Digital Payments

Global Digital Payment Statistics: Examining Digital Currency’s Impact on Forex Trading

The global digital payment landscape is constantly evolving as more and more individuals, businesses, and organizations are turning to digital payment solutions to streamline and simplify their transactions. According to recent statistics, the global digital payments market is projected to reach $2,735.9billion by 2027, at a CAGR of 20.4%. The U.S. payment industry is predicted to grow to $721.7 billion in 2024 stemming from rising consumer demand and increased mobile payment adoption, while the Asia-Pacific Digital Payments market is expected to witness the fastest CAGR of 21.39% during the forecast period 2019-2027. Digital payment methods, such as e-wallets, cash cards, peer-to-peer (P2P) money transfer app, and cryptocurrencies, are gaining traction across the globe due to their convenience and cost-effectiveness.