2022 was another turbulent year. The Covid pandemic continued to simmer, the Russian-Ukrainian war broke out, the energy and commodity crisis intensified, inflation skyrocketed, and consumer spending plummeted. The consequences of all this — and more — were felt in online commerce: the boom spurred by the lockdowns was over.

And yet, this year has taught us a lot, perhaps even more than we think. The difficult times have made e-commerce more resilient: companies have become more flexible to stay competitive. And the future of payments is definitely digital.

In this article, the Swiss online payment service provider Payrexx explains current and future trends that will shape and influence digital payments in Switzerland in 2023. Online Comerciante should keep an eye on these.

Trend 1: Mobile Payment and Wallets become the new standard

Paying via smartphone is becoming increasingly popular, and in 2023 most customers will make their payments using mobile payment applications such as Apple Pay, Google Pay, Paypal (mainly e-commerce in Switzerland), TWINT and Samsung Pay.

These applications offer a convenient and secure way to make payments and are becoming increasingly important, especially in the field of e-commerce. By using NFC technology (Near Field Communication, abbreviated as NFC, is a short-range wireless technology that allows devices to communicate when they are about ten centimetres apart) and QR codes, customers can pay quickly and easily contactless via smartphone or wearables. For businesses, it will be essential to offer these payment options.

Trend 2: Growth of QR code-based payments

In recent years, QR code-based payments have become increasingly established, and in 2023 they will play an important role in digital payments.

First of all, it is important to understand how QR code-based payments work. QR codes are two-dimensional barcodes that can be scanned using a smartphone camera. Once the QR code has been scanned, the user is automatically redirected to a payment page where they can complete the payment. This simple and convenient payment method offers many advantages for both customers and businesses. For customers, it means they don't need a special payment card or hardware to make a payment. They can simply use their smartphone to scan the QR code and complete the payment. For businesses, the growth of QR code-based payments means they can offer their clientele a quick and convenient payment method without having to install special hardware or payment terminals. This can be particularly beneficial for smaller businesses that cannot afford the costs of installing payment terminals.

An example of the growth of QR code-based payments is the Chinese online Comerciante Alibaba, which enables its customers to have a simple and convenient payment system using QR codes. In Switzerland, QR codes are mainly known in connection with TWINT and the new Swiss QR bill. Payrexx has developed a simple QR code solution for SMEs that supports not only TWINT but all payment methods relevant in Switzerland.

Trend 3: Increase in