As non-cash transactions grow, the global payments landscape is being transformed. The volume of non-cash transactions has increased more than tenfold in less than 20 years – marking a clear move away from cash toward digital payment methods. This strong momentum is both global and relentless, with non-cash transaction growth accelerating in every major region of the globe.1
Traditional banks face mounting pressure in the payments industry – all while PayTechs and other, more agile platform players seize market share. These competitors are now redefining merchant payment services by offering omnichannel, scalable payment solutions that integrate seamlessly into merchant operations – and deliver faster onboarding, better analytics, and tailored value-added services.
The World Payments Report 2026 draws on insights from two primary sources – a survey of 2,600 merchants across small, medium, and large revenue tiers, alongside over 420 surveys and more than 65 focused interviews with senior payments executives from leading banks and PayTechs. This year’s research includes individuals spanning 15 countries and three regions: the Americas, Europe, and Asia-Pacific.
Crucially, the report tells us that despite PayTechs gaining ground, banks have a clear opportunity to reclaim their position in merchant payment services. In fact, when it comes to preferred providers of financial services needs, 66% of merchants still trust traditional banks over PayTechs.2
So how can banks catch up? Capgemini’s World Payments Report 2026 recommends they:
- Refocus with clarity and move nimbly, choosing the right business models to compete effectively in their chosen markets.
- Build digital capabilities that support and secure their business strategy, and ensure their technology stack is agile and scalable.
- Scale through best-in-class delivery of verticalized, value-added services – a robust ecosystem of tailored offerings that help merchants run smarter, leaner, and faster.
Banks also need to activate their edge in trust, technology, and data for real success. Seamless onboarding can now be a differentiator, and payment orchestration adds further value by dynamically routing transactions, reducing downtime, and improving conversion.
By embracing innovation, adapting to new expectations and solutions, and harnessing their trusted relationships, banks can redefine merchant payment services for today’s digital payments economy – and even win.
