Digital Payment Market Size, Share, Trends, Growth Outlook |2025-2034

The Global Digital Payment Market Size is estimated at $138.5 Billion in 2025 and is forecast to register an annual growth rate (CAGR) of 12.1% to reach $387.2 Billion by 2034.

The Digital Payment Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments- By Offering (Solutions, Services), Transaction Type (Domestic and Cross Border), By Payment Mode (Cards, ACH Transfer, Digital Wallet, Others), End User (BFSI, Retail and E-commerce, IT and ITeS, Telecom, Healthcare, Travel and Hospitality, Transportation and Logistics, Media and Entertainment, Others)

Digital Payment Market Overview

The widespread adoption of digital technologies and the increasing penetration of smartphones globally are increasingly propelling the market. With a growing number of consumers gaining access to smartphones and the internet, the convenience and accessibility of digital payment methods, such as mobile wallets and apps, have become integral to everyday financial transactions. The rise of online shopping, fueled by factors like convenience, a diverse range of products, and competitive pricing are leading to an increased demand for secure and efficient digital payment solutions. With the proliferation of smartphones and the rise of near-field communication (NFC) technology, consumers are embracing the convenience and speed of contactless payments, whether through mobile wallets, contactless cards, or other digital payment methods. Additionally, Platforms offering seamless P2P money transfers and digital wallet services are gaining popularity, providing users with efficient and user-friendly ways to send and receive money, split bills, and make everyday transactions.

Digital Payment Market Competitive Landscape

The market research study provides in-depth insights into leading companies including the SWOT analyses, product profile, financial details, and recent developments across ACI Worldwide, Adyen, Apple, Aurus, BharatPe, Dwolla, EBANX, FIS, Fiserv, FLEETCOR, Global Payments, JPMorgan Chase, Mastercard, MatchMove, PayPal, PaySend, Payset, PayTrace, PayU, Ripple, Spreedly, Square, Stax by FattMerchant, Stripe, Temenos, Verifone, VISA, WEX, Worldline, and Others.

Digital Payment Market Dynamics

Market Trends- Contactless Payments and Mobile Wallet Trends in the Digital Payment Market

Contactless payments are witnessing a surge in popularity, driven by the increasing adoption of near-field communication (NFC) technology and the desire for swift, hands-free transactions.

Beyond simple payment transactions, mobile wallets are offering features such as loyalty programs, digital ticketing, and integration with various financial services.

Further, the ongoing emphasis on health and safety considerations in the wake of global events is accelerating the adoption of contactless payments.

Market Driver- Smartphone Adoption and Enhanced Connectivity Reshaping the Digital Payment Market

The widespread ownership of smartphones is creating a powerful channel for digital payment providers to reach a broad audience, transforming these devices into portable, secure, and user-friendly platforms for conducting various financial activities.

The ubiquity of smartphones is contributing to the democratization of financial services, allowing even those in remote or underserved areas to access digital payment options, fostering financial inclusion.

Further, the expansion of high-speed internet networks, including 4G and 5G technologies, enhancing the overall user experience by reducing transaction times and enabling real-time processing are fostering the market.

Market Opportunity- The Ascendance of Central Bank Digital Currencies (CBDCs) in the Digital Payment Market

Governments and financial institutions worldwide are increasingly exploring or piloting CBDCs as a progressive step toward digitizing traditional currencies.

CBDCs are presenting an opportunity for central banks to provide a secure and regulated digital currency, potentially reducing reliance on cash, and addressing emerging challenges in the payment ecosystem.

Additionally, the growing influence of private cryptocurrencies and stablecoins are also spurring central banks to expedite their efforts in CBDC development.

Market Share Analysis- Cross Border Segment is expected to register the fastest growth rate (CAGR) over the forecast period from 2025 to 2034.

The Digital Payment Market is analyzed across Domestic and Cross Border. Cross Border is poised to register the fastest growth. The prominence of cross-border payments has grown substantially, fueled by the expansion of e-commerce, international business activities, and the need for seamless financial transactions across borders. One key driver of the growth in cross-border digital payments is the surge in global e-commerce. Businesses and consumers alike engage in cross-border transactions to access a broader range of products and services. Digital payment solutions enable these transactions to occur swiftly and securely, fostering a borderless shopping experience for consumers and opening new markets for businesses. Additionally, the rise of remote work and the globalization of businesses have heightened the demand for efficient cross-border payment mechanisms. Freelancers, international professionals, and businesses with a global footprint rely on digital payment platforms to send and receive funds seamlessly, overcoming the complexities associated with traditional cross-border transactions.

