GITNUX MARKETDATA REPORT 2024

Global Payments Industry Statistics [Fresh Research]

Highlights: The Most Important Global Payments Industry Statistics

  • The global payments industry will rise to $2.7 trillion by 2023.
  • Cross-border transactions volume reached $40.6 trillion in 2019.
  • The average annual growth of the global payments industry is expected to be about 6% from 2020 to 2027.
  • Non-cash transactions globally are predicted to exceed 1 trillion by 2023.
  • The Asia-Pacific region is anticipated to have the highest growth rate in the global payment industry, with an expected CAGR of 9% till 2026.
  • Mobile payment technologies make up about 41% of payment gateway transactions.
  • Contactless payments are predicted to reach over $18 billion by 2025.
  • The online segment of the global payment industry is predicted to generate revenue of about $180.5 billion by 2025.
  • By 2025, blockchain in the payments industry is expected to grow at a CAGR of 82.4%.
  • Global remittances reached $689 Billion in 2021.
  • Integrated payment solutions are expected to reach a value of about $130 billion by 2025.
  • By 2025, the global real-time payments market size is expected to hit $39.02 billion.
  • The processing solutions segment is anticipated to dominate the global payments market at a CAGR of 8.9% from 2020-2027.
  • E-commerce accounts for about 89% of the digital payment transactions amounting to $4.7 Trillion in 2019.
  • China is currently the world’s largest digital payments market valued at $1.7 trillion.
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In today’s digital and globally interconnected era, the payments industry has been experiencing an unprecedented transformation. Now, more than ever, it is vital to understand the evolving landscape of the global payments industry. This blog post dives deep into the most recent and noteworthy statistics and trends within this dynamic industry. From the increasing dominance of digital transactions to the shifting patterns caused by socio-economic factors, we aim to provide you with comprehensive insights, painting an authentic picture of the global payments sector as it stands today and its trajectory for the future. Stay with us as we navigate through the fascinating world of global payment industry statistics and their implications for businesses and consumers alike.

The Latest Global Payments Industry Statistics Unveiled

The global payments industry will rise to $2.7 trillion by 2023.

Brushing the crystal ball of data interpretation, we may glimpse a future filled with profound financial evolution. That whispered prophecy of the global payments industry soaring to a staggering $2.7 trillion by 2023 funnels down to potential game-changing implications in the landscape of global finance.

In the crosshairs of our data telescope, this projected augmentation injects fuel to the blog’s premise about Global Payments Industry statistics. It’s a siren call for both industry stakeholders and market enthusiasts drawing attention to this financial leviathan. Post 2023, any business worth their salt in payments industry would need to adapt to this growth, potentially reshaping their strategic blueprint to keep pace.

Much like understanding the pulse and rhythm of the market, this $2.7 trillion valuation prophecy serves as a compass guiding the readers. The monumental climb underscores the industry’s sustainability, growth prospects, and the scale of breakthrough innovations it’s set to unfurl. In the global financial symphony, it signifies an overture to a whole new act, where adaptability will be paramount to thrive or merely survive.

Cross-border transactions volume reached $40.6 trillion in 2019.

Highlighting the fact that the volume of cross-border transactions achieved a stupendous $40.6 trillion in 2019 casts an impressive light on the vast and pulsating heart of the global payments industry. Indeed, this figure not merely punctuates the narrative, but it serves as a powerful testament to the industry’s indomitable growth and the increasing ease and convenience of carrying out international transactions. It sends a clear signal about the monumental scale at which money exchanges hands internationally, providing a testament to the advancement in the payment processing technology. This, in turn, attests to the benefits of globalization, the reduction of trade barriers, and the robustness of digital financial infrastructure. So, it’s not just a number, it is a mirror reflecting the hyper-connected, interdependent world of global finance.

The average annual growth of the global payments industry is expected to be about 6% from 2020 to 2027.

