The Payments Industry Market Report Segmented Into Mode of Payment (Point of Sale, Online Sale), End-User Industry (Retail, , Healthcare, and More), Interaction Channel (Point-Of-Sale, E-commerce/M-commerce), Transaction Type (Person-To-Person (P2P), Consumer-To-Business (C2B) and More) and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global Payments market size is expected to reach $1117.87 billion by 2029 at 9.3%, segmented as by type, credit transfer, direct debit, check payment, cash deposit

The United States Payments Market Report is Segmented by Mode of Payment (Point of Sale, Online), Interaction Channel (Point-Of-Sale, E-commerce/M-commerce), Transaction Type (P2P, C2B, B2B, Remittances and Cross-Border), End-User Industry (Retail, Entertainment and Digital Content, Healthcare, Hospitality and Travel, and More). The Market Forecasts are Provided in Terms of Value (USD).

The North America Payments Market Report is Segmented by Mode of Payment (Point of Sale, Online), Interaction Channel (Point-Of-Sale, E-commerce/M-commerce), Transaction Type (P2P, C2B, B2B, Remittances and Cross-Border), End-User Industry (Retail, Entertainment and Digital Content, Healthcare, Hospitality & Travel, and More), and Country. The Market Forecasts are Provided in Terms of Value (USD).

North America Payments Market size was valued at USD 370 Billion in 2024 and is projected to reach USD 710 Billion by 2032, growing at a CAGR of 8% from 2026 to 2032.

Key Market Drivers: Digital Payment Adoption and Mobile Wallets: The rise of digital payments has been revolutionary, propelled by shifting consumer tastes and technical innovation. According to the Federal Reserve's 2022 Payments Study, noncash payments in the United States climbed at an annual rate of 7.8% in value between 2018 and 2021, reaching $1,001.1 trillion. Mobile wallet transactions increased significantly, with the value of mobile wallet payments in North America reaching $465.1 billion in 2021.

Real-time Payment Infrastructure Development: The upgrading of payment infrastructure, particularly real-time payment systems, is changing the industry. The FedNow Service, which debuted in 2023, marks a significant breakthrough in immediate payment capacity.

Payments Market Outlook

The global payments market size was valued at approximately USD 2.7 trillion in 2023 and is projected to reach around USD 5.5 trillion by 2032, growing at a compound annual growth rate (CAGR) of 8.5% during the forecast period. The expansion of this market is primarily driven by the continuous evolution of digital technologies and the increasing preference for cashless transactions. With the rapid digitization of economies worldwide, consumer demand for fast, secure, and convenient payment methods has skyrocketed, propelling the market to new heights. Furthermore, the proliferation of smartphones and internet accessibility has facilitated the shift towards digital payments, laying the foundation for substantial growth throughout the forecast period.

One of the critical growth factors for the payments market is the advancement in technology, particularly in the realms of FinTech and digital infrastructures. Innovations such as blockchain, artificial intelligence, and machine learning have revolutionized the payments ecosystem, making transactions more efficient and secure. Blockchain technology, for example, ensures transparent and tamper-proof transactions, which significantly enhance the security of digital payments. Additionally, AI and machine learning algorithms are being employed to detect fraudulent activities in real-time, reducing the risk of financial loss and building consumer trust in digital payment platforms. The pace of technological advancement is anticipated to continue, offering lucrative opportunities for market players and fostering growth over the forecast period.

The changing consumer behavior and their increasing inclination towards seamless and convenient payment options further bolster the payments market growth. The convenience of digital wallets, contactless payments, and peer-to-peer transfers aligns with the modern consumer's lifestyle, who values speed and simplicity. The COVID-19 pandemic accelerated this shift, as people sought safer, no-contact payment alternatives, leading to a surge in the use of services like Apple Pay, Google Wallet, and PayPal. As consumers grow accustomed to these conveniences, the demand for digital payment solutions is expected to rise, encouraging businesses to integrate and expand their capabilities in this area. This shift in consumer preferences is likely to sustain the market's upward trajectory during the forecast period.

Moreover, regulatory support and government initiatives aimed at promoting digital payment systems play a pivotal role in market growth. Governments across various regions are increasingly investing in digital infrastructure and implementing policies to support digital payments as part of their broader financial inclusion strategies. For instance, many countries in the Asia Pacific and Africa are actively promoting cashless economies by incentivizing digital transactions and reducing transaction costs. These initiatives not only facilitate the widespread adoption of digital payments but also encourage innovation and competition within the market, driving growth. As such, regulatory frameworks and government endorsements are expected to remain significant catalysts for the market expansion up to 2032.

