The future of payments: Enhancing innovation and trust in a changing landscape

The payments industry is shifting fast, and consumers are feeling the strain. Whether they’re paying in-store, investing for the future, or splitting costs with friends, global uncertainty and an explosion of new payment options like crypto and BNPL (“buy now, pay later” financing) are making everyday financial decisions more complex. For example, Billboard claimed that 60% of the crowd at Coachella Valley Music and Arts Festival used BNPL to pay the $600+ per-ticket fees, according to Entrepreneur.com. This granted attendees instant financing upon checkout with an up-front cost of as little as $50—an option that certainly wasn’t around when the festival first started drawing fans to the desert.

Regardless of the platform, consumers want more than just secure transactions—they expect clarity, convenience, and support from the brands they trust. To stand out, payment companies must deliver relevant, well-timed experiences that solve real problems and build lasting loyalty. Here’s how payments brands can navigate these challenges, acquire more users, and achieve the coveted “top of wallet” status.

Understanding the shift in consumer preferences

The payments landscape is shifting as consumers increasingly seek convenience, security, and flexibility in their transactions. Traditional payment methods are being supplemented—and in some cases, replaced—by alternative options such as digital wallets, BNPL instant credit services like the Coachella example above, and cryptocurrencies. Many of us have gotten used to paying with our phones or smartwatches, rarely digging around in our wallets for the plastic that reigned supreme for so long. Still, while a significant portion of consumers express interest in exploring these new payment avenues, many remain hesitant due to concerns about security and understanding how to use these technologies. Here, a proactive and relevant messaging strategy can be a solution.

The role of cryptocurrency in payments

Cryptocurrency continues to challenge traditional financial systems, offering new ways to pay, invest, and store value. According to the 2025 Motley Fool Cryptocurrency Investor Trends Survey, consumer sentiment is divided: half of respondents are optimistic about crypto’s future performance, but 84% of those who’ve never owned it say they’re unlikely to buy this year. For many, the hesitation stems from a lack of understanding and ongoing concerns around safety, signaling that crypto still has work to do in earning the same level of trust as more established payment methods.

For payments brands, this represents both a hurdle and a big opportunity. Crypto is still new territory for many consumers, and winning them over will require brands to lead with education, personalized messaging, and simple, secure experiences. However, once consumers do engage in crypto, the loyalty potential is real—86% of current crypto holders say they’d be open to using a credit card with crypto rewards, suggesting strong enthusiasm among believers. The takeaway? A thoughtful, well-designed onboarding experience to demystify consumers’ options can be the key to unlocking long-term engagement with emerging financial products.

Building trust in a complex environment

In financial services, trust isn’t a bonus—it’s the baseline. With people’s money, homes, and futures at stake, brands can’t afford missteps, especially as scams and fraud become more sophisticated. In 2024, the FTC reported $12.5 billion in consumer fraud losses, a 25% jump from the previous year. The concern is real: 37% of consumers say they’re “highly concerned” about credit card fraud, according to PYMNTS.com.

Today, it’s not enough to simply flag potential fraud—brands need to help prevent it. Personalizing your messaging strategy to proactively inform customers who may be vulnerable doesn’t just build trust by helping people avoid hardship, it also reduces call-center strain and negative brand sentiment.

Connecting ecosystems for seamless experiences

To thrive in the evolving payments landscape, brands must break down silos and connect their ecosystems. This means integrating various payment methods—traditional and alternative—into a cohesive experience that meets customers where they are. By segmenting users based on their actual behavior and preferences, payments brands can create more effective relationship-building strategies. It's not just giving customers what they want, it's inviting them to engage with the brand in ways they might not even know about.

Fostering habitual usage is crucial for top of wallet status, and that only happens when financial services brands are showing up at meaningful moments in customers’ lives—such as when they travel, when they dine, or when they actually have questions. Adding value in these spaces and delivering contextually relevant messages through their preferred channels helps brands enhance their value proposition, demonstrating that they can and will show up for customers and reward them for continued usage.

Successful payments brands leverage all the customer data they can to notify them of the most relevant offers and features. Special offers and loyalty rewards embody the experience consumers want; surfacing them is critical to unlocking additional feature adoption, but that can only happen when consumers’ data is activated across the entire messaging strategy.

Embracing the future of payments

As we look toward the future of payments, it’s clear that the industry is at a pivotal moment. Brands that prioritize customer intent, leverage data for personalization, and create cohesive ecosystems will be well-positioned to succeed. By embracing innovation—whether through cryptocurrencies, alternative payment methods, or enhanced security measures—payments brands can navigate the complexities of the market and drive sustainable growth.

As consumer preferences continue to evolve, the question is not whether to embrace change but how quickly brands can implement these strategies to stay ahead of the curve. In this dynamic landscape, the key to success lies in building trust, enhancing engagement, and delivering exceptional customer experiences.