결제 및 정산 시장 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the payments and settlements market size is expected to increase from USD 2.47 trillion in 2025 to USD 2.62 trillion in 2026 and reach USD 3.70 trillion by 2031, growing at a CAGR of 7.12% over 2026-2031.

This report is Segmented by Mode of Payment (Card, Wallets, and More), Payment Type (Domestic, Cross-Border), Transaction Type (B2B, C2B, B2C, C2C), End-User (Retail and E-Commerce, and More), Settlement Rail and Infrastructure (Card, ACH, RTGS, Instant, SWIFT, DLT), and Geography (North America, South America, Europe, Asia-Pacific, MEA). Forecasts are Provided in Terms of Value (USD).

Global Payments and Settlements Market Trends and Insights

Expansion of Cross-Border Commerce and Digital Marketplaces

Digital commerce is increasing the demand for payment services that can settle across borders with clear fees and predictable delivery times. The global payments and settlements market benefits when merchants can serve new countries without having to rebuild checkout and treasury processes for each corridor. Legacy correspondent banking can support global reach, but it remains less effective where domestic delivery creates most of the delay. The BIS identified longer operating hours for fast-payment systems and broader interconnections among them as major actions to improve cross-border payments across 82 jurisdictions. Swift introduced a retail framework in March 2026 with more than 70 financial institutions, while noting that domestic last-mile delivery accounted for 75% of total end-to-end payment time. This makes domestic infrastructure reform as important as network-level speed for providers serving international merchants.

Government Instant-Payment Rails Accelerating Account-to-Account Adoption

Government-operated instant-payment systems can directly alter merchant payment economics by offering low-cost account-to-account transfers. India's UPI processed 228.5 billion transactions in 2025, while Brazil's PIX processed 79.8 billion transactions in the same year, underscoring the scale of public payment infrastructure. PIX represented 54.7% of Brazil's retail payment transactions in the second half of 2025, which indicates that a zero-fee rail can displace card use in everyday payments. In the United States, FedNow reached 1,800 enrolled institutions and settled USD 853.4 billion during 2025, although its operating model differs from public rail designs. The global payments and settlements market, therefore, includes both public systems that can set fee conditions and private systems that must balance participant incentives. Payment sovereignty also supports domestic rail links, especially where countries want local control while still connecting to regional payment corridors.

Payment Fraud, Account Takeover, and Authorized Push-Payment Scams

Real-time payments create a difficult fraud-control problem because funds can move before an institution has time to intervene. Authorized push-payment scams exploit this feature by persuading a customer to approve a payment that appears legitimate. Account-takeover losses exceeded USD 15 billion globally in 2025, even as the reported value declined from the prior year, according to TransUnion. The same release stated that 6 million consumers were affected, a 18% increase in the number of victims. The payments and settlements market must therefore treat verification, monitoring, and customer protection as core payment functions rather than optional additions. Reimbursement requirements and related policy responses can place greater cost pressure on smaller providers that lack mature fraud-detection capabilities.

Other drivers and restraints analyzed in the detailed report include:

1. Growth of Digital Remittances and Embedded Payouts
2. ISO 20022 Enabling Rich-Data Payment Automation
3. Fragmented Cross-Border Compliance and Data-Transfer Rules

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Card payments accounted for 37.7% of the payments and settlements market in 2025, supported by broad acceptance networks and tokenized credentials that extend card use into digital wallets. Card networks still provide established rules for authorization, dispute management, and fraud liability. In the United States, combined purchase volume across the largest card networks reached USD 11.46 trillion in 2025. Digital wallets and account-to-account payments compete with card-based economics by enabling consumers to pay via applications or bank accounts. The global payments and settlements industry is therefore not replacing cards with a single alternative but adding more choices to the checkout and settlement stack.

Digital assets, stablecoins & tokenised payments are forecast to expand at a 16.3% CAGR through 2031, the fastest growth rate within this segmentation. This mode is being used more often for institutional settlement than for retail cryptocurrency activity alone. Visa reported that its stablecoin settlement program operated across 9 blockchains and reached a USD 7 billion annualized run rate in April 2026. Traditional bank transfers, buy-now-pay-later services, and embedded credit remain part of the payment mix. Buy now, pay later offerings are increasingly built into retail and travel checkout software, rather than being offered only as separate consumer products.

Domestic payments held 72.5% of the payments and settlements market in 2025 because local retail and business activity remains much larger than international payment flows. Domestic systems also tend to have simpler rules, known participants, and lower processing costs. Cross-border payments are forecast to grow at a 9.2% CAGR through 2031 as faster payment links, corridor digitization, and treasury tools reduce friction. The FSB began a new public-private implementation phase in March 2026 to advance the G20 cross-border payments program. This work prioritizes operational reliability and shared implementation over isolated technical pilots. The global payments and settlements market can benefit when these initiatives turn separate domestic systems into usable commercial corridors.