Card Payment systems have become an integral part of the digital payment landscape, offering consumers a reliable and widely accepted method for transactions. The convenience and security associated with card payments have made them a preferred choice for many, facilitating both online and offline purchases. With the advent of contactless technology, card payments have become even more user-friendly, allowing for quick and seamless transactions. This shift towards contactless card payments has been further accelerated by the global pandemic, as consumers and businesses alike seek safer and more hygienic payment methods. As a result, the card payment segment continues to evolve, with financial institutions and technology providers working together to enhance security features and user experience. The integration of biometric authentication and tokenization are examples of innovations that are being implemented to ensure that card payments remain a secure and efficient option for consumers worldwide.

Component Analysis

The payments market is structured around three primary components: software, hardware, and services, each contributing substantively to the market dynamics. In the software segment, digital platforms and applications that facilitate seamless transactions are at the f

Real-Time Payments Market Outlook

According to our latest research, the global real-time payments market size reached USD 29.6 billion in 2024, marking a significant milestone in the digital payments landscape. With a robust compound annual growth rate (CAGR) of 32.7% from 2025 to 2033, the market is projected to soar to USD 372.5 billion by 2033. This extraordinary growth trajectory is primarily fueled by the increasing demand for instant money transfers, the proliferation of smartphones, and the rapid adoption of digital banking solutions across both developed and emerging economies.

One of the primary growth drivers of the real-time payments market is the mounting consumer expectation for seamless, secure, and instantaneous financial transactions. In an era where e-commerce and digital services are integral to daily life, businesses and individuals alike require payment systems that deliver immediate value. The rise in peer-to-peer (P2P) and business-to-business (B2B) transactions, coupled with the need for faster payroll and vendor payments, has further accelerated the adoption of real-time payments platforms. Additionally, governments and regulatory bodies are increasingly supporting digital payment infrastructures, promoting interoperability, and pushing for financial inclusion, which collectively foster a favorable environment for market expansion.

Another significant factor contributing to the market’s growth is the technological advancement in payment processing solutions. The integration of artificial intelligence, machine learning, and blockchain technologies into payment gateways has enhanced both the security and efficiency of real-time transactions. These innovations not only minimize fraud risks but also enable advanced analytics, which helps businesses optimize their cash flows and improve customer engagement. Moreover, the shift towards cloud-based deployment models has made it easier for organizations of all sizes to implement and scale real-time payments solutions, eliminating the need for substantial upfront investments in IT infrastructure.

The competitive dynamics in the real-time payments market are also being shaped by strategic collaborations among financial institutions, fintech firms, and technology providers. Such partnerships are instrumental in driving innovation and expanding the reach of real-time payments networks. Furthermore, the increasing penetration of mobile devices and internet connectivity, especially in emerging markets, is unlocking new opportunities for digital payment adoption. As a result, financial service providers are focusing on developing user-friendly mobile applications and APIs to cater to the evolving needs of both retail and corporate customers.

Regionally, Asia Pacific continues to dominate the global landscape, accounting for the largest share of the real-time payments market in 2024. This is attributed to the rapid digitalization of economies such as China, India, and Southeast Asian countries, where mobile payments and government-led digital initiatives are flourishing. North America and Europe are also witnessing substantial growth, driven by the modernization of payment infrastructures and the increasing uptake of instant payment solutions by businesses and consumers. Latin America and the Middle East & Africa are emerging as high-growth regions, supported by regulatory reforms and the rising adoption of digital financial services. The interplay of these regional trends underscores the global momentum behind real-time payments and sets the stage for continued market expansion through 2033.

Component Analysis

The component segment of the real-time payments market is bifurcated into solutions and services, each playing a pivotal role in the overall ecosystem. Solutions encompass the core payment processing platforms, gateways, and application programming interfaces (APIs) that facilitate seamless, end-to-end transaction flows. These solutions are designed to handle high transaction volumes with minimal latency, ensuring that fu

The global B2B payments market size was valued at USD 1,189.6 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 2,189.0 Billion by 2033, exhibiting a CAGR of 7% from 2025-2033. Asia Pacific currently dominates the market, holding a market share of over 36.7% in 2024. The market is primarily driven by the rising focus on enhancing financial decision-making and strategic planning, the implementation of robust security measures to protect sensitive payment data in transit and at rest, and the extensive utilization of mobile wallets to render payments.

