GITNUXREPORT 2025

Digital Transformation In The Payment Card Industry Statistics

Digital payments rapidly grow, driven by AI, contactless, and biometric innovations.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

65% of consumers prefer digital wallets over physical credit/debit cards

Statistic 2

Contactless payment transactions increased by 35% in 2023 compared to 2022

Statistic 3

The number of digital payment users is expected to reach 4.4 billion globally by 2025

Statistic 4

The adoption of QR code payments increased by 50% in regions such as Asia-Pacific in 2023

Statistic 5

The deployment of 5G technology is expected to accelerate digital payment adoption by 20% over the next two years

Statistic 6

Digital onboarding for new payment customers has increased by 55% in 2023, reducing account opening time by 60%

Statistic 7

66% of consumers use mobile banking apps for making payments, up from 54% in 2021

Statistic 8

Mobile-based QR code payments are projected to become the leading form of digital payments in emerging markets by 2026

Statistic 9

68% of consumers are willing to use biometric authentication for secure payments, up from 50% in 2022

Statistic 10

The number of digital-only banking customers conducting digital payments increased by 40% in 2023, according to industry data

Statistic 11

72% of global consumers have used a mobile payment app in the past year, indicating widespread acceptance of digital payments

Statistic 12

83% of financial institutions report increased customer satisfaction after implementing digital payment platforms

Statistic 13

The share of contactless payments in retail transactions reached 65% globally in 2023, driven by pandemic-led consumer behavior shifts

Statistic 14

55% of consumers are comfortable using biometric authentication for in-store payments, indicating growing trust

Statistic 15

The percentage of shoppers using digital payment options at checkout increased from 40% in 2021 to 70% in 2023, reflecting rapid adoption

Statistic 16

66% of consumers in developing countries prefer mobile-based digital payments over cash, emphasizing the shift towards digital financial inclusion

Statistic 17

The use of AI-driven personal finance management tools linked with digital payments increased by 50% in 2023, helping consumers optimize their budgets

Statistic 18

40% of consumers in the US prefer using mobile apps for bill payments, reflecting changing consumer habits

Statistic 19

Across Asia-Pacific, digital wallet usage topped 70% penetration among smartphone users in 2023, highlighting regional dominance

Statistic 20

The number of active digital banking users conducting payments rose by 38% globally in 2023, demonstrating increased digital engagement

Statistic 21

69% of consumers have increased their use of digital payments during the COVID-19 pandemic, indicating lasting behavioral shifts

Statistic 22

The use of AI for fraud detection in payment systems reduced false positives by 45% in 2023

Statistic 23

The use of machine learning algorithms to detect payment fraud increased by 60% in 2023, resulting in a more than 50% reduction in fraud losses in some regions

Statistic 24

Digital payment fraud attempts increased by 25% in 2023, prompting greater investments in fraud prevention tools

Statistic 25

Digital identity verification solutions reduced onboarding fraud cases by 30% in 2023, according to industry reports

Statistic 26

The global digital payment market is projected to reach $10.7 trillion by 2027, growing at a CAGR of 13.7%

Statistic 27

The global contactless card market is expected to grow at a CAGR of 12.1% from 2023 to 2030

Statistic 28

58% of financial institutions are exploring or have adopted AI-powered chatbots to improve customer support for payments

Statistic 29

The percentage of cross-border digital payment transactions increased by 20% in 2023, facilitating global commerce

Statistic 30

The integration of IoT devices in payment processing is anticipated to grow by 55% in the next three years, enabling contactless and automated payments

Statistic 31

The total transaction value of digital payments in Latin America is projected to reach $600 billion in 2025, a rise of 75% from 2022

Statistic 32

Digital payment adoption among small and medium enterprises (SMEs) increased by 45% in 2023, reflecting a shift towards automation and e-commerce

Statistic 33

The number of biometric payment card issuances worldwide surpassed 10 million in 2023, emphasizing a shift towards more secure card payments

