Cryptocurrency payments are forecast to grow at a CAGR of nearly 17 percent between 2023 and 2030, although the market is relatively small. The forecast is according to a market estimate made in early 2023, based on various conditions and sources available at that time. It should be noted, however, that cryptocurrency used for payments is predicted to be a far smaller market than the predicted transaction value of CBDC, or the forecast market size of instant payments. Indeed, research from early 2023 across 40 countries suggested that the market share of cryptocurrency in e-commerce transaction was "less than one percent" in all survey countries, with predictions being this would not change in the future.

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Digital Payment Market Size 2025-2029

The digital payment market size is forecast to increase by USD 304.95 billion at a CAGR of 25.5% between 2024 and 2029.

The market is witnessing significant growth due to the increasing use of smartphones and the emergence of mobile payments through NFC systems and e-wallets. The convenience and speed of digital payments have made them increasingly popular, particularly among younger generations. However, data security remains a major concern, with payment gateways and ATMs being prime targets for cyber attacks. To address this issue, advancements in technology such as near field communication, wearables, and blockchain technology are being adopted to enhance security. Furthermore, the integration of machine learning and information services in digital payment systems is expected to improve user experience and streamline transactions. In addition, the rise of renewable energy solutions and the integration of digital payments in POS terminals and e-commerce platforms are further driving market growth. Despite these opportunities, challenges such as privacy concerns and the need for regulatory compliance persist. Overall, the market is poised for continued expansion, with mobile apps, computer-based payments, and LED displays becoming increasingly common in the US and North American markets.

What will be the Size of the Digital Payment Market During the Forecast Period?

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The market is experiencing significant growth as technological advancements and increasing smartphone penetration drive the shift towards cashless transactions. Mobile wallets, digital payment cards, and cloud-based digital solutions are transforming the way adults worldwide conduct business and make purchases. With the proliferation of smartphones and improved internet accessibility, consumers are increasingly relying on user-friendly mobile applications for making payments, whether it be at retail terminals, POS systems, or online.
The market's size is projected to reach billions of people, representing a substantial portion of the world's total transactions. Technological developments, such as EUPay, EPI, and Verve Card, continue to facilitate seamless digital payment processing, enabling businesses to cater to the evolving needs of consumers in the world of web commerce. The convenience offered by digital payments is a key driver of market growth, as more and more people embrace the ease and security of card-based transactions.

How is this Digital Payment Industry segmented and which is the largest segment?

The digital payment industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Large enterprises
  SMEs


Component

  Solutions
  Services


Deployment

  On-premises
  Cloud


Method

  Digital wallets
  Bank cards
  Digital currencies


Application

  BFSI
  Media and entertainment
  IT and telecommunication
  Hospitality
  Healthcare


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  South America

    Brazil


  Middle East and Africa

By End-user Insights

The large enterprises segment is estimated to witness significant growth during the forecast period. The digital payments market has experienced significant growth due to the increasing usage of mobile wallets, digital payment cards, and contactless payments. Technological developments, such as NFC and QR codes, have enabled user-friendly smartphones to facilitate mobile payment solutions, including Apple Pay, Google Pay, and Samsung Pay. These innovations have gained popularity among tech-savvy consumers, leading to an increase in e-commerce sales and cashless methods. Businesses across industries, including retail, hospitality, and finance, have adopted digital payment systems for their convenience and strong security measures. International trade and cross-border transactions have also increased, driving the demand for digital payment services.

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The large enterprises segment was valued at USD 28.1 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The digital payments market is experiencing significant growth, particularly in the Asia-Pacific (APAC) region. This expansion is primarily driven by the rapid urbanization and increasing internet penetration in the area. The

Global Real-Time Payments Market size worth at USD 25.86 Billion in 2023 and projected to USD 435.45 Billion by 2032, with a CAGR of around 32.6% between 2024-2032.

The Measurable AI Amazon Consumer Transaction Dataset is a leading source of email receipts and consumer transaction data, offering data collected directly from users via Proprietary Consumer Apps, with millions of opt-in users.

