GITNUXREPORT 2025

Digital Transformation In The Payments Industry Statistics

Digital payments dominate industry, with rapid growth, innovative tech, and rising security.

Jannik Linder

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

First published: April 29, 2025

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Statistic 1

55% of consumers prefer digital payment methods over cash

Statistic 2

Over 70% of UK consumers use digital banking apps for payments

Statistic 3

64% of consumers worldwide prefer mobile banking over visiting branches

Statistic 4

Around 50% of consumers globally are willing to use biometric authentication for their payments

Statistic 5

65% of consumers prefer paying with their smartphones over cards

Statistic 6

88% of consumers trust mobile payments more than cash

Statistic 7

50% of millennials worldwide are willing to use cryptocurrencies for everyday transactions

Statistic 8

Over 65% of consumers in Asia-Pacific prefer mobile payments over cash

Statistic 9

62% of consumers prefer digital contactless payments during the COVID-19 pandemic

Statistic 10

45% of businesses plan to add cryptocurrencies to their payment options within the next two years

Statistic 11

75% of global payments will be digital by 2025

Statistic 12

Digital wallets are used by over 1.2 billion people worldwide

Statistic 13

Mobile payments are expected to account for 72% of all ecommerce sales by 2024

Statistic 14

Contactless payments increased by 40% globally during 2020-2022

Statistic 15

Europe saw a 35% increase in digital payments during the COVID-19 pandemic

Statistic 16

60% of small to medium-sized enterprises have adopted digital payment solutions

Statistic 17

Bitcoin and other cryptocurrencies are now accepted by over 15,000 merchants worldwide

Statistic 18

The global digital payments market is projected to reach $10 trillion in transactions by 2027

Statistic 19

Contactless payments are projected to surpass $1 trillion in transaction volume by 2024

Statistic 20

The number of instant payment transactions globally increased by 300% between 2019-2022

Statistic 21

45% of merchants worldwide have adopted QR code payments

Statistic 22

Digital-only banks hold 15% of the global banking market share as of 2023

Statistic 23

Alibaba’s Alipay processes over 80 billion transactions annually

Statistic 24

Google Pay and Apple Pay together account for approximately 45% of the US mobile payment market

Statistic 25

90% of online transactions involve some form of digital payment

Statistic 26

Rise of buy now, pay later (BNPL) solutions has led to a 50% increase in installment payments over the last three years

Statistic 27

The use of NFC (Near Field Communication) for payments increased by 45% in 2022

Statistic 28

The global contactless payments market is projected to grow at a CAGR of 10% from 2023 to 2028

Statistic 29

Digital wallet transactions are expected to reach $13 trillion globally by 2025

Statistic 30

The number of embedded payments in apps and platforms increased by 55% in 2023

Statistic 31

Global P2P (peer-to-peer) payments are projected to surpass $600 billion by 2024

Statistic 32

Over 80% of financial services providers plan to increase their investments in digital payments infrastructure by 2025

Statistic 33

The use of AI in payment solutions is projected to grow at a CAGR of 35% through 2027

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The increase in cross-border digital payments has averaged 20% annually over the last five years

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Real-time payments are used in over 50 countries across all continents

Statistic 36

The average transaction value in digital payments is rising by 15% annually

Statistic 37

The percentage of digital payments processed via open banking APIs increased by 45% in 2022

Statistic 38

The adoption of AI-driven chatbots in payments is expected to grow by 40% annually through 2026

Statistic 39

The overall digital payments transaction volume in Latin America is projected to grow by 65% over the next five years

Statistic 40

Subscription-based payment models are growing at an annual rate of 30%, with increased adoption in digital services

Statistic 41

Cloud-based payment processing platforms are projected to grow at a CAGR of 20% through 2028

Statistic 42

The global mobile point-of-sale (mPOS) market is expected to reach $25 billion by 2027

Statistic 43

80% of financial institutions see APIs as critical to their digital transformation strategy

Statistic 44

Blockchain technology is being adopted by 65% of financial institutions for payment processing innovations

Statistic 45

Cryptocurrencies are increasingly integrated with payment processors, with over 60% of processors offering crypto payment options

Statistic 46

Fintech startups accounted for 20% of all new payment industry innovations in 2022

Statistic 47

70% of banks have adopted or are planning to adopt open banking APIs by 2025

Statistic 48

80% of financial institutions are working on or implementing instant payment solutions

Statistic 49

Digital payment fraud losses amount to over $40 billion globally each year

Statistic 50

The adoption rate of biometric authentication for payment security reached 75% among financial services in 2023

Statistic 51

The global market for digital payment security is expected to reach $45 billion by 2028

Statistic 52

Adoption of tokenization in payments can reduce fraud by up to 70%

Statistic 53

55% of financial institutions have implemented or plan to implement biometric authentication for payments by 2025

Statistic 54

Digital payment fraud attempts increased by 30% from 2020 to 2022

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Sources

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Key Highlights

75% of global payments will be digital by 2025
Digital wallets are used by over 1.2 billion people worldwide
Mobile payments are expected to account for 72% of all ecommerce sales by 2024
55% of consumers prefer digital payment methods over cash
Contactless payments increased by 40% globally during 2020-2022
Europe saw a 35% increase in digital payments during the COVID-19 pandemic
60% of small to medium-sized enterprises have adopted digital payment solutions
Bitcoin and other cryptocurrencies are now accepted by over 15,000 merchants worldwide
The global digital payments market is projected to reach $10 trillion in transactions by 2027
Over 70% of UK consumers use digital banking apps for payments
80% of financial institutions see APIs as critical to their digital transformation strategy
Digital payment fraud losses amount to over $40 billion globally each year
64% of consumers worldwide prefer mobile banking over visiting branches

With over 75% of global payments set to go digital by 2025, the payments industry is experiencing a seismic shift powered by innovative technologies, changing consumer preferences, and unprecedented growth in mobile and contactless payment solutions.