The number of users is forecast to experience significant growth in all segments in 2028. This reflects the overall trend throughout the entire forecast period from 2018 to 2028. It is estimated that the indicator is continuously rising in all segments. In this regard, the Digital Commerce segment achieves the highest value of *** billion users in 2028. The Statista Market Insights cover a broad range of additional markets.

Consumer-initiated cross-border payments are to grow nearly ***** as fast as its B2B counterpart between 2024 and 2032, although remaining small in comparison. This is according to a market model that aims to capture the full size of worldwide international payments, focusing especially on the business side of things. The B2B cross-border payments market, so the source estimates, is to increase by ** percent with B2B e-commerce being one of the main drivers within this segment. The source described consumer cross-border payments as “a significantly smaller market”, but it did predict this particular market would grow by roughly ** percent in seven years. Wholesale includes payments performed by banks, investors, and hedge funds. Banks listed several reasons on why they wanted to modernize international transactions, most notably lower costs and reaching new markets. Cross-border payments a bigger market than remittances International transactions covering B2B, B2C, and documentary trade comprised about ** percent of the total cross-border payments market in Europe, the Middle East, and Africa in 2022. This was for all three areas combined, with no separate figures being available. Remittances — the C2C segment — were worth around ** billion U.S. dollars that year for the region. Note this includes international business transactions, and does not exclusively cover C2C transactions alone. Commercial-based cross-border payments also outpaced consumer transactions in Asia-Pacific — the region with the highest value of cross-border transactions in the world. Several options to modernize international transactions A big theme for cross-border payments in 2023 is the question of how to help speed up processes and combat international payment system fragmentation. Central banks believed that CBDC held the most promise to make international payments more efficient. The potential of such digital variants of existing FX, such as the U.S. dollar or the euro, was regarded higher than other trends — such as linking real-time payment systems together, the use of stablecoins or the upcoming ISO 20022. Central banks do acknowledge potential legal issues or technical implementations. As this is still very much in testing, the uptake of CBDC worldwide was relatively low even in countries which had already launched such a virtual currency.

The global digital payments market size was valued at USD 101.34 billion in 2025 and is projected to reach USD 203.92 billion by 2033, exhibiting a CAGR of 11.08% during the forecast period. The growth of the market is attributed to factors such as the increasing penetration of smartphones and the internet, the growing popularity of e-commerce, and the rising demand for convenient and secure payment methods. Major players in the digital payments market include MasterCard Incorporated (MasterCard), Visa Inc, Fiserv Inc, Stripe Inc, ACI Worldwide, Mobiamo Inc, PayPal Holdings Inc, Wordplay Inc (Fidelity National Information Services), Amazon Payments Inc (Amazon com Inc), Alphabet Inc, Paytm (One97 Communications Limited), Alipay com Co Ltd, Apple Inc. These companies are investing in innovation and expanding their product offerings to meet the evolving needs of customers. They are also focusing on partnerships and collaborations to strengthen their market position. Key trends in the digital payments market include the rise of mobile payments, the adoption of contactless payments, and the growing popularity of digital wallets. Recent developments include: June 2023: PayPal Holdings, Inc. and KKR, one of the leading global investment firms, announced the signing of an exclusive multi-year agreement for a EUR 3 billion (USD 3.37 billion) replenishing loan commitment under which private credit funds and accounts managed by KKR will purchase up to EUR 40 billion (USD 44.87 billion) of buy now, pay later (BNPL) loan receivables originated by PayPal in Italy, France, United Kingdom, Spain, and Germany., February 2023: HDFC Bank has launched a pilot in partnership with Crunchfish to test offline digital payments for merchants and customers under the RBI's Regulatory Sandbox Program, known as OfflinePay., November 2022: As part of its initiative to speed up the digital transformation of Egypt's financial ecosystem, Mastercard has announced a long-term strategic partnership with the Arab African International Bank (AAIB). Through this partnership, Mastercard and AAIB would concentrate on planning and executing AAIB's digital transformation strategy and delivering advanced payment solutions that satisfy the growing consumer demand for simple and secure digital payment methods.. Key drivers for this market are: High Proliferation of Smartphones and Digital Initiatives, Favorable Changes in Regulatory Frameworks Across the World. Potential restraints include: , Stringent Regulations in the Payments Industry. Notable trends are: Retail End User Industry is Expected to Hold Significant Market Share.

