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Payment trends that are shaping commerce development in 2024

Technology has brought transformation and innovation in consumer behaviors, in the way they interact with companies, in customer shopping preferences, and in the way they make payments for products and/or services.

E-commerce has generated a dynamic that has allowed businesses to reach more people more quickly and extensively. The convenience, efficiency, and security in which transactions are made, are the guidelines that customers highlight as elements in a safe shopping experience without interventions.

In this blog we will explore some of the proposals that are trending in 2024 and that users have chosen among their preferences.

Account-to-Account Payments (A2A)

This payment refers to the direct transfer of money from one account to another, without intermediaries, such as debit or credit cards. This form of payment has moved towards open banking, led by API technology, with an infrastructure of digital payment solutions for corporate and retail use.

Important terms:

  1. Open Banking: a model that facilitates the exchange of information between all types of financial institutions, through application programming interfaces (APIs).

  2. API or Application Programming Interface: A set of functions and procedures that allows systems integration, allowing their functionalities to be easily reused by other applications or software.

Types of account-to-account payments

Push payments:

This payment method is immediate and guarantees that the products and/or services have been paid for. Also, customers make the transaction from their bank accounts to the merchant's bank accounts. Both the payer and the recipient quickly know how much money is being paid and received.


  • The customer is informed of the payment amount at the point of sale and avoids wrong charges claims, which minimizes refund requests and returns.

  • Security and convenience for the customer who knows their payment method (Debit and/or credit card, Apple Pay, or direct deposit).

  • Provides security to the merchant, as this payment processing generally features fraud detection.

Examples of push platforms: Venmo, Zelle, CashApp, and Paypal (Instant Transfer).

Pull payments:

In this payment method, merchants automate their customers’ recurring payments, through automatic debits from the accounts, under the customer's consent (automatic subscriptions with direct debit).



  • Used for cancellation of services based on recurring subscriptions or billing.

  • It is a convenient way to make regular payments without risking service cancellation due to late payment.

  • These periodic payments improve cash flow management, favoring the financial planning of commercial establishments.

Examples of pull platforms: PayPal, Direct Debit, Mint, and YNAB.

Contactless payments:

Contactless technology or NFC, Near Field Communication, is a payment technology through a payment terminal, which allows customers to make transactions by bringing their cards, smartphones, or devices close to the device's reader.

This technological option provides customers with a faster and safer payment experience. Currently, all payment terminals are adapting their infrastructures with contactless technology.


  • Contactless payment allows users to make transactions quickly and easily by simply bringing their credit card, debit card, or mobile device close to the payment terminal.

  • This eliminates the need to enter a PIN or sign a receipt, which optimizes the payment process, especially in situations where there are many people in line, such as in stores or on public transportation.

  • Contactless payment is compatible with a variety of devices and technologies, including credit and debit cards with an NFC chip, mobile devices such as smartphones and smartwatches.

Example of devices that include contactless payments: P200, MX915, P400

E-commerce and online payments:

These payments are made through digital platforms and have become a trend for all businesses that are experiencing e-commerce, who must have these payment options.

Secure payment platforms such as PayPal, Stripe, and Square are currently leading online transactions and are helping retailers to expand into a wider market by offering online cancellations of their products.


  • They allow users to make transactions from the comfort of their home or any place with Internet access.

  • There is no need to physically go to a store or bank, which saves time and effort.

  • They are available 24 hours a day, 7 days a week.


Digital wallets:

These are applications where money is stored and transactions and transfers can be made.

Customers of today are making use of digital tools, like apps for payments and transactions, more than ever.

Many retailers are receiving payments through these apps, which are secure and fast, only requiring a mobile device, instead of using cash or a credit and/or debit card. Some examples of these wallets are Apple Pay, Google Pay, and Samsung.


  • This enables users to store multiple forms of payment, such as credit cards, debit cards and bank accounts, in one place accessible from their mobile devices.

  • Advanced security technologies, such as data encryption and biometric authentication, to protect users' financial and personal information.

  • Eliminates the need to carry multiple physical cards and cash, while simplifying the payment process both in physical stores and online.

Banking as a Service (BaaS):

This is a model that allows non-banking companies to offer financial services to their customers without the need for a banking infrastructure. Some of the services offered by BaaS are payment accounts, transfers, cards, and loans, among others. Banking as a service has increased its financial services integrated into applications and digital platforms.



  • Enables companies to integrate financial services into their products or platforms quickly and efficiently, without the need to build a banking infrastructure from scratch.

  • Gives companies the flexibility to choose and customize the financial services that best suit their needs and those of their customers. From bank accounts and payments to lending and offering risk management options.

  • Significantly reduces the time and costs associated with developing financial services, enabling businesses to launch products more quickly and adapt to changing consumer needs.


Cryptocurrencies or digital currencies:

Cryptocurrencies allow peer-to-peer transactions to be carried out directly, without the need for intermediaries such as banks or traditional financial institutions.

When a cryptocurrency is used as payment, a transfer of digital value is made from one part of the main blockchain network in use to another. This transaction is securely and permanently recorded on the blockchain, ensuring the transparency and integrity of the transaction.



  • Cryptocurrencies allow instant transactions, anytime, anywhere in the world, without the geographic limitations and waiting times associated with traditional financial systems.

  • They have significantly lower transaction costs compared to traditional payment methods, especially for international payments.

  • They offer a high level of privacy and security for transactions. Blockchain technology guarantees the integrity of transactions and protects against counterfeiting and fraud.

💡 By 2024 more than 50% of e-commerce transactions will be conducted through digital platforms.

PRO TIP: If you run a grocery store, bodega, or retail business, keep in mind that systematizing and optimizing your operations is crucial to enabling your customers to make all kinds of secure transactions. With our Point of Sales Systems and all our terminals, you can also receive all forms of payment: Cash, Debit Card, Credit Card, EBT Cards, WIC cards, and OTC Cards, as well as many of the other methods mentioned in this blog.

We help you generate more sales with our services! If you want to learn more about our benefits, contact our sales agents at 1-888-507-6614 or visit our website:

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