Project Nexus became a legal entity in 2025 through the participation of the central banks of India, Indonesia, Malaysia, the Philippines, Singapore, and Thailand. The arrangement is designed to support multilateral links between fast-payment systems. Markets with linked domestic rails can reduce cost and settlement delays more quickly than markets that rely only on correspondent banking. Merchants and treasury managers consequently need systems that can route transactions among domestic, real-time, and tokenized rails. The global payments and settlements industry is increasingly adopting payment orchestration platforms that make these choices without disrupting the customer experience.

Complete Report Scope:

• By Mode of Payment
  • Card Payments (Debit, Credit, Prepaid)
  • Digital Wallets & Mobile Money
  • Account-to-Account & Instant Payments
  • Traditional Bank Transfers
  • Buy Now, Pay Later & Embedded Credit
  • Digital Assets, Stablecoins & Tokenised Payments
  • Other Payments
• By Payment Type
  • Domestic
  • Cross-Border
• By Transaction Type
  • Business-to-Business Payments
  • Consumer-to-Business Payments
  • Business-to-Consumer Payments
  • Consumer-to-Consumer Payments
• By End-User Industry
  • Retail and E-Commerce
  • Banking and Financial Services
  • Healthcare
  • Hospitality, Travel, and Tourism
  • Government and Public Sector
  • Education
  • Transportation and Mobility
  • Manufacturing and Industrial Services
  • Professional Services and Business Services
  • Other Industries
• By Settlement Rail and Infrastructure
  • Card-Network Settlement
  • Automated Clearing House Settlement
  • Real-Time Gross Settlement
  • Fast / Instant Payment Systems
  • Correspondent Banking and SWIFT-Based Settlement
  • Payment-System Interlinking
  • Tokenized and Distributed-Ledger Settlement
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Vietnam
    • Rest of Asia-Pacific
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Turkey
    • South Africa
    • Egypt
    • Rest of Middle East and Africa

Geography Analysis

North America held a 34.5% regional share in 2025, supported by high card usage and a developing instant-payment ecosystem. FedNow settled USD 853.4 billion in 2025 across 1,800 enrolled institutions. The Clearing House RTP network processed USD 480 billion in the first quarter of 2026, with both major United States rails using a USD 10 million transaction limit. Private operating models mean that banks still need a clear commercial reason to adopt and use those rails at scale. Canada's open banking work can support account-to-account initiation.

Asia-Pacific is forecast to grow at a 9.9% CAGR through 2031, the fastest regional rate in the global payments and settlements market. India's UPI processed 228.5 billion transactions in 2025, a 33% increase from the prior year. China is developing payment infrastructure with a strong domestic-control approach, including the Digital Renminbi International Operations Center, launched in Shanghai in September 2025. Japan's cashless payment ratio reached 58% in 2025, exceeding its government target. Indonesia, Vietnam, Thailand, Malaysia, and Singapore are also progressing through regional fast-payment connections.

Europe has advanced wholesale and corporate payment systems, but retail payments remain divided among national schemes. Swedish banks began migrating to a new credit-transfer infrastructure in April 2026, with a wider batch-payment migration planned for November 2026. Wero began rolling out in Germany in late 2025 and is expanding to France and Belgium in 2026. In South America, PIX reached 54.7% of retail payment transactions in Brazil during the second half of 2025. The Middle East and Africa are expanding domestic payment infrastructure and regional interoperability, including payment capabilities connected with Gulf digitization programs.

List of Companies Covered in this Report:

1. Visa Inc.
2. Mastercard Incorporated
3. China UnionPay Co., Ltd.
4. American Express Company
5. PayPal Holdings, Inc.
6. Fiserv, Inc.
7. Fidelity National Information Services, Inc.
8. Global Payments Inc.
9. Adyen N.V.
10. Stripe, Inc.
11. Block, Inc.
12. Worldline SA
13. Ant Group Co., Ltd.
14. Apple Inc.
15. Google LLC
16. Amazon.com, Inc.
17. Juspay Technologies
18. Wise plc
19. Western Union Holdings, Inc.
20. MoneyGram International, Inc.
21. Airwallex (Hong Kong) Limited
22. J.P. Morgan Chase & Co.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Expansion of Cross-Border Commerce and Digital Marketplaces
  • 4.2.2 Government Instant-Payment Rails Accelerating Account-to-Account Adoption
  • 4.2.3 Growth of Digital Remittances and Embedded Payouts
  • 4.2.4 ISO 20022 Enabling Rich-Data Payment Automation
  • 4.2.5 Payment Sovereignty and Interoperable Domestic-Rail Linkages
• 4.3 Market Restraints
  • 4.3.1 Payment Fraud, Account Takeover, and Authorized Push-Payment Scams
  • 4.3.2 Fragmented Cross-Border Compliance and Data-Transfer Rules
  • 4.3.3 Legacy Settlement Windows and Liquidity Requirements
  • 4.3.4 Inconsistent API, Identifier, and Data Standards Across Payment Systems
• 4.4 Value and Supply-Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
  • 4.6.1 Artificial Intelligence and Machine-Learning Payment Optimization
  • 4.6.2 Payment Orchestration and Intelligent Transaction Routing
  • 4.6.3 Digital Identity, Passkeys, and Biometric Authentication
• 4.7 Porter's Five Forces Analysis
  • 4.7.1 Threat of New Entrants
  • 4.7.2 Bargaining Power of Suppliers
  • 4.7.3 Bargaining Power of Buyers
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS

