Digital Lifescapes

The world of eCommerce payments has evolved. As we look toward the latter half of this decade, we're witnessing a transformation in how digital commerce operates, with a clear shift toward localized payment solutions within a global marketplace. The numbers tell a compelling story. According to Juniper Research's latest analysis, global eCommerce transactions are set to reach $11.4 trillion by 2029, marking a 63 percent increase from $7 trillion in 2024. This growth isn't just about volume – it's about fundamental changes in how people pay for goods and services online. Perhaps most striking is the projected dominance of Alternative Payment Methods (APMs), which are expected to account for 69 percent of global transactions by 2029, with 360 billion transactions processed through these channels. eCommerce Payments Market Development What makes this shift particularly interesting is how it reflects the democratization of digital commerce. Traditional card-based systems ar...

The rapid growth of eCommerce has brought convenience to consumers worldwide, but it has also opened new avenues for fraudsters to exploit. As online transactions become increasingly prevalent, retail merchants face mounting challenges in safeguarding revenues and maintaining customer trust. This evolving threat of merchant fraud prevention is at a critical juncture, with emerging technologies playing a pivotal role in the ongoing battle against sophisticated fraud threats. Fraud Prevention Market Development The eCommerce boom, accelerated by the COVID-19 pandemic, has created a fertile ground for fraudulent activities. Merchants across various industries are grappling with implementing robust fraud detection and prevention measures to mitigate unnecessary revenue losses from chargebacks and order reprocessing. The stakes are high, as evidenced by Juniper Research's latest market study which forecasts the value of eCommerce fraud will rise from $44.3 billion in 2024 to $107 billio...

The eCommerce payments landscape is significantly transformed, driven by technological advancements, changing consumer preferences, and evolving regulatory frameworks. As global commerce increasingly shifts online, the methods and tech underlying eCommerce payments are evolving to meet growing demands for convenience, security, and efficiency. According to the latest worldwide market study by Juniper Research, the global eCommerce transaction value is forecast to reach $11.4 trillion by 2029 -- that's up from $7 trillion in 2024.  This 63 percent increase over five years underscores eCommerce's rapid expansion and adoption in key markets across the globe. eCommerce Payments Market Development "Alternative payment options have grown substantially, with APM transaction volumes leapfrogging cards in emerging markets. As merchants look to attract new users and geographies, they must consider offering APMs a key strategy to accomplish this," said Lorien Carter, research an...

Anti-Money Laundering (AML) systems are rapidly evolving to compensate for the constant increase in volume and complexity of online financial crime. AML solutions help combat the sophisticated methods criminals use to avoid detection. AML includes a set of policies, procedures, and technologies that prevent the process of taking illegally obtained money and making it appear to have come from a legitimate source. The AML term arose from regulatory standards, specifically to detail the concealing of financial movements for underlying crimes ranging from tax evasion, drug trafficking, public corruption, and the financing of terrorist groups. Intelligent AML Systems Market Development According to the latest worldwide market study by Juniper Research, by 2028 the total spend on third-party AML systems will have grown by 80 percent -- that's up from $28.7 billion in 2024. This significant market growth will be driven by the use of artificial intelligence (AI) technologies to assist AML ...

Protecting payment data is integral to the security of the digital payments ecosystem. In an increasingly interconnected world, with a growing number of payment options, the need for strong security solutions is clear. With so many payment methods now in use, the need to ensure that consumer data is protected across all channels is growing. One of the core concerns for many forms of data protection is Payment Card Industry Data Security Standards compliance. Network Tokenization is a technology that replaces payment card data with a network-issued token and unique transaction cryptograms. The technology reduces the potential for fraud, improves the merchant and consumer experience, increases approval rates, and reduces overall transaction costs. Network Tokenization Market Development According to the latest worldwide market study by Juniper Research, they forecast substantial growth of 190 percent in network-tokenized transactions -- reaching 400 billion globally in 2028, that's u...

The financial payments sector has experienced rapid growth. New payment methods have been adopted and enhanced by financial service providers, as we increasingly move towards a global cashless society. Traditional financial IT vendors and payment solution providers are learning to adapt. This will include companies who operate in the prepaid cards marketplace. Prepaid cards are a well-established technology, and part of the evolving payments market. Even so, there have been many new developments and transitions that create opportunities for growth. Digital Prepaid Card Market Development According to the latest worldwide market study by Juniper Research, the value of digital prepaid card transactions will exceed $3.98 trillion globally by 2028 -- that's up from $528.7 billion in 2023.  By 2028, the value of digital prepaid card transactions will represent just under 60 percent of total prepaid cards spend, up from 15 percent in 2023, demonstrating the rapid growth of Fintech soluti...

The recurring subscription payments market is undergoing significant growth, primarily driven by the acceleration of consumer adoption. The market deals with periodic subscriptions to a variety of goods and services offered as an alternative payment model. While subscriptions have existed for a long time, their use in the consumer products marketplace is still evolving. Despite the usage being relatively new, the proliferation has been rapid and has spanned many different vertical markets. Recurring Payments Market Development According to the latest worldwide market study by Juniper Research, the transaction value of recurring payments will exceed $15.4 trillion globally in 2027 -- that's up from $13.2 trillion in 2023. This relatively slow growth of 17 percent reflects that recurring payments are a well-established market, but also disguises a rapid change of payment methods in the space, with Open Banking and Digital Wallet payments outstripping overall growth. As more retail me...

