Security is still top of the agenda for 2023. On the horizon is the proposed American Data Protection & Privacy Act (ADPPA) legislation currently being discussed and the countdown to implementing version 4.0 of PCI DSS continues in earnest in 2023.

When it comes to the future of payment security, the focus should be on improving existing measures based on the changing consumer and business landscapes. In 2023, companies will need to have a firm understanding of secure payment methods to use and also be ready to pivot as the legislation landscape evolves in the next 12 months.

Top Payments Trends & Predictions for 2023:

Adoption of the latest open banking APIs

More merchants will look to adopt the latest open banking APIs which support variable recurring payments, in addition to one-off payments. This shift could see the decline in direct debits as they gradually lose market share as a payment method.

The convergence of payments and lending will continue

Specifically with the predicted future demand for Buy Now, Pay Later (BNPL) products, especially split payment – zero interest solutions gaining more traction – not only amongst Millennials and Gen Z but potentially within the Gen X and Baby Boomers demographics due to the current cost of living pressures.

Emergence of Omnichannel payments within the contact centre

By implementing an omnichannel contact centre payment strategy, companies can personalise the customer experience, allowing consumers to pay via multiple channels using multi-payment methods.

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Focusing on the Now, with a view on the future

Businesses should be looking to identify and solve existing threats while also building a long-term security strategy that will last. Following the remote/hybrid work shift that was escalated by the pandemic, it’s important to continuously monitor current security measures and modify where and when needed.

AI becomes reality

Artificial intelligence will play an increasingly important role in enhancing the performance of the contact centre. More and more CCaaS platforms are deploying real time speech-to-text sentiment analysis products, based on machine learning. Providing real time insight and training benefits.

Know What Payment Methods to Trust

There are payment methods that hackers look for. For example, organisations that concentrate on taking card payments will still be the main targeted group for attackers. Instead of focusing on one method, look to adopt a multi payment strategy that meets consumers where they are and provides payment options to allow for choice and additional security benefits.


With PCI DSS 4.0 officially coming into effect in March 2024, companies should be using 2023 to set themselves up to meet the new requirements and also future-proof their security strategies while remaining committed to offering the best payment CX.

As companies look towards a new year, it’s a great time to reassess payment processes, security measures and technology to ensure they’re meeting compliance regulations while also keeping the needs of customers top of mind.

With new payment methods available that prioritise both safety and customer experience, companies have the opportunity to adopt a multi-channel, multi-payment approach that is beneficial for all customers and keeps them safe during their buying journey.

Geoff Forsyth, Chief Information Security Officer at PCI Pal