Consumer Preferences and Behavior

55% of consumers prefer digital payment methods over cash
Over 70% of UK consumers use digital banking apps for payments
64% of consumers worldwide prefer mobile banking over visiting branches
Around 50% of consumers globally are willing to use biometric authentication for their payments
65% of consumers prefer paying with their smartphones over cards
88% of consumers trust mobile payments more than cash
50% of millennials worldwide are willing to use cryptocurrencies for everyday transactions
Over 65% of consumers in Asia-Pacific prefer mobile payments over cash
62% of consumers prefer digital contactless payments during the COVID-19 pandemic

Consumer Preferences and Behavior Interpretation

As digital payment preferences surge across the globe—from mobile banking to cryptocurrencies—marketers and financial institutions must recognize that the future of money is not only digital but also trust-driven, age-defying, and increasingly biometric.

Cryptocurrencies and Blockchain Developments

45% of businesses plan to add cryptocurrencies to their payment options within the next two years

Cryptocurrencies and Blockchain Developments Interpretation

With nearly half of businesses eyeing cryptocurrencies for future transactions, digital payments are on the cusp of turning from a trend into the new standard—proving that in the world of finance, change isn't just coming, it's already here.

Digital Payment Adoption and Market Growth

75% of global payments will be digital by 2025
Digital wallets are used by over 1.2 billion people worldwide
Mobile payments are expected to account for 72% of all ecommerce sales by 2024
Contactless payments increased by 40% globally during 2020-2022
Europe saw a 35% increase in digital payments during the COVID-19 pandemic
60% of small to medium-sized enterprises have adopted digital payment solutions
Bitcoin and other cryptocurrencies are now accepted by over 15,000 merchants worldwide
The global digital payments market is projected to reach $10 trillion in transactions by 2027
Contactless payments are projected to surpass $1 trillion in transaction volume by 2024
The number of instant payment transactions globally increased by 300% between 2019-2022
45% of merchants worldwide have adopted QR code payments
Digital-only banks hold 15% of the global banking market share as of 2023
Alibaba’s Alipay processes over 80 billion transactions annually
Google Pay and Apple Pay together account for approximately 45% of the US mobile payment market
90% of online transactions involve some form of digital payment
Rise of buy now, pay later (BNPL) solutions has led to a 50% increase in installment payments over the last three years
The use of NFC (Near Field Communication) for payments increased by 45% in 2022
The global contactless payments market is projected to grow at a CAGR of 10% from 2023 to 2028
Digital wallet transactions are expected to reach $13 trillion globally by 2025
The number of embedded payments in apps and platforms increased by 55% in 2023
Global P2P (peer-to-peer) payments are projected to surpass $600 billion by 2024
Over 80% of financial services providers plan to increase their investments in digital payments infrastructure by 2025
The use of AI in payment solutions is projected to grow at a CAGR of 35% through 2027
The increase in cross-border digital payments has averaged 20% annually over the last five years
Real-time payments are used in over 50 countries across all continents
The average transaction value in digital payments is rising by 15% annually
The percentage of digital payments processed via open banking APIs increased by 45% in 2022
The adoption of AI-driven chatbots in payments is expected to grow by 40% annually through 2026
The overall digital payments transaction volume in Latin America is projected to grow by 65% over the next five years

Digital Payment Adoption and Market Growth Interpretation

With over 75% of global payments going digital by 2025 and transaction volumes soaring toward $10 trillion, the payments industry is clearly sprinting into an era where cash is king no more, and every swipe, tap, and scan signals a world increasingly wired for instant, contactless, and cryptic transactions — proving that if you’re not digital yet, you’re probably still writing a check in the past.

Market Growth

Subscription-based payment models are growing at an annual rate of 30%, with increased adoption in digital services
Cloud-based payment processing platforms are projected to grow at a CAGR of 20% through 2028
The global mobile point-of-sale (mPOS) market is expected to reach $25 billion by 2027

Market Growth Interpretation

As subscription-based models soar, cloud platforms flourish, and mobile point-of-sale markets skyrocket, the payments industry is not just transforming—it's boldly going where digital commerce has never gone before.

Payment Technologies and Innovation

80% of financial institutions see APIs as critical to their digital transformation strategy
Blockchain technology is being adopted by 65% of financial institutions for payment processing innovations
Cryptocurrencies are increasingly integrated with payment processors, with over 60% of processors offering crypto payment options
Fintech startups accounted for 20% of all new payment industry innovations in 2022
70% of banks have adopted or are planning to adopt open banking APIs by 2025
80% of financial institutions are working on or implementing instant payment solutions

Payment Technologies and Innovation Interpretation

With APIs and blockchain leading the charge, and cryptocurrencies becoming mainstream payment options, the payment industry is rapidly transforming from traditional corridors into a digital frontier—where fintech startups are the nimble pioneers, and banks wrestle to keep pace through open banking and instant payments.

Security and Fraud Prevention

Digital payment fraud losses amount to over $40 billion globally each year
The adoption rate of biometric authentication for payment security reached 75% among financial services in 2023
The global market for digital payment security is expected to reach $45 billion by 2028
Adoption of tokenization in payments can reduce fraud by up to 70%
55% of financial institutions have implemented or plan to implement biometric authentication for payments by 2025
Digital payment fraud attempts increased by 30% from 2020 to 2022

Security and Fraud Prevention Interpretation

As digital payment fraud losses skyrocket past $40 billion annually and attempts surge by 30%, the rapid adoption of biometric authentication and tokenization—aiming to cut fraud by up to 70%—underscores that in the race for secure transactions, technology is both the shield and the sword.