Five Key Payment Trends to Watch in 2025
Revolutionary payment trends will advance in 2025 and the coming years. Here’s how you can make the most of these changes if you run a business or use payment services as an individual.

Key Takeaways
- Trends like generative AI, embedded finance, and interoperability are improving the function and efficiency of payment services
- Neobanks and alternative payments offer even more advantages
- Choosing the right payment service can help you reap the benefits
2025 and beyond are expected to be game-changing years as payment trends that began in the first half of the decade continue to develop.
A new report from LexisNexis lists five major trends to watch for in the coming year. Here’s how they could impact your business and its access to payment services — and how you can make the most of the changing landscape.
1. Generative AI
Generative AI will continue to grow in popularity in the coming years.
You’re probably familiar with mainstream AI apps like ChatGPT, but the payments sector is also using generative AI to deliver enhanced features.
This includes functions like automated invoicing, payment processing, and fraud detection. And even if you don’t use AI-powered features directly, you might see lower costs and faster payments as overall efficiency improves.
How much growth can you expect? A several-fold increase. Precedence Research projects the generative AI financial services market will reach $13.3 billion in 2033, up from $1.2 billion in 2023.
2. Embedded Finance
Embedded finance is another trend that’s continually advancing.
The term refers to the seamless integration of financial services into everyday applications. This approach allows apps that are usually non-financial to provide access to payments, loans, investment, payroll management, and more
Juniper Research data indicates that embedded finance could handle $2.5 trillion in global transaction value by 2028 — up from $1.1 trillion in 2024.
As financial services increasingly engage with this area, businesses and consumers can expect to gain easier access to embedded finance.
3. Interoperability
Interoperability allows for connections between financial technologies, including by supporting systems like open banking and embedded finance.
Because interoperability allows for tightly connected applications, it provides a seamless customer experience across the platforms involved.
Plus, interoperability can help promote faster and cheaper payments thanks to improved efficiency and competition throughout the payment sector.
Industry demand is high. 71% of respondents believe that interoperability is very important for faster payments, according to a recent survey from Glenbrook. An additional 21% believe it is somewhat important, adding strength to the finding.
4. Alternative Payments
The public has more access to payment options than ever before — including digital wallets, buy now pay later (BNPL), and peer-to-peer (P2P) payments.
These and other services fall into the category of “alternative payments,” and they’re collectively driving users toward digital payments and away from cash.
Assorted data suggests that digital wallets will make up 61% of global transaction value in 2027, up from 49% in 2021.
Meanwhile, cash is declining: it will make up 11% of global transaction value in 2027, down from 20% six years earlier.
Alternative payment systems will allow businesses to accept a wider variety of payments and reach new markets. The trend is just as beneficial to customers, who will gain more control over how and where they spend their money.
5. Neobanks & EMIs
Neobanks, or online-only banking services, are breaking boundaries by allowing anyone in the world to obtain a financial account. EMIs (which do not offer credit like banks but rather facilitate online payments in multiple currencies and across borders) are seeing enormous growth.
These services often offer superior speed, fees, and customer experience compared to traditional options. EMIs in particular are leveraging new financial technologies like open banking and AI to transform the payment services industry. Customers can benefit directly by opting for these new services — or indirectly as older services add competing features.
Neobank dominance is set to grow, according to Grand View Research. It expects the market to see explosive growth, rising from $96 billion in 2023 to more than $2 trillion by 2030. That represents a 20x increase.
Payset, an EMI Keeping Pace With These Trends
Payset operates as a UK-based electronic money institution (EMI), offering online-first payment services and IBAN accounts to users around the world.
Take advantage of our services: send and receive money in over 180 countries, hold 34 currencies, and exchange 38 currency pairs in our built in FX exchange.
Plus, get competitive fees, fast transactions, top-tier customer support, and more.
Frequently asked questions
What is a multi-currency account/virtual IBAN?
A Payset multi-currency account allows you to receive money in 34 different currencies and send money in up to 38 currencies, all within the same account.
You can deposit and withdraw funds, convert currencies at competitive exchange rates, and hold your chosen currencies to capitalize on market movements.
A Payset multi-currency account allows startups and business owners to receive payments from clients virtually anywhere in the world and pay suppliers, staff, and contractors quickly and affordably in their chosen currency.
- Funds can be deposited and withdrawn from the account for a small fee.
- Account holders can send and receive money with other Payset users for free.
- Depending on your region, you can use various payment networks from your Payset account, including SWIFT, SEPA, ACH, Fedwire, Faster Payments, BACS, and CHAPS.
- Once you register an account, you will be provided with a Virtual IBAN (International Bank Account Number), which makes all of these transfers easy.
- We provide you with local payments and collections. For example, transactions in USD, EUR, CAD, and GBP are processed through the local payment networks, which is far cheaper and takes minutes as opposed to days
Are there limits on the amount of money I can send and receive?
No, there are no transaction limits on Payset multi-currency accounts.
However, higher-volume transactions may require additional anti-fraud verification. If you plan to make a large transaction, contact us in advance to avoid verification delays.
How is Payset regulated?
Payset is regulated as an authorized Electronic Money Institution by the UK Financial Conduct Authority. Our activities are also regulated by the Payment Services Regulation 2017 and the Electronic Money Regulation 2011 (SI 2011/99).
How do I add money to my account?
How do I send money from my account?
Once you have opened your verified IBAN account and added money to a balance, transferring funds is simple.
Simply log in into your account and add a beneficiary, then simply “make a transfer” in your preferred currency to that beneficiary.
Types of Multi-Currency Accounts

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