The Surprising Industries Driving Payment Technology Forward

Payment tech is moving fast these days, and it's not just the usual suspects driving the change.

Sure, banks and fintech companies are doing their part, but the real innovation is coming from unexpected places. Your doctor's office has streamlined billing. That Uber ride ends without you even thinking about payment. Everyone's figured out that clunky checkout processes are just bad business.

Online casinos might surprise you as payment innovators. These platforms need to handle instant money transfers while keeping everything secure and frictionless. Players expect to deposit and withdraw cash without any hassle, so casinos have had to get really good at smooth transactions.

The pay by mobile casino trend is a perfect example. Players want to fund their accounts in seconds using just their phone, and casinos have figured out how to make that happen while staying compliant and secure. It's the kind of user-focused design that's pushing the entire payments industry forward.

But casinos aren't the only unexpected innovators here. Let's look at other industries that are quietly reshaping digital payments.

Retail and Public Transport: The Contactless Revolution

Retail and transportation have long been early adopters of payment innovation and were among the first to standardise contactless payments – which are no longer a novelty, but rather a customary part of everyday life. According to UK Finance, over 38% of all payments in the UK in 2023 were contactless, driven by both traditional debit cards and mobile wallets like Apple Pay and Google Pay.

Public transport systems in major cities like London have normalised tap-and-go behaviour, reducing reliance on cash and improving commuter flow. Following the same principle, retailers offer contactless self-checkouts and tap-to-pay options that prioritise speed and convenience. Together, retail and transportation are prime sectors influencing the everyday behaviours that define how we pay.

Hospitality and Events: SoftPoS and Mobile Flexibility

Another rapidly evolving industry is the hospitality sector, where mobile and SoftPoS (software-based point of sale) systems are not only improving customer experience but also empowering small businesses and pop-up vendors with a simple, cost-effective way to accept payments.

Instead of bulky hardware, venues and vendors can use any NFC-enabled device – such as a smartphone – as a card reader, accepting both physical cards and mobile payments from customers. This flexibility allows small businesses or temporary vendors to operate without investing in expensive traditional hardware.

Healthcare: Streamlining Patient Billing

While the healthcare industry has traditionally lagged behind in terms of digital payments, it is also evolving. Private clinics and hospitals are adopting integrated billing platforms that allow patients to settle bills via mobile or online portals, reducing admin work and improving cash flow.

With features like automated payment reminders, instalment options, and real-time insurance validation, healthcare providers are utilising digital payment methods to further help modernise the financial side of patient care while maintaining compliance with health data regulations.

Fintech & Government: The Plumbing of Payment

While many industries focus on improving user experience, fintech firms and government initiatives are building the infrastructure of digital payment methods that power it all. The UK’s National Payments Vision, published in 2024, outlines how payment systems must be future-proofed through Open Banking, account-to-account transfers, and the exploration of a digital pound.

Already, Faster Payments account for over 10% of all UK transactions, and Open Banking adoption continues to grow, enabling businesses to securely connect customer accounts for real-time transfers and account verification.

Artificial Intelligence: Smarter, Safer Payments

AI is now playing a pivotal role in how payments are analysed, secured, and personalised. Globally, over 70% of all financial services firms are using machine learning to predict cash flow, detect fraud, and analyse credit scores.

With this technology, real-time fraud detection is sharper than ever, flagging suspicious activity before it escalates. Meanwhile, businesses are using predictive analytics to offer smart financing options, detect churn risks, or tailor loyalty rewards.

As data privacy regulations evolve, AI is also playing a crucial role in ensuring compliance without compromising on user experience, helping businesses strike a balance between personalisation and protection. For more, see Visa’s article on How AI Unlocks Intelligent Payments at Scale.

Why Cross-Industry Innovation Matters

What ties these developments together is a shared focus on user-centric design, speed, and security. Whether through a smartwatch, a phone, or a physical card, today’s consumers expect to pay instantly, securely and seamlessly – no matter where they are.

Even traditional industries like legal services, education, and real estate are integrating instant payment options, driven by the same consumer expectations seen in retail, hospitality, healthcare, or gaming.

While it’s often the flashy technological advancements that attract attention, some of the most impactful payment innovations are happening behind the scenes. Businesses are now turning to cloud-based tools to automate invoicing, reconcile transactions across multiple currencies, and manage real-time reporting.

These solutions are especially valuable for smaller businesses, which often operate with lean teams and limited accounting resources. As Find the Needle points out, outsourcing payment processing enables businesses to streamline operations and allow their teams to focus on growth.

In this broader context, the casino sector’s push for streamlined, mobile-first transactions isn’t just about gaming; it’s part of a larger trend where regulated industries are increasingly adapting to digital-first behaviours, setting the pace for others to follow.

Final Thoughts

Payment technology is no longer confined to banks and card networks. Today, a diverse ecosystem of retailers, healthcare providers, fintech disruptors, casinos, and governments is driving payment innovation forward.

As the lines between physical and digital commerce continue to blur, we can expect to see more unlikely players step into the role of payment pioneers. Whether it’s a farmer’s market vendor using SoftPoS or a digital health app with biometric checkout, a mix of industries is fueling the future of payments, each contributing to a more seamless and secure payment experience.