Payment technology has evolved from a simple transactional tool to a key driver of growth. According to recent research by PXP, a global omnichannel payment platform, there’s a noticeable shift in how businesses perceive payment systems. Instead of viewing them as a mere operational requirement, companies now recognize payment technology as a strategic asset that can open up new revenue opportunities and enhance customer experiences.
The report, titled The Future of Business Payments 2025: Technology Transformation, was created in collaboration with the polling firm Censuswide. It surveyed 250 payment decision-makers in both the UK and the US in January 2025.
What it uncovered is a shift in mindset among merchants and retailers who are now embracing payment technology as a key component in their business strategy, particularly in response to growing customer expectations for seamless, secure transactions.
Payment Technology as a Key Growth Driver
Historically, payment systems were viewed as a mere operational necessity. Businesses implemented these technologies to stay functional and competitive. However, according to PXP’s findings, that perspective is evolving.
Today, 64% of merchants recognize that investing in payment technology offers significant growth potential. The rapid digital transformation across industries is driving businesses to reframe their understanding of payment systems — they are no longer just tools, but strategic assets.
This shift is largely due to rising customer expectations. As consumers demand quicker, more convenient, and more secure payment options, businesses are feeling the pressure to adapt. Failing to keep up can result in lost sales and a diminished brand reputation.
In fact, the study found that 36% of businesses prioritize enhanced security and fraud prevention when selecting payment partners, underscoring the need to protect customer data and build trust.
Key Considerations for Choosing Payment Solutions
When it comes to selecting payment technology, businesses are focused on several key factors. For 28% of merchants, system reliability during peak sales periods, such as Black Friday or the holiday season, is a make-or-break factor. Ensuring smooth and uninterrupted transactions during high-traffic moments is critical for maintaining customer satisfaction and avoiding potential revenue losses.
Additionally, 17% of merchants prioritize scalability and growth when evaluating payment technology. The ability to scale systems as a business expands is crucial to maintaining seamless operations across diverse markets and geographies. This growing need for scalability has led to increased investment in versatile payment solutions that can easily integrate with different sales channels.
Interestingly, 51% of businesses are actively leveraging payment systems not only to streamline transactions but also to explore new revenue streams. By monetizing payment capabilities and offering new payment methods like digital wallets and Buy Now, Pay Later (BNPL) services, companies can increase their appeal to customers and stay competitive in the digital economy.
Differentiated Payment Needs Across Business Models
The study also highlights how different business models have unique payment technology requirements. Companies operating in eCommerce, brick-and-mortar retail, and omnichannel businesses each face distinct challenges and priorities.
- eCommerce-only businesses: Thirty-four percent are expanding their payment method offerings, while 20% are focusing on enhancing international payment capabilities to tap into global markets.
- Bricks-and-mortar businesses: System stability is a critical factor for 37% of these businesses. In addition, 30% are investing in solutions that allow them to offer a unified payment platform across all sales channels, integrating both in-store and online transactions seamlessly.
- Omnichannel businesses: These hybrid companies are particularly focused on protecting customer transactions across all platforms. Thirty-five percent prioritize security in cross-channel interactions, while 29% place significant emphasis on system reliability during peak transaction periods.
These differences underscore the need for tailored payment solutions based on business models. While core objectives such as security, system integration, and scalability remain constant, the strategies for achieving them must be adapted to suit the unique needs of each business type.
Conclusion
The findings from PXP’s report are clear: payment technology is no longer just about keeping operations running smoothly. It has become a vital tool for driving business growth and differentiation. As more companies explore innovative payment methods and invest in cutting-edge solutions, those who fail to adapt risk being left behind.
Whether you’re a traditional brick-and-mortar retailer or an omnichannel business looking to scale, payment technology can play a crucial role in your strategy for success.
For merchants looking to stay competitive, the time to rethink your payment technology approach is now. Embrace the opportunities it presents to unlock new revenue streams, enhance customer satisfaction, and prepare your business for the future of digital commerce.
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