are increasingly becoming vulnerable to cyber fraud cybersecurity is another space that will be emphasised on this year as customers and businesses look to adopt digital payments more rapidly escrowpay a cloudnative platform that provides a full stack of solutions for businesses leverages a third party account to enable and ensure trust between buyers and sellers the companys technology previously only catered to corporate business transactions but with the diversification of digital payment methods the startups technology has found wider use cases due to its userfriendly platform and affordabilityashwin chawwla founder md escrowpay said b2b payments will evolve to version 30 where digital safe quick and flexible commerce will be the new frontier through mobile payments digital escrow in b2b will increase by 2025 more than 70 of b2b transactions are anticipated to be digital reducing the need for paper checks and invoices for enterprises there will be an increase in accounts receivable innovating in payments will continue to flywheel in 2023the convergence of commerce business models with the digital platform ecosystem has led to the proliferating influence of embedded finance in the financial services industry this is largely driven by the increasing customer demand for seamless convenient financial services companies such as wimbo and easebuzz provide holistic apidriven payment infrastructures that aid businesses to accept process and disburse payments along with gathering useful customer insights to drive business growth the products offered by these companies not only simplify and facilitate digital payments but their advanced analytical offerings realtime payment analytics and advanced payment security solutions add to the potential of offering better financial products that are derived out of a datadriven approachamit kumar cto easebuzz said the payments industry is constantly evolving and 2023 is shaping up to be a year of significant innovation and change the focus on building strong systems and processes to build customer trust is setting the foundation for a larger vision for example tokenization for better security comprehensive fraud management simplified digital onboarding and dispute management systems are ensuring customers trust on digital payment platforms adoption of digital payments is driven not only because of convenience offered by wider payment modes like net banking debit card credit card upi etc but also due to easy access of credit to the larger population through credit card on upi ocen initiatives bnpl stack etc some important payment trends to watch in 2023 include digitisation of not just payments but endtoend financial operations digital payments adoption in b2b segment emphasis on cybersecurity during online payments faster more efficient realtime paymentssettlements epos based payment acceptance by small and medium businesses etcsudhindra magadi cto wibmo a payu company said digital payments are a crucial part of indias future fuelled by growing consumer demand and increased penetration of internet services in the country the digital payments industry is undergoing immense transformation digital tokens will be more deeply and widely embedded in the world of everyday ecommerce and payments tokenization is a winwin for customers merchants and issuers it