The Top Five Trends in Payments and Lending global briefing presents an overview of the size and shape of the Payments and Lending market, highlights buzz questions, emerging places, categories and trends as well as key industry issues and white spaces.
Consumer and commercial payments are trending towards financial cards and digital payments across the world. Credit is again taking market share of overall card payments, and BNPL is increasingly paying for consumer payments. Mobile commerce is fueling retail growth and digital payments, and fintech is enhancing every payment aspect. The next chance for conversion from paper is B2B payments, where there is a need for increased awareness and education.
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The Payments and Lending market is huge and keeps expanding with digital transformation, fintech innovation, and rising consumer need for frictionless financial services. Below is a high-level snapshot of its market size:
Payments Market Size
Global Digital Payments Market: Projected at $10.7 trillion in 2023 and expected to reach $16.6 trillion by 2028, growing at a CAGR of ~9.5% (Statista, 2023).
Mobile Payments: Projected to surpass $5.5 trillion by 2025 as mobile wallets such as Apple Pay and Google Pay become increasingly popular.
BNPL (Buy Now, Pay Later): A fast-growing segment, projected to hit $565 billion by 2026, with a CAGR of 25%+ (CB Insights).
Lending Market Size
Global Consumer Lending: Worth $11.5 trillion in 2023, expected to grow at a CAGR of ~8% until 2030.
It determines the top players and provides strategic insights of the key factors driving the market. Forecasts give a priceless overview of market development and the success criteria. The briefing uses the publisher’s 360-degree analysis of the global payments’ environment including consumer debt insight.
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