Market Share Analysis- Digital Wallet held a significant market share in 2024

The Digital Payment Market is analyzed across various Payment Modes including Cards, ACH Transfer, Digital Wallet and Others. Of these, Digital Wallet held a significant market share in 2024. These electronic platforms securely store payment information, enabling users to make seamless transactions, both online and in physical stores, with just a few taps on their smartphones or other connected devices. One of the key drivers behind the popularity of digital wallets is the emphasis on convenience. Users can link multiple payment methods, such as credit cards, debit cards, and bank accounts, to a single digital wallet, streamlining the payment process and eliminating the need to carry physical cards or cash. This not only simplifies transactions but also enhances the overall user experience, fostering a quick and hassle-free payment ecosystem. Moreover, digital wallets contribute significantly to the growth of mobile commerce. With the increasing prevalence of smartphones, users can effortlessly make purchases, pay bills, or transfer funds on-the-go, reinforcing the notion of a cashless society.

Digital Payment Market News

On 13 Sep 2023, Aditya Birla Capital Digital Unveils Innovative "Payment Lounge" – A New Era in Digital Finance.

On August 29, 2023, Bank of America (BofA) launches Global Digital Disbursements in Canada through Interac e-Transfer.

Digital Payment Market Segmentation

By Offering

• Solutions
  • Payment Gateway Solutions
  • Payment Processor Solutions
  • Payment Wallet Solutions
  • Point of Sale (POS) Solutions
  • Other Solutions
• Services
  • Professional Services
    • Consulting          
    • Implementation              
    • Support and Maintenance
  • Managed Services

By Transaction

• Domestic
• Cross Border

By Payment Mode

• Cards
• ACH Transfer
• Digital Wallet
• Other Payment Modes

By End User

• BFSI
• Retail and E-commerce
• IT and ITeS
• Telecom              
• Healthcare         
• Travel and Hospitality
• Transportation and Logistics
• Media and Entertainment
• Other Verticals

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Digital Payment Market Companies

• ACI Worldwide
• Adyen
• Apple
• Aurus
• BharatPe
• Dwolla
• EBANX
• FIS
• Fiserv
• FLEETCOR
• Global Payments
• JPMorgan Chase
• Mastercard
• MatchMove
• PayPal
• PaySend
• Payset
• PayTrace
• PayU
• Ripple
• Spreedly
• Square
• Stax by FattMerchant
• Stripe
• Temenos
• Verifone
• VISA
• WEX
• Worldline

*List not exhaustive

Digital Payment Market Outlook 2025

1 Market Overview

1.1 Introduction to the Digital Payment Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2024 Digital Payment Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Digital Payment Market Companies with Area Served

4.2.2 Products Offerings Global Digital Payment Market

 

5 Recession Impact Analysis and Outlook Scenarios

5.1.1 Recission Impact Analysis

5.1.2 Market Growth Scenario- Base Case

5.1.3 Market Growth Scenario- Reference Case

5.1.4 Market Growth Scenario- High Case

 

6 Global Digital Payment Market Trends

6.1 Global Digital Payment Revenue (USD Million) and CAGR (%) by Type (2019-2034)

6.2 Global Digital Payment Revenue (USD Million) and CAGR (%) by Applications (2019-2034)

6.3 Global Digital Payment Revenue (USD Million) and CAGR (%) by Regions (2019-2034)

 

7 Global Digital Payment Market Revenue (USD Million) by Type, and Applications (2019-2024)

7.1 Global Digital Payment Revenue (USD Million) by Type (2019-2024)

7.1.1 Global Digital Payment Revenue (USD Million), Market Share (%) by Type (2019-2024)

7.2 Global Digital Payment Revenue (USD Million) by Applications (2019-2024)

7.2.1 Global Digital Payment Revenue (USD Million), Market Share (%) by Applications (2019-2024)

 

