Emerging Trends to Reshape the Payments Market: Emerging Trend Biometric Authentication Revolutionizing Payments as a Key Influencer

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Payments Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the payments market has significantly expanded over the past few years. It is projected to inflate from $716.31 billion in 2024 to $783.02 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%. The expansion during the historic era can be associated with the increase in e-commerce, globalization and inter-border transactions, digital transformations in financial services, customer convenience and speed, as well as changes in regulations and compliance.

Payments Market Size Forecast: What's the Projected Valuation by 2029?
It is predicted that the payments market will experience significant expansion in the upcoming years, escalating to a whopping $1117.87 billion by 2029 at a compound annual growth rate (CAGR) of 9.3%. This projected growth can be tied to several factors such as the increased adoption of contactless and mobile payments, the emergence and rise of digital currencies and cs, efforts towards financial inclusion, the application of open banking and APIs, and measures for cybersecurity and fraud prevention. Key trends for the forecast period entail services of 'buy now, pay later', cross-border and global payments, the incorporation of open banking and APIs, the advent of subscription-based payment models, as well as regulatory initiatives and compliance.

View the full report here:
https://www.thebusinessresearchcompany.com/report/payments-global-market-report

What Are the Drivers Transforming the Payments Market?
The advancement of the payments market is anticipated to be fueled by increasing contactless payments. These transactions, which involve simply tapping or waving a device such as a debit card, credit card, smartphone, or wearable device near a payment terminal, are on the rise. They are becoming more popular due to their ease of use, higher spending limits, health benefits, broader acceptance, technological development, and improved security. The transactions in the payments sector are made more efficient by contactless payments as they enable quick, secure purchases with a mere tap, thereby increasing convenience and decreasing cash dependency. For example, the UK Finance, a UK-based trade association, reported in July 2024 that the UK experienced 18.3 billion contactless payments in 2023, a seven percent rise from the 17.0 billion registered in 2022. Consequently, the expansion of the payments market is being stimulated by the uptrend of contactless payments.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=107&type=smp

What Long-Term Trends Will Define the Future of the Payments Market?
Integrating biometric authentication technology into payment methods is an emerging trend within the payments market. The importance of this approach lies in its ability to offer accuracy, efficiency, and security all at once. Biometric authentication can incorporate various methods including fingerprint scanning, face recognition, iris recognition, pulse monitoring, and venous mapping. To illustrate, Apple Inc., a U.S-based payments company, released an iOS 15.4 beta periocular biometrics in January 2022, which allows users to utilize Face ID with a mask on and without the need for an Apple Watch, thereby facilitating biometric authentication.

Which Segments in the Payments Market Offer the Most Profit Potential?
The payments market covered in this report is segmented -

1) By Type: Credit Transfer, Direct Debit, Check Payment, Cash Deposit
2) By Application: Banks, Non-Banking Financial Institutions, Other Applications
3) By End-user Industry: Retail, Banking and Financial Service, Telecommunication, Government, Transportation, Other End Users

Subsegments:
1) By Credit Transfer: Electronic Funds Transfer (EFT), Wire Transfers, Online Bank Transfers
2) By Direct Debit: Recurring Payments, One-Time Payments
3) By Check Payment: Personal Checks, Business Checks, Certified Checks
4) By Cash Deposit: Over-the-Counter Cash Deposits, ATM Cash Deposits

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=107&type=smp

Which Firms Dominate the Payments Market by Market Share and Revenue in 2025?
Major companies operating in the payments market include Amazon Payments Inc., Apple Inc., Google Pay Inc., Samsung Electronics Co. Ltd., Industrial and Commercial Bank of China Limited, Alipay Co. Ltd., JPMorgan Chase & Co., Bank of America, National Merchants Association, Citibank, Wells Fargo and Company, American Express Company, Capital One Financial Corporation, Visa Inc., PayPal Holdings Inc., Flagship Merchant Services, Mastercard Inc., Fiserv Inc., Square Inc., Fidelity National Information Services Inc., Stripe Inc., Global Payments Inc., Payline Data Services LLC, Worldline SA, Adyen N.V., ACI Worldwide Inc., X-Payments, First Data Corporation, Bitpay Inc., Braintree Technology solutions LLC, GoCardless Ltd.

Which Regions Offer the Highest Growth Potential in the Payments Market?
Asia-Pacific was the largest region in the payments market in 2024. Western Europe was the second largest region in the global payments market share. The regions covered in the payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=107

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.