Payments and lending is rapidly evolving as innovation from fintech impacts every part of a transaction. Digital currency investment is accelerating as the use cases for them continue to expand, while credit is now projected to become the most used card function by payment value in 2030. Also driving payments are the more than 400 million newly banked consumers and the USD28 trillion in available commercial paper payments.
Delivery
This report comes in PPT.
Key Findings
Stablecoins and agentic AI draw investment
Investments in technology by the largest international networks, fintechs and issuers have been centred around increasing security and convenience. Stablecoins and agentic AI are proving to draw the most investment and have the potential to significantly alter how consumers and businesses pay and shop.
Credit value continues to lead card functions
Credit continued to grow faster than any other card function in 2025 and is projected to nearly reach parity with debit cards for total payment value. The rapid rise in credit is a response to rising inflation, increased credit utilisation and greater access to financial services. The growth of credit is reflected across all regions.
APAC rebalance
Over the last decade China has generated the majority of card payment value in the region, but this is starting to change with other emerging markets adopting financial cards and financial services while China faces a struggling economic environment. India and Vietnam have among the highest expected CAGRs for card payment value over the forecast period.
Unbanked and financially underserved drop to new lows
The total number of unbanked or financially underserved consumers has dropped by 262 million over the past five years. This has contributed to the growth of card payment value, increases in consumer credit and overall consumer spending. Mobile-based financial services are reaching consumers who were unable to access traditional retail networks.
Sharpened focus on B2B payments
The leading card networks and digital payment platforms are increasingly looking to B2B payment value to convert away from paper. The USD28 trillion payment value opportunity is more than two times greater than the remaining consumer paper payment value in 2025.
Our expert’s view of Payments and Lending in 2025
Key findings
What is driving payments and lending?
Top five trends in payments and lending
Top five trends uncovered
Digital currencies reshape global payments, but strategic action is essential
Powered by blockchain, stablecoin emerges to complement digital currencies
CBDCs progress and contrast with stablecoin development
Stablecoin: Cost savings drive growth, risks spur innovation
PayPal’s PYUSD: Navigating regulatory hurdles to enable growth
USDG: Paxos Singapore’s regulated stablecoin accelerates cross-border payments
Digital currencies create disruptive growth opportunities for payments and loyalty
Multiple drivers of credit adoption
Credit providing additional value
Credit providing additional value
Credit growth opportunities to continue
Strong regional growth for Asia Pacific
Slowing growth in China
Growth throughout the region
Shifting market focus
Increasing access to financial products and services
Pix promoting inclusion in Brazil
Additional opportunity in converting the unbanked
The largest remaining paper payment opportunity
Card networks put B2B in focus
The USD34.7 trillion opportunity
Future implications
Opportunities for growth
Payments and Lending
This is the aggregation of Financial Cards and Payments, Mobile Payments, Transactions, and Consumer Lending.
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