: Year-over-year transaction volume growth slowed to 12% in 2024 , down from 15% in 2023.
The card industry reached a massive milestone in 2024, yet there are clear signals of shifting growth dynamics: Are We Nearing Peak Card?
The global payments landscape is currently navigating a pivotal "hybrid" era. While digital wallets are projected to reach (over 60% of the global population), physical cards are not yet in terminal decline. Instead, the industry is seeing the "Peak Card" phenomenon—a saturation of physical plastic accompanied by a fundamental shift toward virtual credentials. Market Momentum and Milestones : Year-over-year transaction volume growth slowed to 12%
: In the U.S., credit card usage reached a record 35% share of all payments in 2024, nearly doubling since 2016. The Digital Overtake Instead, the industry is seeing the "Peak Card"
Alternative payment methods (APMs) and digital wallets are rapidly redefining "the card": Payment trends in 2026: Innovation, Trust, & Growth