The Report Covers Payment Companies in Europe and the market is Segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), by End-user Industries (Retail, Entertainment, Healthcare, Hospitality), and by Country.

Payment gateways in Europe are predicted to grow by roughly 300 percent in market size between 2023 and 2030, according to a data model. This model comes from the "Global Payment Gateway Market (2023-2032)" report from Extrapolate. The source adds this would mean a CAGR of 11.4 percent between those years for the full region. The source, however, did only provide individual figures for Germany, France, the UK, Italy, and Spain, with countries like the Netherlands or Sweden likely to be found within the "rest of Europe" category. Payment gateways refer to services such as Stripe, Braintree, Adyen, Square, or Worldpay. These are financial services that give merchants access to various digital payment methods on their platform, such as Visa but also Apple Pay or local payment options found within a country. Such services are also increasingly attracting interest within fintech as they have options to automatically charge customers for transactions on a consistent basis. These subscription-style payments, often referred to as "recurring billing", are a potential option to help reinforce customer loyalty alongside popular options like cash back.

The Report Includes Real-Time Payments in Europe and the Market is Segmented by Payment Type (P2P, P2B) and by Country (UK, Germany, France, Italy, Rest of Europe). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

The Europe Mobile Payments Market Report is Segmented by Payment Mode (Proximity Payment, and Remote Payment) and by Country (United Kingdom, Germany, France, Spain). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The number of digital B2B payments in Europe is forecast to increase by nearly 40 billion after 2023, as businesses move away from cash money. This is according to research from Capgemini Research Institute for Financial Services Analysis. In 2023 - the most recent year estimated by the source - 51.6 billion cashless transactions were carried out in Europe in the B2B segment, the highest amount of all regions worldwide. The source does not clearly state clear whether this includes both domestic and cross-border payments. It does point towards the importance of Swift and ISO 20022, as these initiatives hope to improve B2B cross-border payments in regions such as EMEA (Europe, Middle East, Africa).

Explore Digital Payment Market Regional Demand with our comprehensive analysis. Get insights on North America, Asia Pacific, Europe, and other key regions. Access country-level market data and understand market dynamics and growth potential across different regions.

The Report Covers Electronic Payments Industry Analysis and is Segmented by Mode of Payment (Point of Sale and Online Sale), End-User Industry (Retail, Entertainment, Healthcare, Hospitality), and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

A2A payments made up 20 percent of total e-commerce transaction value in Europe in 2023, with the highest penetrations found in Poland and the Netherlands. This is according to a market model that was repeated over several years for different individual countries across Europe. Noticeable here is that the countries that use account-to-account payments - essentially open banking-led payment options, that can sometimes also be real-time (instant) payments - typically have a low penetration of international payment card schemes. Main A2A in Europe include Poland's BLIK, the Netherlands' iDEAL, or Sweden's Swish - with brands like Bizum in Spain attracting global interest.

Europe Real Time Payments Market size was valued at USD 6.59 Billion in 2024 and is projected to reach USD 16.32 Billion by 2032, growing at a CAGR of 12% from 2026 to 2032.

Europe Real Time Payments Market Drivers

Digital Banking Adoption Growth: The rapid use of digital banking is increasing real-time payment usage throughout Europe. As of 2023, digital banking penetration in the EU was 72%, up from 58% in 2021, with mobile banking transactions increasing by 64%. A significant 89% of customers now favor instant payment methods. This trend toward digital solutions is pushing real-time payment adoption due to increased customer demand for speed, convenience, and 24-hour access to financial services, as well as a growing preference for seamless, instant transactions across mobile platforms.

Cross-Border Trade Expansion: The expansion of cross-border trade within the EU is increasing the demand for real-time payment solutions. In 2023, intra-EU cross-border transactions increased by 32% to €7.8 trillion, while SEPA Instant Credit Transfer (SCT Inst) volumes increased by 85%, processing over 1.2 billion transactions. This growth is driven by the demand for faster, more efficient payment systems that can handle the growing volume of international trade, allowing firms to receive instant settlement while lowering the delays and costs associated with existing payment methods.

