"As Legislation Evolves, Businesses Need a Firm Understanding of Secure Payment Options"
According to PCI Pal, despite the constant evolution of the financial landscape, consumers still want a smooth and secure payment journey above all else. Alessandro Dalla Volta, VP of Product at PCI Pal, says new technology and payment methods will be at the forefront of the industry in 2023. The payments landscape is expected to expand and evolve in the coming year, with customer service as a top priority for businesses and consumers open to new options. The proposed American Data Protection & Privacy Act (ADPPA) legislation is on the horizon, and the countdown to implementing PCI DSS version 4.0 continues. In regard to payment security in the future, the emphasis should be on improving existing measures in response to changing consumer and business landscapes. Companies in 2023 will need to understand secure payment methods and be prepared to pivot as the legislative landscape evolves over the next 12 months. The top payments trends and predictions for 2023 include the adoption of the latest open banking Application Programming Interfaces (APIs), increased use of Artificial Intelligence (AI), and more. This article continues to discuss the need for businesses to understand secure payment options as legislation changes and the top payments trends and predictions for 2023.