| Daily payments | $8 trillion (99% digital) | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Number of daily payments | 52 million | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Same-day processing | 98% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Real-time processing | 78% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Global payment flows (2020) | $240 trillion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| POWER+ segments | $54 trillion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Platforms | $36 trillion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Gig economy (2020) | $300 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Gig economy (2023 projected) | $455 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Creator economy (2021) | $100 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Digital identity | $210 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Stablecoins | $100 billion+ | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Connected cars (2030) | $450 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Wearables revenue (2020) | $4.1 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Remittances (2020) | $700 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Embedded finance (2030) | $3.6 trillion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| BNPL (2025 projected) | $1 trillion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Virtual spaces (2025) | $390 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Emerging economies growth | $3.7 trillion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| New jobs potential | 95 million | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Smartphone penetration (2026) | 91% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Mobile usage (2011 vs 2020) | 32 mins to 143 mins | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Blockchain wallet users | 75 million | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| US digital bank accounts (2024) | 47.8 million | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Fintech growth (Europe) | 72% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Fintech growth (US) | 39% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Global remittance fees | 7.13% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| GDP gains from open data | 1-5% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Apps per phone | 80 apps | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Apps used daily | 9 apps | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Online accounts requiring passwords by the average internet user | 150 | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Cost of fraud and theft for consumers (2020) | $16 billion | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Financial services applications abandoned due to friction during onboarding | 25% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Americans concerned about how companies use their data | 80% | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Consumers who consider themselves uninformed about cybersecurity | 1 in 4 | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| Consumers’ willingness to pay for solving these problems | $0 | JP Morgan |
https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/jpm-payments-are-eating-the-world.pdf |
| International wire transfer cost | $44 | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| USDC payment cost (2021) | $12 | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| USDC payment cost (Sept 2024) | $1 | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| Stablecoin Transaction Volume (Q2 2024) | $8.5 trillion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| Stablecoin Transactions (Q2 2024) | 1.1 billion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| Visa Transaction Volume (Q2 2024) | $3.96 trillion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| Visa Transactions (Q2 2024) | 59.3 billion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| PayPal Transaction Volume (Q2 2024) | $0.42 trillion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| PayPal Transactions (Q2 2024) | 6.6 billion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| ACH Transaction Volume (Q2 2024) | $21.6 trillion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| ACH Transactions (Q2 2024) | 8.3 billion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| Fedwire Transaction Volume (Q2 2024) | $284.2 trillion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| Fedwire Transactions (Q2 2024) | 0.05 billion | a16z | https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/#section--4 |
| US credit card payments (2023) | $5.6 trillion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| US debit card payments (2023) | $4.4 trillion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| Global payment volume (2023) | $1.8 quadrillion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| Transactions (2023) | $3.4 trillion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| Revenue (2023) | $2.4 trillion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| Payment card fraud (next 10 years) | $400 billion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| AML fines (2023) | $6 billion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| Revenue opportunity (2028) | $3.1 trillion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| Cash payments (2019) | $26 trillion | McKinsey |
https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-in-2024-simpler-interfaces-complex-reality#/ |
| US B2B payments | $29 trillion | FT Partners | https://www.ftpartners.com/fintech-research/b2b-payments |
| Check B2B payments | 50% | FT Partners | https://www.ftpartners.com/fintech-research/b2b-payments |
| Total B2B transaction value in 2024 | $83 trillion | FT Partners | https://www.ftpartners.com/fintech-research/b2b-payments |
| Total B2B transaction value in 2028 | $124 trillion | FT Partners | https://www.ftpartners.com/fintech-research/b2b-payments |
| Market growth (2024 to 2028) | 40% | FT Partners | https://www.ftpartners.com/fintech-research/b2b-payments |