We source our email receipt consumer data panel via two consumer apps which garner the express consent of our end-users (GDPR compliant). We then aggregate and anonymize all the transactional data to produce raw and aggregate datasets for our clients.

Use Cases Our clients leverage our datasets to produce actionable consumer insights such as: - Market share analysis - User behavioral traits (e.g. retention rates) - Average order values - Promotional strategies used by the key players. Several of our clients also use our datasets for forecasting and understanding industry trends better.

Granular Data Itemized, high-definition data per transaction level with metrics such as - Order value - Items ordered - No. of orders per user - Delivery fee - Service fee - Promotions used - Geolocation data and more

Aggregate Data - Weekly/ monthly order volume - Revenue delivered in aggregate form, with historical data dating back to 2018. All the transactional e-receipts are sent from app to users’ registered accounts.

Most of our clients are fast-growing Tech Companies, Financial Institutions, Buyside Firms, Market Research Agencies, Consultancies and Academia.

Our dataset is GDPR compliant, contains no PII information and is aggregated & anonymized with user consent. Contact michelle@measurable.ai for a data dictionary and to find out our volume in each country.

We conducted a cross-sectional study of the publicly available 2022 Open Payments data to characterize and quantify sponsored events (available for download at: https://www.cms.gov/priorities/key-initiatives/open-payments/data/dataset-downloads). Data sources We downloaded the 2022 dataset ZIP files from the Open Payments website on June 30th, 2023. We included all records for nurse practitioners, clinical nurse specialists, certified registered nurse anesthetists, and certified nurse-midwives (hereafter advanced practiced registered nurses (APRNs)); and allopathic and osteopathic physicians (hereafter, ‘physicians’). To ensure consistency in provider classification, we linked Payments data to the National Plan and Provider Enumeration System data (June 2023) by National Provider Identifier (NPI) and the National Uniform Claim Committee (NUCC) and excluded individuals with an ambiguous provider type. Event-centric analysis of Open Payments records: Creating an event typology We included only payments classified as “food and beverage” to reliably identify distinct sponsored events. We reasoned that food and beverage would be consumed on the same day in the same place, thus assumed that records for food and beverage associated with the same event would share the date of payment and location. We also assumed that the reported value of a food and beverage payment is the total cost of the hospitality divided by the number of attendees, thus grouped payment records with the same amount, rounded to the nearest dollar. Inferring which Open Payment records relate to the same sponsored event requires analytic decisions regarding the selection and representation of variables that define an event. To understand the impact of these choices, we undertook a sensitivity analysis to explore alternative ways to group Open Payments records for food and beverage, to determine how combination of variables, including date (specific date or within the same calendar week), amount (rounded to nearest dollar), and recipient’s state, affected the identification of sponsored events in the Open Payments data set. We chose to define a sponsored event as a cluster of three or more individual payment records for food and beverage (nature of payment) with the following matching Open Payments record variables: • Submitting applicable manufacturer (name) • Product category or therapeutic area • Name of drug or biological or device or medical supply • Recipient state • Total amount of payment (USD, rounded to nearest dollar) • Date of payment (exact) After examining the distribution of the data, we classified events in terms of size (≥20 attendees as “large” and 3-<20 as “small”) and amount per person. We categorized events <$10 as “coffee”, $10-<$30 as “lunch”, $30-<$150 as “dinner”, and ≥$150 as “banquet”.

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.

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India Unified Payments Interface Market Size 2024-2028

The India unified payments interface (UPI) market size is forecast to increase by USD 699.02 billion at a CAGR of 205.6% between 2023 and 2028.

The market is experiencing significant growth due to its instant and seamless money transfer process. This feature is driving the market, as more consumers prefer contactless transactions for their daily financial needs. Furthermore, the increasing use of mobile apps for shopping transactions is boosting the adoption of UPI. However, the market also faces challenges such as UPI payment frauds, which require strong data security measures to ensure user confidence. To mitigate these risks, market participants are investing in advanced security technologies and regulatory compliance. Overall, the UPI market is poised for growth, offering opportunities for innovation and expansion.

