Payment technology has always needed to be relatively up to date as without it, customers are likely to abandon one organisation and go somewhere where they can have a better checkout experience. Up until now, operational necessity has driven the adoption of payment technology, however, new findings from PXP, an omnichannel global payment platform, reveal that times are changing as merchants are starting to view it as a strategic growth driver.
The findings were published in a new PXP report in collaboration with the polling firm, Censuswide, called The Future of Business Payments 2025 Technology Transformation. It surveyed 250 payment decision-makers at merchants and retailers across the UK and US in January 2025 and found that the rapid increase in digitisation has reshaped customer expectations and as a result, organisations must also change their attitudes or risk being left behind.
Payment technology has evolved from a back-office utility to an all-encompassing strategic differentiator across virtually all operational aspects. In fact, 64 per cent of merchants revealed that they want to invest in payment technology due to the growth potential it brings.
According to the report, 36 per cent of businesses rank enhanced security and fraud prevention as their top priority when selecting payment partners. Meanwhile, 28 per cent cite system and payment platform reliability during high-traffic and peak sales periods as a make-or-break factor for their operations. Lastly, 17 per cent prioritise growth and scalability in their payment technology decisions, highlighting how payment infrastructure has become fundamental to business expansion strategies.
PXP also found that 51 per cent of merchants are actively leveraging payment systems to create new revenue streams, monetise payment capabilities, and increase their appeal to customers. The paytech further found that 49 per cent of companies are exploring new payment methods like digital wallets, account-to-account payments, and BNPL to drive market penetration, particularly in cross-border commerce.
Differing technology needs
PXP’s research also examined the differing payment technology needs of merchants in the online-only eCommerce, bricks-and-mortar, and omnichannel segments, with key findings including:
- Thirty-four per cent are expanding their payment method offerings, while 20 per cent are actively investing in international payment capabilities.
- Thirty-seven per cent of traditional bricks-and-mortar businesses cite system stability as a critical factor, while 30 per cent are prioritising having one unified payment platform across all channels.
- Thirty-five per cent of omnichannel/hybrid businesses a focus on protecting customer transactions across all channels, and 29 per cent prioritise reliability and resilience during peak transaction periods when selecting a payment provider.
These distinctions between different merchant segments highlight how payment technology strategies must be tailored to specific business models while maintaining а focus on core objectives such as data integration, reliability, and customer experience.
“How do I make the most of my payment tech?”
Kamran Hedjri, group CEO of PXP comments: “PXP’s exclusive research reveals that organisations across a range of sectors are no longer asking whether to invest in payment technology, but rather how to leverage it for maximum competitive advantage and best implementation results.
“Today’s merchants are discovering that modern payment systems can do far more than just process transactions – they can actively drive business expansion, foster innovation, and create much deeper and more intuitive connections with their customers.
“Our findings paint a clear picture: payment technology has moved from the back office to the boardroom, from a mere business function to a key strategic consideration in business growth planning. This shift represents a remarkable evolution in thinking, and payment providers must align with it to help merchants meet their customers’ expectations wherever they are.
“While organisations may differ in size, sector, and purpose, our survey reveals that what merchants need most from payment technology are security and trust, operational resilience, and scalability.”
PXP’s new brand
As part of its next phase of growth, PXP unveils a new brand identity that reflects its mission to redefine commerce technology. The new identity embodies PXP’s commitment to unifying global payments through a single integration, creating a commerce ecosystem that makes business simpler, better, and more connected.
