The Future of FinTech: 3 Revolutionary Trends Transforming Payments in 2024

Unveiling the Next Wave of Innovation in Financial Technology: From Super APIs to Global Payment Solutions

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Key Takeaways:

  • The “Great Rebundling” in FinTech is leading to more consolidated, comprehensive service platforms for businesses and consumers.
  • The development of truly functional IBANs is set to revolutionize cross-border transactions, making them faster and more reliable.
  • A new era of digitally-native infrastructure for cross-border payments is emerging, promising to overhaul the current outdated systems.


As the financial technology (FinTech) sector continues to evolve at a breakneck pace, Eddie Harrison, CPO and co-founder of Paytrix, outlines three key trends that are set to redefine the payments landscape in 2024. These developments not only promise enhanced efficiency and convenience but also signal a major shift in how businesses and consumers manage financial transactions.

The Great Rebundling: A Shift Towards Comprehensive Services

In the past two decades, we’ve witnessed the unbundling of financial services, with specialized providers emerging in areas like foreign exchange and corporate treasury. However, this fragmentation has led to complexities in managing multiple suppliers. Harrison foresees a significant shift towards “The Great Rebundling” in 2024, especially in the B2B sector. This trend involves the consolidation of services into super apps for consumers and super APIs for businesses, simplifying the financial service landscape.

Revolutionizing Cross-Border Transactions: The Role of IBANs

Despite advancements in digital technology, cross-border payments remain inefficient and unreliable. The introduction of IBANs in 1997 was intended to simplify European transactions, but they often function ineffectively on a global scale. Harrison predicts that 2024 will bring about genuine solutions enabling businesses to operate seamlessly across borders with truly functional IBANs.

New Infrastructure for Cross-Border Payments: Beyond Legacy Systems

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The online retail experience continues to innovate, but the underlying payment infrastructure, often based on outdated 1970s technology, lags behind. Harrison believes that 2024 will mark the beginning of a new era for cross-border payments, with the introduction of digitally-native, globally-capable payment solutions that go beyond merely updating old systems.

About Paytrix: Pioneering the Payments Curation Layer

Paytrix, headquartered in London, is at the forefront of transforming online business transactions on a global scale. By developing the world’s first payments curation layer, the company is turning complex payment and banking infrastructures into a streamlined process accessible through a single ecosystem, contract, and API.

Conclusion: Embracing the Future of FinTech

As these trends materialize, they represent more than just technological advancements; they symbolize a fundamental shift in the financial ecosystem. Businesses and consumers alike stand at the cusp of a new era in financial transactions, where convenience, speed, and global connectivity redefine what’s possible in the world of FinTech.

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