The world of finance is changing right in front of our eyes, and the main driving factor for all the advancements that we see in this field is technology.
When you think about it, we’ve already changed a lot of old habits as payments advanced into the online space, they are contactless, and cross-border transactions are cheaper and faster. Remember when we used to carry cash around? Well, those days are gone, and now most businesses in advanced countries don’t even accept cash.
However, the advancements in this industry are showing no signs of slowing down, especially with the rise of artificial intelligence, which eventually opened up new financial opportunities for businesses and individuals.
This brings us to the next question, what can we expect in 2025? What’s the biggest trend that will change the way we handle money?
The Rise of Super Apps
Although mobile banking isn’t new, for years we had to rely on our official banking apps, and let’s be honest, they were kind of slow in terms of advancements. But that’s understandable. They are financial institutions and the whole mobile trend is also new to them.
But recently we’ve seen huge advancements in third-party super apps, that can improve how you handle your finances. We are talking about apps packed with very useful features.
Up until now, we’ve used the official banking app for checking out balances, but these new apps are much more powerful than that. They can provide AI financial advice on how to handle your money the best way, they can be connected with third-party services for better tracking of your spending, and they can even sync to tax apps, automatically calculating your taxes.
On top of that, these apps have allowed us to make seamless cross-border transactions, and in some cases, they are instant, which was unimaginable a few years ago.
But this year, we expect to see super apps. What are super apps?
Well, they are basically all-in-one platforms where you can order food, check out your financial balance, dive into online shopping, organize your calendar, chat with friends, and many other things.
Elon Musk has been working on this for quite a while and his goal is to transform the X app into a super app, similar to WeChat from China. WeChat is quite a powerful app, where you can pay your rent, order dinner, book a doctor’s appointment, or send money to friends all from one place.
This will make the process easier and more convenient as people won’t really need 10 apps for different things.
Cross-Border Payments
Sending money abroad used to be a nightmare—high fees, slow processing times, and endless paperwork. But by 2025, cross-border payments will be as easy as sending a text.
Companies like Genome are already revolutionizing cross-border payments and this trend won’t stop here. If you want to read more about their services, check out their website.
Although cross-border transactions are now cheaper and faster, banks and financial platforms will continue to improve their systems, and there are talks that blockchain and AI will be taking it to the next level. Transactions that used to take days will happen in seconds, and fees will drop significantly.
Biometric Authentication
Forgot your PIN? No problem. By 2025, your face, fingerprint, or even your voice will be your wallet’s best friend. Biometric authentication is becoming the norm, and for good reason—it’s secure, fast, and let’s be honest, way cooler than typing in a password.
Apple Pay and Google Wallet already use fingerprint and facial recognition, but the future is even wilder. Imagine paying for your morning coffee with a quick selfie or a voice command. “Hey Siri, pay for my latte.” Done.
But wait: What if someone tries to trick the system with a photo of your face? Don’t worry—advanced AI can tell the difference between a real face and a fake one.
Cryptocurrency and Blockchain
Ah, crypto. The Wild West of digital payments. Love it or hate it, cryptocurrencies like Bitcoin and Ethereum are becoming more mainstream. By 2025, we’ll see more businesses accepting crypto as a legitimate payment method.
But here’s the kicker: blockchain technology (the backbone of crypto) is also transforming traditional payment systems. It’s faster, more transparent, and cuts out middlemen like banks. For example, Ripple’s blockchain-based payment system can process transactions in seconds, compared to days for traditional cross-border payments.
Buy Now, Pay Later (BNPL)
We’ve already seen this service from Apple and in 2025 we expect more companies to jump on this trend.
The idea is simple, such businesses are offering their customers to purchase goods without even paying them upfront. Instead, they will handle the cost of the product, and you can pay monthly and, in some cases, with 0% interest, which is wild!
The BNPL model is gaining traction, allowing consumers to make purchases and pay in installments without the burden of interest rates. This approach is especially popular among younger generations who prefer alternatives to traditional credit cards.
Your Phone Is Your Wallet
If you are in the physical wallet market, I think it is time to bail out. Why? Well, soon, nobody would need a wallet. They have all their credit cards on their phone, which is not only safer but also more convenient.
This year, we will see even more options for mobile phone wallets, which will unlock new opportunities.
AI-Powered Personalization
Artificial intelligence is making payment platforms smarter and more personalized. Imagine this: your payment app knows your spending habits so well that it can predict when you’re about to run out of coffee and suggests a nearby café with a discount.
AI also helps detect fraud in real time. If your card is used in two different countries within an hour, the system flags it immediately. No more awkward calls from your bank asking if you really bought that $5,000 rug in Morocco.
So, it is going to be a wild 2025, but in a good way. All of these financial advancements are designed to make the process more convenient, faster, and cheaper. Plus, this will open up the world, which is a very important thing in today’s digital age.