Statistic 34

The global digital payment security market is projected to grow at a CAGR of 15.8% from 2023 to 2030, reaching $25 billion

Statistic 35

Blockchain infrastructure investments by financial institutions in the payments sector increased by 80% in 2023, signaling strong confidence in distributed ledger technology

Statistic 36

The adoption of mobile point-of-sale (mPOS) devices grew by 33% globally in 2023, expanding the reach of digital payment acceptance

Statistic 37

The volume of digital remittances increased by 60% in 2023, easing cross-border money transfers

Statistic 38

The global market for digital payment hardware, including POS terminals and biometric readers, is expected to reach $15 billion by 2026, with a CAGR of 8.2%

Statistic 39

Cryptocurrency payment acceptance increased by 55% in 2023, driven by merchant interest and consumer demand

Statistic 40

Over 40% of merchants worldwide now accept cryptocurrencies as part of their payment options

Statistic 41

48% of consumers have abandoned a digital payment due to security concerns

Statistic 42

The use of tokenization in payment systems increased by 70% in 2023, enhancing security for card-not-present transactions

Statistic 43

82% of financial institutions plan to increase investments in AI for payment security in 2024

Statistic 44

Up to 70% of fraud in the payment industry is now linked to digital channels

Statistic 45

60% of large merchants plan to adopt biometric authentication for payments by 2025

Statistic 46

Digital payment fraud losses globally are estimated at $33 billion annually

Statistic 47

The implementation of biometric security into payment cards increased transaction security by 65%, according to a 2023 survey

Statistic 48

Over 80% of payment service providers prioritize cybersecurity upgrades in their digital transformation initiatives

Statistic 49

Digital fraud detection systems that incorporate AI processed over 10 billion transactions in 2023, showing increasing reliance on automation

Statistic 50

54% of financial institutions have integrated biometric verification into mobile banking apps for payments, improving security

Statistic 51

Over 90% of digital payment platforms now incorporate multi-factor authentication to enhance security, up from 75% in 2021

Statistic 52

78% of payment card issuers have adopted digital transformation strategies as of 2023

Statistic 53

Over 50% of banks worldwide have implemented blockchain-based payment systems

Statistic 54

85% of banks have integrated APIs to enable seamless digital payment services

Statistic 55

75% of financial services firms have adopted cloud computing solutions for payment processing

Statistic 56

90% of POS terminals in developed countries support contactless payments as of 2023

Statistic 57

47% of payment processors utilize machine learning models for transaction risk assessment, up from 20% in 2020, demonstrating technological advances

Statistic 58

59% of financial institutions have adopted or are exploring open banking initiatives to facilitate innovative payment solutions

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Key Highlights

78% of payment card issuers have adopted digital transformation strategies as of 2023
The global digital payment market is projected to reach $10.7 trillion by 2027, growing at a CAGR of 13.7%
65% of consumers prefer digital wallets over physical credit/debit cards
Contactless payment transactions increased by 35% in 2023 compared to 2022
82% of financial institutions plan to increase investments in AI for payment security in 2024
Over 50% of banks worldwide have implemented blockchain-based payment systems
The number of digital payment users is expected to reach 4.4 billion globally by 2025
Up to 70% of fraud in the payment industry is now linked to digital channels
60% of large merchants plan to adopt biometric authentication for payments by 2025
The use of AI for fraud detection in payment systems reduced false positives by 45% in 2023
85% of banks have integrated APIs to enable seamless digital payment services
The adoption of QR code payments increased by 50% in regions such as Asia-Pacific in 2023
48% of consumers have abandoned a digital payment due to security concerns

As digital transformation accelerates at an unprecedented pace, with 78% of payment card issuers embracing innovative strategies and the global digital payment market projected to hit $10.7 trillion by 2027, the industry is witnessing a seismic shift towards contactless, biometric, and AI-driven payment solutions amid rising security concerns and evolving consumer preferences.