8 Global Digital Payment Development Regional Status and Outlook

8.1 Global Digital Payment Revenue (USD Million) By Regions (2019-2024)

8.2 North America Digital Payment Revenue (USD Million) by Type, and Application (2019-2024)

8.2.1 North America Digital Payment Revenue (USD Million) by Country (2019-2024)

8.2.2 North America Digital Payment Revenue (USD Million) by Type (2019-2024)

8.2.3 North America Digital Payment Revenue (USD Million) by Applications (2019-2024)

8.3 Europe Digital Payment Revenue (USD Million), by Type, and Applications (USD Million) (2019-2024)

8.3.1 Europe Digital Payment Revenue (USD Million), by Country (2019-2024)

8.3.2 Europe Digital Payment Revenue (USD Million) by Type (2019-2024)

8.3.3 Europe Digital Payment Revenue (USD Million) by Applications (2019-2024)

8.4 Asia Pacific Digital Payment Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2019-2024)

8.4.1 Asia Pacific Digital Payment Revenue (USD Million) by Country (2019-2024)

8.4.2 Asia Pacific Digital Payment Revenue (USD Million) by Type (2019-2024)

8.4.3 Asia Pacific Digital Payment Revenue (USD Million) by Applications (2019-2024)

8.5 South America Digital Payment Revenue (USD Million), by Type, and Applications (2019-2024)

8.5.1 South America Digital Payment Revenue (USD Million), by Country (2019-2024)

8.5.2 South America Digital Payment Revenue (USD Million) by Type (2019-2024)

8.5.3 South America Digital Payment Revenue (USD Million) by Applications (2019-2024)

8.6 Middle East and Africa Digital Payment Revenue (USD Million), by Type, Technology, Application, Thickness (2019-2024)

8.6.1 Middle East and Africa Digital Payment Revenue (USD Million) by Country (2019-2024)

8.6.2 Middle East and Africa Digital Payment Revenue (USD Million) by Type (2019-2024)

8.6.3 Middle East and Africa Digital Payment Revenue (USD Million) by Applications (2019-2024)

 

9 Company Profiles

 

10 Global Digital Payment Market Revenue (USD Million), by Type, and Applications (2025-2034)

10.1 Global Digital Payment Revenue (USD Million) and Market Share (%) by Type (2025-2034)

10.1.1 Global Digital Payment Revenue (USD Million), and Market Share (%) by Type (2025-2034)

10.2 Global Digital Payment Revenue (USD Million) and Market Share (%) by Applications (2025-2034)

10.2.1 Global Digital Payment Revenue (USD Million), and Market Share (%) by Applications (2025-2034)

 

11 Global Digital Payment Development Regional Status and Outlook Forecast

11.1 Global Digital Payment Revenue (USD Million) By Regions (2025-2034)

11.2 North America Digital Payment Revenue (USD Million) by Type, and Applications (2025-2034)

11.2.1 North America Digital Payment Revenue (USD) Million by Country (2025-2034)

11.2.2 North America Digital Payment Revenue (USD Million), by Type (2025-2034)

11.2.3 North America Digital Payment Revenue (USD Million), Market Share (%) by Applications (2025-2034)

11.3 Europe Digital Payment Revenue (USD Million), by Type, and Applications (2025-2034)

11.3.1 Europe Digital Payment Revenue (USD Million), by Country (2025-2034)

11.3.2 Europe Digital Payment Revenue (USD Million), by Type (2025-2034)

11.3.3 Europe Digital Payment Revenue (USD Million), by Applications (2025-2034)

11.4 Asia Pacific Digital Payment Revenue (USD Million) by Type, and Applications (2025-2034)

11.4.1 Asia Pacific Digital Payment Revenue (USD Million), by Country (2025-2034)

11.4.2 Asia Pacific Digital Payment Revenue (USD Million), by Type (2025-2034)

11.4.3 Asia Pacific Digital Payment Revenue (USD Million), by Applications (2025-2034)

11.5 South America Digital Payment Revenue (USD Million), by Type, and Applications (2025-2034)

11.5.1 South America Digital Payment Revenue (USD Million), by Country (2025-2034)

11.5.2 South America Digital Payment Revenue (USD Million), by Type (2025-2034)

11.5.3 South America Digital Payment Revenue (USD Million), by Applications (2025-2034)

11.6 Middle East and Africa Digital Payment Revenue (USD Million), by Type, and Applications (2025-2034)

11.6.1 Middle East and Africa Digital Payment Revenue (USD Million), by region (2025-2034)

11.6.2 Middle East and Africa Digital Payment Revenue (USD Million), by Type (2025-2034)

11.6.3 Middle East and Africa Digital Payment Revenue (USD Million), by Applications (2025-2034)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Digital Payment Market Companies with Areas Served

Table 3 Products Offerings Global Digital Payment Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Digital Payment Revenue (USD Million) And CAGR (%) By Type (2019-2034)