According to Cognitive Market Research, the global Payments market size will be USD 111654.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 12.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 44661.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 33496.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 25680.54 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 5582.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 2233.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
The Credit Transfer category is the fastest growing segment of the Payments industry

Market Dynamics of Payments Market

Key Drivers for Payments Market

The Growing Retail Industry and the Payments Market to Boost Market Growth

All businesses that offer products and services to customers are included in the retail sector. Since consumer demand for retail sales has remained strong, the retail business experienced a significant shift, particularly during the pandemic, as it expedited digital services and swiftly adjusted to new customer expectations. These days, customers like to combine the advantages of old shopping practices with the ease of current technology. As a result, they can be found buying online with tablets or smartphones or in physical stores on the high street. In order to stay competitive, merchants must offer a smooth, hassle-free shopping experience. The National Retail Federation reports that retail sales in 2022 reached USD 4.9 trillion, a 7% increase over 2021. This growth rate is higher than the 3.6% average yearly growth in retail sales prior to the pandemic. Customers can pay for things in your retail store in a number of ways. For seamless payment checkout solutions, numerous payment solution providers collaborate with e-commerce behemoths. Additionally, a number of e-commerce behemoths, such as AliPay and Amazon Pay, have already introduced their digital wallets in an attempt to increase their market share. Additionally, it leads to the expansion of the global e-commerce market.

New Development: Biometric Authentication Is Transforming Payments to Drive Market Growth

One significant trend that is becoming more and more well-liked in the payments industry is the incorporation of biometric authentication technology into payments. One unique and important payment technique that combines and provides accuracy, efficacy, and protection in one convenient package is biometric authentication. Fingerprint scanners, facial recognition, iris recognition, pulse tracking, and venous mapping are some of the authentication techniques. For instance, the iOS 15.4 beta periocular biometrics, which enables Face ID to be used with a mask and without an Apple Watch for biometric identification, was released in January 2022 by Apple Inc., a U.S.-based payments firm.

Restraint Factor for the Payments Market

Growing Numbers of Fraud Cases Will Limit Market Growth

The expansion of the payments market has been hampered by the rise in payment fraud. One type of fraudulent or illegal transaction that is carried out by a cybercriminal is payment fraud. Fraudsters charge customers for goods or things that are never supplied via third-party platforms, such as e-commerce portals. Global payment fraud losses have tripled to $32.39 billion in 2020, and they are projected to reach $40.62 billion in 2027, a 25% increase from 2020, according to Merchant Savvy. As a result, the rise in fraud cases limits the payments market's expansion.

Impact of Covid-19 on the Payments Market

The increase in payment fraud has hindered the growth of the payments market. Payment fraud is one kind of illicit or fraudulent activity that a cybercriminal may carry out. Fraudsters use third-party platforms, such as e-commerce portals, to bill consumers for go...

Increasing customer demand for quick payment methods is set to push the global real-time payment market to a value of US$ 27.9 billion in 2024. Worldwide demand for real-time payment solutions is projected to accelerate at a significantly high CAGR of 32% and reach a market valuation of US$ 447.7 billion by 2034-end.

Report Attributes	Details
Real-time Payment Market Size (2024E)	US$ 27.9 Billion
Forecasted Market Value (2034F)	US$ 447.7 Billion
Global Market Growth Rate (2024 to 2034)	32% CAGR
North America Market Share (2034E)	24.3% CAGR
Market Share of On-premise Real-time Payment Solutions (2034F)	58%
Japan Market Growth Rate (2024 to 2034)	32.6%
Key Companies Profiled	Fidelity National Information Services, Inc. (FIS Inc.) ACI Worldwide, Inc. Volante Technologies Inc. Mastercard Inc. Montran Corporation Finastra; Visa Inc. Temenos AG PayPal Holdings, Inc. Fiserv, Inc. Worldpay, Inc. Wirecard AG

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 3 Billion
Growth Rate (2024 to 2034)	32.5% CAGR
Projected Value (2034F)	US$ 49.6 Billion

Attribute	China
Market Value (2024E)	US$ 3.1 Billion
Growth Rate (2024 to 2034)	32% CAGR
Projected Value (2034F)	US$ 49.1 Billion

Category-wise Insights

Attribute	Solutions
Segment Value (2024E)	US$ 20.1 Billion
Growth Rate (2024 to 2034)	31.2% CAGR
Projected Value (2034F)	US$ 304.5 Billion

Attribute	On-premise
Segment Value (2024E)	US$ 18.1 Billion
Growth Rate (2024 to 2034)	30.5% CAGR
Projected Value (2034F)	US$ 259.7 Billion

Global Digital Payments market size is expected to reach $198.99 billion by 2029 at 9.7%, segmented as by mode of payment, point of sale, online sale

digital payments market size is expected to reach USD 221.93 Billion in 2034 ,factors such as worldwide promotion of using digital payments by governments of various countries, lower rates of mobile Internet data plans, rising acceptance of real-time and contactless payments, and increasing production and sales

Digital Payments Market is Segmented by Mode of Payment (Point of Sale (POS), Online / Remote Payment), Component (Solutions, Services), Enterprise Size (Large Enterprises, Smes), End-User Industry (Retail and E-Commerce, Healthcare, and More), by Geography. The Market Forecasts are Provided in Terms of Value (USD).

