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Payment trends for your business

Selling is the main goal in business, but selling assertively has become a great challenge that focuses on the purchasing experience, betting on technology as an ally in payment processes, allowing you to expand the market, leaving behind the limitations of time and location, because you can now buy the products you want, whenever and wherever you want.

It is impossible to deny that there has been a significant evolution in the way consumers operate in the market. New communication modalities and means of communication between customers and businesses have emerged, expanding on the traditional approach based on physical presence and giving rise to electronic commerce.

The client has grown and strengthened its characteristics, both online and offline. Companies must be able to satisfy the needs of their consumers and offer them different payment alternatives because they are looking for a product and expect their purchasing experience to be successful.

What are payment methods?

Payment methods are the different ways accepted by the market to access the purchase of products and/or services.

What are the most common payment methods?

We know that payments with cash and card transactions are the most common payment methods in commercial establishments, however, digital transformation has been added to this, which has diversified payment solutions. Below, we list some that you could implement to secure your sales even more.

Point of Sale Terminal (POS): Commercial establishments require this device to accept credit and/or debit card payments. Its characteristics vary depending on the equipment, and its use optimizes the processes of your company.

NFC (Near Field Communication)

Payments made by contact are a form of wireless communication between devices with short range and high frequency. Smartphones and debit and credit cards have this technology included.

Modern smartphones are often equipped with NFC technology, which allows users to load their credit or debit cards into a mobile payment application (for example, Apple Pay, Google Pay or Samsung Pay). They can then make payments by simply bringing their phone to the NFC-enabled payment terminal at stores, restaurants, or gas stations.

Electronic bank transfers: Companies can receive their payments through transfers from customers to their bank accounts.

Online Payment Gateways: It is a technological tool that allows businesses to accept online payments from their customers, acting as an intermediary between applications or websites and the financial entities that process payments. A very common example is payments through PayPal, Zelle, Square, Stripe, among others.

• Interesting fact about PayPal: A platform that allows you to pay and get paid without having to share your bank details. It emerged when customers began to demand secure online payments.

Did you know that Mobile payments with smartphones are becoming the main protagonists? Mobile payments are forecast to grow to $6 trillion by 2024.

Currently, users are making payments for their purchases and various transactions using mobile applications. Example: Google Pay, Samsung Pay, Apple Pay or bringing the smartphone closer to a POS (Point of Sale Terminal).

Virtual cards: A physical card is not necessary. It works to make purchases and payments through the internet and in the establishment.

Digital wallets: Applications that store payment information, such as credit and debit cards, to facilitate fast and secure payments. Some examples are Apple Wallet and Google Wallet.

Digital currencies: Some companies have advanced in their ways of receiving payment, using digital wallets and cryptocurrency transactions. (Bitcoin and/or Ethereum)

Subscriptions or recurring payments: Tools that allow companies to set up automatic payments and recurring subscriptions for products and/or services.

Biometric Authentication: Some payment methods have been incorporated, adding biometric technologies, such as the use of facial recognition or fingerprints to authenticate customers.

QR Codes: Payments are made very similar to contactless, only by bringing the camera of a smartphone closer to a printed or on-screen QR code. To use it efficiently, you need an installed application that works as a virtual wallet.

And you, as a businessperson, did you know these payment methods and how to take advantage of their benefits? If you don't know them, it's time to start the research and select the ones that best suit your business. Current trends are focused on making the payment process faster and safer.

Interesting Statistics.

  • Forbes Advisor conducted a survey during 2023 that showed that 54% of consumers in the United States use debit and/or credit cards as the most common payment method.

• According to a report from the Federal Reserve Bank, 84% of the country's adults have a credit card and continue to use them to make their payments, increasing consumption to $38,000 Dollars. See more information about credit cards in the USA.

• During 2023, there are around 921 million Visa debit cards and 1,460 million MasterCard cards in circulation in the United States.


Universum adapts to the needs of its clients and has a variety of payment processing equipment with advanced technology that allows you to receive any payment method: debit and/or credit card, electronic cards such as Apple Pay and Google Pay, EBT card and WIC card. Secure transactions that improve the shopping experience and provide peace of mind.

Do you want to know more about Universum?

At Universum, we provide you with professional advice to grow your business. also, we offer the best payment processing equipment.

Enjoy all of our client benefits with our uCare+ plans, including the total protection of your POS equipment.

Visit our web page: and get to know all of the benefits we offer.

If you wish personalized assistance, contact our sales agents +1-978-416-9964, we'll be happy to help in spanish or english.

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