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The Global Payments Report 2023: A Comprehensive Overview of the Payments Landscape

The payments industry is constantly evolving, with new technologies and trends emerging at an ever-increasing pace. Staying informed about the latest developments and adapting to changing customer preferences is essential for businesses to remain competitive. The recently released Global Payments Report 2023 by FIS provides a comprehensive overview of the payments landscape, offering valuable insights into the key trends and drivers that will shape the industry in the coming years.

According to the report, physical payment cards remain an essential payment method globally, accounting for 70% of all global point-of-sale transactions. While digital payments are growing at a rapid pace, physical cards are still widely used and are likely to remain so for the foreseeable future. In fact, the report estimates that the use of physical cards will continue to grow at a rate of 2.5% annually, with over 16 billion payment cards in circulation worldwide by 2023.

At the same time, the report highlights the continued growth of e-commerce, with online sales expected to account for 22% of all global retail sales by 2023. This growth is being driven by the increasing adoption of mobile devices and the rise of digital payment methods. By 2023, mobile payments are expected to account for over half of all e-commerce transactions, with China and other emerging markets leading the way.

Another important trend identified in the report is the rise of instant payments. These payment methods enable faster and more efficient transactions between businesses and consumers, making them particularly important for e-commerce merchants. The report predicts that instant payments will become even more widespread in the coming years, with many countries already adopting these payment methods. In fact, the report estimates that instant payments will account for 17% of all global transactions by 2023.

The report also emphasizes the growing importance of data analytics and artificial intelligence in the payments industry. By leveraging these technologies, businesses can gain valuable insights into customer behavior and preferences, enabling them to offer personalized and targeted payment solutions. Data analytics and AI can also help businesses detect and prevent fraud, which is becoming an increasingly pressing concern for many businesses. In fact, the report estimates that global losses due to payment fraud will reach $43.8 billion by 2023.

Finally, the report underscores the importance of regulation and security in the payments industry. With increasing scrutiny from regulators and consumers, businesses must prioritize compliance and ensure that they have robust security measures in place to protect customer data. Failure to do so can result in reputational damage and financial losses. The report notes that the adoption of the General Data Protection Regulation (GDPR) in Europe has raised awareness of data privacy issues and is likely to lead to increased regulatory scrutiny in other regions as well.


In conclusion, the Global Payments Report 2023 provides valuable insights into the future of the payments industry. By staying informed and adapting to new payment technologies and trends, businesses can position themselves for success in a rapidly evolving payments landscape. While digital payments are on the rise, physical payment cards are still widely used and will continue to be an essential payment method globally. By understanding the trends and drivers that are shaping the industry, businesses can stay ahead of the curve and meet the needs of their customers.

At Surfboard Payments, we understand the importance of staying ahead of the curve in the payments industry. That's why we offer a range of cutting-edge payment solutions that enable businesses to meet the evolving needs of their customers. From mobile payments to instant payments and data analytics through API & SDK, we provide the tools and expertise that businesses need to succeed in today's rapidly evolving payments landscape.

If you're looking for a payment solution provider that can help you stay ahead of the curve, talk to us today. Our team of experts is ready to help you navigate the complexities of the payments industry and find the right solution for your business.

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Take a look at our products which includes both hardware-, and software-based payment solutions


Hardware terminal

Our all-in-one handheld smart terminal device with scanner. Possible to mount in the countertop with a charger stand


Hardware terminal

Our all-in-one handheld smart terminal device with scanner and printer. Good fit for restaurants, cafés, and bars


Hardware terminal

With a physical keypad. Perfect as a card terminal replacement, or paired with a customer-facing tablet screen


Hardware terminal

Our unattended payment terminal is designed to seamlessly integrate EV chargers, vending machines, public transport, and beyond.



Our 22-inch SoftPOS Android tablet for self-checkout and customer-facing payments.


Payment application

Our SoftPOS solution is for any Android smartphone, with no extra hardware needed. Can also be used as backup


Payment application

The customer-facing screen for multiple payment methods, loyalty, and campaigns. To be accompanied by the SurfPad


Online Payments

Pre-built checkout page through link or SDK for your webshop or app