Consumer Adoption and Usage Trends

65% of consumers prefer digital wallets over physical credit/debit cards
Contactless payment transactions increased by 35% in 2023 compared to 2022
The number of digital payment users is expected to reach 4.4 billion globally by 2025
The adoption of QR code payments increased by 50% in regions such as Asia-Pacific in 2023
The deployment of 5G technology is expected to accelerate digital payment adoption by 20% over the next two years
Digital onboarding for new payment customers has increased by 55% in 2023, reducing account opening time by 60%
66% of consumers use mobile banking apps for making payments, up from 54% in 2021
Mobile-based QR code payments are projected to become the leading form of digital payments in emerging markets by 2026
68% of consumers are willing to use biometric authentication for secure payments, up from 50% in 2022
The number of digital-only banking customers conducting digital payments increased by 40% in 2023, according to industry data
72% of global consumers have used a mobile payment app in the past year, indicating widespread acceptance of digital payments
83% of financial institutions report increased customer satisfaction after implementing digital payment platforms
The share of contactless payments in retail transactions reached 65% globally in 2023, driven by pandemic-led consumer behavior shifts
55% of consumers are comfortable using biometric authentication for in-store payments, indicating growing trust
The percentage of shoppers using digital payment options at checkout increased from 40% in 2021 to 70% in 2023, reflecting rapid adoption
66% of consumers in developing countries prefer mobile-based digital payments over cash, emphasizing the shift towards digital financial inclusion
The use of AI-driven personal finance management tools linked with digital payments increased by 50% in 2023, helping consumers optimize their budgets
40% of consumers in the US prefer using mobile apps for bill payments, reflecting changing consumer habits
Across Asia-Pacific, digital wallet usage topped 70% penetration among smartphone users in 2023, highlighting regional dominance
The number of active digital banking users conducting payments rose by 38% globally in 2023, demonstrating increased digital engagement
69% of consumers have increased their use of digital payments during the COVID-19 pandemic, indicating lasting behavioral shifts

Consumer Adoption and Usage Trends Interpretation

With 65% of consumers favoring digital wallets over traditional cards and contactless payment transactions soaring by 35% in 2023—propelled further by AI, 5G, and biometric trust—the payment industry is not just transforming; it's racing toward a cashless, biometric, and globally connected future where digital payment users are projected to hit 4.4 billion by 2025.

Fraud Prevention

The use of AI for fraud detection in payment systems reduced false positives by 45% in 2023
The use of machine learning algorithms to detect payment fraud increased by 60% in 2023, resulting in a more than 50% reduction in fraud losses in some regions
Digital payment fraud attempts increased by 25% in 2023, prompting greater investments in fraud prevention tools

Fraud Prevention Interpretation

As digital payment fraud attempts surge by 25% in 2023, the industry's rapid embrace of AI and machine learning—cutting false positives by 45% and reducing fraud losses by over half—proves that cybercrime may be advancing faster, but so is the tech to outsmart it.

Fraud Prevention, and Authentication

Digital identity verification solutions reduced onboarding fraud cases by 30% in 2023, according to industry reports

Fraud Prevention, and Authentication Interpretation

With a 30% dip in onboarding fraud in 2023, digital identity verification proves that sometimes, a smart swipe can be smarter than fraudsters trying to swipe their way in.

