This year’s payments market trends according to Mastercard: AI, digitalisation, mobile wallets and tokenisation

1. Fighting AI fraud with AI: global damage caused by fraud using AI tools could reach USD 10tn in 2025. However, AI can also be the key to defence: there are partners in Mastercard’s network for who an AI tool called Mastercard Decision Intelligence Pro has delivered improvement up to 300%.

2. Small businesses with a bigger toolbox: today a wide range of digital service packages tailored to the needs of small businesses are available, which can automate administrative tasks in a user-friendly way, facilitate data-driven decision making and help in developing personalised marketing programmes.

3. Flexible digital identification: in 2025 identity verification is expected to become faster and more convenient: processes are already being accelerated by biometric identification, machine learning and passwords.

4. The conquest of digital wallets: digital wallets are increasingly taking over the role of bank accounts, as a convenient and affordable alternative to them. In the future, these wallets could become even more complex super-apps, including payments, identification, etc.

5. Easier and more convenient payments: as physical and digital experiences merge, touch technology applications are becoming more widespread in commerce, from approving transactions to instantly adding cards to mobile wallets.

6. B2B becomes as simple as ABC: more and more companies recognise the benefits of virtual cards and embedded payment solutions can help small businesses prevent fraud and increase efficiency.

7. Real-time transactions: by 2028 instant payment systems (already available in more than 100 countries) are expected to handle 575 billion transactions, representing 27% of global electronic payments.

8. Innovative partnerships: there is a growing trend in the market for casual partnerships to evolve into tactical collaborations. Financial institutions, corporations, governments and fintech companies are integrating new technologies to increase efficiency and improve the user experience.

9. Blockchain banking: in 2025 blockchain technology will play a main role in increasing speed and security, especially for B2B payments.

10. The token economy: tokenisation makes tens of billions of transactions safer every year, by converting the sensitive data involved into tokens, protecting them from criminals. Tokenisation also allows retailers to make more personalised offers to customers. //