Shopping and payment: 5 big trends to follow

October 22, 2019
Shopping and payment trends to follow

The popularity of online stores grows with every year – more and more people see shopping as on-the-couch activity. Naturally, this trend has a great impact on how people pay for goods and services. The most obvious outcome is the rapidly decreasing demand for cash, that many of us find rather cumbersome. A person who starts counting bills and coins at the cash register of a supermarket is likely to become a source of frustration for other customers waiting in line, who pay for their groceries with a touch of a card.

But there are other mega-trends that are likely to affect the general future of payment, transforming the process of buying and selling things beyond recognition.


According to researchers, those trends are:


Trend #1: Increased number of cross-border payments

Modern consumers are well-aware they they can save money and get access to a wider range of goods just by making an order on a website, based in another country. There are giant marketplaces like Aliexpress or Amazon which can sell you absolutely anything. Discriminatory practices like geo-blocking has recently been removed in Europe, making things easier for shoppers without borders. 

This tendency presents a major challenge for the payment industry, which is rather slow to adapt to the changing reality. However, there are some promising trends, as more fintech startups enter the market with their blockchain-solutions targeted at reducing the cost of cross-border fund transfers and increasing their processing speed. These solutions are already widely used in the underdeveloped and mostly unbanked areas, like some parts of Africa. And, given the growing volume of international trade and the inability of conventional payment systems to meet new requirements, blockchain is likely to shape the future of the sector.

Trend #2: Simplifying payment procedures

E-commerce is a highly competitive sector, and your ability to make an impatient customer submit an order largely depends on how your payment process is organized. If you want them to enter too many details or fumble with a card, your customers are likely to abandon the shopping cart and leave your marketplace to never come back. 

Therefore, online store developers seek to ensure seamless customer experience by streamlining payment procedures that today are supposed to be very fast, highly secure and transparent from the beginning to the end. Ideally, it should be made in one click.

The market players keep exploring methods to achieve this goal.
Amazon was one of the pioneers here, introducing its ‘one-click’ payment solution. Also, there are schemes eliminating intermediaries from the payment process, when the merchant is given direct access to the customer’s banking account. It allows to avoid processing fees that are suddenly added to the final price of your cart when you have completed the form.

Trend #3: Integration of payment tools into the platform

More and more platforms seek to create their own ecosystem, adding in-house payment tools. The examples that come to mind first are Google Pay and Apple Pay systems. Also, there is Facebook with their controversial Lybra cryptocurrency, aimed at becoming a sort of global money. Though banks may be unhappy with this trend, it’s apparent that partnership with disruptive fintechs will make them more agile and responsive to the customers’ needs.

Trend #4: Rewards and cash back

It’s not a new trend – actually, coupon clipping as a method to save money and make yourself feel smart is more than 100 years old.
As online shopping makes finding and applying a discount coupon much easier and fun, this practice has got extremely popular in the recent years. Today, customers see rewards as a natural part of shopping and payment process. To satisfy this desire to get a bonus or cash back, online stores and payment systems implement various reward programs or partner with coupon websites to promote their products.

Trend #5: Bring a friend and pay less

The modern world is interconnected, meaning you can easily reach any of your contacts, and there are hundreds of them. Potentially, it gives retailers an opportunity to reach the relevant audience, using the ‘grapevine method’. Actually. this tendency for social buying is closely connected with the one mentioned above: an online marketplace gives customers a reward or a discount for sharing the info about product offers with their friends who might also be interested. If they make a purchase, the link-sharer pays less for his/her own order, and the retailer saves money on product promotions and customer acquisition. 

There are platforms like PinDuoDuo that skyrocketed due to implementing this feature. It seems, making buying a social activity is a key success factor.


Combining all the five trends, the Exscudo ecosystem was developed to address the basic needs of a modern customer. We make cross-border money transfers simple, cheap and secure, and provide multiple crypto and fiat coin options, so you could choose the most convenient one and save money on currency exchange.

All payment-related procedures are made really easy, due to the intuitive interface. Finally, TEAMSHOP shopping platform, matched with Exscudo payment app, is to be launched soon, catering to the smart shoppers and coupon hunters.

Join us to have your needs addressed – and anticipated.


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