Our Scans · (FS.8.01) Future of Payments · Weekly Summary

• [New] The federal government's interest payments on existing debt are projected to reach $1.4 trillion annually by 2034, becoming one of the largest categories of federal spending. GovFacts
• [New] 75% of retailers plan to accept crypto payments within the next two years, and 64% of surveyed consumers said they would be more likely to shop with a business that accepts cryptocurrency. Crypto Briefing
• [New] India continues to see significant growth in digital payments, with over 130 billion transactions projected by the end of 2025. Precedence Research
• [New] The adoption of online payment in the United States is expected to continue to grow, with a rising percentage of businesses and consumers using digital wallets and various other online payment methods. Precedence Research
• [New] Payment volumes are expected to grow by 30% in 2025, with e-commerce adoption of the method likely to surpass most other digital options by 2030, second only to digital wallets. Fintech Schweiz Digital Finance News - FintechNewsCH
• [New] Southeast Asia's rapid digital growth is creating major opportunities for high-growth enterprises, but when it comes to managing cross-border payments, many businesses are still held back by fragmented infrastructure, currency complexities, and inefficient payment processing systems. Fintech Singapore
• The US Congressional Budget Office (CBO) estimates interest payments on federal debt will exceed defence spending by 2026. MarketsFarm
• The US should actively pursue dollar stability through tech-based financial solutions, such as developments in digital payments, which could help stem the rise of substitute payment systems that have cropped up regionally. Watcher Guru
• Cross-border crypto transactions in the EU are expected to surpass €1.2 trillion by the end of 2025, a 60% increase from 2023.Stablecoins now account for 40% of all cross-border crypto payments, offering a more reliable and regulatory-compliant solution. CoinLaw
• Starlink's entry could bridge India's digital divide, providing access to telemedicine, e-learning, and digital payments, which would align with the Digital India initiative. FE Tech Bytes
• Fidelity's move will push banks, payment providers, and fintech companies to adopt blockchain technology faster and improve their services due to the growing competition. Cryptopolitan
• Approximately 66% of consumers have shifted to online transactions due to recent global disruptions, reflecting a significant rise in usage of mobile wallets and instant payments. Grady Andersen
• High interest payments on public debt will continue to strain Britain's fiscal balance and contribute to a rising debt burden. The Star
• As a part of Online Payment Gateway, the Treasury Department in partnership with the Department of IT, will be rolling out a new platform that allows global payments to Government using debit / credit cards. British Virgin Islands London Office
• Companies in Peru could integrate stablecoins such as USDC or central bank digital currencies (CBDC) into their payment platforms. Latin Counsel
• Digital wallets represent a significant opportunity for innovation and growth, and for non-card forms of payment as they become available, particularly for retail transactions. GOV.UK
• The European Central Bank board member responsible for the digital euro has begun talking about the possible international use of a payment system that respects the sovereignty of third countries, mitigates potential risks for them and offers them new opportunities. DNyuz
• Stablecoins with their ability to operate 24 x7x 365 and provide real-time, instant settlement with finality, solve many of the challenges plaguing U.S. payment systems, and could be pivotal to bridging traditional finance and digital assets, leading to the acceleration of faster payments. Faster Payments Council
• The landscape of integrated payment management continues evolving rapidly, with emerging technologies and changing consumer expectations creating new opportunities and challenges for Irish hospitality businesses. New Payment Innovation Limited
• With a growing number of cross-border payment arrangements already being settled in local currencies on a bilateral basis, BRICS Pay will likely lead to further fragmentation of the global payment system. Northern Trust

Last updated: 26 June 2025