Digital Payments: market data & analysis

Market Insights report

Digital Payments: market data & analysis

The Digital Payments market has a global transaction value of US$8,487.9 billion in 2022 and is the largest segment within FinTech. China is currently the biggest market in the world in Digital Payments, with transaction value reaching US$3,496.6 billion in 2022.

What's included?

  • Transaction value and user numbers data, including market size & forecasts for the next five years
  • Regional development with the focus regions & countries: U.S., Europe and China, and top 5 countries of the respective market.
  • Key players
  • Trends and market developments

Table of contents

In this report, Digital Payments are defined as non-cash transactions processed through digital channels. The digitalization of financial services is associated with a disruptive change within the industry when it comes to the checkout process (online purchases), payment process at the POS (offline purchases) and digital remittances. Digital Payments can hence be considered as the next evolutionary step enabling further financial services and replacing classic, old fashioned payment methods (from cash to credit/debit card to mobile, digital wallets).The market Digital Payments includes the following sub markets:

  • Digital Commerce
  • Mobile POS Payments
  • Digital Remittances

  • Digital Commerce: Consumer transactions made via the Internet which are directly related to online shopping for products and services.Transactions can be made via various payment methods (credit cards, direct debit, invoice, or online payment providers, such as PayPal and AliPay)

    Mobile POS Payments: Transactions at Point-of-Sale that are processed via smartphone applications (so-called “mobile wallets”).Well-known providers of mobile wallets are ApplePay, and Samsung Pay. The payment in this case is made by a contactless interaction of the smartphone app with a suitable payment terminal belonging to the merchant.

    Digital remittance services refer to the transfer of money from one country to another using online or digital platforms. These services have gained popularity in recent years due to their convenience, speed, and lower transaction costs compared to traditional money transfer methods.

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