2023 in Review: What Changed in Payments Processing

Blog 2022

As we look back on 2023 and the many advancements we experienced in the payment processing industry, there are a number of key milestones to note, especially pertaining to Payroc and our ability to address the needs of ISVs, ISOs, independent agents, and even merchants.

Let’s take a look.

The Shift to Omnicommerce Commerce

One of the biggest shifts we saw in 2023 was the solidification of omnicommerce and autonomous shopping. In the post-COVID world, consumers began traveling and purchasing in-person again. However, their shopping habits had changed. They expected a digital footprint that could be experienced online and when they walked into a business. The ability to pay in any way that’s convenient for them or start a payment on one channel and complete it on another has become essential.

Payroc Leverages Third-Party Relationships to Expand Channels

Payroc solidified and strengthened our relationships with third-party vendors, including point-of-sale systems, equipment manufacturers, and other technology companies. This has allowed us to position ourselves as an all-in-one payments acceptance platform, regardless of sales channel. We’ve invested in different verticals to accommodate virtually any type of payment or payments solution.

Here are some examples of our third-party partnerships:


KioWare is a kiosk system software that ISVs can use to fully develop and customize a kiosk app for virtually any type of client. In the same way that Payroc spares ISVs from having to be payments experts, KioWare saves ISVs from having to be kiosk experts. Instead, they need to know what their kiosk app should be able to do, and KioWare will help them do the work.

KioWare’s API is agnostic – in the same way that Payroc’s APIs are — making integrations with devices, payment gateways, and any other type of entity seamless. And KioWare’s partnership with Payroc provides more options than any other gateway — regardless of the size or footprint.

Ingenico Self Series

The Ingenico Self Series offers the latest technology, and the Ingenico Self/4000 accepts all payment types, including magstripe, EMV, and NFC. It also supports Windows and Android platforms and seamlessly integrates with any kiosk. The Ingenico Self/3000 accepts the same payment types and supports the same platforms, but it also offers a compact design for easy integration in indoor and outdoor kiosk environments.

ID Tech Series

ID Tech payment devices are perfect for environments where customization is a priority — something that ISVs do often for merchants. These devices are usually built-in installations instead of stand-alone like the Ingenico devices, so there’s less attention to how the devices look and more on how well they perform.

The ID Tech 3300 is perfect for arcade machines and kiosks, and the ID Tech VP6800 has a touchscreen digital display payment device that accepts all payment types, including magstripe, EMV, and NFC. The VP6800 also has an optional camera for enhanced security or barcode functionality.

Payroc’s partnerships with Ingenico and ID Tech make it easy for ISVs to select the payment devices they need, and our new APIs allow ISVs to switch out devices seamlessly.

Another trend we saw in 2023 was a shift in technology delivery.

The Rise of ‘As a Service’ Models

This past year also saw the proliferation of “as-a-service” models — whether it was in open banking, cash payments, and other types of services. This has given way to faster integrations and more functionality without cumbersome coding requirements.

Payroc’s APIs Make Embedded Payments Easier to Implement

In response to this shift, Payroc made significant investments in technology and innovation to develop a payments platform that is completely agnostic. ISVs use this platform to accommodate virtually any type of merchant, payment type, funding instruction, or reporting need with minimal integration. To that end, we have launched four APIs that enable ISVs to board new merchants, take and settle payments, report, and even manage payroll easily and seamlessly.

Boarding API

Our merchant account boarding allows ISVs to collect all pertinent information about each merchant in a digital fashion, submit that information through our API, get a digital signature, and provision that account to have it up and ready for processing quickly.

Transactions API

Our platform covers credit, debit, and even ACH transactions, both in-person and online.

Funding Instructions APIs

We can also offer dynamic funding capabilities that enable ISVs to create value within their software. For example, one of our partners develops payment solutions for race management — triathlons and marathons — where many of the registrations involve nonprofit donations. Their solutions need to settle funds to both the merchant and the third-party nonprofit. The process sends the majority of the registration to the race management company, a portion to the charity, and the rest to the ISV.

Reporting API

Our reporting API pushes that settlement information so ISVs can report within their own software, including the deposits. Merchants have all the functionality they need to reconcile and everything else for all their payments, without ever leaving the ISV’s software.

Looking ahead, we have even more solutions in development — including the ability to enable Apple Pay and Google Pay.

A third and equally impactful trend has been a focus on payments you don’t even have to think about.

Embedded Payments Are Taking Off

We started to hear about this trend before the pandemic; however, it has definitely gained steam in the past year. More ISVs are starting to look at ways to embed payments into their solutions — where consumers simply need to use their own devices for transactions. Simply download an app, load your payment information or use digital wallets like Apple Pay and Google Pay, and consumers can pay with a swipe or by pressing a button.

Payroc Makes Embedded Payments Easier

Payroc is well-poised to help ISVs deliver embedded payments by enabling anytime, anywhere payment solutions. Whether ISVs develop solutions that leverage mobile wallets, “tap to phone” and pay, and future payments innovation, Payroc’s platform is designed to make delivery easy.

Some examples of innovations on the horizon include:
Augmented/Virtual Reality

Augmented and virtual reality environments are becoming more popular. They allow consumers to tour a “store” and make purchases that are automatically shipped to their address. The type of embedded payments required relies on a payment platform that can be customized to specific needs and accommodate a range of payment options.

Payment-Enabled Cars and Car-as-a-Wallet

In the future, consumers may find that their toll road transponders or even their mobile devices will also facilitate paying at a fast-food restaurant drive-thru, a pharmacy, or even prepaying for gasoline. It’s also likely that tomorrow’s automobiles will be embedded with payment apps to facilitate seamless transactions.

Regardless of the innovation, Payroc is poised to deliver on these trends. Find out more about how we are planning for 2024 trends in the second blog in this series.

To learn more about how Payroc can help your business, contact us.