Payments Market Report 2026

The payments market size has grown strongly in recent years. It will grow from $788.06 billion in 2025 to $857.83 billion in 2026 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to growth of banking infrastructure, expansion of electronic fund transfer systems, rising use of card-based payments, increased adoption of online banking, availability of nationwide payment networks.

The payments market size is expected to see strong growth in the next few years. It will grow to $1.24 trillion in 2030 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing demand for real-time payments, expansion of cross-border payment interoperability, growing focus on financial inclusion initiatives, rising adoption of open banking frameworks, increasing investments in digital payment modernization. Major trends in the forecast period include increasing adoption of digital payment instruments, rising integration of instant payment systems, growing demand for interoperable payment networks, expansion of cashless payment initiatives, enhanced focus on secure fund transfers.

Rising contactless payments are expected to propel the growth of the payments market going forward. Contactless payments refer to transactions made using a debit card, credit card, smartphone, or wearable device that only require a tap or a wave near a payment terminal. Contactless payments are rising due to their convenience, increased spending limits, hygiene benefits, widespread acceptance, technological advancements, and enhanced security. Contactless payments streamline transactions in the payments sector by allowing quick, secure purchases with a simple tap, enhancing convenience and reducing reliance on cash. For instance, in July 2024, according to the UK Finance, a UK-based trade association, in 2023, the UK saw 18.3 billion contactless payments, a seven percent increase from the 17 billion recorded in 2022. Therefore, rising contactless payments are driving the growth of the payments market.

Major companies operating in the payments market are focusing on developing innovative digital payment solutions such as mobile-based corporate payment tools to enhance transaction efficiency, security, and customer convenience. Mobile-based corporate payment tools enable businesses to issue and manage virtual payment credentials on employees’ mobile devices, allowing secure, tokenized, and trackable payments at physical and digital points of sale while offering capabilities such as real-time spend controls, automated reconciliation, and improved compliance monitoring. For instance, in March 2025, Emirates NBD, a UAE-based banking and financial services institution known for its digital payments innovation, partnered with Visa Inc., a US-based leader in digital payments and card-based transaction technologies, to launch Visa Commercial Pay Mobile, a mobile payment solution that enables employees of SMEs and corporate clients to make secure payments using Visa virtual cards stored in digital wallets such as Apple Pay and Google Pay. The solution extends tokenized virtual card functionality to contactless POS transactions, incorporates real-time control and expense-management features, and supports automation and reconciliation of corporate payments, strengthening organizational cost governance and improving operational efficiency.

In February 2023, Nuvei Corporation, a Canada-based payments technology company, acquired Paya Holdings Inc. for $1.3 billion. With this acquisition, Nuvei aimed to expand its market presence and diversify its capabilities by integrating Paya’s strong position in high-growth sectors such as healthcare, government, and B2B payments. Paya Holdings Inc. is a US-based payments technology company that specializes in providing integrated payment and commerce solutions designed to streamline frictionless payment acceptance and processing across multiple industries.

Major companies operating in the payments market are Amazon Payments Inc., Apple Inc., Google Pay Inc., Samsung Electronics Co. Ltd., Industrial and Commercial Bank of China Limited, Alipay Co. Ltd., JPMorgan Chase & Co., Bank of America, National Merchants Association, Citibank, Wells Fargo and Company, American Express Company, Capital One Financial Corporation, Visa Inc., PayPal Holdings Inc., Flagship Merchant Services, Mastercard Inc., Fiserv Inc., Square Inc., Fidelity National Information Services Inc., Stripe Inc., Global Payments Inc., Payline Data Services LLC, Worldline SA, Adyen N.V., ACI Worldwide Inc., X-Payments, First Data Corporation, Bitpay Inc., Braintree Technology solutions LLC, GoCardless Ltd.

Asia-Pacific was the largest region in the payments market in 2025. Western Europe was the second largest region in the global payments market share. The regions covered in the payments market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the payments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The payments market consists of revenues earned by entities that are engaged in facilitating payment transfers between individuals, companies, or both. The payments industry consists of establishments primarily engaged in processing money transfers and payments between various accounts. This includes all institutions involved in payment processing such as banks, non-banking financial institutions, and others. Revenue generated from the payments market includes all the processing and services fees levied by the banks and financial institutions for payment processing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.