B2B Payments Market Outlook

According to our latest research, the global B2B payments market size in 2024 is valued at approximately USD 1.53 trillion. The market is exhibiting robust momentum, driven by the accelerating digital transformation across business ecosystems. With a compound annual growth rate (CAGR) of 10.2% from 2025 to 2033, the B2B payments sector is forecasted to reach a significant USD 3.65 trillion by 2033. The growth of this market is primarily fueled by the increasing adoption of digital payment solutions, the expansion of cross-border trade, and the growing demand for real-time transaction processing.

One of the most prominent growth factors in the B2B payments market is the rapid digitization of financial processes among enterprises. Companies are increasingly moving away from traditional, paper-based payment methods in favor of digital alternatives that offer greater efficiency, security, and transparency. The proliferation of advanced payment technologies, such as blockchain, artificial intelligence, and real-time payment systems, has enabled businesses to streamline their accounts payable and receivable processes. This transition not only reduces transaction times and operational costs but also enhances cash flow management, which is critical for maintaining a competitive edge in today’s fast-paced business environment. The integration of payment automation tools and platforms further accelerates the shift toward digital B2B payments, making it easier for organizations to manage high transaction volumes and complex workflows efficiently.

Another key driver propelling the B2B payments market is the globalization of supply chains and the surge in cross-border business activities. As companies expand their operations internationally, the need for seamless, secure, and cost-effective payment solutions becomes paramount. Cross-border payments are inherently more complex due to currency conversions, regulatory compliance, and varying banking infrastructures across regions. To address these challenges, fintech innovators and incumbent financial institutions are collaborating to develop interoperable solutions that facilitate faster and more transparent cross-border transactions. The emergence of digital wallets, multi-currency payment gateways, and blockchain-based remittance services has significantly reduced the friction associated with international B2B payments, enabling businesses to engage in global trade with greater confidence and efficiency.

The evolving regulatory landscape and heightened focus on security and compliance are also shaping the growth trajectory of the B2B payments market. Regulatory bodies worldwide are introducing new standards and frameworks to enhance transparency, reduce fraud, and protect sensitive financial data. Compliance with regulations such as PSD2 in Europe and similar directives in other regions has compelled businesses to adopt more secure payment infrastructures. This has led to increased investments in advanced security technologies, including tokenization, end-to-end encryption, and biometric authentication. As data breaches and cyber threats continue to rise, businesses are prioritizing the adoption of secure payment solutions to safeguard their transactions and maintain trust with trading partners. The convergence of regulatory compliance and technological innovation is thus a crucial factor driving the sustained growth of the B2B payments market.

From a regional perspective, North America remains the dominant market for B2B payments, owing to its mature financial infrastructure, high adoption of digital technologies, and strong presence of leading payment solution providers. However, Asia Pacific is emerging as the fastest-growing region, driven by rapid economic development, increasing cross-border trade, and the proliferation of digital payment platforms among small and medium-sized enterprises (SMEs). Europe also holds a significant share of the market, supported by regulatory initiatives that promote digital payments and financial inclusion. Meanwhile, Latin America and the Middle East & Africa are witnessing steady growth, fueled by government-led digitalization programs and the rising penetration of mobile and internet banking. The regional dynamics underscore the global nature of the B2B payments market and highlight the diverse opportunities for stakeholders across different geographies.

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The real-time payments (RTP) market size was over USD 28.5 billion in 2024 and is expected to cross USD 1.30 trillion by the end of 2037, growing at more than 34.9% CAGR during the forecast period i.e., between 2025-2037. North America industry is anticipated to gain a revenue share of 34.6% in 2037.

The Real-Time Payments Market size is expected to reach a valuation of USD 296.0 billion in 2033 growing at a CAGR of 36.00%. The Real-Time Payments Market research report classifies market by share, trend, demand, forecast and based on segmentation.

Digital Payments Market valued at USD 7.65 billion in 2024, is anticipated to reaching USD 12.53 billion by 2031, with a steady annual growth rate of 7.3%.