The changing face of online payments: The technologies simplifying transactions

The online payments ecosystem is evolving at a rapid pace by new technologies that are changing the way businesses manage their payment transactions. New technologies are rapidly changing the online retail landscape, making complex systems simpler and more secure. While this shift towards digital commerce is necessary, it brings increased risks, particularly concerning transaction fraud. The key question for modern businesses is clear: how can we leverage these emerging tools to keep pace with customer expectations, simplify admin, and improve cash flow?

Paul Poloskov, Digital and Ecommerce Product Manager at Global Payments Oceania, explains that the evolution is being led by Artificial Intelligence (AI) and cloud-based systems. “The focus today isn’t just on processing a sale, but on delivering a seamless, secure experience that retains the customer,” Paul says.

Key technologies making online payments easier

The shift in the market is being driven by innovations that address the twin challenges of security and efficiency.

1. AI and machine learning

The application of Artificial Intelligence (AI) and Machine Learning (ML) is fundamental to securing the rapidly growing digital market. For Australian retailers, this technology is no longer optional; it is essential to mitigating increasing fraud risks.

Fraud detection and prevention: AI is now the first line of defence against malicious activity. Solutions analyse vast amounts of transactional data instantly to identify and stop fraud attempts in real-time. This is critical in Australia, where the value of card fraud on Australian-issued cards increased by 20% in 2024, rising to $913 million.

AI’s ability to analyse patterns faster than any human team is vital for protecting both the business and the customer experience. “AI quickly sifts through enormous transaction data sets to improve customer verification procedures. This data-driven decision-making is the most effective way to fight fraud and prevent malicious activity in the digital space,” Paul confirms. Learn more about Eway’s award-winning fraud protection plans.

Operational cost reduction: Beyond security, AI improves the efficiency of processing online payments. It streamlines back-office tasks, such as transaction routing and customer service, which directly reduces operational costs. The Global Payments 2025 Commerce and Payment Trend Report highlights AI’s role in accelerating the flow of mission-critical data, enhancing decision-making, and ultimately unlocking business opportunities by reducing enterprise-wide costs.

2. Integrated payment gateways

The modern integrated payment gateway is the foundation for simple, secure digital transactions. It replaces the need to manage disparate, non-connected systems, providing a single, unified method for handling payments across all channels—websites, mobile applications, and even social media.

This unification is increasingly important as Australians embrace new ways to pay. Reserve Bank of Australia (RBA) data from late 2024 confirms the acceleration of digital adoption, noting that 44% of all device-present transactions acquired in Australia were made using mobile wallets. Offering more ways to pay can help you win more business. Eway’s flexible payment solutions make it easy for customers to pay how they prefer, while giving you advanced tools for functionality, flexibility, and customisation.

Practical benefits for Australian businesses:

• Improve cash flow: By consolidating processing and automating reconciliation, integrated systems ensure funds are transferred quickly and accounted for immediately.
• Reduce admin: Automation eliminates hours of manual data entry and error correction, freeing up staff to focus on growth.
• Retain customers: Accepting diverse online payments via a fast, seamless checkout process significantly reduces cart abandonment, directly boosting conversion rates.

Paul stresses that this technology levels the playing field for small and medium businesses (SMBs). “Integrated payment gateways allow SMBs to deliver the same seamless, secure, and instant experiences that customers expect from large enterprises. While the initial setup may seem challenging, the outcome is compelling: faster cash flow, vastly reduced reconciliation headaches, and more time to focus on growth instead of back-office administration,” he notes.

The demand for these streamlined systems is evident, with the Australian payment gateway market expected to nearly double, reaching $1.41 billion by 2033.

3. Cloud-based solutions

Cloud-based payment solutions provide flexibility and the necessary scalability for businesses of all sizes to react quickly to changing market conditions.

Scalability for SMBs: Cloud systems are attractive to SMBs because they offer a modular solution without the requirement for large upfront investment in hardware or expensive software licenses. Businesses can scale their payment capabilities as operations expand, simultaneously benefiting from enhanced, enterprise-grade security and real-time data analytics.

Cost efficiency: With a cloud payment system, businesses can reduce overhead costs, as they don’t need to invest in expensive infrastructure or software. According to Statista, revenue in the Public Cloud market worldwide is projected to reach US$961.93 billion in 2025, highlighting the ongoing shift toward cloud-based solutions across industries.

Practical applications for your business

These advancements result in faster, easier and more reliable transactions. Eway’s payment gateway, for example, is designed to integrate with more than 250 platforms, including leading accounting software, website add-ons, and popular e-commerce platforms like Shopify and Woo.

These seamless integrations ensure frictionless transactions, improving security and providing better insights into customer behaviour.

Payment gateway integration examples:

• Shopify: Businesses using Shopify can accept online payments securely and automatically through the Eway gateway. This integration streamlines the checkout process, reducing friction and improving conversion rates for customers.
• WooCommerce (Woo): Eway integrates seamlessly with this popular WordPress e-commerce plugin. Merchants can accept major credit and debit cards, including Mastercard, Visa, and American Express, directly within their online store. By keeping the customer on your site, you enhance the experience and maintain brand consistency.

By leveraging these secure integrations, businesses can simplify their payment processes and provide a superior experience, leading directly to increased customer satisfaction and loyalty.

The digital payments environment will continue its dynamic evolution, underpinned by the integration of AI, machine learning and cloud technology. Businesses that embrace these secure tools will be better positioned to offer convenient, reliable and smooth experiences for their customers. Payment providers like Eway will continue to adapt, helping Australian businesses find new ways to stay competitive.

“Staying ahead of payment technology trends isn’t just about adopting new software. It’s about ensuring those tools enhance the customer experience, simplify your life as an entrepreneur, and, most importantly, help your business grow,” Paul concludes.

Embracing these integrated, intelligent systems is the most direct way to future-proof your business. By harnessing these technologies, Eway empowers you to move beyond manual admin, accelerate your cash flow, and simplify the management of all your online payments. This integrated approach ensures you can offer the fast, secure customer experiences necessary to thrive in Australia’s digital-first economy. Chat to our team today.