Table 8 Global Digital Payment Revenue (USD Million) And CAGR (%) By Applications (2019-2034)

Table 9 Global Digital Payment Revenue (USD Million) And CAGR (%) By Regions (2019-2034)

Table 10 Global Digital Payment Revenue (USD Million) By Type (2019-2024)

Table 11 Global Digital Payment Revenue Market Share (%) By Type (2019-2024)

Table 12 Global Digital Payment Revenue (USD Million) By Applications (2019-2024)

Table 13 Global Digital Payment Revenue Market Share (%) By Applications (2019-2024)

Table 14 Global Digital Payment Market Revenue (USD Million) By Regions (2019-2024)

Table 15 Global Digital Payment Market Share (%) By Regions (2019-2024)

Table 16 North America Digital Payment Revenue (USD Million) By Country (2019-2024)

Table 17 North America Digital Payment Revenue (USD Million) By Type (2019-2024)

Table 18 North America Digital Payment Revenue (USD Million) By Applications (2019-2024)

Table 19 Europe Digital Payment Revenue (USD Million) By Country (2019-2024)

Table 20 Europe Digital Payment Revenue (USD Million) By Type (2019-2024)

Table 21 Europe Digital Payment Revenue (USD Million) By Applications (2019-2024)

Table 22 Asia Pacific Digital Payment Revenue (USD Million) By Country (2019-2024)

Table 23 Asia Pacific Digital Payment Revenue (USD Million) By Type (2019-2024)

Table 24 Asia Pacific Digital Payment Revenue (USD Million) By Applications (2019-2024)

Table 25 South America Digital Payment Revenue (USD Million) By Country (2019-2024)

Table 26 South America Digital Payment Revenue (USD Million) By Type (2019-2024)

Table 27 South America Digital Payment Revenue (USD Million) By Applications (2019-2024)

Table 28 Middle East and Africa Digital Payment Revenue (USD Million) By Region (2019-2024)

Table 29 Middle East and Africa Digital Payment Revenue (USD Million) By Type (2019-2024)

Table 30 Middle East and Africa Digital Payment Revenue (USD Million) By Applications (2019-2024)

Table 31 Financial Analysis

Table 32 Global Digital Payment Revenue (USD Million) By Type (2025-2034)

Table 33 Global Digital Payment Revenue Market Share (%) By Type (2025-2034)

Table 34 Global Digital Payment Revenue (USD Million) By Applications (2025-2034)

Table 35 Global Digital Payment Revenue Market Share (%) By Applications (2025-2034)

Table 36 Global Digital Payment Market Revenue (USD Million), And Revenue (USD Million) By Regions (2025-2034)

Table 37 North America Digital Payment Revenue (USD)By Country (2025-2034)

Table 38 North America Digital Payment Revenue (USD Million) By Type (2025-2034)

Table 39 North America Digital Payment Revenue (USD Million) By Applications (2025-2034)

Table 40 Europe Digital Payment Revenue (USD Million) By Country (2025-2034)

Table 41 Europe Digital Payment Revenue (USD Million) By Type (2025-2034)

Table 42 Europe Digital Payment Revenue (USD Million) By Applications (2025-2034)

Table 43 Asia Pacific Digital Payment Revenue (USD Million) By Country (2025-2034)

Table 44 Asia Pacific Digital Payment Revenue (USD Million) By Type (2025-2034)

Table 45 Asia Pacific Digital Payment Revenue (USD Million) By Applications (2025-2034)

Table 46 South America Digital Payment Revenue (USD Million) By Country (2025-2034)

Table 47 South America Digital Payment Revenue (USD Million) By Type (2025-2034)

Table 48 South America Digital Payment Revenue (USD Million) By Applications (2025-2034)

Table 49 Middle East and Africa Digital Payment Revenue (USD Million) By Region (2025-2034)

Table 50 Middle East and Africa Digital Payment Revenue (USD Million) By Region (2025-2034)

Table 51 Middle East and Africa Digital Payment Revenue (USD Million) By Type (2025-2034)

Table 52 Middle East and Africa Digital Payment Revenue (USD Million) By Applications (2025-2034)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

List of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Digital Payment Revenue (USD Million) By Type (2019-2024)

Figure 4 Global Digital Payment Revenue Market Share (%) By Type (2023)

Figure 5 Global Digital Payment Revenue (USD Million) By Applications (2019-2024)

Figure 6 Global Digital Payment Revenue Market Share (%) By Applications (2023)