Small Business Digitalization: Small and medium-sized enterprises (SMEs) are increasingly using real-time payments to improve cash flow management. According to the EU’s SME Performance Review 2023, 68% of SMEs currently use digital payment systems, with real-time payment adoption increasing by 56% per year. According to the European Central Bank’s report, SMEs who use real-time payments improved their working capital management by 34% and reduced payment processing expenses by 28%. This trend is motivated by the demand for faster payments to boost liquidity, optimize financial operations, and minimize the time and cost associated with traditional payment processing.

Europe Payments Market size was valued at USD 220.88 Billion in 2024 and is projected to reach USD 528.26 Billion by 2032, growing at a CAGR of 10.2% from 2026 to 2032.

Europe Payments Market Drivers

Rising Digital Banking Adoption: The increasing adoption of digital banking is an essential driver for the Europe Payments Market, with 427 million digital banking customers in the EU by 2023, representing 85% of the adult population. Mobile banking transactions increased by 63% from 2021 to 2023, with users averaging 102 transactions per year. This transition is being driven by a rising desire for the ease, security, and accessibility provided by digital banking platforms, which enable individuals and organizations to conduct seamless and secure financial transactions. The increase in mobile banking and digital transaction volumes directly contributes to the demand for advanced payment solutions.

E-commerce Growth and Cross-border Transactions: The expansion of e-commerce and cross-border transactions is a major driver for the Europe Payments Market, with 73% of EU internet users making online purchases by 2023, up from 60% in 2019. Cross-border e-commerce transactions in the EU totaled €219 billion in 2022, up 15.8% year on year, while SEPA processed more than 46 billion digital transactions in 2023. This rise is being driven by the increasing convenience of online shopping, the necessity for secure and effective cross-border payment solutions, and the expansion of digital infrastructure, all of which permit smooth transactions across borders, hence raising demand for novel payment methods.

The European virtual visa card market is experiencing robust growth, fueled by the increasing adoption of digital payment solutions and the expansion of e-commerce. The market, a significant segment of the global virtual card market valued at $51.84 billion in 2025 with a 20% CAGR, is projected to experience substantial expansion through 2033. Several factors contribute to this growth. Firstly, the rising popularity of online shopping and digital transactions across all demographics, coupled with the enhanced security and convenience offered by virtual cards, is driving adoption. Secondly, the proliferation of fintech companies offering innovative virtual card solutions, targeting both B2B and B2C segments, fuels competition and innovation. This includes players like Revolut, Klarna, and Bunq catering to consumer needs, while companies like Qonto and Stripe provide solutions for businesses. Finally, the supportive regulatory environment in many European countries is fostering a favorable environment for market expansion. The market is segmented by product type (B2B virtual cards, B2C remote payments virtual cards, B2C point-of-care virtual cards) and end-user (consumer and business use). While precise market share data for Europe within the global figure is unavailable, a reasonable estimate based on the global market size and considering Europe's significant digital economy suggests that Europe holds a substantial share (estimated at 25-30%). The growth trajectory is projected to be influenced by factors like increasing smartphone penetration, improved internet infrastructure, and further development of secure payment gateways. However, potential challenges exist. Concerns regarding data security and fraud remain, requiring robust security measures. Furthermore, regulatory changes across different European countries could impact market growth. Nevertheless, the overall outlook for the European virtual visa card market remains optimistic, with continued expansion anticipated throughout the forecast period. The focus on innovative features such as enhanced security protocols, personalized spending controls, and seamless integration with other financial services will be key differentiators driving further market penetration. Key players will likely focus on strategic partnerships, product diversification, and targeted marketing to consolidate their market share. This report provides a detailed analysis of the dynamic Virtual Visa Card market in Europe, covering the period from 2019 to 2033. With a focus on the estimated year 2025 and a forecast period spanning 2025-2033, this in-depth study explores market size (in millions), key trends, leading players, and future growth prospects within the European Union. The report leverages extensive primary and secondary research to offer actionable insights for businesses operating in or planning to enter this rapidly evolving market. Search terms such as virtual credit card Europe, virtual visa card market, B2B virtual cards Europe, and digital payment solutions Europe are incorporated throughout the report to optimize its visibility in search engine results. Recent developments include: In September 2023, Lloyds Bank launched a new virtual card for its businesses in partnership with Visa. The virtual card payment service will be available to Lloyds customers and is designed for users to control and track spending with the simplification of the payment process. Visa Commercial Pay exists as a virtual payment solution providing the technology to help businesses simplify and streamline their payments in a secure and controlled way., In September 2023, Wallester which operates in virtual card solutions partnered with Transferra which exists as a fintech provider in Europe. The partnership will be expanding Wallester's virtual card business in the European region and make its transactions more secure.. Key drivers for this market are: Rising in Adoption of Digital Payment Method, Increase in Adoption of Virtual Card Payments by E-Commerce Business. Potential restraints include: Rising in Adoption of Digital Payment Method, Increase in Adoption of Virtual Card Payments by E-Commerce Business. Notable trends are: Rising Digital Payment.

