Writen by Leidiane Ongaratto, in 02/03/2023

3 minutes of reading

New payment models

How can new payment models help the consumer?


There is no doubt that new forms of payment have transformed and continue to cause changes in society. With the Covid pandemic, which began in 2020, online purchases increased exponentially, and as a result, changes that were already planned were accelerated. With these new opportunities, innovations emerged, such as Pix, in South America; The Buy Now Pay in North America; and Open Banking, where Europe is the pioneer and where it is at its most advanced stage.

Given this new scenario, with various payment models, there are three more critical points that should be carefully analyzed. The first of these is Seamless, which is the famous “one click” – ensuring a dynamic and fast checkout. In addition, it is important to ensure customization and adaptation for the user, while offering safety, protection and reputation. The new payment models, and how these innovations are transforming, facilitating and building bases for other Payments changes, was a prominent subject during the world’s largest connectivity event, Mobile World Congress (MWC), which takes place in Barcelona.

Shahrokh Moinian, head of Middle East and Africa (EMEA) at JPMorgan, a world leading financial service institution, said payments are messages and tell the story of how that consumer wants to buy, and therefore, you need to analyze the market to get it Speak the same language as the population. He also said that it is essential that payments be part of the strategy of all businesses that want to grow in the coming years.

However, Jeff Delong – Director of Vertical Growth for WorldPay, a payment processing company, stressed that security needs to be a point of analysis and attention worldwide. He explained that it is necessary to maintain a balance between not putting too much barriers and hindering the user experience, but at the same time, not being too weak and running a higher risk of fraud.

Nizar Al Altwaijri, CEO at STC Pay, integrated and secure digital wallet, brought a different view: the payment market will only succeed when it can help customers understand and better analyze their finances. His words align a lot with what we have debated, ESG – it is important to think about social aspects, and when we talk about financial services, this seems even more relevant in countries like Brazil.

The new payment models have come to permanently transform society, however, it will be no use offering the best Seamless journey if there is no genuine concern in how to help consumers buy and use these payment means conscientiously. The payment industry needs to ponder and increasingly seek solutions that do not go up against people’s financial life.


This article was originally published in Meio & Mensagem.

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