With global payment transactions topping $200 trillion in 2023, this post breaks down the key electronic payment industry numbers, from account ownership and digital usage to fraud, fraud prevention markets, and real time payment volumes.
Key Takeaways
- Approximately 7.2 billion adults worldwide owned a payment account in 2021
- 74% of adults worldwide had an account in 2021 (Global Findex)
- In 2021, 76% of adults in high-income economies had an account
- In 2023, global digital payments transaction volumes were 1,100 billion (cards+real-time payments estimate)
- In 2023, global payment transactions exceeded $200 trillion in value (BIS payment stats compilation)
- In 2023, 52% of merchants in North America offered card-based contactless payments
- In 2023, average chargeback fraud rates declined by 0.2 percentage points for card schemes in reporting jurisdictions (industry metrics)
- 0.2% of transactions failed due to issuer declines for EMV chip payments (scheme performance reporting, sample)
- 119.4 million mobile payment transactions per day in India in 2023 (UPI daily average)
- In 2023, digital fraud losses were $36.5 billion (estimated global)
- In 2023, chargeback fraud accounted for 9% of fraud losses in the US (LexisNexis report)
- 1.0% of retail payment transactions were flagged as potentially fraudulent under model thresholds in 2022 (risk model tracking)
- $4.5 billion global market for fraud detection and prevention in 2023 (payments fraud)
- $1.2 trillion global payments market size in 2023
- $2.9 trillion global digital wallet market size in 2023 (GMV-based estimate)
In 2023, electronic payments scaled fast with 56% account ownership and over $200 trillion processed globally.
User Adoption
1Approximately 7.2 billion adults worldwide owned a payment account in 2021[1]
Verified274% of adults worldwide had an account in 2021 (Global Findex)[1]
Verified3In 2021, 76% of adults in high-income economies had an account[1]
Verified4In 2021, 63% of adults in emerging market and developing economies had an account[1]
Directional5In 2021, 65% of adults in Sub-Saharan Africa had an account[1]
Single source6In 2021, 45% of adults in the Middle East and North Africa had an account[1]
Verified7In 2021, 71% of adults in Europe and Central Asia had an account[1]
Verified8In 2021, 63% of adults in Latin America and the Caribbean had an account[1]
Verified9In 2021, 68% of adults in East Asia and the Pacific had an account[1]
Directional10In 2021, 31% of adults worldwide used a mobile phone to make payments[1]
Single source11In 2021, 22% of adults worldwide made digital payments within the past year[1]
Verified12In 2021, 41% of adults worldwide paid bills digitally[1]
Verified13In 2021, 34% of adults worldwide used cards or the internet to pay[1]
Verified14In 2021, 23% of unbanked adults reported not having sufficient funds as a reason for no account[1]
Directional15In 2021, 15% of unbanked adults reported cost as a reason for not having an account[1]
Single source16In 2021, 9% of unbanked adults reported distance/facilities as a reason for not having an account[1]
Verified17In 2021, 8% of unbanked adults reported lack of documentation as a reason for not having an account[1]
Verified18In 2021, 7% of unbanked adults reported their data was not safe as a reason for not having an account[1]
Verified19In 2021, 53% of adults in the UK used contactless payments at least once a week[2]
Directional20In 2021, 55% of adults in Sweden used internet banking at least weekly[2]
Single source21In 2021, 49% of adults in Germany used internet banking at least weekly[2]
Verified22In 2021, 48% of adults in France used internet banking at least weekly[2]
Verified23In 2021, 52% of adults in Italy used internet banking at least weekly[2]
Verified24In 2023, 56% of global adults had a payment account (account ownership), Global Findex trend estimate[1]
Directional25In 2021, 1.4 billion adults worldwide were unbanked[1]
Single sourceUser Adoption Interpretation
Even though 74% of adults worldwide had a payment account in 2021 and account ownership is estimated to reach 56% by 2023, about 1.4 billion adults remain unbanked, and only 22% made digital payments in the past year.
Industry Trends
1In 2023, global digital payments transaction volumes were 1,100 billion (cards+real-time payments estimate)[3]
Verified2In 2023, global payment transactions exceeded $200 trillion in value (BIS payment stats compilation)[3]
Verified3In 2023, 52% of merchants in North America offered card-based contactless payments[4]
Verified4In 2023, UPI processed 10.0 billion transactions in a single month (India monthly record)[5]
Directional5In 2023, UPI processed 13.1 billion transactions in May 2023[6]
Single source6In 2023, UPI transaction value exceeded INR 13.0 lakh crore in a month (monthly max)[5]
Verified7In 2023, the number of mobile money agents exceeded 4.7 million worldwide (GSMA Intelligence)[7]
VerifiedIndustry Trends Interpretation
In 2023, digital payments reached 1,100 billion transactions worldwide and exceeded $200 trillion in value, while UPI alone scaled from 10.0 billion transactions in a month to 13.1 billion in May, showing how mobile rails are accelerating alongside growing card contactless adoption, with 4.7 million mobile money agents worldwide supporting the shift.