The Report Covers Mobile Payment Technologies Market Forecast and is Segmented by Payment Type (NFC, QR Based, Online Digital Payments, Text-Based), and Geography (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

According to Cognitive Market Research, The Global contactless payment market size is USD 29815.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

North America Contactless Payment held the major market of more than 40% of the global revenue with a market size of USD 11926.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe Contactless Payment held the major market of more than 30% of the global revenue with a market size of USD 8944.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.
Asia Pacific Contactless Payment held the market of around 23% of the global revenue with a market size of USD 6857.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
South America Contactless Payment market has more than 5% of the global revenue with a market size of USD 1490.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031
Middle East and Africa Contactless Payment held the major market of around 2% of the global revenue with a market size of USD 596.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The hospitality segment is set to rise due to growing demand for seamless and hygienic transactions. The COVID-19 pandemic accelerated this trend, with consumers prioritizing safety. Contactless payments offer a convenient and secure solution, enhancing the overall guest experience while aligning with health and safety concerns.
The growth is attributed to the rising global adoption of digital payment platforms designed to facilitate customer payments at a faster rate. Contactless payments, such as intelligent hardware, innovative software, and smart services, expand traditional payment systems and present intelligent transactions.

Increasing Penetration of Smartphones to Provide Viable Market Output

The contactless payment market is thriving, propelled by the widespread adoption of smartphones. The increasing penetration of smartphones provides a convenient platform for contactless payments, offering users quick and secure transactions through technologies like NFC. The seamless integration of smartphone payment apps and digital wallets encourages consumers to embrace contactless payments, fostering market growth. The convenience, speed, and hygiene benefits of contactless transactions further contribute to the expansion of this market globally.

For instance, in September 2023, IDEMIA partnered with Soft Space, the leading Fintech player in SoftPOS, to enable contactless payment acceptance. Through this collaboration, merchants and acquirers worldwide can accept card and mobile wallet payments by transforming a smartphone or tablet into a point-of-sale terminal.

(Source: https://www.idemia.com/press-release/idemia-partners-soft-space-enable-tap-phone-payments-2022-03-02 )

Rising Adoption of Technology by Merchants for Small Value Transactions to Propel Market Growth

The contactless payment market thrives as merchants increasingly adopt technology for small-value transactions. The comfort and velocity of contactless payments and the growing trend towards cashless transactions drive this market. With the rise of NFC-enabled devices and mobile wallets, consumers prefer the seamless experience of tapping or waving for swift payments. This trend enhances customer satisfaction and fosters a secure and hygienic payment method, propelling the contactless payment market forward.

For instance, in January 2022, Rêv USA, Inc. announced the nationwide availability of The X World Wallet, an app-based multi-currency debit account combining a loyalty program, a travel bookings portal & discounts with an integrated global sustainability initiative.

