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:
- What is the projected revenue of the global payments industry by 2028?
- What are the most popular online payment methods among consumers globally?
- How is the global adoption of instant payments changing, and what impact does it have on traditional payment methods?
- What percentage of consumers would prefer to use cryptocurrencies for everyday purchases?
- What percentage of consumers globally use digital wallets for online and in-store payments?
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Table of Contents
1. Management Summary
