Is Payment Technology a Strategic Driver for Merchants’ Growth?

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As merchants in the UK and US continue to navigate the rapidly changing digital landscape, they are increasingly recognizing the critical role that payment technology plays in driving their growth and success. A recent survey conducted by PXP, an omnichannel global payment platform, in collaboration with Censuswide in January 2025, revealed that 64% of merchants view payment technology not just as an operational necessity but as a strategic growth driver. This shift highlights the growing importance of digital payment transformation in an era where digital acceleration is reshaping customer expectations and business efficiencies.

Digital Payments for Enhanced Business Operations

The survey indicates that payment technology is essential for improving both back-end operations and front-end customer interactions. For back-end operations, advancements in payment technology offer enhanced reporting, data analysis, and business intelligence capabilities. On the front end, these technologies boost customer appeal in a competitive market by creating smoother, more seamless interactions. This dual benefit underscores the importance of investing in advanced payment systems.

Security and Reliability

Survey findings also emphasize the importance of security and reliability in payment systems. Currently, 36% of businesses prioritize enhanced security and fraud prevention, reflecting growing concerns about cyber threats. Additionally, 28% of surveyed merchants highlight the need for reliable payment systems, especially during high-traffic and peak periods. Meanwhile, 17% of businesses focus on scalability and growth when making decisions regarding payment technology, underscoring how crucial these systems are for long-term expansion.

New Revenue Streams and Payment Methods

Beyond operational improvements, 51% of merchants are leveraging payment systems to create new revenue streams and increase customer appeal. This has led many to explore innovative payment methods such as digital wallets and Buy Now Pay Later (BNPL) options to drive market penetration, particularly in cross-border commerce. For example, some merchants are expanding their payment method offerings, with 34% focusing on adding new options and 20% investing in international payment capabilities.

Diverse Needs of Merchant Segments

Different types of merchants have varying needs when it comes to payment technology. Traditional bricks-and-mortar businesses often prioritize system stability, with 37% citing this as their primary concern, and 30% valuing a unified payment platform across all channels. Online-only eCommerce merchants and omnichannel businesses, on the other hand, are more focused on transaction protection and reliability across multiple channels. These distinct needs highlight the importance of tailored payment technology strategies that address each segment’s specific objectives, such as data integration, reliability, and customer experience.

The Transformative Impact of Modern Payment Systems

Kamran Hedjri, Group CEO of PXP, emphasizes the transformative impact of modern payment systems on business expansion and innovation. According to Hedjri, advanced payment technologies facilitate deeper connections with customers and foster operational resilience and scalability. PXP has recently rebranded to reflect its mission of redefining commerce technology, focusing on unifying global payments through a single integration and simplifying the business ecosystem with an AI-powered, future-proof platform.

Future Directions and Considerations

As merchants in the UK and US navigate the evolving digital landscape, they’re increasingly recognizing the critical role payment technology plays in their growth and success. A January 2025 survey by PXP, an omnichannel global payment platform, in conjunction with Censuswide, found that 64% of merchants see payment technology as more than just an operational necessity—it’s a strategic driver of growth. This finding underscores the significance of digital payment transformation in an era marked by rapid digital acceleration. Customer expectations are shifting, and businesses must adapt to keep up with these changing demands. Enhanced payment solutions not only streamline transactions but also contribute to improved business efficiencies. As the landscape continues to evolve, integrating advanced payment technologies will be crucial for merchants aiming to stay competitive. This trend highlights the fundamental impact of payment technology on the future trajectory of retail and commerce, emphasizing the need for businesses to prioritize digital transformation in payment systems.

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