By Papuna Lezhava, CEO and Co-founder of KEEPZ
The way we pay is changing, rapidly. For the last two decades, credit cards reigned supreme, sitting comfortably in our wallets and dominating the payments landscape. However, multiple new payment options, such as mobile wallets, QR codes, payment links, and even cryptocurrencies, are changing the way we do business. The payments industry is undergoing a quiet revolution; one that’s not about reinventing money itself, but about removing the friction from how it moves.
The End of App Fatigue
Let’s face it – we’re all tired of being asked to download yet another app. Our phones are already packed with tools for everything from food delivery to fitness tracking, and most of them just sit there unused. So when people are forced to sign up or install something new just to pay, many won’t bother; they’ll drop off before they even get to the checkout.
That’s why one of the most impactful trends in the payments space today is app-free, registration-free transactions. Whether it’s scanning a QR code on a receipt, tapping a payment link in a text, or paying directly through a website without creating an account, these simple, seamless experiences are becoming the new normal, especially in industries like hospitality and e-commerce, where speed and simplicity can make or break a sale.
Flexibility Is No Longer a Perk – It’s an Expectation
Moving away from credit cards is not about abandoning legacy systems altogether – it just means giving people more choices. Whether it’s mobile wallets, direct bank transfers, or even crypto, people want to pay in a way that works for them. And if they can’t? They’re likely to walk away.
We’re already seeing this shift in consumer behaviour. According to a study by eMarketer (2024), in the UK, more than half (53%) of consumers have recently purchased products online using PayPal, and 30% have used Apple Pay – clear signs that digital wallets are becoming a go-to option, not just a backup.
It’s not just about keeping customers happy – businesses benefit too. Payment platforms that support a wide range of methods within a single infrastructure can reduce costs, simplify backend operations, and reach a broader audience. In some regions, especially in emerging markets, mobile-first payments or crypto can be far more accessible than traditional banking systems.
Crypto’s Role in Payments
Cryptocurrency is fast becoming a practical tool for everyday transactions. Take Georgia, for example, where the government recently began accepting tax payments via digital assets such as Bitcoin, Ethereum, and USDT. This initiative, powered by Keepz, marked Georgia as one of the first countries in the world to enable tax payments via digital currency exchange. Stablecoin (including USDT) has already surpassed Visa and Mastercard in transaction volumes (World Economic Forum).
Bridging the payment gap – AI and Infrastructure
As these alternative methods gain traction, one of the biggest challenges is fragmentation. Merchants, consumers, and platforms are navigating a maze of payment options, standards, and regulations, especially when it comes to cross-border transactions or blending traditional and decentralized finance. This is where interoperability matters. To scale these kinds of innovations, you need infrastructure that can effortlessly link digital wallets, traditional bank rails, and blockchain networks.
At the same time, AI is stepping in to make the system smarter. AI-driven platforms can process payment flows in real-time, choose the most efficient paths, catch fraud before it happens, and even suggest alternatives if a transaction is about to fail. In a world where we all expect instant, secure, and intelligent experiences, these are becoming the new standards – anything less simply won’t cut it.
Looking Ahead
Alternative payment methods are no longer just “alternatives” – they’re becoming the default in many parts of the world. Whether in digital-first economies or regions where legacy systems fall short, the momentum is clear.
To keep up, merchants and financial institutions need to go beyond just rolling out new tech. A fundamental mindset shift is required, one that prioritizes user experience, embraces flexibility and adapts to rapid change. Payments are no longer a siloed function; they’re embedded, intelligent, and decentralized.
As the sector evolves, so too will the definition of what a “payment provider” looks like. The most successful players will be those who focus not just on processing transactions, but on building trust, fostering interoperability, and delivering seamless experiences – whatever the payment method.
