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Innovation

World Payments Report 2025

Velocity, meet value
Lead in the open and instant future of payments

The global payments industry is undergoing a seismic shift as consumers increasingly adopt digital transactions over cash. Supportive regulations and innovative industry initiatives, especially open finance and instant payments, are both playing key roles in this transformation.

The World Payments Report 2025, our 20th anniversary edition of this report, reflects the views of 600 corporate treasurers from across three industries: insurance, retail, and automotive. It also includes payments insights from focused interviews and surveys with over 200 senior payment executives of leading banks (Tier I and Tier II), financial service organizations, payment service providers, industry associations, and central banks representing all regions of the globe – the Americas, Europe, and Asia-Pacific/Middle East. Key findings include:

  • Banks need to adopt a multi-rail payments approach, protecting existing global payments revenue streams while exploring innovative instant payment services enabled by open finance
  • Current corporate transaction banking and corporate cash management services fall short of expectations: PSPs should work toward real-time payment solutions and real-time cash visibility and helping drive operational efficiency
  • Stop-gap tactical adjustments must give way to larger strategic shifts aimed at maintaining competitiveness and driving profitable long-term growth in the future of payments.

Gear up for the instant payments revolution

Our report offers insights and strategies to help banks and other payment services providers meet and exceed customer expectations and grow profitability during this transformative period for the industry:

  • Embrace both open finance and instant payments while driving synergies – building the business case to fund needed investments
  • Agility is paramount, and cloud-based, composable platforms offer transformation flexibility and scalability
  • Develop innovative and adaptive cross-product, multi-rail value propositions that deliver a superior experience for customers.
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World Payments Report 2025 highlights

Highlight 1

The transition from a “less cash” to “cashless” global economy is well under way.

Non-cash transaction volumes are increasing year on year. The pandemic-driven shift to online shopping has reduced cash use and increased digital payments, with businesses expanding e-commerce and instant payment infrastructures to support seamless, omnichannel experiences and diverse digital payment options. Global B2B non-cash transaction volume is undergoing similar significant growth because of the rapid digitizing of B2B payments.

Instant payments volumes will grow significantly by 2028.

Instant payment transaction volumes will grow on the back of expanding instant payment schemes (such as SEPA in Europe, APAC- UPI in India and FPS in Hong Kong, and ACH and more in North America), and national initiatives coupled with cross-border payment infrastructures (such as AFAQ in the Middle East, DuitNow in Malaysia, and more). All of these will lead to reduced friction and increased adoption among consumers and businesses.

Corporations are willing to pay a fee for instant capabilities to address value chain complexities.

Corporates can address corporate treasury and cash management challenges by adopting capabilities they value most, and they have a willingness to pay a premium for such solutions. Value-added treasury services, including real-time payment solutions, to enable real-time responses to the complexities of corporate value chains across instant payments, rich payment data, and open finance APIs show that real-time treasury solutions are the desired outcome.

Banks are seriously underprepared for instant payments acceleration.

Banks require both a significant technological and business push to adopt instant payment services, with only 5% of global banks having high business and technology scores, and so positioned as leaders in instant payment adoption. Future-focused banks need to ramp up preparations to gain competitive advantage.

World Payments Report 2023

World Payments Report 2022
World Payments Report 2021

The information in this report is general and not intended as legal, tax, investment, financial, or professional advice. Capgemini assumes no liability for errors or omissions or the use of this material. This report is for informational purposes only and may not address your specific needs. Capgemini disclaims responsibility for translation inaccuracies and provides the information “as-is,” without warranties. Capgemini will not be liable for any losses arising from reliance on this information.


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Meet our experts

Nilesh Vaidya

Nilesh Vaidya

Global Industry Head – Retail Banking & Wealth Management

Jeroen Holscher

Jeroen Holscher

Expert in Banking, Cash management, Payments

Elias Ghanem

Elias Ghanem

Global Head of Capgemini Research Institute for Financial Services

Christophe Vergne

Christophe Vergne

Expert in Cards and Payments

Venugopal PSV

Venugopal PSV

Senior Director, Cards and Payments practice

No posts

Executive steering committee

Pierre-Antoine Vacheron

Pierre-Antoine Vacheron

CEO

BPCE Payments

Emanuela Saccarola

Emanuela Saccarola

TTS Head of Cross Border Payments

Citi Services

Tino Kam

Tino Kam

Product Area Lead, Payment & Settlement Services

ING Bank

Lionel Chaine

Lionel Chaine

Chief Information Officer

Bpifrance

Anand Sampath

Anand Sampath

Managing Director, Head – Global Payments & Collections, GTB

First Abu Dhabi Bank

Ben Isaacson

Ben Isaacson

SVP, Product Strategy

The Clearing House

Édouard Mandon

Édouard Mandon

Co-founder & CEO

Numeral

Rupak Das

Rupak Das

Managing Director – Payments Sales

Thought Machine

Nilesh Dusane

Nilesh Dusane

Global Head of Institutional Payments

Amazon Web Services

Matt Wegner

Matt Wegner

Vice President, Global Payments & Risk

Adobe

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