Payment Methods and Funding Mechanisms

How the Lasting Shift to Digital Payments Is Shaping Providers’ Fight for Volume and Share of Wallet

About This Report
Payments Ecosystem: Diminishing analog payment use—as well as the battle for share between entrenched electronic payment methods and emerging challengers—will intensify the battle for customer spending this year.

Executive Summary

Cash, check, card, and electronic bank payments dominate consumer and business payments. But pandemic-driven digitization is changing share of wallet as analog methods continue to decline. In their place, card and electronic transfers will surge, while alternatives like installment loans and cryptocurrencies will threaten giants’ market share.


  1. What are the largest consumer payment methods and funding mechanisms by volume and demand?
  2. How are volume, adoption, and usage changing in each segment?
  3. What are the top trends affecting payment method providers’ growth and revenue strategies in 2022?

WHAT’S IN THIS REPORT? We define and size major payment method and funding mechanism types, offer growth insights and forecasts, and evaluate key trends affecting consumer and business usage in the year to come.

KEY STAT: The share of consumers citing cash as their preferred payment method fell by nearly 10 percentage points from 2016 to 2020, while card payments became more popular.

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Jaime Toplin


Daniel Decea
Researcher, Financial Services
David Morris
Principal Analyst
Julia Woolever
Senior Report Editor

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