What is the Digital Payment Market Share?
According to 6Wresearch internal database and industry insights, the
Global Digital Payment Market accounted for approximately 72% of total global financial transactions (by volume) in 2024, showcasing its dominance over cash-based and traditional banking methods.
The growing shift towards mobile wallets, contactless payments, and e-commerce integration is causing this high acceptance. Adoption is also being accelerated by developments in biometric authentication, QR-code-based payments, and real-time payment systems. The global digital payment market is expected to grow at a 14.3% compound annual growth rate to reach USD 24.8 trillion by 2031.
Key Growth Factors of the Digital Payment Market Share
- Growing use of smartphones and the internet in developing nations
- Government programs encouraging digital financial inclusion and cashless economies
- E-commerce and m-commerce platforms are growing quickly.
- An increasing need for contactless, secure, and real-time payment methods
- Growth in fintech innovations, such as payments enabled by cryptocurrency and BNPL
- Combining blockchain, AI, and ML to automate payments and prevent fraud
Digital Payment Market Trends
A significant trend in the digital payment market includes finance, which involves the direct integration of financial services into non-financial platforms. Biometric authentication, such as facial recognition and fingerprint scanning, is becoming a mainstream security measure. Central Bank Digital Currencies (CBDCs) are under pilot programs globally. Peer-to-peer (P2P) payment systems and cross-border remittances are increasingly adopting digital rails with enhanced transparency and lower transaction fees.
Emerging Developments in the Digital Payment Market
New developments include the rise of decentralized payment systems powered by blockchain, the expansion of voice-enabled and wearable-based payments, and stronger collaborations between banks and fintechs to develop unified payment interfaces. Digital ID-linked wallets and tokenization techniques are being adopted to enhance privacy and compliance. Meanwhile, super apps are emerging as consolidated platforms offering payments, banking, and lifestyle services under one ecosystem.
Major Companies in the Digital Payment Market
- PayPal Holdings, Inc.
- Mastercard Incorporated
- Visa Inc.
- Ant Group (Alipay)
- Stripe, Inc.
- Google Pay
- Apple Pay
Digital Payment Market Share: FAQs
The digital payment market accounted for approximately 72% of total global financial transactions by volume in 2024.
Technologies such as NFC, QR codes, biometric authentication, blockchain, and AI-driven fraud detection are reshaping the digital payment ecosystem.
Retail, e-commerce, banking, transportation, and food delivery services are among the leading adopters due to high transaction volumes and demand for convenience.
Key concerns include cybersecurity threats, data privacy, interoperability challenges across platforms, and digital literacy gaps in rural areas.
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.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on
sales@6wresearch.com