10 Years of Cash, Cards and Crypto: Worldpay’s Global Payments Report Tracks a Decade of Transformation

CINCINNATI--(BUSINESS WIRE)--The 10th edition of the Worldpay^® Global Payments Report (GPR), released today, reveals a global transformation in payments. In just a decade, innovation such as digital wallets, buy now pay later (BNPL) and real-time account-to-account (A2A) technology has revolutionized the way consumers pay. Spending through digital payment methods* in e-commerce and in-person shopping grew from $1.7 trillion in 2014 to $18.7 trillion globally in 2024, a nearly eleven-fold increase. The total value of digital payments is expected to exceed $33.5 trillion by 2030.

“Consumer payment preferences have changed dramatically since we launched the first edition of the Worldpay Global Payments Report in 2015. A confluence of factors - advancements in smartphone technology, the exponential growth of fintech, and supportive regulatory frameworks - combined with changing consumer expectations for ease and convenience, have fundamentally transformed the way we make payments,” said Adam Coyle, chief strategy officer at Worldpay. “The Global Payments Report has been central to sharing our expertise in evolving consumer habits and their impact on the payments industry with merchants, partners and the fintech community.”

The GPR is a comprehensive annual study providing valuable insights into the trends that have defined the past, present and future of payments. This year’s report looks back at a decade of data to highlight the seismic shifts in payment habits since its launch in 2015 while looking at the trends that will shape payments through 2030.

A Decade of Payments Transformation: Trends That Have Changed the Way We Pay

The evolution of the smartphone has underpinned the e-commerce market boom and reshaped how consumers pay:

• Global e-commerce spend increased from $1.2 trillion in 2014 to over $6.8 trillion in 2024, marking a more than six-fold increase.
• Smartphone’s share of global e-commerce spend tripled over the past decade increasing from 19% in 2014 to 57% in 2024.

From alternative to essential, consumers have made digital payments the new normal:

• Digital wallets represent 53% of e-commerce and 32% of point of sale spend in 2024.
• Between 2014 and 2024 digital wallet use grew ten-fold online and in-store, accounting for $3.6 trillion and $12 trillion in spend, respectively.
• Buy now pay later (BNPL) saw rapid market acceptance, with online spending growing from $2.2 billion in 2014 to $342 billion in 2024.

A2A payments have emerged as critical infrastructure in markets especially where regulatory support has paved the way for mass adoption:

• Global A2A e-commerce spend is projected to hit $936 billion by 2030, up from $152 billion in 2014.
• Emerging economies, such as Brazil, once reliant on cash, have reshaped their payment systems. With the launch of Brazil’s Pix, the value of A2A e-commerce spend in the market increased from $3.6 billion in 2020 to $35.3 billion in 2024.

Cash Declines, Cards Evolve: How Traditional Payments Have Adapted to a Digital World

Cards remain relevant with innovative features such as one-click checkout, installment options and digital wallet compatibility:

• 67% of all U.S. consumer spending (e-commerce and point of sale) in 2024 came directly via credit, debit and pre-paid cards.
• Digital wallets' share of online spending increased from 15% to 39% between 2014 and 2024 in the U.S and grew eight-fold at the point of sale, from 2% to 16%. Sixty-five percent of Americans fund their digital wallets with credit and debit cards.
• Between 2014 to 2024, cash use slipped from 44% of in-store spend to 15% as the 2020 global pandemic helped accelerate the shift to contactless payment methods.
• Cash use decline has reached a relative plateau in many markets and is expected to decline globally at a rate of 2% compounded annually through 2030.

Coyle continued, "To keep pace as consumers increasingly embrace innovation, merchants must adapt to the shifting payments landscape. The past decade's payment revolution was driven by advancing mobile technology and societal shifts, particularly during the global pandemic. Merchants who tapped into the changing trends early have thrived. The ongoing proliferation of digital technologies will shape commerce by further merging online and in-store experiences, enhancing convenience, reliability, security and speed."

The Shape of Things to Come: What’s Around the Corner in Payments

Fintechs, embedded finance and novel technologies like cryptocurrencies will likely shape the next five years of payments trends. By 2030, Worldpay’s findings indicate:

• Digital payments will consolidate their footprint, capturing 79% of all spend online and reaching 53% of in-store spend.
• Over $28 trillion will be spent via digital wallets globally, online and in-store.
• Cryptocurrency could be poised to further change the payments landscape as global crypto spend is expected to more than double over the next five years, from $16 billion in 2024 to $38 billion to 2030.

*Digital payments include account-to-account (A2A), buy now pay later (BNPL), cryptocurrencies and digital wallets.

About The Worldpay Global Payments Report

Published continuously since 2015, the Worldpay Global Payments Report 2025 offers a snapshot of today’s payments landscape: globally, by region and in 40 select markets. The report tracks consumer payments when shopping online and at the point of sale, identifies key payment trends, and projects future scenarios for payment method shares as well as market size. Methodology can be found on page 160 of the report.

To download the full report, visit: https://www.worldpay.com/global-payments-report

About Worldpay

Worldpay is an industry leading payments technology and solutions company with unique capabilities to power omni-commerce across the globe. Our processing solutions allow businesses of all sizes to take, make and manage payments in-person and online from anywhere in the world. Annually, we process over 50 billion transactions across 146 countries and 135 currencies. We help our customers become more efficient, more secure and more successful. To learn more, visit worldpay.com or follow us on LinkedIn, Instagram, X, and or Facebook.