Contactless payments continued to take precedence over traditional methods as the industry continues its digital transformation. Companies are also becoming more aware of vendor spending and building resilience will be key for future growth next year. 
These thoughts were shared by Brad Hyett, CEO of phos by Ingenico, and Henry Helgeson, CEO at BlueSnap
Firstly, Hyett reveals how SoftPOS’ increased adoption in 2024 will transition to further growth next year, as new regulatory standards are built around contactless payments to create new opportunities for merchants and financial institutions to better serve their customers in a time where an accelerated user experience is pivotal. 
Brad Hyett, CEO of phos by Ingenico

SoftPOS set for further expansion

In 2025, business resilience will be closely tied to the adoption of innovative payment technologies, with SoftPoS leading the charge. As we look ahead, the steady growth of SoftPoS adoption is set to accelerate and bring transformative changes to the payments landscape.

I anticipate the incorporation of additional card schemes and Alternative Payment Methods (APMs) into SoftPoS solutions, expanding their versatility and appeal. Moreover, we’ll likely see an increase in value-added services, either directly integrated into SoftPoS solutions or as complementary offerings. 

The global SoftPoS transaction value is projected to grow significantly, driven by increased understanding and adoption by major financial institutions. As larger organisations gain clarity on MPOC certification developments, we expect to see expanded use of the technology and new use cases emerging.

In emerging markets, SoftPoS is poised to play a crucial role in facilitating the rise of contactless payments. The technology enables a rapid expansion of acceptance points without the traditional costs associated with hardware, enhancing the overall user experience and driving adoption.

By 2025, I expect to see more sophisticated bundling of SoftPoS with other business tools. This integration could encompass inventory management systems, customer loyalty programs, and other essential business tools, creating a more holistic and efficient operational ecosystem for merchants. 

AI’s role in bolstering SoftPOS’ adoption

If we’re looking at the emerging usage of AI, it will definitely enhance the broader payments landscape by improving security through better fraud screening and optimizing estate management. However, its direct application to SoftPoS as an endpoint technology may be limited.

The regulatory environment for SoftPoS will continue to evolve, with the release of MPOC v1.1 providing further clarity while also introducing new questions. This dynamic landscape may create some uncertainty, particularly among larger institutions that can drive mass adoption. 

To manage this, SoftPoS providers should make an active effort to answer any questions and resolve merchants’ doubts. Educating them about the benefits of the regulation will also go a long way. Once the initial apprehension passes, the standard will help boost merchants’ confidence in novel payment technologies and make them more open to modernisation.

The goal would be to eventually create a network of interconnected tools, which will be able to supplement, analyse, and develop insights from consumer data – and SoftPoS is the perfect starting point for this. It offers avenues for innovation and growth for technological adapters and legacy firms alike in a cost-effective manner. 

By embracing these innovative payment solutions in 2025 and ahead, companies can streamline operations, enhance customer experiences, and position themselves for success in a rapidly evolving market.

Next, Helgeson explores the challenges that face businesses when it comes to building resilience within automating payments and spending on vendors as the global economic climate continues to fluctuate. 
Henry Helgeson, CEO of BlueSnap

Focus on business consolidation in 2025

Building resilience comes from the top. First, the executive team should look at their current operations and see if they can be streamlined and improved in any way. 

We are in a tight economy and capital is in short supply – this means consumer spending will be unpredictable in 2025. For this reason, for businesses to thrive in the coming year, they need to control their own expenses. Vendor consolidation is a great way to do this, as it helps firms cut their spending and reduce complexity. 

Having to manage fewer vendors also simplifies communication and minimises administrative tasks. All this decreases the redundancies associated with overlapping services. A smaller vendor pool also helps cut down technical debt by ensuring consistent processes, standardised integrations, and fewer compatibility issues. 

As platforms expand their offerings, fragmented solutions—like adding separate integrations for various payment needs—can lead to significant technical overhead. To build resilience, business leaders must keep an eye on this and favour a single partner with a robust and flexible offering over multiple solutions. 

How automated invoicing can streamline cash flow

Another important way to build resilience next year is by automating processes with invoicing. Manual invoicing wastes time and resources. Senior decision-makers have reported that their teams spend 11 working hours managing a single invoice. In a tight economy, there is no place for such inefficiencies. 

Automation will help companies reduce their daily sales outstanding (DSO). This is a measure of the average number of days it takes a company to collect payment after a sale. A high DSO indicates delayed customer payments, which can hurt cash flow, strain working capital, and signal inefficiencies in billing or collections processes. By triggering email campaigns when payments are due, automation can nudge customers to make payments on time and reduce the DSO. 

Streamlining and optimising payments is an important part of building resilience, but firms tend to overlook this. Companies tend to focus on the amount that they are spending to be able to take payments from their consumers, and not on the big picture, which is the revenue that can be generated from payments. 

It is important for businesses to recognise that if they have the right technology and the right payment partner, payments can do so much more for the business. 

For example, payments can help increase authorisation rates and approvals on existing transactions, offer local currencies, and reduce the costs associated with cross-border transactions. 

This directly addresses the obstacles that consumers face in their purchase journey, which leads them to abandon their carts at checkout.