Market Growth and Investment

The global digital payment market is projected to reach $10.7 trillion by 2027, growing at a CAGR of 13.7%
The global contactless card market is expected to grow at a CAGR of 12.1% from 2023 to 2030
58% of financial institutions are exploring or have adopted AI-powered chatbots to improve customer support for payments
The percentage of cross-border digital payment transactions increased by 20% in 2023, facilitating global commerce
The integration of IoT devices in payment processing is anticipated to grow by 55% in the next three years, enabling contactless and automated payments
The total transaction value of digital payments in Latin America is projected to reach $600 billion in 2025, a rise of 75% from 2022
Digital payment adoption among small and medium enterprises (SMEs) increased by 45% in 2023, reflecting a shift towards automation and e-commerce
The number of biometric payment card issuances worldwide surpassed 10 million in 2023, emphasizing a shift towards more secure card payments
The global digital payment security market is projected to grow at a CAGR of 15.8% from 2023 to 2030, reaching $25 billion
Blockchain infrastructure investments by financial institutions in the payments sector increased by 80% in 2023, signaling strong confidence in distributed ledger technology
The adoption of mobile point-of-sale (mPOS) devices grew by 33% globally in 2023, expanding the reach of digital payment acceptance
The volume of digital remittances increased by 60% in 2023, easing cross-border money transfers
The global market for digital payment hardware, including POS terminals and biometric readers, is expected to reach $15 billion by 2026, with a CAGR of 8.2%
Cryptocurrency payment acceptance increased by 55% in 2023, driven by merchant interest and consumer demand

Market Growth and Investment Interpretation

The rapidly accelerating pace of digital payments—from biometric cards surpassing 10 million issued to an 80% surge in blockchain investments—underscores that in the world of finance, going digital isn't just an option, it's the only way forward.

Merchant and Cross-Border Payment Trends

Over 40% of merchants worldwide now accept cryptocurrencies as part of their payment options

Merchant and Cross-Border Payment Trends Interpretation

With over 40% of global merchants embracing cryptocurrencies, it's clear that digital transformation in payments is not just a trend but a seismic shift that challenges traditional financial boundaries.

Security

48% of consumers have abandoned a digital payment due to security concerns
The use of tokenization in payment systems increased by 70% in 2023, enhancing security for card-not-present transactions

Security Interpretation

With nearly half of consumers wary of digital payments due to security fears, the 70% surge in tokenization in 2023 serves as a vital security shield, proving that in the payment industry, trust isn't just built—it's tokenized.

Security, Fraud Prevention, and Authentication

82% of financial institutions plan to increase investments in AI for payment security in 2024
Up to 70% of fraud in the payment industry is now linked to digital channels
60% of large merchants plan to adopt biometric authentication for payments by 2025
Digital payment fraud losses globally are estimated at $33 billion annually
The implementation of biometric security into payment cards increased transaction security by 65%, according to a 2023 survey
Over 80% of payment service providers prioritize cybersecurity upgrades in their digital transformation initiatives
Digital fraud detection systems that incorporate AI processed over 10 billion transactions in 2023, showing increasing reliance on automation
54% of financial institutions have integrated biometric verification into mobile banking apps for payments, improving security
Over 90% of digital payment platforms now incorporate multi-factor authentication to enhance security, up from 75% in 2021

Security, Fraud Prevention, and Authentication Interpretation

As financial institutions ramp up AI investments and biometric security measures amidst soaring digital fraud losses—estimated at $33 billion annually—the industry's digital transformation is racing to outsmart cybercriminals, with over 80% prioritizing cybersecurity upgrades and AI processing over 10 billion transactions in 2023, proving that in the payment card industry, innovation is the best defense against the $33 billion question of fraud.

Technological Innovations and Infrastructure

78% of payment card issuers have adopted digital transformation strategies as of 2023
Over 50% of banks worldwide have implemented blockchain-based payment systems
85% of banks have integrated APIs to enable seamless digital payment services
75% of financial services firms have adopted cloud computing solutions for payment processing
90% of POS terminals in developed countries support contactless payments as of 2023
47% of payment processors utilize machine learning models for transaction risk assessment, up from 20% in 2020, demonstrating technological advances
59% of financial institutions have adopted or are exploring open banking initiatives to facilitate innovative payment solutions

Technological Innovations and Infrastructure Interpretation

As the payment industry swiftly marches into a digitally driven era, with nearly all banks embracing blockchain, APIs, and cloud solutions while nearly half harness machine learning for security, it’s clear that the days of cash and manual processes are giving way to an interconnected, frictionless financial future—proof that in payments, the only constant is innovation.