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The market represents a significant shift in mobile payment systems, enabling users to transfer money between bank accounts using a smartphone application. UPI facilitates seamless settlement through push and pull transactions, surpassing the need for physical cash and traditional over-the-counter payments. This mobile-first payment solution offers enhanced security with multi-factor authentication, safeguarding sensitive information during transactions. UPI supports recurring payments for utility bills, school fees, and other regular expenses, making financial management more efficient. While credit and debit cards and net banking continue to be popular options, UPI's convenience and instant payment processing have gained traction.
Furthermore, with UPI, users can send and receive money using a Virtual ID or account details, eliminating the need for sharing personal identification. The increasing unbanked population In the US also benefits from this innovative payment solution, expanding financial inclusion. Overall, the UPI market is poised for growth, offering a more convenient and secure alternative to traditional payment methods.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Money transfers
  Bill payments
  Point of sale
  Others


Type

  P2P
  P2M


Geography

  India

By Application Insights

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

The increasing demand for instant money transfer in India is expected to increase the demand for UPI from end-users during the forecast period. The users of UPI can transfer money through their mobile devices round the clock, 24x7 and 365 days. In addition, UPI is a fast, hassle-free, and cheapest way of money transfer, which the user can do anytime from anywhere. In addition, UPI eliminates the risk of carrying cash. Moreover, money transfer/transaction can be initiated from any bank's UPI application. Also, it only requires the virtual ID of the payee to transfer the money. The process of transferring money by UPI is quite simple as there is no need for pre-addition/approval of the beneficiary; the transfer is made to the beneficiary's virtual ID. Furthermore, a single UPI application can be used for different bank accounts. The user simply needs to link their bank accounts to their UPI-based application. Also, there is no charge for transferring money to the beneficiary account via UPI. Hence, owing to these factors, the demand for UPI for transferring money is expected to increase during the forecast period.

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The money transfers segment was valued at USD 303.00 billion in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of India Unified Payments Interface (UPI) Market?

Instant and smooth money transfer process is the key driver of the market.

The market represents a significant advancement in mobile payment systems, enabling seamless transactions between bank accounts through a smartphone application. UPI facilitates both push and pull transactions, allowing users to send and receive money instantly, without the need for physical cash or account details. This real-time gross settlement system supports transaction authentication through various methods, ensuring sensitive i

Envestnet®| Yodlee®'s Consumer Behavior Data (Aggregate/Row) Panels consist of de-identified, near-real time (T+1) USA credit/debit/ACH transaction level data – offering a wide view of the consumer activity ecosystem. The underlying data is sourced from end users leveraging the aggregation portion of the Envestnet®| Yodlee®'s financial technology platform.

Envestnet | Yodlee Consumer Panels (Aggregate/Row) include data relating to millions of transactions, including ticket size and merchant location. The dataset includes de-identified credit/debit card and bank transactions (such as a payroll deposit, account transfer, or mortgage payment). Our coverage offers insights into areas such as consumer, TMT, energy, REITs, internet, utilities, ecommerce, MBS, CMBS, equities, credit, commodities, FX, and corporate activity. We apply rigorous data science practices to deliver key KPIs daily that are focused, relevant, and ready to put into production.

We offer free trials. Our team is available to provide support for loading, validation, sample scripts, or other services you may need to generate insights from our data.

Investors, corporate researchers, and corporates can use our data to answer some key business questions such as: - How much are consumers spending with specific merchants/brands and how is that changing over time? - Is the share of consumer spend at a specific merchant increasing or decreasing? - How are consumers reacting to new products or services launched by merchants? - For loyal customers, how is the share of spend changing over time? - What is the company’s market share in a region for similar customers? - Is the company’s loyal user base increasing or decreasing? - Is the lifetime customer value increasing or decreasing?

