Today’s new-age world is fast-moving and demands that all services are in real-time. This includes a seamless experience for any payment-related activity across any transaction, whether hailing a cab or purchasing groceries. In the absence of such an experience, customers will likely move to merchants who are providing the same. In a world where experience is everything, financial institutions are rapidly embracing Embedded Payments (EP) — the provision to seamlessly make a simple one-click/one-touch payment over a digital platform — for the ultimate human-centric experience and customer satisfaction. EPs may have emerged recently but are quickly becoming ubiquitous. Embedded Payments are a subset of the larger universe of Embedded Finance (EF). In our previous paper, we explored how embedded finance is changing the future of financial services. In this paper, we take a deep dive into the Embedded Payments phenomenon. From entities and operations flow to the API-drive integration ecosystem, we explore the facets that enable EP transactions. We also examine why merchants across industries must adopt embedded payments to drive sales, stay relevant, and, most importantly, o er a seamless customer experience.
Embedded Payments Offering a Human-Centric Experience To Customers