(Source: https://www.businesswire.com/news/home/20220104005138/en/R%C3%AAv-Enters-U.S.-Payments-Market-With-The-Launch-of-The-X-World-Wallet%E2%84%A2-Super-App )

Market Restraints of the Contactless Payment

Lack of Consumer Awareness to Restrict Market Growth

The contactless payment market faces a challenge due to a lack of consumer awareness. Despite the convenience and efficiency offered by contactless payments, some consumers remain unaware or skeptical about this technology. This limited awareness is a sign...

The size and share of the market is categorized based on Type (Mobile Payment, Digital Wallet, Online Banking) and Application (Connected Appliance Payments, Connected TV Payments, Smart Speaker Payments) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

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Real Time Payments Market Size 2024-2028

The real time payments market size is forecast to increase by USD 112.32 billion at a CAGR of 40.94% between 2023 and 2028.

The market is witnessing significant growth due to several key factors. The increasing adoption of smartphones and access to high-speed Internet are driving the market, enabling real-time money transfers and payments. Additionally, the rapid digitalization In the payments sector is further fueling market growth. However, the market is also facing challenges such as the rise in data breaches and security issues during transactions. Payment Processing Solutions Market, Money Transfer Agencies Market, and Virtual Cards Market are some of the sectors experiencing this trend. Ensuring robust security measures and adhering to regulatory compliance are crucial for market players to succeed in this dynamic and competitive landscape.

What will be the Size of the Real Time Payments Market during the forecast period?

Request Free SampleThe real-time payments market is experiencing significant growth and innovation, driven by the increasing adoption of smartphones, cloud-based solutions, and advanced technologies such as artificial intelligence (AI), Internet of Things (IoT), and 5G networks. This market encompasses various segments, including person-to-person (P2P), person-to-business (P2B), e-commerce verticals, mobile commerce, online retail commerce, and social networks. Payment service providers, financial institutes, and fintech companies are at the forefront of this evolution, offering managed services and professional services to cater to the diverse needs of businesses and consumers. Competition authorities continue to monitor the market closely, ensuring compliance with regulations and promoting fair competition.Real-time payments facilitate instant transactions, enhancing the user experience for consumers and streamlining business operations. The integration of smart devices and the increasing prevalence of smartphones in daily life further accelerate the adoption of real-time payments. Additionally, the market is witnessing the implementation of advanced features such as anti-fraud programs, tax collection rates, and money laundering prevention measures, ensuring secure and reliable transactions. The real-time payments market is poised for continued expansion, as it becomes an integral part of the digital economy and the broader fintech sector.

How is this Real Time Payments Industry segmented and which is the largest segment?

The real time payments industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ComponentSolutionsServicesDeploymentOn-premisesCloudGeographyAPACSingaporeThailandNorth AmericaCanadaUSEuropeUKSouth AmericaMiddle East and Africa

By Component Insights

The solutions segment is estimated to witness significant growth during the forecast period.

The market encompasses advanced digital payment solutions, including payment gateway, wallet, and POS offerings. Payment gateways facilitate secure and instant transactions between merchants, shoppers, and financial institutions. The proliferation of the Internet and decreasing connectivity costs have fueled the digital transformation across various sectors, including retail, finance, education, agriculture, logistics, and healthcare. Consequently, the global adoption of digital payments has surged, particularly In the e-commerce, retail, and mobile commerce verticals. Payment wallets, which include mobile wallets and P2P payments, have gained significant traction, enabling seamless transactions on smartphones and between individuals. Competition among payment service providers, fintech companies, and technology giants continues to intensify, driving innovation In the form of cloud-based solutions, artificial intelligence, IoT, and 5G network integration.The P2B and P2P segments are expected to witness substantial growth, with increasing demand from billers, social networks, tax collection agencies, and anti-fraud programs. Small businesses and large enterprises alike are adopting real-time payment solutions for cash flow management, security, and convenience. Cross-border payments, food delivery services, ride hailing services, and retail stores are also integrating real-time payment systems to enhance customer experience and streamline operations. Security concerns, money laundering, and scams persist, necessitating robust anti-fraud programs and regulatory oversight. The 5G infrastructure and blockchain technology are poised to revolutionize the payments landscape further, offering faster, more secure, and decentralized payment solutions.

