Ecommerce Trends: How Will The Payment Industry Be Impacted?

Written by

James Davis

Written by James Davis

Senior Technical Writer at United Thinkers

Author of the Paylosophy blog, a veteran writer, and a stock analyst with extensive knowledge and experience in the financial services industry that allows me to cover the latest payment industry news, developments, and insights. Read more

Reviewed by

Katherine Pensatori

Reviewed by Katherine Pensatori

Product Specialist at United Thinkers

Product specialist with more than 10 years of experience in the Payment Processing Industry. I help payment facilitators and PSPs solve their various payment processing issues. Read more

Ecommerce continues to evolve, and 2017 is likely to be an essential year for ecommerce and the payment industry. While we can’t offer an exhaustive list of everything that’s likely to change this year, we can offer some comments on ecommerce trends 2017 is likely to see along with some ideas about how things will change for the payment industry in 2017.

Chatbots will operate

Google Allo, Facebook, WhatsApp, Twitter, and other services are now offering bots that can help with booking, shopping, and customer service. Consumers will need to become familiar with and comfortable with interacting with talking machines. Sometimes called conversational eCommerce, this trend brings a little naturalness back to the mechanical online shopping experience.

Artificial intelligence will integrate people’s lives

In fact, many people already use AI devices like Amazon’s Alexa and Apple’s Siri every day. There is Google’s Assistant and Microsoft’s Cortana too. Increasingly, we expect people to order using an AI device. All e-commerce brands need to keep a watchful eye on how changes in human interaction with artificial intelligence impact their industries.

Mobile gets even bigger

Mobile traffic has already overtaken desktop traffic on the web as a whole. Also, mobile payments are becoming increasingly popular too. Increasing acceptance of mobile payments by a consumer is among the trends we expect in the payment industry in 2017. Streamlined paying and tying mobile payments to loyalty programs is also a wave of the future that’s arriving in 2017.

Personalization and customization become even more essential

Customization of content, products, and ads will expand the market in 2017. That means more collection of data in most cases. If there are any eCommerce trends in 2017 is certain to see, one is certainly an increase in the use of data to personalize the Internet experience – more than ever before.

We also believe same-day delivery and an increase in selling through social media and other social platforms will happen in 2017 too.

How can you be part of future trends? Why not contact us to learn about how the UniPay payment gateway designed in the modern age to meet the needs of forward-looking companies?

At UniPay, we’re here for you when you’re ready to face the future of the eCommerce and payments industries.