Additional Use Cases: - Use spending data to analyze sales/revenue broadly (sector-wide) or granular (company-specific). Historically, our tracked consumer spend has correlated above 85% with company-reported data from thousands of firms. Users can sort and filter by many metrics and KPIs, such as sales and transaction growth rates and online or offline transactions, as well as view customer behavior within a geographic market at a state or city level. - Reveal cohort consumer behavior to decipher long-term behavioral consumer spending shifts. Measure market share, wallet share, loyalty, consumer lifetime value, retention, demographics, and more.) - Study the effects of inflation rates via such metrics as increased total spend, ticket size, and number of transactions. - Seek out alpha-generating signals or manage your business strategically with essential, aggregated transaction and spending data analytics.

Use Cases Categories (Our data provides an innumerable amount of use cases, and we look forward to working with new ones): 1. Market Research: Company Analysis, Company Valuation, Competitive Intelligence, Competitor Analysis, Competitor Analytics, Competitor Insights, Customer Data Enrichment, Customer Data Insights, Customer Data Intelligence, Demand Forecasting, Ecommerce Intelligence, Employee Pay Strategy, Employment Analytics, Job Income Analysis, Job Market Pricing, Marketing, Marketing Data Enrichment, Marketing Intelligence, Marketing Strategy, Payment History Analytics, Price Analysis, Pricing Analytics, Retail, Retail Analytics, Retail Intelligence, Retail POS Data Analysis, and Salary Benchmarking

1. Investment Research: Financial Services, Hedge Funds, Investing, Mergers & Acquisitions (M&A), Stock Picking, Venture Capital (VC)

2. Consumer Analysis: Consumer Data Enrichment, Consumer Intelligence

3. Market Data: AnalyticsB2C Data Enrichment, Bank Data Enrichment, Behavioral Analytics, Benchmarking, Customer Insights, Customer Intelligence, Data Enhancement, Data Enrichment, Data Intelligence, Data Modeling, Ecommerce Analysis, Ecommerce Data Enrichment, Economic Analysis, Financial Data Enrichment, Financial Intelligence, Local Economic Forecasting, Location-based Analytics, Market Analysis, Market Analytics, Market Intelligence, Market Potential Analysis, Market Research, Market Share Analysis, Sales, Sales Data Enrichment, Sales Enablement, Sales Insights, Sales Intelligence, Spending Analytics, Stock Market Predictions, and Trend Analysis

The global automated recurring billing market is experiencing robust growth, driven by the increasing adoption of subscription-based business models across diverse sectors. The market, estimated at $15 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching an estimated $45 billion by 2033. This significant expansion is fueled by several key factors. The rise of SaaS (Software as a Service) applications, the booming streaming services industry, and the ever-growing preference for convenient, automated payment solutions are all contributing to this market's upward trajectory. Furthermore, businesses of all sizes are recognizing the efficiency gains and reduced operational costs associated with automated recurring billing systems, making it a strategic investment for enhancing financial management. The market segmentation reveals strong growth across various applications, including telecom, media (newspapers, magazines), fitness (gym memberships), and the rapidly expanding SaaS sector. Several trends are shaping this market landscape. The integration of artificial intelligence (AI) and machine learning (ML) into billing systems is enhancing accuracy and streamlining processes. A growing emphasis on improved customer experience is driving the development of user-friendly billing platforms that offer transparency and personalized payment options. However, challenges remain. Security concerns around sensitive payment data are paramount, and regulatory compliance across diverse geographical regions poses a hurdle for market players. Despite these restraints, the long-term outlook for automated recurring billing remains highly positive, fueled by the sustained adoption of subscription models and continuous technological advancements.

Digital wallets are expected to process nearly 78 billion U.S. dollars of online shppping transactions in Italy by 2028. This is according to hybrid research released in 2024, which - depending on the country - either used database modeling or data acquired via a consumer survey. Wallets ranked relatively high among Italy's most-used payment methods when shopping online. Indeed, more than 50 percent of Gen Z in Italy preferred mobile payments to other payment methods when ordering online.

