Banking and payments are converging in more dynamic ways than ever before. Consumer payments trends continue to transcend corporate environments too, and even businesses that don’t “do payments” as part of their core business are being asked to enable or integrate faster, more flexible and secure payments into their solutions.
As these trends shape business needs in 2020, customers may look to you for expertise and solutions in three key areas.
3 Key 2020 Payments Trends
- The most diverse and dynamic workforce in history will demand more flexibility in wage payments – both for payroll and 1099 payments, including frequency and method of pay. Employers can make wage payments easier for workers – and for themselves.
- The job-seeker’s market will continue to put pressure on recruiting and retention. To be competitive, reward and compensation programs will need to be more creative and timely than ever.
- Open networks and APIs will allow companies to integrate new capabilities into their business without building technology from scratch. But they need trusted partners and payments experts to plug and play with their existing systems.
As businesses navigate these trends in 2020, they’ll need trusted partners to understand and solve related challenges.
Prepaid Technologies is at the forefront of payments trends and technology so that the latest solutions and insights are just a click or a call away.
