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Our midyear report revisits the top trends we named in early 2025 to see what’s shaping the market, evolving fast, or fading in the rearview mirror.

The global payments industry will be a $2.3 trillion revenue opportunity in 2028. But shifting business models, new technologies, and alternative payment methods are changing how key card players compete for a share of this revenue.

Italy’s digital landscape is evolving fast, driven by shifting consumer and media habits and increasing ecommerce adoption. Recent data reveals the trends shaping digital spending, retail sales, and more.

India’s commerce landscape is undergoing rapid transformation, fueled by booming ecommerce, rising mobile shopping, and the growing influence of social media.

Fellow digital wallets Apple Pay (used by 16.4% of respondents) and Google Pay (9.6%) fell far behind. Gen Z expects Apple Pay at checkout. Gen Zers’ payment preferences differ from those of older consumers. One of the biggest distinctions is their love of Apple Pay.

The Vipps wallet in Norway is the first to use Apple’s NFC tech, opening the floodgates for more to deploy the tech.

Australia’s digital landscape is evolving fast, driven by shifting consumer behaviors, increasing ecommerce adoption, and changing media habits. Recent data reveals trends shaping digital spending, retail sales, and more.

But despite being the first foreign credit card network to gain approval, Amex has fallen behind the other card networks in gaining partnerships with China’s major digital wallets. Alipay already partners with Visa, Mastercard, Discover, Diners Club International, and JCB.

Along with expanded access to Pay with Venmo and a buzzy ad campaign, Venmo is trying to reach key demographics.

This report analyzes how digital adoption and evolving consumer habits are reshaping South Korea’s retail, media, and payments landscape.

AI is upending every aspect of marketing, from neuro-contextual ads that read emotions to autonomous shopping agents that make purchasing decisions. As tech giants consolidate control of the sector, six pivotal trends are reshaping advertising, search, and commerce.

The news: Affirm will be available as a payment option for in-store shoppers on Stripe Terminal for US and Canadian merchants, per a press release. Our take: Snagging a Stripe Terminal integration is a big win for Affirm. This can help expand its lead in the US, where it holds $35.69 billion in payment value—a $4 billion dollar lead over Klarna.

The news: American Express rolled out special London-based perks and offerings as a part of its Adventures with Amex series. Our take: Sixty percent of respondents to Amex’s Global Travel Trend Report planned on taking at least one trip for a sporting event this year. Hitching its London adventure rollout to both F1 and Wimbledon can get those travelers to book through Amex’s platform instead of a competitor’s.

The news: President Donald Trump signed the Guiding and Establishing National Innovation for US Stablecoins Act, known by its shorthand as the GENIUS Act, during a White House ceremony on Friday. Our take: The GENIUS Act ushers in the clarity and legitimacy sought after by crypto players and traditional FIs alike.

Payment providers are investing in AI to help streamline and personalize both the merchant and customer experiences

The news: Seventy-one percent of US parents with children ages 1 to 17 give them an allowance, averaging $37 per week, per a recent Wells Fargo study. But not all are confident that they’re able to teach their children about banking or savings. Banks have a clear opportunity to support parents in teaching their children about money—and by doing so, they’re strengthening their ties with their next generation of customers. They should develop engaging, age-appropriate digital tools and educational content that simplify complex concepts and encourage responsible money management. Additionally, banks can offer resources and workshops for parents to equip them with the confidence and knowledge to guide their children's financial journeys.

The news: Fiserv’s organic revenues grew 8% in Q2, per its earnings release. Our take: Fiserv’s Clover faces a stacked market with Shift4, Square, and Toast all offering competitive POS solutions for SMBs.

The news: Zip’s total transaction volume (TTV) spiked 30.3% YoY in fiscal 2025 (ended June 30, 2025), driven by momentum in its US business. Cash before taxes, depreciation, and amortization (EBTDA) more than doubled YoY to AUD 170.3 million ($109.38 million), a 147% increase. Total transaction value hit AUD 13.1 billion ($8.42 billion). Transaction volume was up 22.1% YoY to 93 million. Net bad debts decreased YoY to 1.5% of TTV, down from 1.7% in FY24. Our take: Zip’s year-end results reflect the spending strength of US consumers. We forecast US total retail sales to hit $7.513.38 trillion for 2025. By comparison, Zip’s native Australia is only anticipated to crack $356.49 billion in total retail sales this year.

US financial media network ad spend will soar to $1.22 billion in 2026, nearly doubling from $640 million in 2025—a 66.8% compound annual growth rate (CAGR), per our May 2025 forecast.

Epic Games forced Apple to unwind App Store rules, setting a precedent that weakens Apple’s payment monopoly and threatens its fastest-growing services revenue stream.

US retail sales via mobile wallets are growing much faster than overall sales. To meet this demand, wallet providers must address consumer expectations and solve growth hurdles.

From AI agents changing customer expectations to banking licenses no longer differentiating financial institutions (FIs) from digital competitors, this report reveals the trends FIs must understand to maintain a competitive edge in H2 2025.