Agentic AI, Digital Currencies, and Real-Time Payments Redefine Industry Growth
Global payments revenue is projected to reach $2.4 trillion by 2029, according to Boston Consulting Group (BCG). While annual growth is expected to moderate to 4%, agentic AI, digital currencies, and fintech models are reshaping the industry.
The findings come from BCG’s 23rd annual Global Payments Report, The Future Is (Anything but) Stable. The report analyzes over 60 economies representing 90% of global GDP and highlights five structural forces driving change: agentic AI, stablecoins, fintech disruption, real-time account-to-account (A2A) systems, and cost transformation.
Inderpreet Batra, BCG managing director and senior partner, said traditional growth levers are slowing. However, agentic systems, programmable money, and fintech innovation are emerging rapidly. Early alignment to these shifts will define market leaders.”
Key Insights from the Report
- Global payments revenue reached $1.9 trillion in 2024, growing at 8.8% annually since 2019, but growth will ease to 4% per year.
- Latin America leads projected revenue growth at 7.9% annually, followed by the Middle East and Africa at 6.8%. Europe, North America, and Asia-Pacific are expected to grow at 3.5%, 3.4%, and 3.3% respectively.
- Agentic AI is set to influence over $1 trillion in e-commerce, with 81% of US consumers planning to use AI shopping tools.
- Stablecoins reached $26 trillion in volume, mostly in crypto trading; real-world payments still account for just 1%.
- Payments fintechs generated $176 billion in 2024 revenue, growing 23% annually and now represent 45% of total fintech revenue.
- Real-time A2A payments grew 40% in 2024 and now account for one-quarter of digital retail payments globally. Adoption exceeds 50% in markets like India and Brazil.
Markus Ampenberger, BCG managing director and partner, added, “Future winners will not only adopt new technology but also fully integrate capabilities into business models and customer experiences.”
Explore Finance Tech News for the latest innovations in financial technologies and expert insights shaping the future of digital finance!
News Source: Prnewswire.com