The digital payments market is one of the largest and fastest-growing businesses within the finance and tech sectors. Adoption of digital payments over traditional cash and credit cards accelerated during the pandemic in 2020 and 2021.
The adoption of digital payments has also coincided with the transition of the global retail sector from brick-and-mortar stores to online sales. Technavio estimates the global digital payments market will grow by 17.4% annually through 2026, increasing in value by $85.1 billion in that time period.
