Gitnux/Report 2026

HR in the Payments Industry Statistics

With 1,662 ransomware incidents reported in 2024—and an average cost of $13.3M—HR must build teams that can detect fraud faster. See the data.
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July 21, 2026Updated
HR in the Payments Industry Statistics
James OkoroWritten by James Okoro·Edited by Rachel Svensson·Fact-checked by Rajesh Patel
Published ·Updated
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HR in the payments industry sits where fast digital rails meet real operational and fraud risk. This page connects workforce scale across financial services with adoption of real-time payments, open banking, and cloud infrastructure. It also highlights the hiring implications of rising threats like ransomware, account takeover, and chargebacks—plus the growing need for KYC/AML, digital identity checks, and machine-learning fraud detection.

Key Takeaways

  • 2.6 million payments employees worked in the US in 2023, indicating employment scale for payment-related services
  • 11.4% of US workers were employed in finance and insurance in 2023, a proxy for the broader financial services labor footprint supporting payments
  • 1.2 million jobs in the US were in securities, commodities, and financial services as of 2022, reflecting staffing underlying payment markets
  • 1,662 ransomware incidents were reported in the 2024 Verizon Data Breach Investigations Report (DBIR), relevant to payment fraud/operations risk
  • The EU PSD2 framework took effect on 13 January 2018, enabling open banking and payment initiation growth relevant to payments
  • Digital payments are projected to grow at a CAGR of 13.4% from 2023 to 2028 globally, showing expansion rate for electronic payment types
  • The global payment processing outsourcing market is expected to grow to $21.8 billion by 2027
  • Global digital identity verification market size reached $3.7 billion in 2023, supporting identity and KYC checks in payments
  • Real-time payments are expected to reach 65 billion transactions globally by 2024, projecting fast-payment volume growth
  • BNPL market size is forecast to reach $1.2 trillion by 2027, showing growth of credit-based payment products
  • Real-time payments in Europe are expected to exceed 35 billion transactions annually by 2026, indicating future scaling of RTP rails
  • UPI recorded 19.6 billion transactions in May 2024, indicating strong ongoing month-over-month usage growth
  • In 2023, 71% of UK adults used online banking, which is a common customer entry point for payment initiation and transfers
  • In 2024, 58% of shoppers in a global survey said they used digital wallets for online purchases, indicating wallet adoption
  • Fraud losses in payments were estimated at $270.9 billion globally in 2023 across financial fraud categories, highlighting economic risk

Payments hiring and digital growth are accelerating alongside rising fraud and ransomware risks.

Related reading

02 · Category

Labor & Workforce4 stats

01
2.6 million payments employees worked in the US in 2023, indicating employment scale for payment-related services[7]
02
11.4% of US workers were employed in finance and insurance in 2023, a proxy for the broader financial services labor footprint supporting payments[8]
03
1.2 million jobs in the US were in securities, commodities, and financial services as of 2022, reflecting staffing underlying payment markets[7]
04
6.3 million people were employed in financial activities in the US in 2023, representing labor capacity tied to payment processing ecosystems[9]
Interpretation

Labor & Workforce Interpretation

In 2023, the payments labor footprint was sizable and interconnected, with 2.6 million payments employees in the US and an additional 6.3 million working in financial activities overall, underscoring that Labor & Workforce demand in payments is sustained by a much broader financial services employment base.

03 · Category

Market Size4 stats

01
Digital payments are projected to grow at a CAGR of 13.4% from 2023 to 2028 globally, showing expansion rate for electronic payment types[10]
02
The global payment processing outsourcing market is expected to grow to $21.8 billion by 2027[11]
03
Global digital identity verification market size reached $3.7 billion in 2023, supporting identity and KYC checks in payments[12]
04
The KYC/AML software market was valued at $5.8 billion in 2023 and is projected to reach $13.1 billion by 2028[10]
Interpretation

Market Size Interpretation

The payments industry’s market for enabling technologies and services is expanding fast, with digital payments projected to grow at a 13.4% CAGR from 2023 to 2028 and identity and KYC demand rising as the KYC/AML software market grows from $5.8 billion in 2023 to $13.1 billion by 2028, signaling robust Market Size growth across the ecosystem.

