The global digital payment market is expected to reach USD 510.30 billion (MYR 2,374 billion) by 2032, driven by the rising adoption of cashless transactions, cost savings, and enhanced security. The Asia-Pacific region is poised for the highest growth rate, fueled by government initiatives and the popularity of mobile payment services.
he global digital payment market is poised for significant growth, with The Brainy Insights projecting a surge from USD 102.60 billion (MYR 477.3 billion) in 2022 to USD 510.30 billion (MYR 2,374 billion) by 2032. The rise in cashless transactions, coupled with benefits such as cost savings, transparency, and enhanced security, has fueled the adoption of digital payments across various industries. The Asia-Pacific region is expected to witness the highest growth rate, driven by initiatives by governments and the increasing popularity of mobile payment services. Managed services, payment gateways, cloud deployment, net banking, SMEs, and the retail & e-commerce sector are identified as key segments driving market expansion.
The digital payment market is on a trajectory of remarkable growth, estimated to reach USD 510.30 billion (MYR 2,374 billion) by 2032, driven by the increasing adoption of cashless transactions, the advantages of cost savings, transparency, and enhanced security. The Asia-Pacific region is expected to witness the highest growth rate, propelled by government initiatives and the widespread usage of mobile payment services.
