The trends highlighted by our recent industry survey reflect the priorities and expectations that are defining the transformation of our industry.
Meeting the need for speed
More than eight in ten (82%) respondents highlighted digital wallets as a major trend impacting the payments industry.
The convenience offered by digital wallets has fuelled their mass adoption, and with the sector booming it’s forecast to grow at over 9% annually until 2028. Convenience isn’t the only advantage – many have small, or no, transaction fees and increasingly they can be used to pay quickly in store, as well as online.
Instant bank transfers and Open Banking were cited by 70% of respondents as a key area of impact. This is unsurprising; in a world where immediacy is everything, businesses and consumers demand speed without compromise. It’s no longer about just moving money, it’s about enhancing the entire experience of doing so seamlessly. And with more markets around the world embracing Open Banking, friction is falling away.
While instant payments took the crown for the top technological trend, this was followed by regulatory changes at 52%, AI and machine learning (45%), Buy Now Pay Later (BNPL) (27%), and cross-border payments (26%).
The regulatory landscape has shifted the spotlight increasingly on to digital capabilities and cybersecurity, making it both a recurring trend and challenge in financial services. But whilst regulatory changes are often viewed as obstacles, they can instead act as powerful catalysts for innovation. From PSD3 compliance to tackling Authorised Push Payment (APP) fraud, these shifts are pushing businesses to rethink and refine their systems, ultimately building up trust and delivering better outcomes for consumers.
Adopting a more considered approach to AI
While AI and machine learning undoubtedly hold great promise, firms must avoid simply jumping on the bandwagon.
AI offers many potential advantages to payments, especially when it comes to automating critical tasks like fraud detection and identity verification.
However, it’s vital to first carefully evaluate the return on investment of AI projects rather than chasing shiny new trends. Smart, well-considered applications of AI can deliver value by improving fraud prevention, streamlining processes, and optimising operations - but only when aligned with clear business goals.
BNPL and cross-border payments both indicate a growing need for greater payment flexibility. Customers around the globe are showing a preference for BNPL payments as they provide more spending freedom without hefty up-front costs, despite the ongoing debate about social implications and heightened regulatory attention on the payment method.
As for cross-border payments, businesses need the ability to transact seamlessly with customers and other businesses in different regions. More than 40% of the professionals we surveyed work for globally operating companies, demonstrating the increasing globalisation of the financial services industry as a whole. Effective cross-border payment solutions are a necessity to support this continuing expansion of the industry.
Finding the right balance
A smaller proportion of respondents named their top anticipated trends as cryptocurrency and digital assets (19%), embedded finance (13%), and sustainable payments (8%). All of these contribute to building a more dynamic payment industry that can offer streamlined and customer-centric experiences.
Ultimately, at the core of all the trends identified by industry stakeholders sits a need for a deliberate approach to innovation – one that properly balances raised consumer expectations with sustainable, meaningful progress.
The payments industry is evolving at an unprecedented pace. For further insights, check out our 2025 Commerce and Payment Trends Report, which uncovers the trends and innovations that will define 2025 and help you to navigate the future of payments and commerce.