Delving into this intriguing figure, a projected annual growth of around 6% for the global payments industry from 2020 to 2027 speaks volumes about the dynamic and promising future of the sector. Underneath this impressive figure, one uncovers a tale of technological innovation, shifting consumer behaviors, and evolving regulatory landscapes that are collectively driving this upwards trajectory.

Such a statistic forms the cornerstone of understanding the broader trends in the global payments industry. Picture it as a barometer, indicating the tempo at which the sector is set to expand, highlighting potential areas of opportunities and challenges for stakeholders. This projection, woven into the fabric of a blog post about Global Payments Industry Statistics, serves as an imperative guiding light illuminating the path the industry is tread along, making it an essential piece in our jigsaw of comprehension.

Non-cash transactions globally are predicted to exceed 1 trillion by 2023.

Forecasting a leap to over 1 trillion non-cash transactions by 2023 paints an astonishing picture of evolving finance world. For anyone keeping an eye on the Global Payments Industry Statistics, this figure stands as a wealth of opportunity, heavily hinting towards an uncompromising ascend in the cashless society.

This statistic is a loud proclamation that digital transformation is accelerating and successfully catalyzing the momentum of the payments industry. It underscores the advancing consumer preferences for speed, convenience, and security, which are driving the shift from traditional cash payments to digital alternatives.

Translating to unraveling fresh revenue opportunities, it encourages businesses to keep pace with technology, adapt to ever-changing payment landscapes, and invest in non-cash payment solutions. Additionally, it signifies that in the global race to digital payments, entities slow to embrace this change may lag behind or worse, face extinction.

Thus, it is not just a future prediction; it is a reflection of an ongoing revolution which holds significant implications for businesses, consumers, financial institutions, and even regulators involved in the payments industry.

The Asia-Pacific region is anticipated to have the highest growth rate in the global payment industry, with an expected CAGR of 9% till 2026.

Highlighting this statistic underscores the potential of the Asia-Pacific region as a critical growth engine in the global payments industry landscape. It helps to set the stage for a broader narrative about how trends and technologies are taking shape at varying paces across the globe. By delineating this differential growth rate, it points to the pivotal role that this region, with its unique market dynamics and technological advancements, can play in reshaping the global payments ecosystem up until 2026. Furthermore, illuminating this statistic offers strategic value for stakeholders contemplating investments in this space, providing a directional compass towards high-growth markets.

Mobile payment technologies make up about 41% of payment gateway transactions.

In the grand panorama of the global payments industry, picturing mobile payment technologies shouldering approximately 41% of payment gateway transactions is a testament to their significant influence. This digital tide is reshaping the traditional cash/credit paradigm of the commerce world, further highlighting the escalating interest and confidence in using mobile devices for purchases. As ripples on the grand economic lake, this trend signifies a shift to a more digitized, efficient, and accessible method of transaction, subsequently highlighting the urgency for businesses globally to adapt to this technology for better consumer engagement and consequently, revenue growth.

Contactless payments are predicted to reach over $18 billion by 2025.

The exhilarating pace at which the contactless payments are projected to inflate to over $18 billion by 2025 paints a riveting canvas of the future trends in the Global Payments Industry. This captivating figure does more than just satiate our quest for knowledge; it immerses us in the depths of understanding the evolving dynamics of customer behavior and the ever-increasing technological ingenuity. It maps out the upward trajectory of the digital revolution in payments, demonstrating the remarkable shift from traditional to contactless payment mechanisms. Most intriguingly, it echoes the implications for businesses: the necessity to adapt, innovate, and align with this trend, weaving it seamlessly into their fabric to ensure financial survival and growth. This prediction, like a beacon, guides us through the economic labyrinth, highlighting opportunities in the payments industry waiting to be seized.

The online segment of the global payment industry is predicted to generate revenue of about $180.5 billion by 2025.

All eyes should turn towards the hefty prediction of the online segment in the global payment industry, an expected monumental revenue generation of approximately $180.5 billion by 2025. This prominent figure unveils the shifting tides of payment methods that favor online transactions. Into our narrative of Global Payments Industry Statistics, this fact slides effortlessly, expanding vivid insights about the pace at which digital transformation is influencing the payments landscape. An understanding of this statistic is valuable for industry leaders, offering them a numeric glimpse into the future, thus enabling informed decision making, investing, and strategic planning. Moreover, it underscores the powerful ascent of e-commerce, mobile banking, and digital payments, highlighting a rapid technological evolution that none can afford to ignore.

