Ways to pay in 2023 – Encoded’s top five payment predictions

Originally seen as an alternative to traditional ways to pay in-person, Apple Pay and Google Pay have now gained traction as a replacement payment method for cash, credit and debit cards and are set to increase in popularity.

Customers choosing to pay using Apple and Google Pay on their mobile devices and authenticating with biometrics, means they can pay anywhere, anytime. As new forms of biometric authentication are introduced the technology is future proofed, eventually forcing other payment methods into retirement.

Solutions like Encoded’s PayByLink can support customer journeys and provide all important security. By sending a secure, one-time use link to a phone, by email or WhatsApp, customers can pay at their own convenience, knowing their personal and sensitive card details are safe. It brings peace of mind to those nervous about mobile payments and it helps hybrid contact centres to manage transactions quickly and easily.

The Government’s Digital Strategy 2022 also recognises this, asserting that the UK’s economic future is reliant on “continued and growing success in digital technology.” A digital strategy can open up different channels for the customer to interact with an organisation in multiple ways. Making it easy for customers to make enquiries or pay securely, in their channel of choice, is the way forward for successful business.

This may be particularly useful for paying fines and or sensitive fees, where the payment can be handled without agent contact, preventing possible agent abuse. IVR can also prioritise vulnerable callers with specific needs who may prefer to speak directly with an agent rather than chat online. Two important examples as we enter a challenging year for consumers.