Payments are becoming increasingly digital, flexible and driven by consumer choice. As non-cash transactions surge toward an estimated USD 2.8 tn by 2028, a transformation toward instant, streamlined, secure payments is taking place.

HERE’S WHAT YOU NEED TO KNOW-

AI will be transformational, reducing fraud and personalizing payment experiences: In the last decade alone, Visa has invested USD 3 bn in our AI and data infrastructure. In 2024, we introduced three new AI-powered risk and fraud prevention solutions that have the potential to significantly reduce the risk of fraud across account to account (A2A) and card-not-present (CNP) payments, as well as transactions on and off Visa’s network.

Biometrics are the future, reducing the risk of hacking and eliminating the need for passwords: Authentication is moving away from PINs and passwords and will rely more on your face, your fingerprints or other biometrics, which not only means that you don’t have to keep track of passwords, it also reduces the risk of fraud. Products like Visa Payment Passkey Service do precisely that.

Real-time payments (RTPs) are gaining momentum making trade and global growth easier: The U.S. FedNow service and Europe’s Instant Credit Transfers Scheme (SEPA) are driving more seamless 24/7 instant payments, but fraud protection and global interoperability remain key issues.

A2A payments will become more streamlined, giving consumers more payment options: Products like pay by bank are digitizing and simplifying A2A payments. Emerging tools like Visa Protect for A2A Payments, are also rolling out to help mitigate fraud on RTP networks.

Embedded finance is the future, allowing users to access financial services in one place: Third-party financial products and services are being embedded into otherwise non-financial digital platforms. When done right, it’s a four-way win for service providers, digital enablers, distributors, and end-users.

Faster cross-border payments are keeping up with the demands of globalization: By 2028, cross-border payments are expected to account for 33% of global e-commerce spending. Interoperable global RTP networks that are not siloed and can process payments in multiple currencies will be the future. Visa Direct is a great example of a global RTP network that is interoperable and enables faster, more cost-effective cross-border capabilities for individuals and businesses.

The future of payments is here: fast, secure, and consumer-centric. Explore the possibilities at Visa.com.

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