Your customers are ready for new payment methods: Are you?

The way people pay is changing fast. What was once a simple choice between cash or card is now a complex mix of wallets, instalments, crypto and real-time rails. Consumers increasingly expect to pay how they want, when they want, and they’ll abandon a checkout if their preferred option isn’t there. For merchants, this shift is no longer optional. It’s a defining part of customer experience and conversion.

Rise in digital wallets

Digital wallets have swiftly transitioned from a niche convenience to a dominant payment method globally. In 2024, there were 4.3 billion digital wallet users worldwide, accounting for 53 per cent of the global population. Projections indicate this number will grow to 5.2 billion by 2026, representing over 60 per cent of the world’s consumers.

This surge aligns with broader shifts in how people prefer to pay. In 2025, digital wallets are expected to contribute to more than 50 per cent of e‑commerce transaction value globally, a sharp rise from just over 40 per cent in 2021. By 2027, global digital wallet transactions are forecast to reach a staggering USD 25 trillion, as both online and in‑store usage continues to scale.

Regionally, the Asia‑Pacific (APAC) region leads the way: approximately 70 per cent of e‑commerce spend in APAC is already processed via digital wallets. In the United States, digital wallet usage at the point‑of‑sale has jumped from 19 per cent in 2019 to 28 per cent, reflecting growing consumer comfort with mobile proximity payments.. Meanwhile, Australia alone is tracking remarkable growth, with digital wallet transaction values projected to reach AUD 201.3 billion in 2025, up 20.8 per cent year‑on‑year.

Digital wallets are no longer emerging. They are indispensable. For merchants, adopting wallet payments is now a vital strategy to meet evolving consumer expectations and capture market share in a cashless era.

The flexible payment revolution: BNPL

The rise of Buy Now, Pay Later (BNPL) is reshaping how consumers approach affordability and credit. Once considered an alternative payment method, BNPL has become a mainstream option, particularly among younger shoppers who prefer short-term, interest-free flexibility over traditional credit cards.

In 2024, the global BNPL market was valued at USD 27.9 billion, and it is projected to grow to USD 39.8 billion in 2025. Looking ahead, it could reach USD 681 billion by 2033, with a compound annual growth rate (CAGR) of 42.6% (Global Growth Insights).

The growth is fuelled by both consumer demand and merchant adoption. Younger generations, especially Millennials and Gen Z, are leading the charge. Research shows that more than 55 % of BNPL users were aged under 40, with the most significant uptake among those aged 18 to 34. These shoppers are often wary of traditional credit, opting instead for more transparent and flexible options at checkout.

For merchants, the benefits are hard to ignore. BNPL can drive higher average order values and reduce cart abandonment. In Australia, BNPL services handled $20 billion in transactions during 2023, across 50 million individual purchases. More than 7 million active accounts were recorded, highlighting how deeply entrenched the service has become in consumer behaviour.

As BNPL becomes a standard part of both online and in-store checkouts, businesses that fail to offer it risk falling behind. The focus now has shifted to adopting acquiring solutions that support seamless BNPL integration while meeting compliance and security standards. Payment flexibility is no longer a differentiator. It is an expectation for consumers.

Cryptocurrency payments

Cryptocurrency payments are gaining traction as a serious consideration for modern merchants. In 2025, there are over 820 million active crypto wallets globally, with the Asia‑Pacific region leading at 350 million, followed by Europe, North America and Latin America.

Luxury and high-end retail brands are increasingly accepting crypto to meet rising demand. Ferrari now supports bitcoin and ether payments across both US and European dealerships. In France, department store Printemps has partnered with Binance to enable crypto checkout options.

Stablecoins are steadily entering the mainstream as a fast, stable, and borderless way to transact. In the past year alone, the number of active stablecoin users has surged. According to the Stablecoin Insider Q2 2025 report, active addresses jumped from 19.6 million in February 2024 to 30 million a year later; a growth of over 50%.

While crypto is still an emerging option for most merchants, it is increasingly relevant for businesses with global customers, affluent audiences or a forward-thinking brand. The infrastructure exists, and consumer readiness is growing.

Payment optionality is a competitive advantage

The payments landscape is shifting fast. From digital wallets and BNPL to crypto and stablecoins, consumers are embracing flexible payment methods. And they expect businesses to keep up. They are reshaping what customers value in their everyday payment experiences.

Whether it’s a Gen Z shopper using Afterpay or a tourist paying with Alipay, the expectation is clear: let me pay how I want, or I’ll go elsewhere.

For merchants, this means payment acceptance has become a front-line differentiator. It impacts conversion, loyalty, and even brand perception. Businesses still relying on rigid or outdated systems risk falling behind at the most critical point in the customer journey.

Ready to meet your customers where they are? Novatti makes it easy to accept the payment methods shaping the future: digital wallets, BNPL, crypto, and more, through one unified acquiring platform. Explore Novatti’s payment acceptance solutions.