Digital Payments Market on Track for Strong Growth, Estimated to Grow at 9.4% CAGR Through 2029

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

What Is the Expected CAGR for the Digital Payments Market Through 2025?
The size of the digital payments market has seen substantial growth in the past few years. The market, which stood at $125.94 billion in 2024, is expected to expand to $136.88 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. The exceptional growth in the historic period is a result of robust economic expansion in emerging markets, growing internet accessibility, governmental initiatives in developing economies, the surge in e-commerce, and greater prevalence of mobile devices.

What's the Projected Size of the Global Digital Payments Market by 2029?
Strong expansion is anticipated in the digital payments market size over the next several years, with a forecasted growth to $196.3 billion in 2029 and a compound annual growth rate (CAGR) of 9.4%. This projected growth during the forecast period is linked to factors such as the rise of smart cities, governmental push for digital payments, the Internet of Things (IoT), wider acceptance of 5G networks, increased internet penetration, and impacts of COVID-19. Key trends during this period are expected to include the provision of digital wallet services for enhanced customer convenience, the introduction of wearable payment devices for speedier transactions, investment in QR based payment systems, the development of advanced contactless payment systems, investment in AI and blockchain technologies, and the incorporation of efficient, cost-effective, and accessible financial systems. Furthermore, payment solutions in fuel stations are expected to be optimized to lower operational costs.

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

Top Growth Drivers in the Digital Payments Industry: What's Accelerating the Market?
The digital payment market is anticipated to be driven by swift onboarding and user-friendliness. People prefer hassle-free onboarding, transparency, and flexibility. As such, they gravitate towards frictionless methods, leading software innovators like Square and PayPal to employ automation to slash onboarding time to minutes. In comparison to traditional methods, digital payments are greatly user-friendly, requiring nothing more than a bank account or phone number, and a smartphone with internet access. For instance, new data assembled by Taiwan's government reveals that nearly 10 million out of a population of approximately 23 million are mobile payment users. The ease of integration amplifies the user count, which in turn fuels the expansion of the digital payments market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3041&type=smp

Which Emerging Trends Are Transforming the Digital Payments Market in 2025?
The digital payment market is witnessing a significant rise in the use of contactless payment technology. There is a growing preference among many users for technologies like mobile wallets and contactless cards that offer both convenience and enhanced security. This type of payment tech operates through radio frequency identification (RFID) or near-field communication (NFC) to transmit transactional amounts between users. There was an increase of 28.5% from 2022, as the volume of mobile payments transactions reached $1,402.5 billion in 2023.

What Are the Main Segments in the Digital Payments Market?
The digital paymentsmarket covered in this report is segmented -

1) By Mode Of Payment: Point Of Sale, Online Sale
2) By End-User Industry: Retail, Banking And Financial Service, Telecommunication, Government, Transportation, Others
3) By Deployment: Cloud, On-Premise
4) By Enterprise: Large Enterprises, Small And Medium Enterprises

Subsegments:
1) By Point of Sale (POS): Card Payments, Contactless Payments, QR Code Payments, Digital Payment Terminals
2) By Online Sale: E-commerce Payments, Mobile App Payments, Payment Gateway Solutions, Subscription-based Payments, Digital Wallet Transactions

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=3041&type=smp

Which Top Companies are Driving Growth in the Digital Payments Market?
Major companies operating in the digital payments market include Paypal Holdings Inc., Ant Group, Amazon.com, Inc., Visa Inc., Apple Inc., Google Pay, Mastercard Incorporated, JP Morgan Chase & Co., Fiserv Inc., ACI Worldwide Inc., PayUmoney, Paytm, CCAvenue, Razorpay, Instamojo, Cashfree, Line Pay, Rakuten Pay, Origami Pay, D-barai, AliPay, WeChatPay, UnionPay, 99Bill, PayEase, Worldpay, Stripe, Shopify Payments, Opayo, Adyen, SystemPay International, Novalnet, Wirecard, Sberbank Online, Yandex Money, QIWI, WebMoney, Tinkoff Bank, Cielo, Rede, Getnet S, toneCo, GlobalCollect, Lyra Network, Paybox Services, CASHU, Trriple, Monami Tech, DPO Group, MTN Group Limited, Flutterwave, M-Pesa, Coruscate's Alexpay, Digipay, Software Group, Kineto

Which Regions Will Dominate the Digital Payments Market Through 2029?
Asia-Pacific was the largest region in the digital payments market in 2024. Western Europe was the second largest region in the digital payments market report. The regions covered in the digital payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3041

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.

Speak With Our Expert:
Saumya Sahay
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company

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.