The 2-digit Standard Industrial Classification (SIC) level datasets published alongside the UK industry-to-industry payment flows, 2017 to 2024: experimental data article can be accessed on this page.

The 5-digit SIC level dataset can be accessed on Nomis via the link at the bottom of this page in the 'Important notes and usage information' section.

China Central Bank Bill: Payment: 1 year data was reported at 4,000.000 RMB mn in 28 Dec 2011. This records a decrease from the previous number of 26,000.000 RMB mn for 21 Dec 2011. China Central Bank Bill: Payment: 1 year data is updated daily, averaging 15,000.000 RMB mn from Jul 2009 (Median) to 28 Dec 2011, with 121 observations. The data reached an all-time high of 110,000.000 RMB mn in 17 Mar 2010 and a record low of 1,000.000 RMB mn in 21 Sep 2011. China Central Bank Bill: Payment: 1 year data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money and Banking – Table CN.KA: Open Market Operation: Daily.

As of 2024, around 1028.91 million people used mobile payments in China, 75 million more users compared to a year ago. After the growth rate of new users began to taper off after 2017, the outbreak of COVID-19 caused an influx of many new users. Digital money over hard cash Two companies have completely changed commerce in China. Alibaba and Tencent are the two main providers of mobile payments in the country with their platforms WeChat Pay and Alipay. A high penetration rate of mobile phones and the popularity of e-commerce have aided the popularization and adaption of mobile payments. Today, mobile payments are the primary vehicle to transfer money. The next step After payments have become digital, the currency is going to become digital next. In 2017, the Chinese government greenlighted the plans of the country’s central bank to develop a digital currency. Since 2020, the Digital Yen was slowly rolled out to the public through several testing circles. According to the People’s Bank of China, a digital currency would help regulators to reduce money laundering, corruption, and other illicit activities.

Variability in mean payment per physician, number of physicians, and aggregated payments for transactions in the Open Payments database, 2014–2018, for each top-category specialty available for allopathic and osteopathic physicians.

Report on late payments made by the Department of Science, Information Technology and Innovation.

The new On-Time Payment Policy reporting framework commenced on 1 July 2020. This Late-Payment Policy dataset is no longer being updated.\r \r The new dataset can be accessed from https://www.data.qld.gov.au/dataset/queensland-health-on-time-payment-report

The online banking penetration rate in Southeast Asia was forecast to continuously increase between 2024 and 2029 by in total 11.8 percentage points. After the fifteenth consecutive increasing year, the online banking penetration is estimated to reach 43.7 percent and therefore a new peak in 2029. Notably, the online banking penetration rate of was continuously increasing over the past years.Shown is the estimated percentage of the total population in a given region or country, which makes use of online banking.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the online banking penetration rate in countries like Western Asia and Southern Asia.

Global Online Payment Fraud Detection market size 2025 was XX Million. Online Payment Fraud Detection Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

China Banks' WMP: Year to Date: Payment for Earnings: Close-end: Non-net: Over 3 Month: 6 to 12 Month data was reported at 101.820 RMB bn in Jun 2016. This records a decrease from the previous number of 162.310 RMB bn for Dec 2015. China Banks' WMP: Year to Date: Payment for Earnings: Close-end: Non-net: Over 3 Month: 6 to 12 Month data is updated quarterly, averaging 117.870 RMB bn from Dec 2014 (Median) to Jun 2016, with 3 observations. The data reached an all-time high of 162.310 RMB bn in Dec 2015 and a record low of 101.820 RMB bn in Jun 2016. China Banks' WMP: Year to Date: Payment for Earnings: Close-end: Non-net: Over 3 Month: 6 to 12 Month data remains active status in CEIC and is reported by China Central Depository & Clearing Co., Ltd. The data is categorized under China Premium Database’s Financial Market – Table CN.ZAM: Banks' Wealth Management Product: Payment.

Statistical indicators reflecting the Lithuanian payment market, which are collected quarterly from payment service providers operating in Lithuania, ie banks, credit unions, payment institutions, electronic money institutions and branches of foreign payment service providers operating in Lithuania.