Digital payments, digital wallets and innovation in the payments industry continue to grow and new players are entering the market. Even the Government is launching the FedNow system to offer instant payments to businesses which will give customers more payment choices. The digital and instant payment revolution is not slowing down and more choices are coming to market. Consumers are looking for options and savings, especially during times of inflation, and businesses are looking to save on credit card processing fees. The payment revolution is also beneficial for the under banked portion of the population, and those that can't get a credit card or loans due to bad credit or in the case of immigrants the lack of credit history.
We are witnessing a payment revolution that seems to be more inclusive and offer benefits beyond payments. From buy now, pay later to peer-to-peer payments, digital wallets and instant payments, the payments industry is changing rapidly. As we continue to monitor the industry, we continue to look for ways to innovate our products and services to serve our clients and partners. To learn more about what we have available, and upcoming payment solutions contact us today.