Global payments in 2024: Simpler interfaces, complex reality

Oct 18, 2024 · In 2023, the global payments industry handled 3.4 trillion transactions, accounting for $1.8 quadrillion in value and a revenue pool of $2.4 trillion. It grew 7 percent annually from …

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Global Payments In 2024: Simpler Interfaces, Complex Reality

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erce and in unexpected industries. In the five-year period ending in 2026, the global market for embedded payments is expected to surpass $138 billion, a more than threefold increase.7 The …

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Oct 21, 2024 · Global payment revenues will remain robust over the next five years, enabling the sector to unlock an additional $700 billion by 2028, according to a McKinsey ... Global …

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FAQs about Global payments in 2024: Simpler interfaces, complex reality Coupon?

How much will the Global Payments industry grow in 2023?

In 2023, the global payments industry handled 3.4 trillion transactions, accounting for $1.8 quadrillion in value and a revenue pool of $2.4 trillion. It grew 7 percent annually from 2018 to 2023, but our analysis suggests revenue growth will likely slow to 5 percent a year over the next five years. ...

What is the Global Payments report 2024?

And we’re only scratching the surface. Join us as we explore the limitless possibilities in this new era of people driving payments. In 2024, the Global Payments Report continues its mission to document consumer payment behavior at checkout online and in-store. The following are key insights from our ninth edition of the GPR. ...

Are Global Payments becoming simpler?

Global payments are becoming simpler for users, but complexity keeps growing behind the scenes. This year’s report explores... Europe’s embedded-finance market is growing at double-digit rates. It is becoming increasingly important for banks, merchants,... ...

What will the payments industry look like in 2023?

In the coming year, the payments industry will be confronted with high levels of risk, intensifying regulatory scrutiny, and... McKinsey’s 2023 Digital Payments Consumer Survey pulls back the veil on a rapidly changing industry. Read our latest research, articles, and reports on Financial Services Payments. ...

How big is the Global Payments industry based on McKinsey's Global Payments map?

Our analysis is based primarily on McKinsey’s Global Payments Map, which covers more than 25 payment products in 48 countries and accounts for more than 90 percent of global GDP. In 2023, the global payments industry handled 3.4 trillion transactions, accounting for $1.8 quadrillion in value and a revenue pool of $2.4 trillion. ...

Is the payments industry moving from rapid growth to sustainable expansion?

Subscribe to our Financial Institutions E-Alert. The payments industry is shifting from rapid growth to focusing on profitable, sustainable expansion. Learn more about BCG's 2024 Global Payments Report here. ...