Figure 7 Global Digital Payment Market Revenue (USD Million) By Regions (2019-2024)

Figure 8 Global Digital Payment Market Share (%) By Regions (2023)

Figure 9 North America Digital Payment Revenue (USD Million) By Country (2019-2024)

Figure 10 North America Digital Payment Revenue (USD Million) By Type (2019-2024)

Figure 11 North America Digital Payment Revenue (USD Million) By Applications (2019-2024)

Figure 12 Europe Digital Payment Revenue (USD Million) By Country (2019-2024)

Figure 13 Europe Digital Payment Revenue (USD Million) By Type (2019-2024)

Figure 14 Europe Digital Payment Revenue (USD Million) By Applications (2019-2024)

Figure 15 Asia Pacific Digital Payment Revenue (USD Million) By Country (2019-2024)

Figure 16 Asia Pacific Digital Payment Revenue (USD Million) By Type (2019-2024)

Figure 17 Asia Pacific Digital Payment Revenue (USD Million) By Applications (2019-2024)

Figure 18 South America Digital Payment Revenue (USD Million) By Country (2019-2024)

Figure 19 South America Digital Payment Revenue (USD Million) By Type (2019-2024)

Figure 20 South America Digital Payment Revenue (USD Million) By Applications (2019-2024)

Figure 21 Middle East and Africa Digital Payment Revenue (USD Million) By Region (2019-2024)

Figure 22 Middle East and Africa Digital Payment Revenue (USD Million) By Type (2019-2024)

Figure 23 Middle East and Africa Digital Payment Revenue (USD Million) By Applications (2019-2024)

Figure 24 Global Digital Payment Revenue (USD Million) By Type (2025-2034)

Figure 25 Global Digital Payment Revenue Market Share (%) By Type (2030)

Figure 26 Global Digital Payment Revenue (USD Million) By Applications (2025-2034)

Figure 27 Global Digital Payment Revenue Market Share (%) By Applications (2030)

Figure 28 Global Digital Payment Market Revenue (USD Million) By Regions (2025-2034)

Figure 29 North America Digital Payment Revenue (USD Million) By Country (2025-2034)

Figure 30 North America Digital Payment Revenue (USD Million) By Type (2025-2034)

Figure 31 North America Digital Payment Revenue (USD Million) By Applications (2025-2034)

Figure 32 Europe Digital Payment Revenue (USD Million) By Country (2025-2034)

Figure 33 Europe Digital Payment Revenue (USD Million) By Type (2025-2034)

Figure 34 Europe Digital Payment Revenue (USD Million) By Applications (2025-2034)

Figure 35 Asia Pacific Digital Payment Revenue (USD Million) By Country (2025-2034)

Figure 36 Asia Pacific Digital Payment Revenue (USD Million) By Type (2025-2034)

Figure 37 Asia Pacific Digital Payment Revenue (USD Million) By Applications (2025-2034)

Figure 38 South America Digital Payment Revenue (USD Million) By Country (2025-2034)

Figure 39 South America Digital Payment Revenue (USD Million) By Type (2025-2034)

Figure 40 South America Digital Payment Revenue (USD Million) By Applications (2025-2034)

Figure 41 Middle East and Africa Digital Payment Revenue (USD Million) By Region (2025-2034)

Figure 42 Middle East and Africa Digital Payment Revenue (USD Million) By Region (2025-2034)

Figure 43 Middle East and Africa Digital Payment Revenue (USD Million) By Type (2025-2034)

Figure 44 Middle East and Africa Digital Payment Revenue (USD Million) By Applications (2025-2034)

Figure 45 Bottom-Up and Top-Down Approaches for This Report

Figure 46 Data Triangulation

Digital Payment Market Segmentation

By Offering

• Solutions
  • Payment Gateway Solutions
  • Payment Processor Solutions
  • Payment Wallet Solutions
  • Point of Sale (POS) Solutions
  • Other Solutions
• Services
  • Professional Services
    • Consulting          
    • Implementation              
    • Support and Maintenance
  • Managed Services

 

By Transaction Type

• Domestic
• Cross Border

 

By Payment Mode

• Cards
• ACH Transfer
• Digital Wallet
• Other Payment Modes

 

By End User

• BFSI
• Retail and E-commerce
• IT and ITeS
• Telecom              
• Healthcare         
• Travel and Hospitality
• Transportation and Logistics
• Media and Entertainment
• Other Verticals

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)