Transaction value of recurring payments to exceed $15trn by 2027

The transaction value of recurring payments will exceed $15.4trn globally in 2027, rising from $13.2trn in 2023, according to a report from Juniper Research.  It attributes the slow growth of 17% to the fact recurring payments are a well-established market, but also disguises a rapid change of payment methods in the space, with open banking and digital wallet payments outstripping overall growth.  A recurring payment is any transaction that is made on a repeating basis, regardless of payment method or billing cycle.


As part of its research, Juniper updated its Competitor Leaderboard for 2023, which ranks the top 20 recurring payments platforms. The top three vendors were Mollie, Zuroa and Recurly.  Companies at the top of the list had a wide spread of integrations with different payment methods and deep tracking and customisable payment plan capabilities.  To stay ahead of the market, Juniper claims recurring payments platform vendors need to build solutions that support future-looking payment types as they are developed, including open banking and CBDCs. 

Read more at https://fintech.global/2023/04/11/transaction-value-of-recurring-payments-to-exceed-15trn-by-2027/


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