More related reading

04 · Category

User Adoption4 stats

01
UPI recorded 19.6 billion transactions in May 2024, indicating strong ongoing month-over-month usage growth[6]
02
In 2023, 71% of UK adults used online banking, which is a common customer entry point for payment initiation and transfers[13]
03
In 2024, 58% of shoppers in a global survey said they used digital wallets for online purchases, indicating wallet adoption[14]
04
In 2024, 29% of US consumers reported using BNPL at least once in the past 12 months, reflecting consumer uptake of payment credit[15]
Interpretation

User Adoption Interpretation

User adoption in payments is clearly accelerating, with UPI hitting 19.6 billion transactions in May 2024 alongside strong digital entry points like 71% online banking use in the UK, 58% global digital wallet adoption for online purchases, and 29% of US consumers using BNPL in the past year.

05 · Category

Market Infrastructure3 stats

01
37% of organizations used cloud for their payments environment (2023) — indicates infrastructure shift relevant to payment processing services[4]
02
2.1% year-over-year growth in global electronic payment transactions (2023) — indicates ongoing momentum in payment processing workloads[16]
03
USD 127.2 billion was the global spend on payment security services in 2023 — indicates dedicated budget for safeguarding payments[17]
Interpretation

Market Infrastructure Interpretation

In market infrastructure, 37% of organizations moving their payments environments to cloud in 2023, alongside a steady 2.1% year over year rise in global electronic transactions and a USD 127.2 billion spend on payment security, signals that payment networks are scaling in volume while investing heavily in the resilient infrastructure needed to handle that growth.

06 · Category

Overview7 stats

01
1,662 ransomware incidents were reported in the 2024 Verizon Data Breach Investigations Report (DBIR), relevant to payment fraud/operations risk[18]
02
The EU PSD2 framework took effect on 13 January 2018, enabling open banking and payment initiation growth relevant to payments[19]
03
Fraud losses in payments were estimated at $270.9 billion globally in 2023 across financial fraud categories, highlighting economic risk[20]
04
USD 13.3 million average cost of a ransomware attack globally (2023) — measures ransomware financial impact relevant to payment fraud/operational risk[21]
05
The average time to detect fraud using traditional rules-based systems was 2.8 days compared with 0.7 days for machine learning models in 2023[22]
06
Transaction chargeback rates averaged 0.6% of card transactions globally in 2023, reflecting customer dispute costs for payment networks/merchants[23]
07
43% of respondents said account takeover (ATO) is 'a top concern' for their organization (2023) — indicates ATO prioritization in payment contexts[24]
Interpretation

Industry Overview Interpretation

With fraud losses hitting $270.9 billion globally in 2023 and ransomware incidents rising to 1,662 in the 2024 Verizon DBIR, the Industry Overview makes clear that payments organizations face intensifying operational and financial risk even as faster detection is becoming crucial, since fraud detection fell from 2.8 days with traditional rules to 0.7 days using machine learning.
Reference

Cite This Report

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APA
James Okoro. (2026, February 13). HR In The Payments Industry Statistics. Gitnux. https://gitnux.org/hr-in-the-payments-industry-statistics
MLA
James Okoro. "HR In The Payments Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/hr-in-the-payments-industry-statistics.
Chicago
James Okoro. 2026. "HR In The Payments Industry Statistics." Gitnux. https://gitnux.org/hr-in-the-payments-industry-statistics.

Sources & references

24 sources cited across this report

  1. businesswire.com
  2. statista.com
  3. efma.com
  4. gartner.com
  5. blueweaveconsulting.com
  6. npci.org.in
  7. bls.gov
  8. data.bls.gov
  9. fred.stlouisfed.org
  10. grandviewresearch.com
  11. alliedmarketresearch.com
  12. marketsandmarkets.com
  13. ofcom.org.uk
  14. rapids7.com
  15. consumerfinance.gov
  16. bis.org
  17. fortunebusinessinsights.com
  18. verizon.com
  19. eur-lex.europa.eu
  20. acfe.com
  21. ibm.com
  22. lexisnexisrisk.com
  23. kount.com
  24. fisglobal.com