| FX fee reduction | 20 - 30 bps | Visa |
https://usa.visa.com/content/dam/VCOM/regional/na/us/Solutions/documents/visa-crypto.com-usdc-case-study.pdf |
| Prefunding time reduction | 8 to 4 days | Visa |
https://usa.visa.com/content/dam/VCOM/regional/na/us/Solutions/documents/visa-crypto.com-usdc-case-study.pdf |
| Stablecoin supply (2024) | $160 billion | Visa 2 | https://visaonchainanalytics.com/ |
| Stablecoin transaction volume (2024 adjusted) | $5.5 trillion | Visa 2 | https://visaonchainanalytics.com/ |
| B2B Commercial Payments Opportunity | $145 trillion | Visa 3 |
https://corporate.visa.com/content/dam/VCOM/corporate/services/documents/vca-10-priorities-payments-and-banking-for-smbs.pdf |
| Commercial money movement | $200 trillion | Visa 3 |
https://corporate.visa.com/content/dam/VCOM/corporate/services/documents/vca-10-priorities-payments-and-banking-for-smbs.pdf |
| April 2024 premium volume | $1.5 trillion | Houlihan |
https://cdn.hl.com/pdf/2024/payments-market-update--april-2024.pdf |
| Annual premium volume (2024) | $2.8 trillion | Houlihan 2 |
https://cdn.hl.com/pdf/2024/hl-fintech-market-update-q1-2024.pdf |
| Global payments revenue opportunity | $950 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| North America payments revenue opportunity | $186 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cross-Border Payments | $290 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Payment Processing | $160 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| AP/AR Software & Services | $130 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Working Capital | $270 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Disbursements | $100 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| B2B Payments Volume (2019) | $127 trillion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| B2B Payments Volume by 2028 | $200 trillion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Accounts Payable (AP) Costs (2019) | $2.7 trillion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| SMB Share of AP Costs | 80% | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cost Reduction with AP Automation | 75% | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| B2B Payments Made by Check | 60% | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| SMB Payments Made by Check | 80% | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cost of Supplies for Paper Checks | $1.55 per check | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cost for Suppliers to Process Checks | $7-$10 per check | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Settlement Time for Checks | 3-5 days | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Average Cross-Border Transaction Fee | 4.0%-4.5% | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Revenue from Cross-Border Transactions | $1 trillion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cost of Late Invoice Payments (North America) | $25 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cost of Late Invoice Payments (Global) | $122 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cost of Financing $50,000 Shortfall (Small Business, 30 Days) | $600-$850 | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cost of Selling a $50,000 Invoice to a Factoring Company | $1,000-$2,500 | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Global Supply Chain Financing Costs | $610 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| North America Supply Chain Financing Spending | $125 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| B2B revenue opportunity 2028 | $1.5 trillion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Global financing spending | $610 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Rev opp for card networks w/ 5%-10% automation | $12 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cross-border payment volume flow via banks | 95% | Goldmans Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Bank FX fees | $35-$50 per txn | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Bank transfer revenue | $1 trillion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cross-border FX fees volume | 4% - 4.5% | Goldmans Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Cross-border settlement time | 3-5 days | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| AP Personnel Time Spent on Routine Tasks | 30% | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Annual Accounts Payable (AP) Processing Costs (North America) | $187 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Total B2B Payments Costs (Direct + Indirect, North America) | $510 billion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Total B2B Payments Costs (Direct + Indirect, Global) | $2.7 trillion | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Large Business Payments Made with Paper Checks | 50% | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Digital Payment Forms Usage (B2B Payments Today) | 36% | Goldman Sachs |
https://www.gspublishing.com/content/research/en/reports/2019/09/04/201b4777-6217-4638-9701-fb98d67d9d5d.pdf |
| Reduced Yield Spreads | 25 bps | BIS | https://www.bis.org/publ/work1116.htm |
| Enhanced Liquidity | 5.30% | HKMA |
https://www.hkma.gov.hk/media/eng/publication-and-research/research/research-memorandums/2023/RM04-2023.pdf |
| Cost Savings Across Settlement Value Chain | 35-65% | Digital Asset |
https://www.digitalasset.com/hubfs/Canton_Connectivity%20and%20Control%20Within%20Regulatory%20Guardrails_FINAL.pdf?hsLang=en |
| Cost Savings for Equity Post-Trading | Up to $5 billion | Digital Asset |
https://www.digitalasset.com/hubfs/Canton_Connectivity%20and%20Control%20Within%20Regulatory%20Guardrails_FINAL.pdf?hsLang=en |
| Annual investment bank savings | $12 billion | Accenture |
https://www.reuters.com/article/us-banks-blockchain-accenture-idUSKBN1511OU/#:~:text=Blockchain%20technology%20could%20help%20the%20world%E2%80%99s%20largest%20investment%20banks%20cut%20their%20infrastructure%20costs%20by%20between%20%248%20to%20%2412%20billion%20a%20year%20by%202025 |