By 2025, blockchain in the payments industry is expected to grow at a CAGR of 82.4%.

Envisioning the future canvas of the global payments industry, the forecasted 82.4% CAGR of blockchain technology by 2025 isn’t just a statistic, it’s a prophecy of an impending revolution. A revolution that embodies decentralization, enhanced security, and real-time asset transfer. This prediction underscores a wave of transformation that will redefine how transactions are processed, shifting from traditional methods to more streamlined and secure blockchain protocols.

Amidst a sea of numbers and trends, this intriguing surge emphasizes the potential of this breakthrough technology, reinforcing its significance in the future narratives of global payments. Evidently, investors, technologists, and industry players can no longer afford to merely dip their toes, they must plunge headfirst into the blockchain waters to ride this colossal wave of change. The implications of this statistic straddle beyond mere financial arithmetic, shaping a new frontier for the payments industry that’s not just inevitable but imminent.

Global remittances reached $689 Billion in 2021.

With the global remittances hitting the staggering mark of $689 billion in 2021, it provides a remarkable testament to the growing, dynamic nature of the global payments industry. Such a significant figure offers a glimpse into the increasing globalization and interconnectedness of our world economy, reflecting the heightened movement of people and their finances across international borders. These figures, thus, essentially draw an intriguing reflection of the global payments industry’s vitality, mapping its pulse, and predicting the course it might follow. They hold critical insights for stakeholders to understand market trends, consumer behavior, and the potential scope for innovation in this nexus of finance and technology. Astounding numbers like these make a potent case for businesses to pivot and adapt in the evolving landscape of the global payments industry.

Integrated payment solutions are expected to reach a value of about $130 billion by 2025.

Exploring the global payments industry through the lens of statistics, one figure leaps off the page: the tantalizing prospect of Integrated payment solutions amassing a valuation close to $130 billion by 2025. That such a robust figure is projected for this sector indicates a tremendous growth opportunity for aspiring players in the market. More than simply a numerical benchmark, this forecast paints a vivid portrait of the evolving financial landscape, showcasing the increasing interest and trust in integrated payment systems. This precipitous expansion adds depth to our understanding of the shifting tides within the global payments industry, highlighting the integral role that these systems are set to play in the fabric of future transactions.

By 2025, the global real-time payments market size is expected to hit $39.02 billion.

Diving into the rich tapestry of Global Payments Industry Statistics, the future seemingly comes alive as the projection of $39.02 billion by 2025 surfaces for the global real-time payments market size. This exponentially increasing figure not only acts as a beacon of potential profit and growth for businesses venturing within this avenue, but it also underlines a massive shift in consumer behaviour towards real-time payments. It signifies a world more connected, quicker and demanding immediate transactions – changing the game of how money exchanges hands across the globe. In the grand scheme of the payment industry panorama, these numbers paint an enlightening picture of an era where efficiency and speed stand as unassailable kings. They serve as a compass for businesses setting their sails towards more instantaneous and seamless payment solutions. They ultimately mirror a future where real-time payments don’t just survive, but thrive, dictating the dynamics of money flow worldwide.

The processing solutions segment is anticipated to dominate the global payments market at a CAGR of 8.9% from 2020-2027.

Framing the landscape of the global payments industry, one key metric stands out: The processing solutions sector is poised to take the reins, with an anticipated CAGR of 8.9% from 2020-2027. Here’s the rub: This prediction is more than just a number—it’s an indicator of the shifting dynamics in the payments marketplace. As we delve into it, this projection points to pivotal growth within the processing solutions arena, asserting its dominance over other market segments. It sets the tempo for industry trends, technological evolution, and investment potential, making it an indispensable reference as we chart the future trajectory of the global payments industry.