• 5.1 By Mode of Payment
  • 5.1.1 Card Payments (Debit, Credit, Prepaid)
  • 5.1.2 Digital Wallets & Mobile Money
  • 5.1.3 Account-to-Account & Instant Payments
  • 5.1.4 Traditional Bank Transfers
  • 5.1.5 Buy Now, Pay Later & Embedded Credit
  • 5.1.6 Digital Assets, Stablecoins & Tokenised Payments
  • 5.1.7 Other Payments
• 5.2 By Payment Type
  • 5.2.1 Domestic
  • 5.2.2 Cross-Border
• 5.3 By Transaction Type
  • 5.3.1 Business-to-Business Payments
  • 5.3.2 Consumer-to-Business Payments
  • 5.3.3 Business-to-Consumer Payments
  • 5.3.4 Consumer-to-Consumer Payments
• 5.4 By End-User Industry
  • 5.4.1 Retail and E-Commerce
  • 5.4.2 Banking and Financial Services
  • 5.4.3 Healthcare
  • 5.4.4 Hospitality, Travel, and Tourism
  • 5.4.5 Government and Public Sector
  • 5.4.6 Education
  • 5.4.7 Transportation and Mobility
  • 5.4.8 Manufacturing and Industrial Services
  • 5.4.9 Professional Services and Business Services
  • 5.4.10 Other Industries
• 5.5 By Settlement Rail and Infrastructure
  • 5.5.1 Card-Network Settlement
  • 5.5.2 Automated Clearing House Settlement
  • 5.5.3 Real-Time Gross Settlement
  • 5.5.4 Fast / Instant Payment Systems
  • 5.5.5 Correspondent Banking and SWIFT-Based Settlement
  • 5.5.6 Payment-System Interlinking
  • 5.5.7 Tokenized and Distributed-Ledger Settlement
• 5.6 By Geography
  • 5.6.1 North America
    • 5.6.1.1 United States
    • 5.6.1.2 Canada
    • 5.6.1.3 Mexico
  • 5.6.2 South America
    • 5.6.2.1 Brazil
    • 5.6.2.2 Argentina
    • 5.6.2.3 Rest of South America
  • 5.6.3 Europe
    • 5.6.3.1 United Kingdom
    • 5.6.3.2 Germany
    • 5.6.3.3 France
    • 5.6.3.4 Italy
    • 5.6.3.5 Spain
    • 5.6.3.6 Rest of Europe
  • 5.6.4 Asia-Pacific
    • 5.6.4.1 China
    • 5.6.4.2 Japan
    • 5.6.4.3 India
    • 5.6.4.4 South Korea
    • 5.6.4.5 Australia
    • 5.6.4.6 Indonesia
    • 5.6.4.7 Thailand
    • 5.6.4.8 Malaysia
    • 5.6.4.9 Singapore
    • 5.6.4.10 Vietnam
    • 5.6.4.11 Rest of Asia-Pacific
  • 5.6.5 Middle East and Africa
    • 5.6.5.1 Saudi Arabia
    • 5.6.5.2 United Arab Emirates
    • 5.6.5.3 Turkey
    • 5.6.5.4 South Africa
    • 5.6.5.5 Egypt
    • 5.6.5.6 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)
  • 6.4.1 Visa Inc.
  • 6.4.2 Mastercard Incorporated
  • 6.4.3 China UnionPay Co., Ltd.
  • 6.4.4 American Express Company
  • 6.4.5 PayPal Holdings, Inc.
  • 6.4.6 Fiserv, Inc.
  • 6.4.7 Fidelity National Information Services, Inc.
  • 6.4.8 Global Payments Inc.
  • 6.4.9 Adyen N.V.
  • 6.4.10 Stripe, Inc.
  • 6.4.11 Block, Inc.
  • 6.4.12 Worldline SA
  • 6.4.13 Ant Group Co., Ltd.
  • 6.4.14 Apple Inc.
  • 6.4.15 Google LLC
  • 6.4.16 Amazon.com, Inc.
  • 6.4.17 Juspay Technologies
  • 6.4.18 Wise plc
  • 6.4.19 Western Union Holdings, Inc.
  • 6.4.20 MoneyGram International, Inc.
  • 6.4.21 Airwallex (Hong Kong) Limited
  • 6.4.22 J.P. Morgan Chase & Co.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment