How large is the lending and payments market, and what is its growth trajectory?
The lending and payments market size has grown strongly in recent years. It will grow from $12326.44 billion in 2024 to $13296.7 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to economic growth, expansion of banking and financial institutions, consumer demand, regulatory environment.
The lending and payments market size is expected to see strong growth in the next few years. It will grow to $17569.09 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to digital transformation, fintech disruption, financial inclusion, blockchain and cryptocurrency, data analytics and artificial intelligence. Major trends in the forecast period include peer-to-peer lending, contactless and mobile payments, open banking, embedded finance, sustainable and ethical finance.
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What are the key forces behind the lending and payments market’s growth in recent years?
Artificial Intelligence is gaining prominence in the payments sector due to its various applications allowing businesses to synthesize data to improve customer experience. Artificial intelligence refers to the development of computer systems that can perform tasks using human intelligence. Payment companies can improve their operational efficiency through AI, such as reducing processing times, error-free insights, and increasing automation. Many banking and non-banking institutions are using AI applications to monitor payment transactions from the point of payment message to the payment gateway. For example, AI-enabled application chatbots are being adopted by payment firms as they can understand customer language and respond to customer queries on a real-time basis. AI machine learning is significantly used to improve fraud detection and reduce false transactions. For instance, according to the latest Economist Intelligence Unit adoption study, 54% of financial services organizations adopted AI for payments to strengthen customer relationships.
What are the major segments of the lending and payments market?
The lending and payments market covered in this report is segmented –
1) By Type: Lending, Cards, Payments
2) By Lending Channel: Offline, Online
3) By End User: B2B, B2C
Subsegments:
1) By Lending: Personal Loans, Mortgages, Auto Loans, Student Loans, Business Loans, Peer-to-Peer (P2P) Lending
2) By Cards: Credit Cards, Debit Cards, Prepaid Cards, Charge Cards
3) By Payments: Digital Payments, Mobile Payments, E-wallets, Bank Transfers, Point Of Sale (POS) Payments, Online Payment Gateways
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Which companies dominate the lending and payments market?
Major companies operating in the lending and payments market include China Construction Bank, Agricultural Bank Of China, JPMorgan Chase & Co., Bank of China, Industrial and Commercial Bank of China, Bank of America Corporation, Banco Santander, Citi Group, Wells Fargo & Company, State Bank of India, Klarna Inc., Funding Circle, Advanced Financial Services Private Limited, Visa Payments Limited, Mastercard Inc., Tencent Holdings Limited, Ant Financial Service Group Co. Ltd., PayPal Payments Pvt Ltd., Square Capital LLC., Coinbase Global Inc., Social Finance Inc., Coinbase Global Inc., Robinhood Markets Inc., Venmo, Affirm Inc., Afterpay Australia Pty Ltd., LendingClub Bank., Camden Town Technologies Pvt Ltd., Kabbage Inc., On Deck Capital Inc., Avant LLC., Upstart Network Inc., Lendio.
How will evolving trends contribute to the growth of the lending and payments market?
Alternative lending is gaining traction as it gives loans to individuals and businesses who cannot access loans through traditional banking platforms. Alternative lending is becoming popular mainly because offering commercial loans to small businesses is deemed unprofitable by traditional banks. Alternative lenders rely on advanced technologies such as big data to obtain data-driven insights, which can be used to quicken the overall lending process. This allows alternative lenders to earn profits on loans that are conventionally considered unprofitable by traditional lenders. Examples of alternative lenders include Lending Club and OnDeck.
Which regional trends are influencing the lending and payments market, and which area dominates the industry?
Western Europe was the largest region in the lending and payments market in 2023. Asia-Pacific was the second largest region in the lending and payments market. The regions covered in the lending and payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Lending And Payments Market Report 2025 Offer?
The lending and payments market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Lending and payments refer to financial services focused on providing credit and facilitating transactions. Lending involves offering loans or credit to individuals or businesses, which are repaid with interest over time, often through banks, credit unions, or online platforms. Payments refer to the processing and transfer of money between parties, either for goods and services or settling debts, and include methods such as cash, credit cards, digital wallets, and electronic transfers.
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