Credit/debit cards globally lead online payment preferences with over 40% usage while digital wallets comes in second with over 20% in 2024
Digital Payments Growth Accelerates, Set to Exceed USD 3 Trillion by 2028
By 2028, global payments revenue is expected to surpass USD 3 trillion, with Asia-Pacific leading, contributing nearly 50%. Non-cash transactions are projected to grow at over +10% CAGR, reaching almost 3 trillion by 2028.
Instant Payments and Digital Wallets Reshape Global Transactions
Instant payments are forecast to rise from over 15% in 2023 to over 20% of global transactions by 2028. Digital wallets continue strong growth, with more than +60% YoY increase in Q3 2023. Credit cards remain dominant, accepted by over 75% of businesses in 2024.
Crypto Payments Gain Traction as Users Exceed 560 Million in 2024
Cryptocurrency adoption has surged, with global crypto ownership up +30% YoY, surpassing 560 million users in 2024. Blockchain and DeFi are driving financial innovation, with more than 60% of respondents interested in using digital currencies for payments.
AI Fraud Prevention Strengthens Payment Security, Saving Billions
AI-driven fraud detection is gaining traction, with Visa’s model preventing nearly USD 30 billion in fraud annually. Mastercard’s AI solutions boost fraud detection accuracy by up to 300%. AI also enhances payment efficiency, improving transaction success rates for platforms like Adyen.
Questions Covered:
1. What is the projected revenue of the global payments industry by 2028?
2. What are the most popular online payment methods among consumers globally?
3. How is the global adoption of instant payments changing, and what impact does it have on traditional payment methods?
4. What percentage of consumers would prefer to use cryptocurrencies for everyday purchases?
5. What percentage of consumers globally use digital wallets for online and in-store payments?
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Table of Contents
1. Management Summary
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Apple
- Paypal
- Visa
- Mastercard
- Adyen
- Patagonia
- NordSecurity
- Global Payments