Get a glance at the market report of share of various segments Request Free Sample

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The digital payments segment dominates the European fintech market in terms of user base. As of 2024, it boasted close to 350 million users and is projected to reach 452 million by 2029. Other segments trail significantly behind: digital assets with 217.6 million users, digital banking with 100 million users, and digital investments with 57.44 million users. According to Statista Market Insights, while all segments are expected to grow their user base in the coming years, digital payments will maintain its prominent position in the market.

The global bank card solutions market is experiencing robust growth, driven by the increasing adoption of digital payment methods and the expanding e-commerce landscape. The market size in 2025 is estimated at $250 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 12% from 2025 to 2033. This significant growth is fueled by several key factors. Firstly, the increasing penetration of smartphones and internet access globally is driving the demand for convenient and secure digital payment solutions. Secondly, government initiatives promoting financial inclusion and the rise of fintech companies are further accelerating market expansion. The segment dominated by debit cards holds a substantial market share due to their widespread accessibility and affordability. Geographically, North America and Europe currently hold the largest market shares, although the Asia-Pacific region is projected to experience the fastest growth owing to rapid economic development and increasing digitalization in emerging economies like India and China. The market is segmented by card type (debit, credit, prepaid) and issuing bank type (state, commercial, others). Key players, including Visa, Mastercard, and American Express, are constantly innovating to enhance security features, improve user experience, and expand their global reach. However, the market faces challenges. Stringent regulatory compliance requirements and concerns about data security and fraud are significant restraints. Furthermore, the rising adoption of alternative payment methods, such as mobile wallets and Buy Now Pay Later (BNPL) services, poses competitive pressure. The market's future hinges on the ongoing development of advanced technologies such as biometric authentication, tokenization, and blockchain solutions to address these challenges and further enhance the security and efficiency of bank card solutions. Continued innovation in card technology and payment processing infrastructure will be crucial to sustaining the market's growth trajectory. The shift towards contactless payments and the integration of bank card solutions with other financial services are key trends shaping the market's future.

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...

Europe's Digital Transformation Market Report is Segmented by Type (Analytics, Artificial Intelligence, and Machine Learning, Extended Reality (XR), Io, Industrial Robotics, Blockchain, Additive Manufacturing/3D Printing, Cyber Security, Cloud Edge Computing, and Others (digital Twin, Mobility, and Connectivity)), and Country (Germany, France, United Kingdom, Italy, Spain, and Other European Countries). The Market Sizes and Forecasts are Provided in Terms of Value (USD ) for the Above Segments.

The global e-wallet market is experiencing robust growth, projected to reach $85.38 billion in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 21.49%. This expansion is driven by several key factors. The increasing adoption of smartphones and mobile internet penetration globally fuels the convenience and accessibility of e-wallets, particularly in emerging markets with rapidly growing digital economies. Furthermore, the integration of e-wallets into various online and offline payment ecosystems, coupled with attractive features like loyalty programs and cashback incentives, stimulates user adoption. Government initiatives promoting digital financial inclusion and reducing reliance on cash transactions further bolster market growth. The preference for contactless payment options, heightened by the recent pandemic, significantly contributed to the surge in e-wallet usage. Competitive pressures among established players and new entrants alike lead to constant innovation in features, security measures, and user experience, driving market dynamism. However, despite the significant growth potential, certain challenges remain. Concerns regarding data security and privacy are paramount, particularly with the increasing volume of sensitive financial data handled by e-wallet platforms. Regulatory hurdles and varying compliance standards across different jurisdictions can complicate market expansion for global players. The digital divide, particularly in underserved communities with limited access to technology and digital literacy, restricts widespread adoption. Overcoming these challenges requires a collaborative approach involving technology providers, governments, and financial institutions to ensure secure, inclusive, and reliable e-wallet services. The market is segmented by technology (Proximity and Remote) and geographically spans North America, South America, Europe, the Middle East & Africa, and Asia Pacific, with Asia Pacific anticipated to be a key growth region given its large and rapidly digitalizing population. The competitive landscape includes a mix of established financial institutions and technology giants, each employing unique strategies to capture market share.