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i3 Merchant’s Top Digital Payment Trends for Retailers

Payments have become a focal point for merchants and consumers alike over the past three years. Digital payment adoption and usage ticked up during the pandemic and retailers were faced with swiftly adapting to these new payment practices to stay afloat amid the turmoil. Many other merchants were able to adjust to these new practices and flourish.

The largest impact can be seen in the retail market. Even as consumers have returned to in-person shopping, they aren’t ready to give up the convenience of digital payments. Instead, consumers are opting for digital payments over traditional cash and credit card options and it’s a trend that will continue to grow in the coming year.

Four Payment Trends to Watch in 2023 

1. Online and Offline Payments Overlap

Consumers now show a preference for frictionless payment methods. These methods reduce the steps in the buying process and include mobile and digital wallets, one-click payments, auto-renewing subscriptions, and in-app payments.

Shoppers can now order ahead in-app and pick up curbside. This option of browsing online and purchasing something that can be picked up and worn within the hour allows consumers to pay how they want and still enjoy the immediacy of the brick-and-mortar experience.

2. Digital Wallets are Mainstream (and Expected)

Apple Pay, Google Pay, Shop Pay, and other digital wallet options are now a common fixture alongside other traditional payment options at the checkout counter. If merchants don’t give customers the option to use a digital wallet, it limits the ways consumers can pay a business. Paying by phone has become a convenient way for shoppers to make purchases in an instant, whether they’re in-store or buying online.

3. Payment Apps are the New Lifestyle Apps

Consumers now rely on their phones for pretty much everything and as a result apps act as a portal to a wide array of different virtual products and services. These apps are used by shoppers every day because they offer a seamless, integrated, and efficient experience.

China’s popular WeChat app is a prime example. It started off as a simple messaging app, but now offers a collection of services including taxi rides, virtual wallets, hotel reservations, games, and even medical consultations.

4. QR Codes are Commonplace

QR codes were not utilized as much prior to the pandemic but came back with a vengeance when brands and venues were trying to limit the amount of cross-contamination through money, tickets, and receipts.

Now QR codes are prevalent in a number of settings, including restaurants, where diners can scan a code to view the menu, place an order, and pay for their meal without waiting for a server, and physical stores, where shoppers can unlock discounts and extra product lines by simply scanning a QR code.

This simple tool is easy for merchants and consumers alike and won’t be going anywhere, anytime soon.


For more than 20 years i3 Merchant Solutions has helped businesses get paid faster, safer and smarter – often saving merchants an average of 30-40% in the process.

i3 Merchant Solutions specializes in electronic payment processing for the Chattanooga Area Chamber and its members, offering exclusive rates, proven cost-savings and dedicated support.

Learn more about member-exclusive benefits, here.

Learn more about i3Merchant Solutions, here.

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