Protecting online payment data is integral to the security of the digital payments ecosystem. In an increasingly interconnected world, with a growing number of payment options, the need for strong security solutions is paramount. Payments currently fall under four main categories: card present transactions, eCommerce payments, mobile payments, and Internet of Things (IoT) payments. With so many digital payment methods now in use, the need to ensure that consumer data is protected across all channels is growing rapidly. According to the latest worldwide market study by Juniper Research , the total number of tokenized payment transactions will exceed one trillion globally by 2026 -- that's rising from 680 billion in 2022. Tokenized Payment Market Development This trend represents a growth of 58 percent over the next 4 years. Juniper attributed this growth to the rise of ‘one-click’ solutions -- such as Click-to-Pay -- that use card-on-file tokenization to store a customer’s payment c...

Fact: online payments are a prime target of cyber-criminals. There are millions of potential loopholes to exploit as payment card details are stored while processing routine online eCommerce transactions. The Dark Web is where criminals interact without being traced. This is where fraudsters buy and sell payment card details and share information on how to steal funds, and the best tools to use. From market data, it's clear that online retail payments are convenient. However, they've also created a playground for people intent on defeating the structures on which online payments rely. Trust, it seems, is breaking down. Plus, the security threats continue to evolve and test anti-fraud measures. Online Payment Market Development According to the latest worldwide market study by Juniper Research, the cumulative merchant losses to online payment fraud between 2023 and 2027 are forecast to exceed $343 billion. As a comparison, this equates to over 350 percent of Apple’s reported net...

Although the rise of electronic commerce has slowed somewhat since the initial explosive growth, the overall volume and value of eCommerce transactions continue to climb. There are several drivers supporting this growth. A key driver is the international adoption of a Global Networked Economy. According to the latest worldwide market study by Juniper Research, the value of international cross-border eCommerce is forecast to exceed $2.1 trillion in 2023 -- that's up from $1.9 trillion in 2022. International eCommerce Market Development This growth of over 13 percent in a single year reflects the increasing success of online marketplaces that offer goods across borders, as well as the rising viability of cross-border sales as an eCommerce model.  The new research study found that as eCommerce models diversify -- including models such as buy now pay later and click and collect -- cross-border options must also keep pace, by enabling local distribution and payment partnerships. Juniper...

Digital identity is constantly evolving and increasingly combined with allied areas, such as online security, privacy, and the management of identity-related data. Digital identity is essentially an online persona of a subject, or a unique representation of a subject, engaged in an online transaction. However, digital identity presents a more complex picture when current multi-use ecosystems that are heavily dependent on the sharing of identity credentials are considered. Such an identity is made up of identifiers and patterns that are unique to the subject of identity, which is broadly described as attributes. These attributes (inherent or ascribed) are core biographic data (e.g. name and address) and certain biometric features (e.g. fingerprints, iris scan) electronically captured in the context of personal digital identity. Digital Identity Market Development According to the latest worldwide market study by Juniper Research, revenue for digital identity vendors will exceed $53 bill...

Business-to-Business (B2B) payments represent a significant upside growth opportunity for fintech vendors. While many businesses have been transferring funds to each other for a long time, the typical process remains difficult to navigate due to the many workflow challenges. B2B payments can take a variety of forms ranging from basic cash payments to sophisticated instruments like virtual cards, which solve the problems of B2B payments to varying degrees, but some core challenges remain. The ever-greater use of process automation is also a key trend within the B2B payments arena and represents a potential solution if the underlying payment systems can support the necessary elements. B2B Payments Market Development According to the latest worldwide market study by Juniper Research, the transaction value of B2B domestic payments across payment methods will exceed $54 trillion in 2023 -- that's up from $49 trillion in 2021. The research findings predict a growth rate of 10 percent, re...

Banking relationships are important to financial service providers. Traditionally, a banking relationship could reasonably be expected to last a customer's lifetime. However, the introduction of online and mobile banking has fundamentally altered expectations, disrupting the legacy banking business model. Measures to increase competition and make switching accounts easier have eroded friction, while the commoditization of services in the U.S. market has led to reductions in profit margins. Moreover, following the introduction of open technologies, APIs have begun to be a disruptive force in banking. APIs enable different systems to share data and initiate transactions, which can simplify the creation of new financial service offerings. This has helped to facilitate the Open Banking phenomenon. Open Banking Market Development According to the latest worldwide market study by Juniper Research, the total number of Open Banking users -- who share data via Open Banking APIs to a...

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. The quest to discover meaningful commercial applications for blockchain, beyond cryptography apps, has begun across the globe. 451 Research revealed that 28 percent of enterprises are now evaluating or using blockchain, although fewer than 3 percent have any production applications. Blockchain Market Development According to the study, 20 percent of organizations surveyed are using blockchain in a discovery or evaluation phase, 4 percent running trials or pilots, 2 percent in test and development environments, 2 percent undertaking initial implementations of production applications and less than 1 percent have broad implementation of production applications. Furthermore, the market is rife with vendor misrepresentation about blockchain apps, and there is little understan...

The convenience and global reach made possible by online channels has led to the development of a broad set of digital eCommerce services. However, the accessibility of the Internet and the ability to commit fraud remotely creates an environment for cyber criminals to prosper. Meanwhile, the potential attack surface for miscreants is enormous -- about 94 billion transactions were made for remote goods purchases in 2016, which is only a fraction of the total eCommerce landscape. That said, advanced security measures are increasingly being implemented to protect against fraud carried out at physical locations. It's for these reasons that fraudsters have developed, and are continually developing, new methods to illegally siphon cash over the Internet. Online Payment Protection Market Development Juniper Research has found that retailers stand to lose $71 billion globally from fraudulent Card-Not-Present (CNP) transactions over the next 5 years. Their latest worldwide market st...