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The five 2022 commerce and payment trends businesses need to know to thrive this year
Commerce continues to evolve, building off the flight-to-digital triggered by the pandemic in 2020. Consumers have since embraced new shopping and payment behaviors, and the digital-first economy has solidified as the new normal for businesses and consumers.
Based on interviews with payments experts and survey data collected from businesses and issuers around the world, our 2022 Commerce and Payment Trends Report details the five global trends that will have the most significant impact on commerce and recommendations for embracing them for success this year.
Here's our 2022 commerce and payment trends summary, which highlights the key trends this year.
Customer expectations are changing, and businesses are adapting
After two years of shifting habits to working and shopping largely online, consumers are now more comfortable navigating the world through a digital lens. Even as the world anticipates a post-pandemic future, the habits created over the last two years are here to stay. To meet these new customer expectations, businesses will need to invest in refining their digital experiences to meet customer expectations at every point in their journey, beginning with payments.
Read the full trend on changing customer expectations in a digital-first economy in our 2022 Commerce and Payment Trends Report.
Buy now, pay later becomes big business
Today, paying for purchases with tailored, flexible buy now, pay later plans–for even small ticket items–is poised to become one of the fastest-growing payment trends in 2022. Buy now, pay later (BNPL) is simple: it allows the customer to purchase an item now and then pay it off in installments over time. The recent surge in popularity can be attributed to several factors, including digitization, rising merchant adoption, loyal youth consumers, and an expanding set of fintechs targeting the point-of-sale.
Read the full trend on buy now, pay later in our 2022 Commerce and Payment Trends Report.
The acceleration of connected commerce
Businesses are starting to think of commerce more holistically as a means to keep customers engaged throughout the buying cycle–from awareness all the way to purchase. Connecting commerce solutions like loyalty programs, online appointments, online check-in, automated communications, marketing, and more can help businesses improve the customer experience. A connected commerce experience will help businesses attract new customers, create additional customer value, grow their brands, and determine the next best upsell or cross-sell offer to drive additional revenue.
Businesses should look closely at those that remained resilient during the pandemic to see the value of connected commerce. Those businesses that came out in a better place were the ones that created a digital-first ecosystem."
Gilbert Bailey, SVP, Global Head of Analytics and Customer Engagement Solutions at Global Payments2
Read the full trend on connected commerce in our 2022 Commerce and Payment Trends Report.
The digitization of B2B payments
With the recent move to a more remote workforce, businesses see that their employees need to manage their accounts receivable and payable functionality outside a physical office. Digitizing B2B payments, including accounts payable, accounts receivable, expense reimbursement, and employee-initiated spending, is the solution with significant benefits.
The digitization of B2B payments continues to grow. The tipping point–meaning a rapid acceleration away from check and manual payments–is poised to happen soon."
Gaylon Jowers, President at TSYS Issuer Solutions, SEVP at Global Payments3
Read the full trend on digitizing B2B payments in our 2022 Commerce and Payment Trends Report.
Attention to data privacy, end to end
Businesses must remain vigilant in all aspects of data protection, including ensuring data privacy, in 2022. While much of the attention in recent years has been geared toward reducing fraud in ecommerce environments, businesses must also ensure they have the correct data privacy policies, procedures, and protections in place, especially as technology and regulations globally evolve at a rapid clip.
Read the full trend on data and privacy in our 2022 Commerce and Payment Trends Report.
Download our 2022 Commerce and Payment Trends Report for more expert insights and analysis into these trends that will impact the way you sell and get paid in the coming year.
 The 2022 Commerce and Payment Trends Survey from Global Payments.
 Bailey, Gilbert. September 2021. Global Payments interview.
 Jowers, Gaylon. September 2021. Global Payments interview.
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