for better information security

The amount of payment related apps and ways of paying is rapidly growing. FinTech startups bring new innovative services to markets. In the meanwhile, banks are opening their interfaces creating a whole new ecosystem. 


Cybercriminals are not staying passive. New systems and their possible weaknesses open up possibilities worth tens of billions to cybercriminals with a minimal risk of exposal.


Different operators need to invest in information security, taking care of not significantly weakening the user experience. Machine learning and artificial intelligence make it possible to enhance information security in customer friendly ways. The biometrical identification of users raises the level of information security and also enhances the user experience as the inconvenient key figure lists are fallen into oblivion. The information security of a service can also be enhanced by outsourcing the maintenance to professionals. For example, Poplatek’s own PCI Managed Cloud offers information security as a service, when an application is taken to Poplatek’s operation platform, which is PCI certified for card payments.


5)      Self-service stores are revolutionizing business and payments 

In the near future, almost all the devices are connected to the internet. When payments can be done as self-service whenever, wherever, and from whatever device, the change is major. 


Poplatek, together with Nordic ID, has developed a fully automated and independent self-service store, where payments are a seamless part of the entity. With the help of a self-service store, services can be brought to areas of dispersed settlement, where the conditions to run a traditional store aren’t possible.


Self-service stores are changing the fundamentals of commerce. The year 2019 could be a breakthrough for commercialising the autonomic self-service concept in Finland.



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The upcoming changes

The upcoming changes

The upcoming changes

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