Embedded finance is revolutionizing the way consumers interact with financial services by integrating payment processes into non-bank apps and software. Alan Irwin of Global Payments highlights the surge in embedded payments, noting their role in enhancing customer experiences and driving financial inclusion. With embedded payments, consumers enjoy seamless transactions within their daily digital activities, reducing friction and abandonment rates in online shopping. The COVID-19 pandemic has accelerated this trend, with a significant shift towards digital platforms. Businesses are now leveraging embedded payments to streamline processes, utilize advanced data analytics, and foster customer loyalty by making financial transactions an effortless part of the user experience. The volume of embedded payments is expected to reach $6.5 trillion by 2025, signifying their growing influence in commerce and various industries.
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