Digital Payments Market Size | Growth, Share & Forecast 2025

Q: What is the digital payment market overall size?

The digital payments market is projected to reach USD 23.6 trillion by 2031.

Q: What is the expected growth rate of the digital payment market?

The market growth rate is projected at a CAGR of 14.1% during the upcoming years.

Q: Which digital payment methods are leading the market today?

UPI, mobile wallets, contactless cards, QR code payments, and internet banking dominate global digital payment ecosystems.

Q: What are the key regulatory trends in the digital payment market?

Governments and central banks are focusing on customer protection, secure digital identity systems, anti-money laundering (AML), and financial inclusion.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA4610

Publication Date: Jun 2025

What is the Digital Payments Market Size?

According to 6Wresearch internal database and industry insights, the Global digital payments market was valued at approximately USD 9.4 trillion in 2024 and is projected to reach USD 23.6 trillion by 2031. The market is poised to grow at a CAGR of 14.1% over the forecast period.

This robust growth is driven by increasing mobile payment adoption, the rise of contactless and real-time payment systems, and greater digital financial inclusion efforts across both developed and emerging markets.

Key Growth Factors of the Digital Payments Market

Mobile wallets and smartphones are widely used for everyday transactions.
Increased use of integrated payment gateways by e-commerce and on-demand service platforms
Government-supported programs for digital financial inclusion and infrastructure for real-time payments
Consumers' preference for contactless, cashless, and seamless transaction methods
Advances in biometric, NFC-enabled, and QR code-based payment systems
Increasing bank-fintech-retailer partnerships to integrate payments into services

Digital Payments Market Trends

The market is witnessing the adoption of tokenization, card-on-file services, and wearable-based payments. Central Bank Digital Currencies (CBDCs) are under pilot in several economies. Cross-border payment innovations are gaining traction with blockchain and distributed ledger technology (DLT) adoption. Meanwhile, super apps are enabling users to manage financial, retail, and travel payments in one unified platform, enhancing convenience and user stickiness.

Emerging Developments in the Digital Payments Market

New developments include AI-powered payment fraud detection systems, voice-activated payments, and payment features integrated with IoT devices. The growth of digital identity and KYC systems is making onboarding faster and more secure. Open banking APIs are unlocking new value chains in payments and enabling personalized finance services. Offline digital payment innovations are emerging for low-connectivity regions, especially in rural economies.