E-commerce accounts for about 89% of the digital payment transactions amounting to $4.7 Trillion in 2019.

In the digital ages, numbers do not merely represent values; they paint a vivid picture showcasing the dynamism of technology and its impact on our economy. The riveting statistic that e-commerce represents approximately 89% of the digital payment transactions equating to $4.7 Trillion in 2019, fosters a comprehensive insight into the current payments landscape globally. Such data showcases the dominant role that e-commerce has played in revolutionizing the digital payments industry. Glancing into this statistic, it becomes evident how extensively people across the globe have adopted online shopping, turning the concept of cashless economies from a distant dream into a thriving reality. This incredible surge in digital transactions via e-commerce gives companies, innovators, and entrepreneurs, information they need to strategize their future moves, embrace the cashless trend, and invest in secure digital payment platforms. Hence, for a blog post about Global Payments Industry Statistics, this datum is nothing short of a pulsating heartbeat, reflecting the thriving life of the digital payments world.

China is currently the world’s largest digital payments market valued at $1.7 trillion.

In the grand arena of the Global Payments Industry, China reigns supreme with its digital payments market soaring at a colossal worth of $1.7 trillion. This majestic figure does not only stand as a testament to the advanced digitization of the nation but also paints a significant picture of the shifting paradigm in global finance.

From the lens of this lofty statistic, we are clued into the level of technology-driven economics in China, but from a broader perspective, it sends out ripples of implications for the global payments landscape. It underscores the accelerated pace at which digital payments are being embraced worldwide, setting the stage for a future where cash might lose its longstanding dominion.

China’s commanding lead in digital payments also signals a robust infrastructure that encourages the growth of e-commerce and fosters financial inclusivity. Moreover, it propounds the potential for other markets to gear up in the face of this digital wave.

In offering a grasp of China’s dominant position, this statistic lights the path for companies and markets across the globe, encouraging them to adapt, innovate, and succeed in an increasingly cashless world.

Conclusion

From the comprehensive review of the Global Payments Industry Statistics presented in this blog post, it’s clear that the payments industry is continually evolving, fueled by advancements in technology, changes in consumer behaviour, regulatory reforms, and market dynamics. Digital payments take the lead, promising convenience, speed, and security, while traditional methods persist due to familiarity and accessibility. The projected growth in the coming years reveals a flourishing industry, with Asia leading the surge. Understanding these trends and statistics is beneficial for businesses, investors, and even consumers as they navigate this rapidly shifting landscape. As we forge ahead, such insights will be instrumental in shaping the future of the global payments industry.

References

0. – https://www.www.globenewswire.com

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3. – https://www.www.bcg.com

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6. – https://www.www.statista.com

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8. – https://www.www.grandviewresearch.com

9. – https://www.www.worldbank.org

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FAQs

What is the global payments industry?

The global payments industry refers to the economic sector that provides businesses and consumers transactional services, including payment gateways, point-of-sales systems, online transactions, and mobile payments. It involves various players such as banks, fintech firms, credit card companies, and other financial institutions.

What is the current size of the global payments industry?

As of 2021, the global payments industry is valued at approximately $2 trillion and is expected to grow considerably in the next few years, primarily driven by the increase in digital transactions.

What factors are driving the growth of the global payments industry?

Several factors are driving the growth of the global payments industry, including the shift to cashless transactions, advancement in technology, increased use of smartphones, rise in e-commerce, and continued growth of fintech firms. Regulation and changes in consumer behavior, particularly during the COVID-19 pandemic, have also played a significant role.

Which region is leading in the global payments industry?

As of now, Asia-Pacific (APAC) dominates the global payments industry, primarily due to the rise of mobile payments and e-commerce in countries like China and India. However, North America and Europe also have significant market shares.

What challenges does the global payments industry face?

Some of the key challenges for the global payments industry include compliance with increasingly stringent regulations, addressing privacy and security concerns, integrating new technologies while maintaining system stability, and competition from non-traditional firms, particularly technology companies entering the payments sector.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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