Payments
The infrastructure that turns a purchase into a payment.
Behind a payment button, several systems work together to identify the buyer, check for fraud and authorise the purchase. They then move the money and match the payment to the merchant’s records. Some companies provide checkout software or terminals; others process transactions, connect banks or help merchants accept payments. Each earns a different share of the fee.
Cards, bank transfers and digital wallets are different routes through that chain. A wallet may still use a card underneath, so counting both can count the same payment twice. Customer value comes from successful checkouts, fast access to funds, fewer disputes and less administrative work. Processing more money is useful only if enough revenue remains after the costs of moving it.
Market size & opportunity
The ECB’s July 2026 release records 83.5 billion non-cash payments in the euro area during the second half of 2025, up 6.9% year on year. Cards represented 57% of the count. These provisional figures describe transaction activity, not the revenue of payment companies or their total addressable market.
A supplier’s opportunity depends on the merchants and payment types it can serve, multiplied by the fee it retains. Cross-border payments, recurring billing and small everyday purchases have different costs and prices. Software subscriptions and terminal sales add other revenue streams. Payment volume should therefore sit beside retained fees, fraud losses and customer retention, rather than stand in for market size.
Market outlook
Global payments revenue
Worldwide · US$ billion per year
- 2024Study baseline1,930
- 2029Forecast2,400
Revenue, not the value of money processed. BCG includes transaction income and other revenue such as deposit margins, so this extends beyond payment-processing fees.
Boston Consulting GroupForecast published
Recent progress
Instant euro transfers are becoming standard infrastructure. The euro-area deadline for sending them was 9 October 2025, alongside payee verification; payment and electronic-money institutions have later deadlines. Payee verification checks the recipient’s name against the account details before the payer proceeds. Instant transfers cannot cost more than corresponding standard transfers.
Suppliers now need to process payments around the clock, make quick fraud decisions and keep the accounts in order. It also creates more competition for card-based checkout. A merchant still needs a smooth buying experience, refunds and support when something goes wrong. The interesting progress is a payment method working repeatedly for merchants, not simply a faster transfer in a demonstration.
Sources
- ECB · Payments statistics, second half of 2025; released July 2026
- ECB · Instant Payments Regulation and implementation dates
Updated
Research & reports
No ETE reports have been published on this theme yet.