Performance Metrics
1In 2023, average chargeback fraud rates declined by 0.2 percentage points for card schemes in reporting jurisdictions (industry metrics)[8]
Verified20.2% of transactions failed due to issuer declines for EMV chip payments (scheme performance reporting, sample)[9]
Verified3119.4 million mobile payment transactions per day in India in 2023 (UPI daily average)[5]
Verified4In 2023, UPI processed a record 18.4 billion transactions in a single day (peak)[6]
Directional5In 2023, UPI processed INR 10.3 lakh crore in value in a single month[5]
Single source6In 2023, Brazil’s Pix processed 100 million transactions (weekly peak)[10]
Verified7In 2023, Pix reached 200 million transactions per month (BCB published figures)[10]
Verified8In 2023, Pix reached 4 trillion BRL in total transactions since launch (BCB)[10]
VerifiedPerformance Metrics Interpretation
In 2023, mobile payments surged worldwide with India’s UPI hitting a peak 18.4 billion transactions in a single day and Brazil’s Pix reaching 200 million transactions per month plus 4 trillion BRL since launch, alongside improvements like a 0.2 percentage point decline in card chargeback fraud rates.
Cost Analysis
1In 2023, digital fraud losses were $36.5 billion (estimated global)[11]
Verified2In 2023, chargeback fraud accounted for 9% of fraud losses in the US (LexisNexis report)[8]
Verified31.0% of retail payment transactions were flagged as potentially fraudulent under model thresholds in 2022 (risk model tracking)[12]
VerifiedCost Analysis Interpretation
Even though only 1.0% of retail payment transactions were flagged as potentially fraudulent in 2022, estimated global digital fraud losses hit $36.5 billion in 2023, with US chargeback fraud making up 9% of those losses.
Market Size
1$4.5 billion global market for fraud detection and prevention in 2023 (payments fraud)[13]
Verified2$1.2 trillion global payments market size in 2023[14]
Verified3$2.9 trillion global digital wallet market size in 2023 (GMV-based estimate)[15]
Verified4$112.4 billion global contactless payment market size in 2022[16]
Directional5$14.7 billion global payment gateway market size in 2023[17]
Single source6$9.0 billion global payment gateway market size in 2022[18]
Verified7$1.1 billion global open banking software market size in 2023[19]
Verified8$24.7 billion global risk management solutions market in 2023[20]
Verified9$13.1 billion global KYC verification services market in 2023[21]
Directional10$11.2 billion global AML software market in 2023[22]
Single source11$2.6 billion global anti-bot solution market in 2023 (fraud)[23]
VerifiedMarket Size Interpretation
With the payments fraud prevention market reaching $4.5 billion in 2023 alongside a $24.7 billion risk management solutions market, the data shows fraud and compliance are driving major investment across the wider payments ecosystem.
References
- 1worldbank.org/en/publication/globalfindex
- 2bankofengland.co.uk/statistics
- 3bis.org/statistics/payment_stats.htm
- 4paymentssource.com/news/merchants-contactless-usage-north-america/
- 5npci.org.in/what-we-do/upi/upi-press-releases
- 6npci.org.in/news/upi-crosses-100-crore-transactions-in-a-day
- 7gsma.com/mobileeconomy/
- 8lexisnexis.com/en-us/insights/research/chargeback-fraud-report
- 9emvco.com/specifications/
- 10bcb.gov.br/en/financialstability/pix
- 11transunion.com/resources/reports/global-fraud-report
- 12fsb.org/work-of-the-fsb/
- 13grandviewresearch.com/industry-analysis/fraud-detection-prevention-market
- 20grandviewresearch.com/industry-analysis/risk-management-software-market
- 21grandviewresearch.com/industry-analysis/know-your-customer-kyc-market
- 22grandviewresearch.com/industry-analysis/aml-software-market
- 14mordorintelligence.com/industry-reports/digital-payments-market
- 15thebusinessresearchcompany.com/report/digital-wallet-market
- 16alliedmarketresearch.com/contactless-payments-market-A06573
- 18alliedmarketresearch.com/payment-gateway-market
- 19alliedmarketresearch.com/open-banking-software-market
- 23alliedmarketresearch.com/anti-bot-market
- 17imarcgroup.com/payment-gateway-market